Indian Food and Beverages Market – Industry Analysis and Forecast (2024-2030)

The Indian Food and Beverages Market size was valued at US$ 332 Bn in 2023 and the total Indian Food and Beverages revenue is expected to grow at a CAGR of 11.05% from 2024 to 2030, reaching nearly US$ 691.47 Bn by 2030.

Food & beverages are India's fastest-growing industries, supported by a vast raw material base. India leads in producing milk, bananas, mangoes, and ranks second in wheat, rice, and fruits globally.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

India, the fastest growing economy in the world, is known for its rich and diverse culture and is a home to people from different religions and languages living together. Geographically also, India has varied climate and agriculture conditions. With these diversities, India offers a wide variety of traditional cuisines. These cuisines vary significantly geographically from north to south and east to west of India and are also influenced by local availability of spices, herbs, vegetables and fruits. These traditional cuisines are getting evolved over a period of time and are now served in different avatars, e.g., inclusion of new ingredients or flavors and change in the traditional preparation style.To know about the Research Methodology:-Request Free Sample Report

Food & beverages are considered as the fastest growing industries in India. The growth of the industry is supported by the availability of a large raw material production base. India is the largest producer of milk, bananas, mangoes, guavas, papaya, ginger, okra, second largest producer of wheat, rice, fruits, vegetables, tea, sugarcane and cashew nut and the third largest producer of cereals, coconut, lettuce, chicory, nutmeg, mace, cardamom and pepper globally.

Further, the increased affluence of the ever-growing working population with increase in disposable income, rising urbanization leading to changing lifestyles and less time to prepare food at home, increase in tourism in India and international travel, and increase in consumption of fast growing food and beverage segments during special occasions and celebrations are the factors that behind the growth of the Indian food and beverages market.

With India’s population skewed towards younger consumers, the majority of Indian consumption of food and beverages is driven by people between the ages of 18 and 40, which opens the opportunity for manufacturers to come with more varieties.

The government of India is pressing hard to make alternative ways for a strong industry for the food & beverage sector. The government is working on a strategy on the diversification of India's export basket in a bid to enhance its export presence in the top items of world trade as well as to increase the country’s outbound shipments, both in value and quantity.

Indian government has plans to introduce measures with a view to further facilitate the trade in this sector’s products. The Government has established 60 fully equipped Agri-Export Zones (AEZs), in addition to 42 mega food parks and 128 cold chains, to boost agricultural and food processing exports. In other words, there is a great potential to conduct business in India as the Centre of South East Asia as a trading hub in food and beverages sector.

India is growing as a market for new products such as breakfast cereals, pasta, infant food, bakery products, foreign liquor and different types of oils and sauces. Many international organizations have engaged with the India market by setting up manufacturing infrastructure here itself and understanding the market in depth.

The Food Safety and Standards Authority of India (FSSAI) has plans to invest about USD 72.3 million to strengthen the food testing infrastructure by upgrading food testing laboratories and setting up new mobile testing labs. With globalization and increasing trade across the borders (approximately about 460 Mn tons of food valued at USD 3 Bn is traded annually), India has, a great potential for trade in agricultural and processed food products. India’s Greater Integration with the economy, increasing export with an advantage of proximity to the key export destination and expected a spike in demand as emerging markets grow at fast pace.
Indian Food and Beverages Market Segment Analysis:
By Product Type, Dairy products play a crucial role in the Indian Food and Beverages Market, accounting for approximately 25% of the market share. As the largest producer of milk globally, India has a robust dairy industry that caters to a wide range of consumer needs, from basic nutrition to value-added products. The dairy segment includes milk, butter, cheese, yogurt, and other dairy-based items that are staples in the Indian diet. This sector's growth is driven by rising incomes, urbanization, and increasing health consciousness among consumers. The extensive distribution network, supported by both traditional and modern retail channels, ensures widespread availability across urban and rural areas. Additionally, the government's support through policies and subsidies further strengthens the dairy industry's infrastructure, contributing significantly to the overall growth and dynamism of the Indian Food and Beverages Market.
Indian Food and Beverages Market, Key Highlights:
Indian Food and Beverages Market analysis and forecast, in terms of value.

Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Indian Food and Beverages Market

Indian Food and Beverages Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.

Indian Food and Beverages Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.

Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.

Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Indian Food and Beverages Market are also profiled.
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Indian Food and Beverages Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 332 Bn.


Forecast Period 2024 to 2030 CAGR:
11.05%
Market Size in 2030:
US $ 691.47 Bn.


 Segments Covered:
by Product
Dairy Products
Fruits and Vegetables
Meat and Poultry
Bakery and Confectionery
Beverages (Alcoholic and Non-Alcoholic)
Others


by Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Specialty Stores
Online Retail
Departmental Stores



Indian Food and Beverages Market, Key Players
1. Nestlé India
2. PepsiCo India
3. GlaxoSmithKline
4. Haldiram Foods
5. Balaji Wafers
6. Britannia Industries
7. Patanjali
8. Dabur
9. Hindustan Unilever
10. Al Kabeer Exports
11. Bambino Agro Industries
12. Gits Food Products
13. Innovative Foods
14. ITC Foods
15. Ferrero India Pvt Ltd
16. Kwality
17. Parle Agro Pvt Ltd
18. Kohinoor Foods
19. McCain Foods
20. Merino
21. MTR Foods
22. Venky's
Frequently Asked Questions:
1. Which region has the largest share in Indian Food and Beverages Market?
Ans: India region held the highest share in 2023.

2. What is the growth rate of Indian Food and Beverages Market?
Ans: The Indian Food and Beverages Market is expected to grow at a CAGR of 11.05% during forecast period 2024-2030.

3. What is scope of the Indian Food and Beverages market report?
Ans: Indian Food and Beverages Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Indian Food and Beverages market?
Ans: The important key players in the Indian Food and Beverages Market are – Nestlé India, PepsiCo India, GlaxoSmithKline, Haldiram Foods, Balaji Wafers, Britannia Industries, Patanjali, Dabur, Hindustan Unilever, Al Kabeer Exports, Bambino Agro Industries, Gits Food Products, Innovative Foods, ITC Foods, Ferrero India Pvt Ltd, and Kwality

5. What was the Indian Food and Beverages Market size in 2023?
Ans: The Indian Food and Beverages Market size was USD 332 Billion in 2023.