WillAgri
The food sector in India is the focus of renewed interest for start-ups and big groups alike. There are 150 million farmers, 40 million retailers and over one billion consumers. Annual food consumption in India is estimated to be worth $380 billion. It offers immense opportunities for innovations in terms of ingredients, recipes, products and packaging. The Indian food industry creates approximately 100 new products every year, which is not a lot in view of its size. Innovation mostly concerns:
- distribution
- new standards
- the cold chain and the integration of the value chain of fresh produce
- the development of horticulture (320 million tonnes) to the detriment of cereal production
- the production of vegetable proteins
- spices and herbs
- exports
Source: Agfunder