Advantage India
Robust
Demand
* Factors contributing to the sharp growth in demand for processed foods include increasing urbanization, increasing disposable incomes, changing spending patterns/ priorities, the emergence of nuclear families, and the growing need for convenience foods in dual-income nuclear families.
* The demand for organic products in the Indian market is growing and is anticipated to rise with a CAGR of 25.25% between 2022-27.
* A total of 521.27 LMT rice has been anticipated for procurement for the upcoming KMS 2023-24, up from 496 LMT produced during the previous KMS 2022-23.
Attractive
Opportunities
* Entry of foreign players has been key to sustainable growth in some sectors such as dairy.
* Trends indicate a sharp increase in on-the-go eating, snacking in between meals, switching to healthier eating alternatives, pre-cooked ready-to-eat meals, and increasing consumption of organic foods. This has led to a host of new opportunities in the consumer foods market for both domestic and international companies to build a stake in this fast-growing processed food market.
Policy
Support
* Online, Competitive, Transparent Bidding System with 1.74 crore farmers and 2.39 lakh traders put in place under the National Agriculture Market (e-NAM) Scheme.
* A new sub-scheme of PM Matsya Sampada Yojana with a targeted investment of Rs. 6,000 crore (US$ 729 million) to be launched to further enable activities of fishermen, fish vendors, and MSEs, improve value chain efficiencies and expand the market.
* The budget for Department of Agriculture and Farmers’ Welfare increased to Rs. 21,933.50 crore (US$ 2.53 billion) in 2013-14 and further advanced to Rs. 1,22,528.77 crore (US$ 14.13 billion) in 2024-25, reflecting the government’s commitment to agricultural development.
Competitive
Advantage
* India has access to several natural resources that provides it a competitive advantage in the food processing sector. Due to its diverse agro-climatic conditions, it has a wide-ranging and large raw material base suitable for food processing industries.
* In India, agriculture is the primary source of livelihood for ~55% of the population.
Godrej Agrovet
Godrej Agrovet is part of Godrej Group, one of the largest Indian conglomerates. The company has interests in diversified agriculture-related businesses. It operates across five business verticals which include animal feed, crop protection, oil palm, dairy and poultry and processed foods. Animal feed is the largest business of the company, contributing over 51.1% of its revenues till the third quarter of FY24. It is one of the largest organized players in India’s compound animal feed market.
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Rallis India
Rallis, a Tata Enterprise, is a subsidiary of Tata Chemicals, with its business presence in the farm essentials vertical. It is one of India’s leading crop care companies. The company’s 6,000+ dealers and 70,000+ retailers reach a vast multitude of India's farmers covering more than 80% of India’s districts and exports to over 58 countries. Rallis is known for its deep understanding of Indian agriculture, sustained contact with farmers, quality agrochemicals, branding and marketing expertise and its strong product portfolio of comprehensive crop care solutions. Agricultural solutions from the company benefit more than five million farmers.
Read MoreBritannia Industries Ltd
Britannia is one of the leading food companies in India with a legacy of more than 100 years. Today, it is among the most trusted food brands in India. Its portfolio includes biscuits, bread, cakes, rusk, and dairy products including cheese, beverages, milk, and yoghurt. It is the largest brand in the organised bread market. The company has a reach across five million retail outlets and 50% of the Indian households through its range of products.
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