Food Processing Business Ideas in India

Food Processing Business Ideas in India

Food processing is a system or procedure used by both humans and animals to convert raw foods into well-cooked and well-preserved eatables.

Raw, clean, processed crops or slaughtered and butchered animals are used in food production and converted into food items for everyday use. A variety of products are easy to prepare, nutritious and have a long shelf life. They are packaged in an enticing way and are incredibly marketable.

The food processing sector is responsible for agricultural diversification, improving value-added opportunities and producing excesses that can be exported. In terms of demand, use, export, and growth, India's food processing industry is one of the world's largest. The sector has enormous potential to add to the country's prospects for development and jobs.

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Food Processing Business in India- An Overview

With India going from a condition of shortage to a surplus in terms of food production, there are endless opportunities to increase the amount of food processing. In recent years, India's food processing industry has been known for its fast growth and high earnings, thus growing its contribution last year to the world food trade.

The food processing sector has been recognised by the Government of India as a high priority industry and is currently being promoted with various fiscal relief and incentives.

By 2025-26, the Indian food industry's production is forecast to hit $ 535 Bn6. Any of the main drivers of this demand are currently increasing household incomes, urbanization and the rise of organized retail.

Indian Food Processing Market : Key Drivers

There is little time left for cooking and food planning, with a growth in urban working culture and quick-paced lifestyles. Thus, packaged foods such as ready-to-eat items and snacks, especially in urban areas, have become very popular. Indian annual household intake is expected to treble by 2030, making India a suitable market for packaged food consumption.

Furthermore, both in urban and rural areas, the proportion of working women in the sector has been gradually rising.

In the development of the food processing industry, four main factors play a role:

1. Powerful domestic demand: lifestyle and eating preferences shift because of higher discretionary income

2. Supply side advantages: a high degree of agricultural production - a strong cattle base, a diverse range of crops, inland bodies of water and a long coastline, helping to increase coastal production.

3. Export opportunities: proximity to primary destinations for export, greater alignment with the global economy

4. Proactive strategy and promotion by the government.

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Leading Food Processing Business

1. Soy flour

Soy flour is obtained by soybean grinding. It is a rich source of protein and is commonly used as an ingredient in the food industry for the preparation of baking products, snacks, infant foods, cereals and pet food.

2. Starch Derivatives

The demand for starch derivatives is forecast at USD 50.9 billion in 2020 and is expected to hit USD 61.5 billion by 2025, with a value-based CAGR of 3.9 percent.

Due to the growing inclusion in a wide range of food applications and the cost-effectiveness provided by them, along with the enhanced functionalities they provide compared to native starch, it is experiencing substantial development.

Demand for starch derivatives is created by the rising demand among customers for processed and convenience food.

3. Tomato Sauce

There is good growth in India's tomato processing industry. India is the second biggest producer of tomatoes in the world after China and now accounts for 11% of total world tomato production.

Facility, longer shelf life, Urbanization, changing food preferences, growth in the organized retail sector,etc are all other factors that drive the tomato processing market in India.

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4. Instant Noodles

The global market share for instant noodles is estimated to grow to USD 72,69 billion by 2027 and a CAGR of 5.9% by 2020 to 2027. This is due to the rising number of medium-sized people who are driving global demand for inexpensive noodle goods.

5. Banana Wafers

With an annual production of 24.8 million tonnes, India is the world's largest banana producer. In 2016, the country's banana exported totals 11.8 billion US dollars.

Banana, with 97,5 million tons of production, is an important worldwide fruit crop. In India the livelihood of millions of people is assisted by 16,91 million tonnes, with a gross annual production of 490,70 thousand hectares.

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