India is one of the global leaders in the food and beverage industry. A consumer base of over 1.3 billion people, strong macro-economic indicators and growing disposable income have led to increasing consumption of processed/ packaged food and beverages.
Ten high-growth segments of the Indian food and beverage industry which have recorded double digit growth and are expected to do so in the foreseeable future, are breakfast cereals; savory snacks; ingredients; naturally healthy beverages; ready meals; confectionary; organic food; dairy food; bakery and pet food. For instance, as per the Globaldata Research Reports, savory snacks grew at an impressive CAGR of 29.04% during the period 2010-15 while breakfast cereals grew at 21.28% and confectionary at 17.22% during the period 2011-16.
This evidences India as one of the most critical growth markets globally for each of the segments providing attractive growth opportunities, which multinational food companies cannot afford to ignore. The report provides insights about the potential key demand drivers for these 10 high-growth segments. It was released at the World Food India 2017 held from 3 - 5 November at New Delhi.