Domestic food market expected to grow by over 47% to touch USD 1,274 bn by 2027

Chennai: 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 USD 220.81 million in 2023-24," the report said.

The food processing industry in India sees innovative startups emerging with cutting-edge technology, the report said.

The study carries insights on emerging trends, technologies and export opportunities enabling businesses to make informed decisions and tap into the sector's potential South India's food processing sector is on the cusp of a revolution, with innovative segments like millets, ready-to-eat and plant-based dairy alternatives unlocking a treasure trove of economic opportunities for farmers. 

"The newly launched report reveals, technology holds the key to supercharging this growth, ensuring the highest standards of safety and quality and propelling India's exports onto the global stage," CII National Council for Cold Chain and Agri Logistics Chairman Ravichandran Purushothaman said.

"At Danfoss India, we are excited to be a part of this transformative journey, driving sustainable food processing solutions that will shape the future of Indian agriculture and food sector," he said in a statement on Saturday.

During the event, Danfoss Optyma Pack Condensing Unit, a reliable and energy-efficient solution for Bulk Milk Cooling and Cold Room applications was launched.

"The Optyma Pack Condensing Unit is a game changer for India's dairy industry and cold room applications. Its unique design and reliable performance will significantly help in meeting our customer's cost and sustainability goals," Danfoss India Region Head of Climate Solutions - Sales, Madhur Sehgal said.

The innovative technology ensures optimal milk temperatures with minimised energy consumption, which brings down the carbon footprint, addressing critical dairy processing challenges and supporting India's sustainable food production goals, the statement added.