Indian Food Processing Industry: Growth Opportunities
India is one of the world’s biggest food processing markets, with a projected production of 535 billion USD by 2025-2026. The initiative is at the center of Indian Government Make-in-India and represents the desire by Premier Modi for a ‘local call.’
The food processing industry has been following a fast growth trajectory with new initiatives like expected infrastructure investment about INR 100 lakh crore (about $1 trn) and INR 25 lakh crore to improve the rural economy.
For eg, Pradhan Mantri Kisan Sampada Yojna is an extensive package designed to build modern facilities with a successful supply chain administration between farm and retail outlet. More recently the formalization of micro food processing companies (MFE) with an INR 10,000 crore spending scheme is being carried out in boosting Prime Minister Modi’s Atma nirbhar Bharat vision.
Related projects :- Food Processing, Food Processing Projects, Food Processing
Food Processing Industry Sector Overview
In India, the probability of rising food manufacturing is countless, from a point of view of shortage to a surplus of the food supply. In recent years, India’s food processing sector was known for its rapid growth and high earnings, which each year increased its exposure to international food trade.
At the moment, India processes less than 10%1 of its farm produce, providing tremendous opportunities to increase these levels of production and to invest in it. Since agriculture and its related sectors are India’s largest livelihood source, 70 percent of its rural households are still primarily dependent on agriculture to support them.
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This sector therefore still has a tremendous capacity for creating employment. The food processing sector, which is currently being encouraged with many fiscal reliefs and incentives, is strongly recognized by the Indian government as a priority industry.
Related videos :- Processed Food Industry
Key Reasons for the Growth of the Food Processing Industry
In numbers, India has one of the largest working populations in the world, which is also the largest user of packaged food in the region, with an increase in disposable incomes.
With a rising modern community and quick-run lifestyles, the time to cook and prepare meals is minimal. There has been strong popularity for packaged foods like ready-to-eat foods and snacks, particularly in urban areas. Annual household intake in Indian countries will triple by 2030, making India a timely food consumption market.
The growing penetration of integrated retail outlets provides shoppers a wide variety of choices. These channels give customers access to different items, often enticing discounts.
Key opportunities in various sectors
Waste reduction technology transfers, including suitable logistics (cold chain, distribution infrastructure), packaged food and manufacturing research and advancement; creativity in farm conservation systems; development, and post-harvest infrastructure skills.
Aqua horticulture– Wetlands are an opportunity to cultivate different horticultural species, such as foxnuts. In Andhra Pradesh, India, wetlands of this sort were developed. The use of GIS database technologies allows the understanding of the climate and economy of certain crops to be examined in aquatic horticulture.
Canning, dehydration, pickling, temporary storage, and bottling– A huge amount of Indian fruit and vegetables frequently go to waste. The possibilities for canning, dehydration, pounding, temporary storage, and bottling can also be investigated to eliminate waste and improve the shelf-life of fresh items.
Processed ingredients for fruits– Certain fruit-based condiments are given a tremendous opportunity in response to the rising need for healthier alternatives. This also includes ice-cream, milk, and drink fruit-based ingredients.
The export capability of processed fruit and vegetables– India has just 26% of the global market share however, due to the concurrent innovations in the areas of modern cold chain infrastructures and quality improvement initiatives, the adoption of Indian horticulture products is growing. This offers an immense incentive to maximize the export potential.
Related book :- Handbook on Fruits, Vegetables & Food Processing with Canning & Preservation
Government Schemes
FDI
- For food production, 100 % FDI is allowed.
- 100 % FDI for the trade of food goods manufactured and/or produced in India, including by e-commerce, under the Government approval road.
PRADHAN MANTRI KISAN SAMPADA YOJNA (PMKSY)
- Mega Food Parks follow a “cluster” strategy, focusing on the construction of cutting-edge support infrastructure in a well-defined Agri/horticultural zone for the establishment of new food processing units in the park’s industrial plots with a well-established supply chain.
NIVESH BANDHU
- A dedicated investors’ platform aimed at making doing business simpler and consolidating information on benefits and strategies into one spot.
E-NAM
- A pan-Indian e-commerce platform, linking APMC’s current networks to create a single national farm product market.
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