About Food Processing & Additives
The food sector has emerged as a high-growth and high-profit sector due to its immense potential for value addition, particularly within the food processing industry as it is said to have CAGR of approximately 8 percent. The projects approved are running across quadrilaterals of the country covering over 100 agro-climatic zones. The Processed food market is expected to grow to $ 543 bn by 2020 from $ 322 bn in 2016, at a CAGR of 14.6%. To modernise the infrastructure in this sector, the government launched the Pradhan Mantri Kisan SAMPADA Yojana to develop various agro – processing clusters. 39 mega food parks (located in 24 states), sanctioned by the Ministry of Food Processing Industry, are currently at different stages of implementation. A cumulative 3,282 million has been invested in India’s food processing industry through FDI route between fiscals 2015 and 2019. Under NIP, projects worth INR 1255 crore to be implemented under food processing category from FY 20-FY25.