What Is The Future Of The Food Industry? How Is It Evolving?

By Author: SolutionBuggy
Total Articles: 24
Comment this article

As India is an agrarian society, its contribution to world food trade increases every year, especially as it has immense potential in the food processing industry. India's food processing industry represents 32% of the country's total food market, making it one of the largest industries in India and the fifth in terms of production, consumption, exports and expected growth. The third anticipated estimate is that horticultural crop production is estimated at a record 314.7 million tons (MT) in 2018-19. Agricultural exports in fiscal year 2019 were US $ 38.54 billion.

India is the largest producer, consumer and exporter of spices and spice products. The Indian food retail market is expected to reach $ 894.98 billion in the coming years. The integrated food business in India is worth $ 48 billion, of which food distribution is worth $ 15 billion, which has enormous potential, and with all this in place will create a It was from hundreds of new food processing.

The Ministry of Food Processing Industries (MoFPI) is also looking for ways to assist the interests of the food processing industry. The Government of India ...
... has taken various initiatives to support food processing industries such as Food Processing Fund, Food Processing Fund, Make in India, Slaughterhouse Modernization Project, Mega Food Park Scheme and Pradhan Mantri Sasan Yojana (PMKSY).

The food industry sector as a whole has a great opportunity for progress in India, according to estimates by food market research advisers on food production or processing.