Food Industry in India
About Food IndustryFood Industry in India comprises of various segments like fisheries, plantation, fruits and vegetables and confectionery to name a few. Food Industry in India has grown over the last few years and it is expected to be worth more than US$ 310 billion by 2015.
Details of food industry in India:India is the second biggest food producer in the world and it has the potential to become the largest producer of food in the whole world. Food Industry in India includes milk and milk products, plantation, alcoholic beverages, vegetables and fruits, fisheries, poultry and meat, grain processing, chocolates, and confectionery.
The Food Industry in India exported products worth around US$ 5.8 billion in 1998 while the total world food export stood at US$ 438 billion. This shows that although India is one of the biggest food producers in the world, it accounted for only 1.5% of the international trade in food as in 1998.
Reasons for the growth of the food industry
- Increased urbanization in the country has given a boost to the food industry in India.
- Majority of the women in the country are working as a result of which families have extra income which they are spending in buying food.
- The standard of living in the country has improved as a result of which there has been an increased demand for food.
- Supermarkets and malls have opened all over the country and this has helped in making shopping for food a pleasurable experience.
- The consumers can select, inspect and pick up food items that they like in an ambience that is comfortable. This too has helped to boost the sale of food products in the country
Major companies in the food industry
- Nestle India Ltd.
- Kelloggs India
- Cadbury's India Ltd.
- MTR Foods Ltd.
- Hindustan Lever Ltd.
- Godrej Foods