India Food Industry
Indian Food Industry Last Updated: June 2013
Introduction
The Indian food industry has witnessed strong growth over the past few years. India is the world's second largest producer of food next to China, and has the potential of becoming the biggest producer in the years to come. The total food production in India is likely to double in the next ten years.
Indian food service industry is currently worth Rs 2,47,680 crore (US$ 41.39 billion) and is expected to grow at the rate of 11 per cent to touch Rs 4,08,040 crore (US$ 68.16 billion) by 2018, according to 'India Food Service Report 2013' by the National Restaurant Association of India (NRAI).
With a huge agriculture sector, abundant livestock, and cost competitiveness, India is fast emerging as a sourcing hub of processed food. Moreover, India's market for organic food consumption has also been recognised as one with the largest potential worldwide, as per RNCOS research report titled, 'Indian Organic Food Market Analysis'.
Key Players Ruchi Soya Industries, India's leading food and agro-based FMCG player, has inked a joint venture (JV) with J-Oil Mills Inc and Toyota Tsusho Corporation (TTC), both from Japan. The JV plans to start supplying products to the institutional customers by the end of 2013 Mini Melts has tied up with HoneyBee Amusements for a foray in to India's Rs 2,500 crore (US$ 417.59 million) organised ice cream market ITC will invest Rs 1,000 crore (US$ 167.03 million) in food and consumer goods sector in India in the next two to three years Costa Coffee plans to add 200 more outlets with an investment of Rs 200 crore (US$ 33.41 million) by 2015, to expand its presence in India Cargill will invest about Rs 400 crore (US$ 66.80 million) to set up a corn milling plant in Karnataka, and another Rs 100 crore (US$ 16.70 million) on expansion of capacity of existing edible oil plants, as per Siraj Chowdhury, Chairman, Cargill India Twinings India, a subsidiary of the
Introduction
The Indian food industry has witnessed strong growth over the past few years. India is the world's second largest producer of food next to China, and has the potential of becoming the biggest producer in the years to come. The total food production in India is likely to double in the next ten years.
Indian food service industry is currently worth Rs 2,47,680 crore (US$ 41.39 billion) and is expected to grow at the rate of 11 per cent to touch Rs 4,08,040 crore (US$ 68.16 billion) by 2018, according to 'India Food Service Report 2013' by the National Restaurant Association of India (NRAI).
With a huge agriculture sector, abundant livestock, and cost competitiveness, India is fast emerging as a sourcing hub of processed food. Moreover, India's market for organic food consumption has also been recognised as one with the largest potential worldwide, as per RNCOS research report titled, 'Indian Organic Food Market Analysis'.
Key Players Ruchi Soya Industries, India's leading food and agro-based FMCG player, has inked a joint venture (JV) with J-Oil Mills Inc and Toyota Tsusho Corporation (TTC), both from Japan. The JV plans to start supplying products to the institutional customers by the end of 2013 Mini Melts has tied up with HoneyBee Amusements for a foray in to India's Rs 2,500 crore (US$ 417.59 million) organised ice cream market ITC will invest Rs 1,000 crore (US$ 167.03 million) in food and consumer goods sector in India in the next two to three years Costa Coffee plans to add 200 more outlets with an investment of Rs 200 crore (US$ 33.41 million) by 2015, to expand its presence in India Cargill will invest about Rs 400 crore (US$ 66.80 million) to set up a corn milling plant in Karnataka, and another Rs 100 crore (US$ 16.70 million) on expansion of capacity of existing edible oil plants, as per Siraj Chowdhury, Chairman, Cargill India Twinings India, a subsidiary of the