India’s food market valued at $550–600 billion, growing at 6–7% CAGR

New Delhi: India’s food market is estimated at US$550–600 billion and continues to expand at a healthy 6–7% compound annual growth rate, driven by economic growth and urbanisation, Devesh Deval, Joint Secretary in the Ministry of Food Processing Industries, has said.

Addressing Anuga Select India and Anuga FoodTec India 2026 in Mumbai, Deval underlined the strategic importance of food processing. “It creates greater value for farmers, attracts investment and is the second-highest employment creator in manufacturing, accounting for nearly 8% of gross value added in manufacturing,” he said.

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The government’s priority is to raise processing levels across all 16 broad sub-sectors so that more value reaches farmers. Cereals, meat, fruits and vegetables, and dairy remain key segments. India is the world’s second-largest producer of fruits and vegetables and the largest producer of milk. Fisheries, marine products and animal husbandry also receive focused policy attention, he said.

The co-located exhibitions, organised by Koelnmesse at the Bombay Exhibition Centre, run from September 29 to October 1. They feature over 1,100 exhibitors from 43 countries and are expected to draw more than 45,000 trade visitors, covering the full food value chain from ingredients and finished products to processing, packaging, automation and logistics.

Supported by the Ministry of Food Processing Industries with the European Union as Official Partner Region, the event connects Indian enterprises with global buyers, technology providers and investors.

The event witnessed the presence of

Martina Englhardt-Kopf, Vice Minister in Germany’s Ministry of Food and Agriculture; Silvio Erkens, State Secretary for Agriculture, Fisheries, Food Security and Nature, Netherlands; Sameer Mithia, Group Director - Koelnmesse Pvt Ltd, Milind Dixit ; Managing Director – India & SAARC Region, Koelnmesse Pvt. Ltd and Dr. Tarun Bajaj, Senior Consultant, Agricultural and Processed Food Products Export Development Authority (APEDA).