Indian food market set to double by 2025

•The Indian food market is set to more than double by 2025 on the back of a growing economy and changing lifestyles of people, says a US report. The report by the US Department of Agriculture cites a study by McKinsey&Co.

•Indian consumers are willing to pay a premium for both value-added private and branded products, creating immense opportunities for manufacturers and retailers. There is a widespread recognition in the country that consumers are likely to replace light meals with snacks.

$344 bn The expected size of India’s food market in the year 2025

$155 bn The market size in 2005

4.1 %The expected compounded annual growth rate

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85%The share of potato chips and potato-based products in the salty snack market

$ 3 bnThe total estimated worth of the country’s snacks market alone

$ 1.56 bnThe estimated worth of the country’s unorganised snacks market

7-8%The rate at which India’s unorganised snacks market is growing