India Targets USD 600 Billion Food Processing Market by 2030

A joint report by Deloitte India and the Federation of Indian Chambers of Commerce and Industry (FICCI) projects that India's processed food market could reach a valuation of approximately USD 600 billion by 2030. Launched at the 17th FICCI FoodWorld India 2026 conference, the STEP UP report indicates a structural shift from a volume-driven, supply-led model toward a consumer-centric, value-led growth engine driven by urbanization and rising incomes.

Avinash Joshi, the Food Processing Industries Secretary, announced a government target to increase food processing levels to 25% by 2031, up from 17% in 2023. To achieve this, the ministry is proposing a new national processing mission or a PLI 2.0 scheme to build upon the success of the existing Rs 10,900 crore Production Linked Incentive scheme. Joshi also detailed the development of a Bharat brand platform designed to promote Indian processed foods and alcoholic beverages to a global audience.

Regional efforts are also accelerating, with Andhra Pradesh Minister T.G. Bharath setting goals to attract Rs 30,000 crore in investment and create over 3 lakh jobs by 2029. The sector is expected to be further reshaped by the adoption of AI, quick commerce, and precision agriculture to optimize distribution and product innovation.