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VALUE-ADDED FOOD PROCESSING PROVIDES A SIGNIFICANT GROWTH OPPORTUNITY FOR LOCAL ENTREPRENEURS
Food & Health|January 2025
Value-added food processing presents growth a significant opportunity for local entrepreneurs and international investors looking to tap into the burgeoning market.
VALUE-ADDED FOOD PROCESSING PROVIDES A SIGNIFICANT GROWTH OPPORTUNITY FOR LOCAL ENTREPRENEURS

The Indian food processing industry is poised to ensure that processed products are available to more people than ever before. With a vast agricultural base and diverse culinary traditions, India holds immense potential in the food processing industry.

Despite being one of the largest producers of agricultural products globally, the country has yet to fully capitalize on this resource through value-added food processing.

This presents a significant growth opportunity for local entrepreneurs and international investors looking to tap into a burgeoning market.

Current Landscape of the Indian Food Processing Industry

The Indian food processing industry is vast and varied, encompassing segments like dairy, fruits and vegetables, grains, meat, poultry, fisheries, and consumer foods. However, the industry currently processes only a fraction of its agricultural output. For instance, only about 2% of fruits and vegetables are processed, compared to 65% in the United States and 23% in China.

This indicates a significant gap that can be filled with proper investment and innovation. In 2023, the Indian food processing market expanded to Rs 28,027.5 billion. Projections suggest it will grow to Rs 61,327.5 billion by 2032, reflecting a compound annual growth rate (CAGR) of 8.8% from 2024 to 2032.

Several key drivers are propelling this growth

Rising Middle Class: With increasing disposable incomes and changing lifestyles, there is a growing demand for convenient, packaged, and ready-to-eat food products.

This demographic shift provides a robust consumer base for processed foods.

Urbanization: Rapid urbanization is leading to a higher demand for processed and packaged foods. Urban consumers are more likely to purchase value-added products due to their busy lifestyles and the availability of a wider range of products in urban markets.

This story is from the January 2025 edition of Food & Health.

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This story is from the January 2025 edition of Food & Health.

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