DUBLIN--(BUSINESS WIRE)--The "Food Processing Market in India 2020" report has been added to ResearchAndMarkets.com's offering.
India's diverse agro-climatic conditions, which favors the production of food ingredients in bulk, and availability of promising infrastructure - these are the two primary factors that aided the Indian food processing industry to become the fifth largest in the world.
Currently, the food processing industry in India accounts for ~32% of India's food market, and ~11.6% share of employment in the domestic food industry. Further, the industry accounts for ~2.2% of the total FDI inflows in India. Although the unorganized sector dominates the industry, the organized sector is expected to develop during the forecast period (FY 2020-FY 2024).
Market Insights
The food processing market in India was valued at INR 25,691.30 billion in FY 2018 and is expected to reach INR 53,435.52 billion by FY 2024, expanding at a CAGR of ~12.09% during the FY 2020-FY 2024 period.
The industry experiences a conducive growth environment in terms of availability of raw materials, which is evident from the fact that the Indian food and beverage industry witnessed revenue growth of ~13.41% during the 2015-2019 period. Further, increase in the per capita income and rise in the living standards of people are propelling the growth of the food processing market in India. On the other hand, there is a lack of storage infrastructure faced by the industry (hygienic cold chains, well-established distribution system and transportation networks), which is impeding the growth of the industry in India.
Segment Insights
The food processing industry in India can be segmented into dairy processing, fruits and vegetables processing, fish processing, meat and poultry processing, and other segments like grains and spices processing. Based on volume, the fruits and vegetables processing segment is expected to increase at a CAGR of ~14.84%, during the FY 2020-FY 2024 period. Likewise, the dairy, meat, poultry and fish processing segments would increase at CAGRs of ~8.17%, ~17.24%, ~8.99% and 12.03%, respectively.
Competition Analysis
Although the industry is highly fragmented, it has the presence of established players like Dabur India Limited, ITC Limited, Mother Dairy Fruit & Vegetable Private Limited and Shimla Hills Offerings Private Limited.
Companies Covered
- Dabur India Limited
- ITC Limited
- Nestle India Limited
- Adani Wilmar Limited
- Gujarat Cooperative Milk Marketing Federation
- MTR Foods Private Limited
- Parle Agro
- Parle Products Private Limited
- Cargill India Private Limited
- Olam Agro India Limited
For more information about this report visit https://www.researchandmarkets.com/r/2w3z6z
