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Change in Lifestyle leads to the Growth in Indian Food Industry
Nov 13, 2006
Rapid transformation in the lifestyle of Indians, particularly those living in urban India, has resulted in dramatic increase in the demand for processed food. The main reason why processed food is luring the urban Indians is the convenience that it offers to cooking, as they don’t need to spend hours in kitchen to get that appetizing food. Growth in working women’s population and prevalence of nuclear families with double income are other trends causing this change in the lifestyle of Indians.
Also, increase in overseas travel and the presence of foreign media in the country has resulted in more Indians opting for processed food. For instance, in 2005, above 5Million Indians had traveled abroad and the number is likely to rise by 15% to 20% every year.
These trends have largely impacted the Indian food-processing sector, as there’s been a jump in the demand for processed, ready-to-eat and ready-to-cook food. Amount of money spent by Indian on foods outside home has been assessed to have more than doubled over the last ten years to nearly $5Billion a year. Also, it’s likely to double in the five years to come. These trends entail significant growth potential for the food processing industry in future and, as a result, add to the attractiveness of investment in this sector.
RNCOS has recently published a report “Indian Food Processing (2006)”. According to this report, “During the past five years, average monthly income has increased almost by 43 percent and disposable income of individuals has increased nearly to 45 percent. This growth in income will help the India processed food industry to boost further.”
In its report on Food processing industry in India, RNCOS has analyzed the following key issues and facts:
- Performance of the Indian food processing industry.
- Driving force and challenges for Indian food industry.
- Key players in this sector.
- Future prospect of the Indian food processing industry.
About the Report:
A must read for business analysts, researchers, consultants and individuals who’re closely monitoring the developments of Indian food processing industry, the report provides research and objective analysis on the Food Processing Industry in India. It helps clients to analyze the opportunities critical to the success of the food Processing Industry in India.
For more information visit: http://www.rncos.com/Report/IM068.htm
For more information visit: http://www.rncos.com/Report/IM068.htm
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