According to IMARC Group’s latest report, titled “Indian Food Processing Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the Indian food processing market reached a value of INR 30,938 Billion in 2020. Looking forward, IMARC Group expects the market to exhibit strong growth during 2021-2026.
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.
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.
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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.
Indian Food Processing Market 2021-2026 Segmentation:
Market Breakup by Sector:
- Dairy
- fruits and vegetables
- meat and poultry processing
- fisheries
- packaged foods
- beverages
On the basis of sector, dairy represents the largest sector, exhibiting a clear dominance in the market.
Market Breakup by Region:
- North India
- South India
- East India
- West India
Currently, West India is the biggest food processing market in India, holding the majority of the market share.
Competitive Landscape With Key Players:
The competitive landscape of the market has also been examined in the report and the profiles of key players have also been provided.
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Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Market
- Value Chain Analysis
- Structure of the Market
- 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.
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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.
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