How big is the packaged food market?
How big is the packaged food market?The packaged food market in india is growing very fast. In 2023, this market was around $76.28 billion and it is estimated to reach $116 billion by 2030. This means that the sale and purchase of packaged food will increase significantly in the next few years. india is the second largest food producing country in the world. With the rapid growth in the packaged food market, india has a chance to become number one in the world.Here are some other details about the packaged food market in India:Dairy and snacks: Dairy products dominate the market, accounting for 38.8% of the total retail market in 2022. Snacks and sweets followed closely, contributing 32.3%. Private labels: Private label products are sold at a 25–40% discount compared to branded products. Rural India: Packaged food has seen 11 times higher growth in rural india than in metros. According to a report by Bluewave Consulting, a total of 52.05 million tonnes of packaged food was produced in india in 2023 and it is estimated to reach 69 million tonnes by 2030. The packaged food market in india is growing because indian people are now preferring to eat new types of packaged food. people have started thinking more about health, so companies are making packaged food made from nutritious and organic things. Companies are making new packaged food according to people's preferences. Companies are making different types of food according to different states, like Idli-Dosa mix for South india and paratha flour for North India.