India’s food processing market could reach $ 470 billion by 2025: KPMG report
The pandemic could contribute to the growth of the food processing market in India, consultancy firm KPMG said in a new report. Tier II and III cities could mirror the trend seen in metropolitan areas, purchasing more processed foods in the years to come, with the pandemic restricting mobility forcing people to work and learn from home, the report said. report. As a result, the food processing market could reach $ 470 billion by 2025 compared to $ 263 billion in 2020, an increase of more than $ 200 billion in five years. The report says the central government needs to negotiate more free trade agreements with foreign countries, and also invest in testing and certification to meet these countries’ strict hygiene standards to improve exports.
First published: Sun May 9, 2021. 10:33 PM IST