Food processing market in India to reach $470 billion by 2025: Report
As per a report by KPMG, amid the ongoing pandemic could drive tremendous growth in the food processing industry in India. The Indian food processing industry could reach $470 billion in 2025.
The growth is expected to be driven by tier-II and tier-III cities, which are going to adopt the trend of bigger cities of buying more processed food as habits formed by the pandemic owing to lockdowns, curfews and prevalent work from home culture.
The report added that an increase in cold storage, digitized supply chain, and smart warehousing is required to tap the full potential of the food processing industry.
There is an imminent need of enhancing cold storage capacity in the absence of which scalability of perishable products has been challenging. Digitized supply chain, smart warehousing, and logistics using industry 4.0 technologies can help India reduce wastage during storage and transit.