According to IMARC Group’s latest report, titled “Indian Food Processing Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the Indian food processing market size reached INR 22,830 Billion in 2021. Looking forward, IMARC Group expects the market to reach INR 41,835.8 Billion by 2027, exhibiting a growth rate (CAGR) of 10% during 2022-2027.
With a geographical advantage, India is currently one of the largest producers and processors of milk, wheat, rice, sugarcane, tea, and various fruits and vegetables. The growth in the food processing sector and the simultaneous development of the value chain have become significant contributors in meeting the favorable terms of agricultural trade in both the international and domestic markets. In order to promote the food processing sector, the Government of India has recently launched an investor-friendly portal, called Nivesh Bandhu. It integrates Central and State Government incentives and policies for all stakeholders operating in the food processing sector including processors, logistics operators, farmers and traders. It also includes a “Food Map” which helps investors in making decisions based on the project location. These initiatives along with the consistently growing population and rapid urbanization are driving the demand for value-added products in the country.
COVID-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Get a Free Sample Copy of this Report: https://www.imarcgroup.com/indian-food-processing-market/requestsample
Indian Food Processing Market Trends:
In the past few years, the Government of India has identified food processing as a priority sector owing to which it has introduced several initiatives and reforms, such as 100% foreign direct investment (FDI) with automatic approvals and the Mega Food Park Scheme. The automatic approvals for foreign investments and technology transfer are being offered for milk and milk products, marine and meat products, and agricultural products. Under this reform, raw materials and capital goods for absolute export-oriented units have also been exempted from import duty. In addition, the industry has been facilitated with other tax exemptions such as nil excise duty on milk and milk products.
Apart from this, the Mega Food Park Scheme includes the construction of state-of-the-art support infrastructure in an agricultural or horticultural zone to establish modern food processing units with a well-established supply chain. The support infrastructure consists of primary processing centers, cold chain units, collection centers, central processing centers and various fully developed plots for entrepreneurs for setting up food processing units. At present, the Government has funded the construction of 42 Mega Food Parks amongst which 17 parks have become operational across the country.
Key Market Segmentation:
The report has segmented the Indian food processing market on the basis of sector and region.
Breakup by Sector:
- Dairy
- Fruits and Vegetables
- Meat and Poultry Processing
- Fisheries
- Packaged Foods
- Beverages
- Others
Breakup by Region:
- North India
- South India
- East India
- West India
Competitive Landscape With Key Players:
The competitive landscape of the Indian food processing market has been studied in the report with the detailed profiles of the key players operating in the market.
Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=1056&flag=C
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact US:
IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800
