Packaged food market to be worth $50 bn by 2017: Assocham

New Delhi, Dec 13 (IANS) India’s packaged food business has grown manifold, and it is estimated to grow to $50 billion by 2017 from $32 billion at present, a survey said on Sunday.

“There has been a major shift in food habits in metropolitan cities. About 79 percent of households prefer to have instant food due to steep rise in double incomes, standard of living and convenience,” said an Associated Chamber of Commerce and Industry of India (Assocham) survey.

It found that 76 percent of parents in big cities, mostly both working and with children under the age of five, are serving easy-to-make meals at least 10-12 times every month in some form or the other.

“The consumption of packaged food is much higher in the urban areas, especially metros, where life is fastpaced, attracting a lot more companies to launch new types of products and variants,” Assocham secretary general D.S. Rawat said in a statement.

India’s packaged food market is characterised by a large divide between urban, semi-urban and rural consumers.

Urban areas account for 80 percent of the demand for all packaged food, the report said.

The main packaged food include bakery and dairy products, canned and frozen processed food, ready-to-eat meals, diet snacks, processed meat, health products and drinks.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here