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September, 2006 Pragati Maidan, New Delhi, India |
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India is set be hot spot for food and beverages.
India is all set to become a leading destination for the food & beverages retail industry. In the last five years, food sales — consisting largely of packaged basics like cooking oils, atta, rice and ghee — have grown by as much as 72%.
Though this sector contributes just 3% to the domestic retail sector, it is expected to go up and account for 10% of the overall retail business by ’10.
According to a CII-ACNielsen ORG-Marg report, even without prospective reforms like allowing FDI, organised retail in food & beverages is bound to see exponential growth, primarily because of changes in consumer demand, supply-chain dynamics and marketing interventions.
The report says that the most significant change in marketing has been the advent of modern format stores, which have increased at a cumulative 15% in the last five years.
The CII report also points out that one of the biggest opportunities in food retailing in the coming years is likely to be the quasi meal, because there is a greater possibility to experiment and the rules are flexible. Another factor that the report attributes to an impending boom in food retail is that women are increasingly joining the workforce.
Though in a very small way, the prospects for ready-to-eat meals and culinary aids that help in preparing regional specialities also seem to be catching on.
The other related sectors which the report expected to deliver opportunities are packaged water, fruit-based beverages, dairy-based beverages — fresh/chilled flavoured milk and lassi. Packaged water is likely to be further fuelled by growing concerns about hygiene and purity.
Date: 02-Dec-2005
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