In terms of production, consumption, export, and growth prospects, the Indian food processing industry is one of the largest in the world. With the emergence of new markets and innovations, the sector has widened its reach. Mass-scale production of ready-to-eat food, drinks, processed and frozen fruits and vegetables, marine and meat products, etc., has been able to meet the growing worldwide demand for food. Establishing post-harvest infrastructure in the form of cold storage facilities, food parks, packaging centers, value-added centers, and irradiation facilities has helped preserve food for rising worldwide food demand.
While billions of people in the country continue to celebrate festival after festival, the food industry is on a high. Fueled by what can be considered a perfect ingredient for any industry — high disposable incomes — the food sector has witnessed a marked change in patterns of consumption, especially in food terms. The current size of the Indian food industry is around $40 billion and is expected to grow by 27% – 30% and will need double-fold growth over the next 3 years, taking into account today’s rising demand trend.
In addition to this, there are other motivating factors for setting up the food industry in India such as a vast source of raw material, a switch from conventional food grain farming to horticulture, India’s vast population out of which much of the urban middle class is shifting their food habits significantly, low cost of production, shifts in consumption patterns, implementation of food parks and attractive fiscal incentives by the government.
The generic steps of establishing industry in this sector can be summarized below: