- Indian food market expected to grow 47% to $1,274 billion by 2027.
- Tamil Nadu leads in exports of processed fruits, juices, and nuts.
- Emerging trends include innovations in technology and new food segments.
The Indian food market is projected to experience substantial growth, reaching $1,274 billion by 2027, driven by a 47% increase.
Tamil Nadu stands out in the food processing sector, holding significant shares in both quantity and value of processed food exports.
India’s Food Industry Poised for Growth with Projected $1.3 Trillion Market by 2027
The CII FACE-Danfoss India report forecasts a dramatic expansion of India’s food market, predicting a 47% growth to reach $1,274 billion by 2027. This forecast highlights the significant potential within the sector and reflects broader trends in the global food industry.
Tamil Nadu is identified as a crucial player in the sector, dominating the export market for processed fruits, juices, and nuts. With a notable 33% share in export quantities and 27% in value, Tamil Nadu’s contributions are pivotal to India’s food processing industry.
The study also points to the rise of innovative start-ups leveraging the latest technologies to drive industry growth. These advancements are essential for maintaining high standards of safety and quality, which are crucial for increasing India’s global food exports.
Released at CII-FoodPro 2024, the report provides valuable insights for businesses, especially those in Southern India, to navigate and capitalize on emerging trends. Key areas of opportunity include millets, ready-to-eat products, and plant-based dairy alternatives.
As India’s food market approaches a landmark growth trajectory, stakeholders are advised to focus on technological innovation and quality standards to maximize export potential and industry success.
“Technology remained the key to ensuring growth in the industry,” said Ravichandran Purushothaman, Chairman of CII National Council for Cold Chain and Agri Logistics.
