Indian packaged food industry is likely to double to $30 billion by 2015 on the back of arrival of multinationals in the sector and modern retail trade, industry body Assocham said today.
At present, the market size of the sector stands at $15 billion.
The main categories of packaged food are bakery products, canned/dried processed food, processed dairy products, frozen ready-to-eat foods, diet snacks, processed meat and pro-biotic drinks.
“Growing at a CAGR of about 15 to 20 per cent annually, Indian packaged food industry is likely to touch $30 billion by 2015,” it said.
Some key players in this industry are Hindustan Unilever, Nestle, PepsiCo and Haldiram.
“Strong desire among consumers to maintain a healthy lifestyle is driving the functional foods and beverages market,” the chamber said.