International Exhibition on Food Products, Retailing, Processing & Packaging
India is the second-largest producer of food and has the potential to be the largest on a global food and agriculture canvas. The food processing industry is ranked fifth in terms of production, consumption, export and expected growth. The Indian food processing industry accounts for 32% of the country’s total food market, one of the largest industries in India and is ranked fifth in terms of production, consumption, export and expected growth.
The Indian food processing industry contributes around 14% of manufacturing Gross Domestic Product (GDP), 13% of India’s exports and 6% of total industrial investment. Indian food service industry is expected to reach US$ 78 billion by 2018.The Indian gourmet food market is currently valued at US$ 1.3 billion and is growing at a Compound Annual Growth Rate (CAGR) of 20%. India’s organic food market is expected to increase by three times by 2020.
The developments in the food processing sector are of enormous significance. It has efficiently and effectively linked the nation’s economy, industry and agriculture synergizing the development process and promoting the growth of the nation to a great extent. The Indian food processing industry is primarily export orient as India’s geographical situation gives a unique advantage of connectivity to Europe, the Middle East, Japan, Singapore, Thailand, Malaysia and Korea.
India’s exports of Processed Food are of Rs. 27,257.69 crore in 2017-18. Retail, one of the largest sectors in the global economy (USD 7 Trillion), is going through a transition phase in India. Globally more than 72% of food sales occur through super stores. India presents a huge opportunity and is all set for a big retail revolution.