Top 4-Profitable food business ideas in India
Food processing is a new and emerging industry in India that has grown by leaps and bounds due to a large interest in setting up mega food parks by the government both as fully government-owned and in the PPP model. The availability of a large number of food consultants as well as increasing the resources and knowledge available for a new entrepreneur looking to set up a manufacturing unit.
Here is a list of the top 4 food processing business ideas that new entrepreneurs are working to set:
1. Potato powder and chips making
Sliced, thin, and fried potato chips are very popular ready-to-eat snack items. Potato is one of the easily available vegetables also. And potato chip-making process is simple. And it involves simple machinery. The global potato chips market is expected to grow at a CAGR of 4.3%, during the period 2017-2022, to reach a market value of USD 40.3 billion by 2022. The introduction of healthier alternatives, like low-fat and low-sodium chips, in the emerging markets has helped to grow this industry.
Potato powder is increasingly being used in a variety of food preparations like snack foods, soups, curries, and other dishes as a thickening agent. However, potato powder manufacturing is capital-intensive. You will need to obtain FPO and Pollution Control Board permission before commencing the business. The government has set up an Operation Greens scheme to boost the production and processing of Tomatoes, onions, and potatoes in their respective cultivation regions to ensure good usage and avoid price volatility of these crops.
2. Dairy processing
India is the world’s largest milk producer with 163.7 million MT of milk produced annually. It has the largest and fastest-growing dairy market due to the huge bovine population. This has given rise to many milk processing units in the small and medium scale setups which are easy to start and can avail good government subsidies. Uttar Pradesh, Rajasthan, and Gujarat are the largest milk-producing states in India and have given rise to dairy milk unions, private dairy plants, and primary milk cooperative societies. With a large demand for milk-related protein powders, dairy processing, and beverage consultants are helping the new industries in this sector to attain fast growth.
3. Spice Processing
Any food processing consultant can tell you that this is the most profitable food processing idea as India is the largest producer of several spices such as ginger, chili, turmeric, and cumin. Based on the raw materials required this sector qualifies as a micro and medium-scale manufacturing business idea. With a lot of food consultants in all parts of India now helping entrepreneurs set up spice processing units, there is a huge demand for this sector.
4. Tomato Processing
with tomatoes available in all states of the country there is a good demand for processed tomato products in the global markets from India. Tomatoes are used in the preparation of soup, salad, pickles, ketchup, puree, and sauces. Only the ketchup and sauce market in India is pegged at Rs 1,000 crore and growing at around 20% year-on-year. There is ample scope for a unit to come up in this product sector to cater especially to the suburban and rural sectors of India. With very minimal regulatory requirements and good subsidies doled by the current government in the Operations Greens scheme, there is a large interest from new entrepreneurs wanting to enter this segment.
Overall there are a lot of opportunities in the food processing sector in India but the food consultant will be the best person to select the best opportunity and weigh the pros and cons based on the location of the plant and the budget. You can get in touch with experts at SolutionBuggy. It is a unique platform connecting 50000+ manufacturing industries with over 5000+ experts from various industries. Get expert advice and be the best in your industry!!
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