Does the food processing industry have a future in India?

The food processing industry is one of the largest industries in India and is all set to soar heights in the near future. The Indian food retail market is expected to reach USD 894.98 billion by 2020. The food processing sector has been growing at the rate of 12 per cent annually, officials said.

What is the status of food processing industry in India?

Food processing and its segments The food processing industry is one of the largest industries in India and ranks fifth in terms of production, consumption and exports. As per the latest data available, food processing sector is expected to reach US$ 258 billion in FY15.

What is the scope food processing?

According to the Ministry of Food Processing Industry (MoFPI), post-harvest losses account for US$1.5 billion (Rs 92,000 crores) annually. Major areas holding scope for value added processing are in the canning, packaging, dairy and food processing, frozen food, and thermo-processing industries.

What is the future for food processing industry?

The world economy is on the verge of rapid digital transformation, and that includes food processing. The global industrial automation market is predicted to be worth $297 billion by 2026, with food and beverage applications making up 11\% of the market.

Who is the current food processing minister of India?

Pashupati Kumar Paras
The ministry is currently headed by Pashupati Kumar Paras, a Cabinet Minister….Ministry of Food Processing Industries.

What is the future of food processing?

India’s food processing sector is one of the largest in the world and its output is expected to reach US$ 535 billion by 2025-26. This sector is expected to generate 9 million jobs by 2024. By 2030, Indian annual household consumption is expected to triple, making India the fifth-largest consumer in the world.

What is a future of food?

By 2050, the world’s population is expected to reach around 9.6 billion people. The demand for food is expected to increase by 14\% per decade; we will consume as much food in the next four decades as we have consumed in the previous few hundred years, representing around a 70\% increase in production by 2050.

What is the future of the food industry?

The future of food will be about even more convenience and personalization. Technology, convenience and personalization are intertwined in the food industry. In the future, you can expect to see tech continue to play a major role as consumers continue to demand convenient food with a personal touch.

What is the future of the food industry in India?

With increased agricultural production, establishment of storage facilities, more food processing industries and evolving consumer food preference, the food industry has the potential to become one of the principal industries of India in future. In the recent years, the food industry has emerged as a high growth sector and high profit sector.

How much does the food processing sector contribute to India’s GDP?

The food processing sector contributed 1.6\% of India’s GDP in 2014-15. It made up 10.12\% of GDP attributable to agriculture and 9\% of manufacturing GDP during the same year”. Between 2011-12 and 2014-15, the food-processing sector grew at an annual average growth rate of 2.3 \%, relative to the 1.7\% growth rate in the agriculture sector.

What is the scope of food technology?

Food technology is a branch of science in which the food science is applied in manufacturing and preservation of food products. The food technologist study the chemical, physical and microbiological makeup of the food. Today, several career options are available in India. One can opt for various food technology courses for a bright career.

What is the growth rate of the food processing sector?

Between 2011-12 and 2014-15, the food-processing sector grew at an annual average growth rate of 2.3 \%, relative to the 1.7\% growth rate in the agriculture sector. The sector is an important source of direct and indirect employment, accounting for 11.95\% of formal employment in 2012-13″.