HyFun forays into retail segment; aims to capture 20 per cent of market share by 2022
Plans to increase manufacturing capacity to 200k tons by 2022
HyFun, one of India’s largest producers and exporters of premium quality frozen potato products, announced its foray into the retail segment with a vision to expand its reach to consumers across India. In sync with the Government's Make in India initiative, the company set up a state-of-the-art potato processing plant in Mehsana, Gujarat, in 2015. In a short span of 5 years, HyFun saw tremendous success in HoReCa, & QSR’s, in both domestic and export markets.
With the sole vision to increase the company's presence in the international markets and cater to the rising demand in the Indian market, HyFun will be expanding its overall manufacturing capacity of 80k tons to 200k tons by 2022. As per research by IMARC, the Indian frozen potato products market is likely to grow at a CAGR of 17.30% during the next five years. The study further states that frozen potato products have gained prominence in the country as they are convenient to cook and come in various flavors, shapes, and sizes that cater to the diversified taste preference of the consumers.
Commenting on the announcement, Mr. Haresh Karamchandani, CEO, HyFun, said, "During the ongoing pandemic, we are seeing consumers look for good quality and convenient food options that cater to their diversified taste preferences. Working professionals and homemakers are now more inclined towards simple food that is hygienic, safe, and easy to prepare. That is where HyFun products will deliver convenience and provide easy solutions for daily meals. We are excited to launch many more disruptive products in the pipeline that will entice the Indian consumer's palette and offer a wide variety to choose from."
He further added, "We are investing Rs.300 crores for our expansion plan, and with this, we aim to create more local employment opportunities in Gujarat. We will be taking utmost care of the involved processes to ensure the highest levels of food safety as per the Food Hygiene and Safety Guidelines issued by FSSAI.”
Sharing his views on the marketing plans, Mr. Varun Malik, Marketing Head, HyFun, said, "We are planning an integrated marketing strategy with a digital-first approach. While digital platforms will be the primary medium for building up the brand and driving reach towards consumers, we will also focus on trade marketing programs & sampling drives to activate the consumers across multiple touchpoints."
HyFun offers more than 25 ready-to-cook frozen snacks such as French Fries, Aloo Tikki, Burger Patties, Nuggets, and many more, available through its esteemed Indian and international channel partners/distributors in Food Service/HoReCa channels. The brand has made its products to suit the Indian palate, reflected in specialties such as Aloo Tikki, Mumbai Aloo Vada, Sabudana Patty, the most loved and popular Indian snacks. Another exciting and unique snack from their portfolio is "Potatobets" (mashed potatoes shaped into alphabets), made especially for kids.
HyFun takes pride in its best-in-class infrastructure where complete automation ensures that the final products are untouched by hand. Their manufacturing practices and hygienic excellence matches global standards, which led to HyFun being certified AA grade from BRCGS. The management has also implemented stringent screening and monitoring of all employees and food handlers and made sure that everyone practices social distancing norms.