Packaging Solutions Are The New Sales Pitch
The Food Industry in India includes milk and milk products, plantation, alcoholic beverages, vegetables and fruits, fisheries, poultry and meat, grain processing, chocolates and confectionery, and the increased urbanization in the country has given a boost to the food industry in India. Thereby, given its immense potential for consumption the food sector especially the processed food segment has emerged as a high-growth and high-profit sector in India. Accounting for about 32 percent of the country's total food market, the Government of India has been instrumental in the growth and development of the food processing industry. The government through the Ministry of Food Processing Industries (MoFPI) is making all efforts to encourage investments in the business. It has approved proposals for joint ventures (JV), foreign collaborations, industrial licenses, and 100 percent export oriented units.
According to Mordor Intelligence Reports, the value of the food and beverage packaging market in India was estimated to be $33.22 billion in 2020, and it is anticipated that it will reach $156.25 billion by 2026, showing a CAGR of 29.88 percent throughout the duration of the forecast. While supermarkets and malls being opened all over the country are providing pleasurable experiences to the consumers, online food delivery players such as Zomato, Bigbasket, Swiggy, and others are building on business scaling through partnerships as the organized food business possessing vast potential and a promising future. As per a recent report, the Indian packaged food market is expected to double and expand up to $70 billion in the next 5-10 years. Moreover, the economic growth, demographic dividend and swelling e-Commerce market will definitely augment the growth of packaged food market. On the back of increased demand for packaged food, food processing industry is burgeoning prolifically, and there many Packaged Food Startups serving the demography with its quality products & offerings.
Understanding the current trends and opportunities, this issue of Startupcity magazine brings you a list of `10 Best Packaged Food Startups 2022' which were selected by comprehensive examination by industry CEOs, VCs, CXOs and our editorial board.
According to Mordor Intelligence Reports, the value of the food and beverage packaging market in India was estimated to be $33.22 billion in 2020, and it is anticipated that it will reach $156.25 billion by 2026, showing a CAGR of 29.88 percent throughout the duration of the forecast. While supermarkets and malls being opened all over the country are providing pleasurable experiences to the consumers, online food delivery players such as Zomato, Bigbasket, Swiggy, and others are building on business scaling through partnerships as the organized food business possessing vast potential and a promising future. As per a recent report, the Indian packaged food market is expected to double and expand up to $70 billion in the next 5-10 years. Moreover, the economic growth, demographic dividend and swelling e-Commerce market will definitely augment the growth of packaged food market. On the back of increased demand for packaged food, food processing industry is burgeoning prolifically, and there many Packaged Food Startups serving the demography with its quality products & offerings.
Understanding the current trends and opportunities, this issue of Startupcity magazine brings you a list of `10 Best Packaged Food Startups 2022' which were selected by comprehensive examination by industry CEOs, VCs, CXOs and our editorial board.
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