According to the latest research report, “Indian Food and Drinks Market: Emerging Opportunities”, by RNCOS, buoyed by the growing domestic demand, rapid urbanization and a growing middle class population, the Indian processed food industry is projected to experience rapid growth in near term. “The Indian food processing industry will not be affected by the current economic crisis as food like milk, fruits and vegetables are the basic necessity for human survival”, says an analyst at RNCOS.
The industry will continue to see fast growth as the domestic consumption of processed food remains low, mainly due to large rural population with low per capita income and conventional consumption habits. However, changing consumer demographics and an anticipated shift in consumption practices led by western cuisine, particularly among the youth, will drive the Indian food processing industry in the next few years, says the report.
Rising urbanization and income levels are also helping the Indian food processing industry to prosper. The research indicates that demand pattern for food in urban India largely differs from that of rural India. This is mainly in part due to the fact that urban people generally have higher purchasing power and this leads to greater demand for high-value processed food. Additionally, rapid evolvement of modernized food retail formats, including hypermarkets, supermarkets and mega retail food stores in malls, is also propelling the processed food market. Such stores facilitate greater exposure and visibility of processed food to consumers, and offer quality and hygienic services.
Apart from the Indian food processing sector, “Indian Food and Drinks Market: Emerging Opportunities” also gives extensive analysis on various other sectors, such as packaged food, functional food and storage facilities. It also describes government and investment policies fuelling growth in the food and drinks market of India. The research highlights various opportunity areas coupled with briefing on the factors which are blocking the market growth and require immediate attention.
Besides this, the report provides extensive research and prudent analysis on various food & drinks segments, including wine, processed food, organic food and snack food, and analyzes the basic food and drinks consumption trends of Indian consumers.
For more information visit: http://www.foodsectornews.com/Report/IM141.htm |
