Report Overview

India Packaged Food Market – Industry Trends & Forecast Report, 2030

India Packaged Food Market size by value was estimated at USD 76.28 billion in 2023. During the forecast period between 2024 and 2030, India Packaged Food Market size is projected to grow at a CAGR of 6.2% reaching a value of USD 116 billion by 2030. Prominent drivers of the market include shifting consumer preferences towards convenient meal solutions and widespread adoption of food preservation techniques. India, currently the world's second-largest food producer, possesses immense potential to ascend to the global leadership position. A key driver of growth is the burgeoning food processing industry, which ranks sixth globally in production, consumption, export, and growth prospects. Urbanization, rising incomes, and the increasing number of working women have collectively accelerated the demand for prepackaged and ready-to-eat foods, particularly within the urban middle class. Demographic shift has correspondingly elevated the demand for specialty and high-value processed food products. The Indian food market is poised for exponential growth, anticipated to more than double by 2025, driven by robust economic expansion and evolving lifestyles. Within this dynamic landscape, the snack food segment emerges as a particularly promising area with substantial untapped potential, especially in urban centers. Rising disposable incomes, evolving dietary preferences, and the growth of dual-income households have collectively spurred demand for convenient and ready-to-consume food options.

By volume, India Packaged Food Market size was estimated at 52.05 million tons in 2023. During the forecast period between 2024 and 2030, India Packaged Food Market size is projected to grow at a CAGR of 4.2% reaching the volume of 69 million tons by 2030. Major market players adeptly cater to India's diverse culinary heritage by offering products aligned with regional tastes. Moreover, the increasing health consciousness among consumers has prompted manufacturers to prioritize nutritional value and incorporate organic ingredients. The Indian government’s initiatives aimed at enhancing food safety and regulatory frameworks have instilled greater consumer confidence, thereby contributing to market expansion. The active participation of both domestic and international players is expected to foster innovation and intensify competition, further propelling the industry's growth trajectory.

Packaged Food – Overview

Packaged food, or processed food, refers to pre-prepared items sealed in packaging for consumer sale. This food undergoes various processing methods, such as washing, cooking, freezing, canning, or adding preservatives to extend its shelf life. Available in forms like canned goods, frozen meals, snacks, and beverages, packaged food is designed to preserve and protect the contents from contamination. Packaging often includes labels with vital details like ingredients, nutritional information, and expiration dates, helping consumers make informed choices. Additionally, packaged food provides convenience and saves time in meal preparation.

India Packaged Food Market

Growth Drivers

Rising Disposable Income and Busy Lifestyles

In India, the growth of packaged foods is significantly influenced by rising disposable incomes and increasingly busy lifestyles. As the number of working women and dual-income households rises, there is a noticeable shift toward on-the-go consumption. Busy work schedules make it challenging for individuals to prepare meals from scratch, thus driving the demand for convenient food options. This shift is expected to boost the utilization of innovative and sustainable packaging technologies, designed to enhance the sensory and nutritional qualities of food and extend its shelf life.

Increasing Preference for Convenience

The increasing preference for convenience is a major driver in the Indian packaged food industry. Consumers are seeking products that offer ease of use and quick preparation due to their hectic lifestyles. This trend is prompting a rise in demand for innovative and sustainable packaging solutions. As awareness of environmental issues grows, there is a heightened focus on eco-friendly packaging. Companies are responding by introducing sustainable options, such as WestRock’s recyclable EverGrow packaging, which aligns with the shift towards both convenience and environmental responsibility. This change is expected to further propel the market's growth.

Challenges

Fluctuating Prices of Packaged Foods

The volatile prices of packaged foods present a significant challenge to the growth of the Indian packaged food market. Volatile raw material costs, supply chain disruptions, and varying production expenses contribute to price instability, affecting consumer purchasing power and market demand. Frequent price changes can lead to reduced consumer confidence and shift preferences towards more stable alternatives. Additionally, inconsistent pricing impacts the profitability of manufacturers and retailers, potentially hindering investments in innovation and expansion. As a result, the market's growth is constrained by these price fluctuations, which can deter potential customers and disrupt market dynamics.

Impact of Escalating Geopolitical Tensions on India Packaged Food Market

Escalating geopolitical tensions among countries across regions could have a significant impact on the growth of India Packaged Food Market. Uncertainties stemming from geopolitical instability can disrupt supply chains and increase production costs by affecting the availability of raw materials and imposing trade barriers. Such disruptions can lead to higher prices and potential shortages, complicating market dynamics. Furthermore, geopolitical instability may deter foreign investment and hinder international trade relations, impacting market expansion and profitability. Economic uncertainty resulting from these tensions could also reduce consumer spending and shift demand towards more affordable options, creating challenges for sustained market growth.

