The Indian food processing market was worth INR 24,665 Billion in 2018. Food processing is a vast sector that encompasses activities such as agriculture, horticulture, plantation, dairy, animal husbandry, aquaculture, etc. It also comprises of other industries that use agriculture inputs for the production of edible products. The government of India has acknowledged the food processing sector as a high priority industry and is currently promoting it with various fiscal reliefs and incentives.
Looking forward, the market is projected to reach INR 50,571 Billion by 2024, exhibiting a CAGR of 12.4% during 2019-2024. Rising household incomes, urbanization and the growth of organized retail are currently some of the major drivers of this market.
Indian Food Processing Market: Drivers
- A continuous growth in the urban population and an increase in employment rates have resulted in consumers living a fast-paced and busy lifestyle. With limited time available for cooking and meal preparation, processed foods such as ready-to-eat products and snacks have become quite popular; particularly in the urban areas.
- India has one of the largest working populations in the world. With increasing disposable incomes, this segment can be regarded as the biggest consumer of processed foods in the country. We expect this population to grow continuously during the next five years.
- Increasing penetration levels of organized food retail outlets are offering a wide range of options to consumers. Organized retail outlets allow consumers an access to a diversified range of products coupled with attractive discounts.
- The proportion of working women have been increasing continuously both in the urban and rural areas. As a result of their busy lifestyle, the amount of time for household activities such as cooking is declining. This is creating a rising demand for processed and ready-to-eat foods.
- Based on the segment, the market has been segregated as dairy, fruits and vegetables, meat and poultry processing, fisheries, packaged foods, beverages and others.
- The market has also been segregated on the basis of various regions.
- The competitive landscape of the market has also been examined in the report and the profiles of key players have also been provided.
This report provides a deep insight into the Indian food processing market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian food processing industry in any manner.
Key Questions Answered in This Report:
- How has the India food processing market performed so far and how will it perform in the coming years?
- What are the major segments in the Indian food processing industry?
- What is the breakup of the Indian food processing industry on the basis of various regions?
- What are the various stages in the value chain of the Indian food processing market?
- What are the key driving factors and challenges in the Indian food processing market?
- What is the structure of the Indian food processing market and who are the key players?
- What is the degree of competition in the Indian food processing market?