Food market expected to grow 47% to $1.3 billion

NEW DELHI: The country’s food processing market is likely to grow by over 47% to $1.274 billion by 2027, according to a report released by the Confederation of Indian Industry and supported by Danfoss India. The food processing industry is witnessing the emergence of innovative start-ups with cutting-edge technology, said the report titled ‘Food Processing Sector in India – Potential for Southern States’ released by CII, CII FACE (Confederation of Indian Industry – Food and Agriculture Centre of Excellence) and Danfoss India.

Danfoss India is a leader in heating, ventilation and air conditioning. It is a subsidiary of the Danish engineering giant Danfoss.

Among the most important points of the report was the potential of the Southern states for the food processing industry.

“Tamil Nadu is the leading exporter of processed fruits, juices and nuts in India with a 33 per cent share in volume and 27 per cent share in value, exporting 2,08,370 metric tonnes worth USD 220.81 million during 2023-24,” the report said. The Indian food processing industry is witnessing the emergence of innovative startups with cutting-edge technology, the report said.

The study provides information on emerging trends, technologies and export opportunities, enabling businesses to make informed decisions and exploit the potential of the sector.

The food processing sector in South India is at the threshold of a revolution, with innovative segments like millets, ready-to-eat and plant-based dairy alternatives opening up a treasure trove of economic opportunities for farmers. The report released today reveals that technology is key to boosting this growth, ensuring the highest standards of safety and quality, and taking India’s exports to the global stage,” said Ravichandran Purushothaman, chairman, National Council for Cold Chains and Agro Logistics, CII. “We at Danfoss India are excited to be a part of this transformational journey, driving sustainable food processing solutions that will shape the future of Indian agriculture and food sector,” he said in a statement on Saturday.