Value of Indian food industry to reach $535 billion by 2025

Value of Indian food industry to reach $535 billion by 2025

Bangalore, September 24 (KNN) India’s food industry is poised to grow exponentially, growing at an 11% CAGR currently, with an expected output of $535 billion by 2025, said Yogesh Mudras, managing director of Informa Markets India. .

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While speaking to Food Ingredients India (Fi India) and ProPak India by Informa at the Bangalore International Exhibition Center (BIEC), Mudras said, “The COVID-19 pandemic has accelerated a significant change in eating habits, including including consumer buying preferences, consumption habits and overall behavior. Greater awareness of possible food-related health issues has led to a growth in demand for health and wellness products and ingredients. These trends have created a wide range of ingredient uses.

Speaking about the food ingredients industry, Alok Kumar Srivastava, President of Association of Food Scientists & Technologists India (AFSTI) said, “Over the next 30 years, the world will add more than 1.5 billion people, and we all know who is going to feed this population. Food security is also an issue where India can easily become the food factory of the world.

India’s agriculture and food industry is valued at around $450 billion and growing at 12-14%, much faster than the economy.

Fi India and ProPak India enabled all stakeholders to discuss the food ingredients and packaging ecosystem and emerging trends in these sectors.

It has jointly purchased the country’s leading food and beverage ingredient suppliers and specialists in research and development, production and packaging to present the most diverse range of new and innovative ingredients and services. .

The event saw the participation of 250 leading companies, over 1000 brands, 35 speakers and over 7000 visitors from across the industry, reaffirming the need and direction for an industry event to stimulate and facilitate food, health ingredients and packaging sectors. (KNN Office)

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