India's food processing sector powers jobs and growth, contributes 7.7% to manufacturing: Deloitte-FICCI Report
Deloitte-FICCI report
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Valued at USD 160 billion, the sector is enabling rural industrialisation and reducing post-harvest losses, while gaining momentum from rising rural demand, digital transformation, and policy support. As per the report, the agriculture and food processing value chain now accounts for nearly 30 per cent of the national food market.
'India's agri and food processing sector is on the brink of a transformative leap, where tradition meets cutting-edge technology to build a future-ready food ecosystem,' said
Anand Ramanathan
, Partner & Consumer Industry Leader, Deloitte South Asia.
'Consumer demand is shifting towards clean-label, protein-rich and gut-friendly foods, driving a structural evolution in how India consumes food. India is poised to lead the global narrative on health-driven, tech-enabled and inclusive food systems, fuelled by advancements in AI, IoT and blockchain,' he added.
The report highlights India's agricultural exports, which reached a record USD 48.2 billion in FY24, signalling strong global demand. Urban consumption patterns are also evolving, with nearly 50 per cent of food budgets now allocated to packaged and prepared foods.
Meanwhile, rural FMCG volumes posted a 6 per cent growth in Q3 FY24, and Tier-2 and Tier-3 cities are becoming new engines of demand.
'India's food processing sector holds immense transformative potential, both as a driver of economic growth and as a catalyst for inclusive development,' said Jyoti Vij, Director General, FICCI. 'As evolving consumer preferences and health-conscious choices reshape food systems, the need for resilience, innovation and value addition has never been greater.'
While the sector shows strong potential, the report said that supply chain inefficiencies continue to pose challenges. It calls for collaboration among policymakers, industry leaders and innovators to invest in smart technologies, build resilient supply chains, and scale health-forward offerings aligned with global consumption trends.
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