Product Code: ETC381984 | Publication Date: Aug 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India food and beverages market import shipment demonstrated robust growth with a notable CAGR from 2020 to 2024. However, there was a significant decline in growth rate between 2023 and 2024, indicating a slowdown in the market expansion. Overall, the market trend shifted from rapid expansion to a more stable phase by the end of the period.
The food & beverage industry is one of the largest industries globally with an estimated market size worth around US$110 billion dollars (as per FY20 estimates). In India alone it boasts a staggering value close o US$600 billion dollars making it one off he most prominent sectors operating within its boundaries. Apart from having presence across various industries like processed foods , dairy products etc., rapid urbanization combined with changing lifestyles represent two key drivers that spur its continued emergence. Additionally technological advancements allowing companies come up with innovative solutions ensuring convenience whilst catering too customer demands also play an integral role when discussing factors propelling development. Finally growing concerns regarding health alongside burgeoning middle class population provides ample opportunities that could fuel future prospects ensuring sustained success far into foreseeable future.
The food and beverages market in India is experiencing substantial growth due to various factors such as the expanding middle-class population, rising disposable income, and changing consumer preferences. Additionally, the increasing urbanization and a shift towards convenience and packaged foods have contributed significantly to the market`s expansion. Furthermore, the introduction of innovative food products, the emergence of e-commerce platforms, and the growing foodservice industry are driving the demand for a wide range of food and beverage products in the country.
The food and beverages market in India is a dynamic and rapidly growing sector, presenting both opportunities and challenges. The country`s diverse and culturally rich cuisine attracts consumers from various backgrounds. However, there are some significant challenges faced by this industry.
The COVID-19 pandemic significantly impacted India food and beverages market. With lockdowns and restrictions in place to curb the spread of the virus, the sector faced disruptions in supply chains, transportation, and distribution. Restaurants, hotels, and eateries experienced a sharp decline in demand due to reduced consumer footfall. The closure of the hospitality industry had severe implications for producers and suppliers as bulk orders were canceled.
India food and beverages market is a rapidly growing industry that has attracted numerous key players. Some of the major companies operating in this sector include Nestl? India, Britannia Industries, Parle Agro, Dabur India, Amul, PepsiCo India, Coca-Cola India, ITC Limited, and Godrej Consumer Products Limited. These companies have established a strong presence in various segments of the food and beverage market, offering a diverse range of products and brands to meet the evolving consumer demands in the country.