India is the second largest food producer in the world after China. It's estimated that food-processing industry in India will double up over the next decade. Also, huge investment opportunities exist in the food processing technology, and equipments industry, particularly in the areas of Dairy & Food Processing, Canning, Packaging, Thermo Processing, Frozen Food or Refrigeration, and Specialty Processing.
Indian food processing sector is among the largest sectors in terms of production, consumption, export and growth prospects. Also, the government of India has made the commercialization of the country's food processing sector the first priority, with various fiscal incentives. So, there's a vast scope for the companies willing to invest in the food processing & packaging sector- a sector that's growing 15%-20% annually. Increased literacy rate, change in lifestyle, and mass media promotion are amongst the major contributors to the growing demand of processed food in the country.
One of the major challenges before the food processing industry in India, currently, is the lack of proper infrastructure. Only two percent of agricultural produce is estimated to be preserved for processing in India, currently, due to the lack of storage facilities. While in US, the about seventy percent of agricultural produce is processed at present.
According to many industry experts, Indian food processing industry is a sleeping giant and government initiatives will definitely encourage the rapid growth in this sector.
For further information about Indian Food Industry please read the report "Food Processing Market in India (2005)" published by RNCOS http://www.rncos.com/Report/FB15.htm
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