According to the latest report by IMARC Group, titled "India Food Processing Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," the India food processing market reached a value of INR 25,455 Billion in 2022. Food processing is the method of performing mechanical or chemical operations on food to change or preserve it. It transforms agricultural products into food or one form of food into other forms. It includes grinding grain for making raw flour to complicated industrial methods used to make convenience foods. It helps reduce food waste and enhance food preservation while minimizing the total environmental impact of agriculture and enhancing food security. It raises the annual availability of many foods, enables transportation of perishable foods across long distances, and makes many types of foods safe to eat by deactivating spoilage and pathogenic micro-organisms.
India Food Processing Market Trends:
The market in India is primarily driven by the significant expansion of organized food retail outlets. In line with this, the increasing demand for processed food and continual innovations in food processing technology are positively influencing the market. Furthermore, the extensive research and development activities in food processing machinery are catalyzing the market. Apart from this, the growing health consciousness and dietary shifts among consumers are propelling the market. Moreover, key market players are heavily investing in integrating the internet of things (IoT) and artificial intelligence (AI) with food processing methods. This, in turn, is expected to offer numerous opportunities for market expansion. Besides, the rising investments of domestic and foreign companies in the food processing industry of India are strengthening the market. Additionally, the manufacturers operating in the market are focusing on incorporating high-end automation and robotics technology in production facilities to accelerate market developments, which is expected to bolster the market growth. Some of the other factors driving the food processing market in India include the emergence of industry 4.0, rapid urbanization, the growing demand for hygienic convenience food products, and the rising consumption of ready-to-eat food products. On account of the factors above, the market is anticipated to reach a value of INR 45,345 Billion by 2028, exhibiting a CAGR of 9.5% during 2023-2028.
- On the basis of the sector, the market has been categorized into dairy, fruits, and vegetables, meat and poultry processing, fisheries, packaged foods, beverages, and others.
- On the basis of the region, the market has been divided into North, South, East, and West India.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
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