India Packaged Food Market

Segmental Coverage

India Packaged Food Market – By Type

On the basis of type, India Packaged Food Market is divided into Bakery & Confectionary Products, Dairy Products, Snacks & Nutritional Bars, Beverages, Sauces, Dressings, & Condiments, Ready-to-Eat Meals, Breakfast Cereals, Processed Meats, Rice, Pasta, & Noodles, Ice Creams & Frozen Novelties, and other (including Organic Foods, Plant-based & Vegan Foods) segments. The bakery & confectionary products segment holds the highest share in India Packaged Food Market by type, due to the growing preference for convenient and ready-to-eat foods, alongside an expanding middle class with increasing disposable incomes. It includes a range of items like bread, biscuits, cakes, and pastries. With annual production exceeding 3 million tons, the bakery & confectionary products segment dominates, with bread and biscuits contributing about 82% of the total bakery output. Biscuits, in particular, show rapid growth, especially in specialty varieties. The market benefits from both organized and unorganized sectors, with products being an essential part of daily nutrition and accessible in various pack sizes. The bakery & confectionary products significant share reflects its crucial role in the Indian packaged food landscape.

India Packaged Food Market – By Distribution Channel

Based on distribution channel, India Packaged Food Market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Oline, and Others (including Specialty Food Stores). The supermarkets & hypermarkets segment holds the highest share in India Packaged Food Market by distribution channel, due to their wide product range, competitive pricing, and the convenience they offer to consumers. These retail formats provide a one-stop shopping experience, enabling customers to access diverse packaged food products under one roof. Additionally, their extensive reach and ability to cater to varying consumer needs through large-scale inventory and promotions enhance their appeal. The growing urban population and increasing consumer preference for organized retail further solidify supermarkets and hypermarkets' position in the market.

India Packaged Food Market – By Region

The in-depth research report on India Packaged Food Market covers the market in the country’s major regions: North India, South India, East India, and West India regions. Regionally, North India holds the highest share in India Packaged Food Market and is expected to maintain its dominance over the forecast period. The region's robust food production, including dairy and fruits, supports a thriving food processing industry. With increasing disposable incomes and evolving food preferences, particularly among the working class, the demand for processed foods is on the rise. Additionally, North India's abundant raw materials further drive industry growth. The food processing sector in the region is expanding, encompassing both commodity-based and value-added products. This growth is expected to continue, as markets for various food products remain underdeveloped, presenting significant opportunities for future development and investment.

Competitive Landscape

Major players operating in India Packaged Food Market include ADF Foods Ltd, Nestlé India Ltd, Hatsun Agro Products, Britannia Industries Ltd, DFM Foods Ltd, Hindustan Foods Ltd, MTR Foods, Unilever, ITC Limited, and Parle. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Type

• Bakery & Confectionary Products

• Dairy Products

• Snacks & Nutritional Bars

• Beverages

• Sauces, Dressings, & Condiments

• Ready-to-Eat Meals

• Breakfast Cereals

• Processed Meats

• Rice, Pasta, & Noodles

• Ice Creams & Frozen Novelties

• Others (including Organic Foods, Plant-based & Vegan Foods)

By Distribution Channel

• Supermarkets & Hypermarkets

• Convenience Stores

• Online

• Others (including Specialty Food Stores)

By Region

• North India

• South India

• East India

• West India

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. India Packaged Food Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rising disposable income and busy lifestyles
         2. Growing working population
         3. Expanding retail sector
         4. Increasing preference for convenience
      2. Restraints
         1. Fluctuating price of packaged foods
         2. Growing awareness of the health risks associated with processed foods
         3. Lack of proper cold chain infrastructure
      3. Opportunities
         1. Rising demand for healthy packaged foods
         2. Growth of e-commerce
         3. Investment in cold chain infrastructure
      4. Challenges
         1. Fluctuating prices of raw materials
         2. Presence of counterfeit products
         3. Ensuring consistent quality across a wide range of products
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. India Packaged Food Market: Pricing Analysis
5. India Packaged Food Market: Marketing Strategies
6. India Packaged Food Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Type
         1. Bakery & Confectionary Products
         2. Dairy Products
         3. Snacks & Nutritional Bars
         4. Beverages
         5. Sauces, Dressings, & Condiments
         6. Ready-to-Eat Meals
         7. Breakfast Cereals
         8. Processed Meats
         9. Rice, Pasta, & Noodles
         10. Ice Creams & Frozen Novelties
         11. Others (including Organic Foods, Plant-based & Vegan Foods)
      2. By Distribution Channel
         1. Supermarkets & Hypermarkets
         2. Convenience Store
         3. Online
         4. Others (including Specialty Food Stores)
      3. By Region
         1. North India
         2. South India
         3. East India
         4. West India
7. North India Packaged Food Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Type
      2. By Distribution Channel
8. South India Packaged Food Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Type
      2. By Distribution Channel
9. East India Packaged Food Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Type
      2. By Distribution Channel
10. West India Packaged Food Market
    1. Market Size & Forecast, 2019–2030
       1. By Value (USD Billion)
    2. Market Share & Forecast
       1. By Type
       2. By Distribution Channel
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. India Packaged Food Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operation Channel Parameters
    4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
12. Impact of Escalating Geopolitical Tensions on India Packaged Food Market
13. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. ADF Foods Ltd
    2. Nestle India Ltd
    3. Hatsun Agro Products
    4. Britannia Industries Ltd
    5. DFM Foods Ltd
    6. Hindustan Foods Ltd
    7. MTR Foods
    8. Unilever
    9. ITC Limited
    10. Parle
    11. Other Prominent Players
14. Key Strategic Recommendations
15. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
       1. Secondary Research
       2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation

