(Entertainment-NewsWire.com, January 09, 2018 ) The fruit and vegetable processing industry in India is estimated to grow at a CAGR of 10.8% between FY 2015 and FY 2020. The food processing sector is critical to India as it contributes to the economy, increases agricultural yields, creates employment and raises life-standards of people across the country, especially in rural areas.
According to our latest report Fruit & Vegetable Processing Industry in India 2017, although processing of fruits and vegetables in India has been low, with less than 2% of the total fruits and vegetables produced in the country being processed, the rising income and resultant increased spending on food items has ensured that processed fruits and vegetables consumed in the country has continued to grow.
Fruit & Vegetable Market in India-Key Growth Factors Changing lifestyle and rapid urbanization is playing a major role in the development of this industry. Moreover, growing presence of organized retail outlets in the country is making processed food products more readily available to consumers. Also, availability of large shelf space in these retail stores is helping companies to market a wider variety of products.
The National Mission on Food Processing, a centrally sponsored scheme launched by MoFPI, is promoting the development of facilities for post-harvest operations in the country. Support from the government and increasing adoption of processed foods in the country will help the market for processed fruits and vegetables to grow strongly over the next five years.
Fruit & Vegetable Market in India-Threats and Key Players Gaps in the supply chain is a major problem being faced by the industry. Lack of proper storage and distribution facilities in the country hampers growth in the market. Moreover, a lot of consumers still prefer fresh fruits and vegetables over processed varieties. This acts as a hindrance to the industry's growth. However, the Government of India is focused on developing the food processing sector in the country and reducing infrastructural hurdles that is currently impacting the sector.
Some of the key players in the industry include Dabur India Ltd., ITC Ltd., Hindustan Unilever Ltd., Mother Dairy Fruit Vegetable Pvt. Ltd., Freshtrop Fruits Ltd. and Fieldfresh Foods Pvt. Ltd.
What's covered in the report-
Overview of the fruits and vegetable processing industry in India, and historical and forecasted market size data over FY 2012 to FY 2020 Trade analysis of processed fruits and vegetables in India Qualitative analysis of the major drivers and challenges affecting the market Key recent developments in the fruits and vegetable processing industry in India Analysis of the competitive landscape and profiles of major public and private players operating in the market
Get a broad understanding of the fruit and vegetable processing industry in India, the dynamics of the market and the current state of the industry Devise market-entry strategies by understanding the factors driving the growth of the market Identify key growth opportunities in the industry and make informed decisions to increase profitability Understand major competitors' business and market dynamics, and respond accordingly