The India food processing market size reached INR 25,455 Billion in 2022. Looking forward, IMARC Group expects the market to reach INR 45,345 Billion by 2028, exhibiting a growth rate (CAGR) of 9.5% during 2023-2028.
Food processing is a vast sector that encompasses activities such as agriculture, horticulture, plantation, dairy, animal husbandry, and aquaculture. It also comprises other industries that use agricultural inputs for the production of edible products. The Government of India (GoI) has acknowledged the food processing sector as a high-priority industry and is currently promoting it with various fiscal reliefs and incentives. It is undertaking multiple efforts to encourage investments in the sector. It is also approving proposals for industrial licenses, joint ventures (JV), foreign collaborations, and export-oriented units. Besides this, the Government has introduced an investor-friendly portal, known as Nivesh Bandhu, which integrates Central and State Government incentives and policies for all stakeholders operating in the food processing sector.
India Food Processing Market Drivers:
- Continuous growth in the urban population and increased 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. 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 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.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the India food processing market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on sector.
Breakup by Sector:
- Fruits and Vegetables
- Meat and Poultry Processing
- Packaged Foods
Breakup by Region:
- North India
- South India
- East India
- West India
- 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 India 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 India food processing industry in any manner.
Key Questions Answered in This Report:
- 1. What was the size of the India food processing market in 2022?
- 2. What is the expected growth rate of the India food processing market during 2023-2028?
- 3. What are the key factors driving the India food processing market?
- 4. What has been the impact of COVID-19 on the India food processing market?
- 5. What is the breakup of the India food processing market based on the sector?
- 6. What are the key regions in the India food processing market?