*Financial information of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Figure 1       India Packaged Food Market Segmentation

Figure 2       India Packaged Food Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       India Packaged Food Market Size, By Value (USD Billion), 2019–2030

Figure 5       India Packaged Food Market Share, By Type, By Value (USD Billion) 2019–2030

Figure 6       India Packaged Food Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Figure 7       India Packaged Food Market Share, By Region, By Value (USD Billion) 2019–2030

Figure 8       North India Packaged Food Market Size, By Value (USD Billion), 2019–2030

Figure 9       North India Packaged Food Market Share, By Type, By Value (USD Billion) 2019–2030

Figure 10     North India Packaged Food Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Figure 11     South India Packaged Food Market Size, By Value (USD Billion), 2019–2030

Figure 12     South India Packaged Food Market Share, By Type, By Value (USD Billion) 2019–2030

Figure 13     South India Packaged Food Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Figure 14     East India Packaged Food Market Size, By Value (USD Billion), 2019–2030

Figure 15     East India Packaged Food Market Share, By Type, By Value (USD Billion) 2019–2030

Figure 16     East India Packaged Food Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Figure 17     West India Packaged Food Market Size, By Value (USD Billion), 2019–2030

Figure 18     West India Packaged Food Market Share, By Type, By Value (USD Billion) 2019–2030

Figure 19     West India Packaged Food Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

List of Tables      

Table 1        India Packaged Food Market Size, By Value (USD Billion), 2019–2030

Table 2        India Packaged Food Market Share, By Type, By Value (USD Billion) 2019–2030

Table 3        India Packaged Food Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Table 4        India Packaged Food Market Share, By Region, By Value (USD Billion) 2019–2030

Table 5        North India Packaged Food Market Size, By Value (USD Billion), 2019–2030

Table 6        North India Packaged Food Market Share, By Type, By Value (USD Billion) 2019–2030

Table 7        North India Packaged Food Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Table 8        South India Packaged Food Market Size, By Value (USD Billion), 2019–2030

Table 9        South India Packaged Food Market Share, By Type, By Value (USD Billion) 2019–2030

Table 10      South India Packaged Food Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Table 11      East India Packaged Food Market Size, By Value (USD Billion), 2019–2030

Table 12      East India Packaged Food Market Share, By Type, By Value (USD Billion) 2019–2030

Table 13      East India Packaged Food Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Table 14      West India Packaged Food Market Size, By Value (USD Billion), 2019–2030

Table 15      West India Packaged Food Market Share, By Type, By Value (USD Billion) 2019–2030

Table 16      West India Packaged Food Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Table 17      ADF Foods Ltd Company Overview

Table 18      ADF Foods Ltd Financial Overview

Table 19      Nestle India Ltd Company Overview

Table 20      Nestle India Ltd Financial Overview

Table 21      Hatsun Agro Products Company Overview

Table 22      Hatsun Agro Products Financial Overview

Table 23      Britannia Industries Ltd Company Overview

Table 24      Britannia Industries Ltd Financial Overview

Table 25      DFM Foods Ltd Company Overview

Table 26      DFM Foods Ltd Financial Overview

Table 27      Hindustan Foods Ltd Company Overview

Table 28      Hindustan Foods Ltd Financial Overview

Table 29      MTR Foods Company Overview

Table 30      MTR Foods Financial Overview

Table 31      Unilever Company Overview

Table 32      Unilever Financial Overview

Table 33      ITC Limited Company Overview

Table 34      ITC Limited Financial Overview

Table 35      Parle Company Overview

Table 36      Parle Financial Overview