Research On Global Markets
Syndicated Market Research Report
The food processing industry plays a crucial role in influencing the agricultural and distribution practices of the country. Currently, one of the primary focus sectors under the Make in India initiative, the market for food processing in India acts as a major contributor to the economic and social growth of India. The food processing Industry in India is one of the largest industries in the country, ranking fifth in terms of production, consumption, and exports. The market for processed food is expected to expand at a compound annual growth rate (CAGR) of ~11.5% between FY 2018 and FY 2023 to reach a value of INR 15,971.9 Bn in FY 2023. Favorable conditions such as diverse agro-climatic conditions, governmental initiatives, and food infrastructure, among others,ares responsible for making India one of the largest food processing hubs. The Indian food and beverage industry are segmented into 10 segments- dairy food, bakery, confectionery, ready meals breakfast cereals, organic food, naturally healthy beverages, pet food, and savory snacks. Breakfast cereals and savory snacks are expected to expand at a CAGR of ~19.23% and ~33.59%, respectively from 2018 to 2023. These segments are popular among all age groups in the country, and the positive response to them is encouraging new and old players to expand their production and distribution activities. Request for Sample of this Report@ https://www.researchonglobalmarkets.com/food-processing-market-in-india-2018-2023.html Research institutions like the Central Food Technological Research Institute (CFTRI), National Research and Development Center (NRDC), National Dairy Research Institute (NDRI), and Central Institute of Fisheries Technology (CIFT) provide the much-needed support to food processing market In India. This industry is responsible for creating multiple employment opportunities as well as investment opportunities in retails, farming, quality control, and infrastructure. High cost in processing the food acts as a key deterrent to the growth of the market. The price paid by consumers for processed food in.
0 Comments
Leave a Reply. |
Archives
December 2019
Categories
All
|