India Packaged Food Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 7.08% (2024-2032)
Market Size in 2023: USD 113.9 Billion
Market Size in 2032: USD 210.81 Billion
The packaged food industry in India is rapidly growing, driven by urbanization, convenience demand, and rising disposable incomes. According to the latest report by IMARC Group, the market reached USD 113.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 210.81 Billion by 2032, exhibiting a growth rate (CAGR) of 7.08% during 2024-2032.
India Packaged Food Market Trends and Drivers:
The advancing consumer lifestyles as well as expanding urbanization are the factors responsible for the growth of the India packaged food market. Additionally, as more people lead busy lives, there is a growing demand for convenient and ready-to-eat food options, which has significantly boosted the packaged food sector.
Besides this, the rise in disposable incomes and a shift towards nuclear families contribute to the increased consumption of packaged foods. Consumers are also becoming more health-conscious, increasing the need for healthier packaged options, such as low-calorie snacks, organic foods, and fortified products. This shift encourages manufacturers to innovate and introduce products that cater to these evolving preferences.
Key trends in the India packaged food market include the growing emphasis on product innovation and diversification. Companies are expanding their portfolios to include a variety of flavors, formats, and health-oriented products to meet the diverse tastes and preferences of Indian consumers. The market is also witnessing a rising trend towards premiumization, with consumers willing to pay more for high-quality, branded, and specialty packaged foods.
Another significant trend is the rise of e-commerce, which has made packaged foods more accessible to consumers across the country, particularly in Tier-2 and Tier-3 cities. Furthermore, the increasing awareness of food safety and hygiene is driving demand for packaged foods, as they are perceived to be safer and more hygienic than loose or unpackaged alternatives. The growing influence of Western food habits and continuous product innovation is expected to drive the growth of the India packaged food market in the coming years.
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India Packaged Food Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Product Type:
- Bakery Products
- Dairy Products
- Beverages
- Breakfast Products
- Meals
- Others
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Convenience Stores
- Online Retail Stores
- Others
Breakup by Region:
- North India
- West and Central India
- South India
- East and Northeast India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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