The Industry
- The Indian Food & Beverages Market, valued at INR 24,570 billion in 2023, is expected to grow at a compound annual growth rate (CAGR) of 11.05% from 2024 to 2030.
- The Indian food processing market size reached INR 28,027.5 Billion in 2023 and is expected to reach INR 61,327.5 Billion by 2032, exhibiting a growth rate of 8.8% during 2024-2032.
- The Indian snacks market reached INR 426.95 billion in 2023 and is projected to soar to INR 955.22 billion by 2032.
- The Indian hospitality sector is expected to grow at a compound annual growth rate of 5.0% between 2024 and 2032.
- RAJASTHAN hosts over 956 food processing units, underscoring its prominence in the agro-processing sector and offering enticing investment opportunities. The state leads India in the production of oilseeds, rapeseed, and mustard, and is second in garlic, coriander, cumin, pulses, and additional oilseeds. Renowned as the ‘National Leader in Pearl Millets,’ Rajasthan is also a key player in the snacks and confectioneries market.