Domestic food market likely to grow by over 47% to touch $1,274 bn: Report
The domestic food market is expected to grow by over 47 per cent to reach USD 1,274 billion by 2027, a report released by the Confederation of Indian Industry and supported by Danfoss India said.
India's food processing industry sees innovative startups emerging with cutting-edge technology, the report titled 'Food Processing Sector in India - Potential for Southern States. and released by CII, CII FACE (Confederation of Indian Industry -- Food and Agriculture Centre of Excellence) and Danfoss India, said.
Danfoss India is a leader in heating, ventilation and air-conditioning and is the subsidiary of Denmark-headquartered engineering major Danfoss.
Some of the key highlights of the report, which was released at the CII-FoodPro 2024 include the potential that southern states hold for food processing industry.
"Tamil Nadu leads India's export of processing fruits, juices and nuts, with a 33 per cent share by quantity and 27 per cent by value, exporting 2,08,370 metric tonnes worth US