India’s food & grocery market is the 6th largest in the world. Indian food sector is a high-growth sector with immense potential for value addition. It is expected to touch US$ 482 billion by 2020. The food processing industry in India accounts for 32% of the country’s total food market & 14% of the manufacturing GDP. It is estimated that the food processing sectors have the potential to attract US$ 33 billion investment in next 10 years.
Increased inflow of foreign tourists and business visitors, as well as exposure of the Indian middle class to foreign lands, are among the major reasons leading to growing demands for foreign cuisine and ingredients. With the government keen on promoting value addition in the food sector, Indian companies too have taken the initiative in a big way, resulting in a growing domestic demand for processed food.