Food and beverage in India
India is one of the largest countries in the world, with a growing population of 1.2 billion people. There has been a discernible increase in purchasing power in many parts of the country and rising affluence in many urban pockets.
Market overview
Changes such as economic growth, globalisation, urbanisation, the relaxation of import policies, the growth of organised retailing, the impact of visual media, along with changing lifestyles and food habits have opened the doors for imported food products from across the globe. With rising incomes, Indian urban consumers now have the willingness and means to try new products.
However, the income distribution in India remains uneven between a wealthy urban population and a low income rural population. Almost a quarter of the population is living on less than US$1 per day, even though GDP per capita is US$3,787.
The income split essentially means that India has two separate consumer segments, which are further split by strong regional differences. Throughout India there are 20 official languages, 3 main religions and 14 main cuisine styles.
India is one of the world’s largest food producers and has a large agriculture industry. This, combined with a cultural preference for fresh food, means that India supplies the majority of its own food for consumption. However, India is a growing market for processed food imports which are becoming more popular with the younger population, especially in urban areas.
