INDIAN FOOD PROCESSING INDUSTRY AT A GLANCE IN 2022 - 2023
India is a major producer of food in the world, with a large and growing consumer market as well thanks to the rising population . The food and grocery retail market is valued at US$ 11.3 trillion for the current fiscal. India is also among the largest food market in the global economy.
India's food processing sector is also a growing industry in recent times. Major processed food products exported from India include processed fruits and juices, pulses, guar gum, groundnuts, milled products, cereals preparations, oil meals and alcoholic beverages.
Food ExportsIndia exported agriculture and processed food products worth US$ 25.6 billion in FY22 .
Furthermore, exports of processed fruits and vegetables grew by 59.1%; cereals and miscellaneous processed items grew by 37.66%; meat, dairy and poultry products grew by 9.5%; basmati rice grew by 25.5%; non-basmati rice grew by 5%; and miscellaneous products grew by 50% in the last financial year.
The export of processed vegetables and fruits increased by 59.1% in 2022. Other agricultural products such as cereals saw an increase of 37.66% in their export, while basmati rice exports increased by 25.5%
Foreign direct investment (FDI) in India was estimated at Rs. 2,934.1 crore (US$ 368.8 million) in FY22.
Industry ForecastThe Agricultural and Processed Food Products Export Development Authority (APEDA) forecasts that the sector will grow at a compounded annual growth rate (CAGR) of 3% between 2022 and 2030.
By 2025 the Indian Food Processing market is estimated to reach $ 535 bn and growing at a compound annual growth rate of 15.2%.
India’s consumer spending is to grow to $6 Tn by 2030.
India’s food processing sector is one of the largest in the world and its output is expected to reach $535 Bn by 2025-26.
