NEW YORK, Feb. 26, 2018 (GLOBE NEWSWIRE) -- Food and Beverage processing industry has shown significant growth globally and in India. Food processing industry is one the fastest growing industries in India. Currently the industry is growing at CAGR of 11%. In 2014, Food and Beverage processing industry was worth US$39.71 bn and is expected to reach US$125.15 bn by 2025.
Over the coming years, the Industry would like to grow exponentially as in India around 51% of the total income is getting spend on Food and Beverages items which is significantly higher than healthcare, education, transport, clothing, etc.
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Food and Beverages Processing Market to remain one of the Most Valued Industry
The Food and Beverages Processing Market is one of the most vibrant industries exponential growth in the recent past and continues to expand rapidly. Food and Beverage Industry ranks 2nd globally in terms of production. Main reasons are changing demographics, urbanization and growth of organised retail, increase in disposable incomes. Food processing industry basically divided into two sectors organised and Un-organised. Un-organised Food and Beverages sector dominantly covers around 70% of the market while Organised sector contributes only 30 %.Food industry segments such as quick service restaurants, fine dining, casual dining, cafes have large number of consumers.
Primary food processing is heavily dominated by unorganized sector. Secondary sector is semi organized having presence of both unorganized and organized sector, while Tertiary processing is heavily dominated by organized sector as the products of this sector are used for export. Food expenditure contribute around 51% on income and with an increasing young population, eating out is growing very rapidly. Brands/ chains of both Indian and MNC brands are still not found deep penetration into the market and hence there lies huge opportunities to create bigger restaurants chains.
India is about to become leader in Food and Beverages Processing Market
Geographically, among USA, China, Brazil, India and Russia which are largest producers of Food and Beverages, India ranks 2nd with contribution of 10.76% of total production. With more than 65% of population under 35 years age India will likely to take over China by 2025 in terms of Food consumption. India has become largest exporter of Food and Beverages products in Southeast Asia and Middle East. India’s biggest exporter of Food and Beverages are
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- Pakistan
- Latin America
- Brazil
- Middle East and Africa
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