Food processing refers to the transformation of food and other agricultural items into food or other forms. It includes various food processing machinery and person-handled processes of transformation. These processes can start from grinding wheat to packing cookies and biscuits. They use complex industrial methods for producing mass-consumed convenience food.
About Indian Food Processing Industry
In India, the food sector has evolved into a fast-growing and profitable sector due to its enormous value-creating potential, especially in the food industry. The Government of India accounts for about 32% of the country's total food market and has contributed to the growth and development of the food industry.
The Market Size of the Food Processing Industry of India
Important highlights of the Food Processing Industry in India’s market size are:
● India's grocery and grocery market is the sixth-largest in the world, with retail accounting for 70% of sales.
● India's food industry accounts for 32% of India's total food market, one of India's largest industries, and ranks fifth in terms of production, consumption, exports, and expected growth. It contributes approximately 8.80% and 8.39% to gross value added (GVA) in manufacturing and agriculture, 13% to India's exports, and 6% to overall industrial investment.
● The Indian gourmet market is currently valued at $ 1.3 billion and is growing at a compound annual growth rate (CAGR) of 20%.
● India's organic food market is expected to triple by 2020.
● India's online grocery ordering business is still in its infancy but is growing exponentially. With online grocery suppliers such as FoodPanda, Zomato, TinyOwl, and Swiggy growing through partnerships, the organized grocery business has great potential and a bright future. The online grocery delivery industry grew 150% year-on-year with an estimated gross domestic product (GMV) of $ 300 million in 2016.
Biggest Players in the Industry
With a population of 1.3 billion who spends most of their natural supply advantage and disposable income on food, India interacts with one of its key businesses: food processing, food retail, and related supply chain organizations around the world. May have a beneficial relationship with. India's growth opportunities through new food processing technologies, innovations, and other value-creating methods. Hence the food processing industry of India is also equivalently big. The biggest players in the current scenario are:
Kohinoor Foods Ltd.
Hindustan Unilever
McCain Foods India Pvt. Ltd.
Mondelez India Foods Pvt. Ltd.
Parle Agro Pvt. Ltd.
Nestle India Ltd.
Britannia Industries Pvt. Ltd.
For more such articles and food Marketing, agrotech, and technology related to the Indian food industry, check out FMTmagazine. FMT Magazine is an edition of the German publication. It is a comprehensive food and beverage magazine that connects the buyers and the sellers through content that is of international quality. The magazine over the entire spectrum of the food industry including content on policies. FMT Magazine stands for Food Marketing & Technology Magazine. The magazine carries articles on ingredients, processing, packaging, food safety, and marketing, along with interviews with top personalities in the Indian food industry.
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