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Definition
The food industry is a complex, global collective of diverse businesses that together supply much of the food energy consumed by the world population. Only subsistence farmers, those who survive on what they grow, can be considered outside of the scope of the modern food industry. The Food Standards Agency, a government body in the UK, describes it thus: "...the whole food industry from farming and food production, packaging and distribution, to retail and catering.
Thus the food industry is concerned with processing, preparing, preserving, distributing and serving of foods.
strengths
Food processing industry is rising at the rate of 8% yearly. It shows the potential of the industry to grow in the future. Indian food processing Industry is the 5th largest industry in India. Industry revenue is increasing at the rate of 5% per year. Due to its diverse agro-climatic conditions, it has a wideranging and large raw material base suitable for food processing industries. Presently a very small percentage of these are processed into value added products India's comparatively cheaper workforce can be effectively utilized to setup large low cost production bases for domestic and export markets
India has plenty of natural resources that provide it a competitive advantage in the food processing industry. Liberalized overall policy regimes, with specific incentives for high priority food processing sector, provide a very conducive environment for investments and exports in the sector.
challenges
Due to globalization threats from the MNCs is increasing day by day. The facilities that are given by the non branded local retailers will reduce the market share of our store. Technology is upgrading day by day due to which requirement of trained manpower is also increasing. Slow & Dysfunctional judiciary and corrupt law enforcers Regulation, protection and restriction for processed food
Spending on food accounting for nearly 21% of Indias GDP and with a market size of USD181 billion. The largest portion of the Indian consumers spending more than a 31% share of wallet. From 2004 to 2008 -a compounded annual growth rate (CAGR) of 6.4%. Indian domestic food market is expected to grow by nearly 40% of the current market size by 2015, to touch USD258 billion by 2015. There are numerous hotels within a 15 minute radius, over six of the being 5 star. BEC consists of four halls occupying over 40,000 sq.mtrs of centrally air-conditioned space for conducting exhibitions.
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Major players
Dabur Foods Ltd. Godrej Beverages & Foods Limited Gujarat Cooperative Milk Marketing Federation (Amul) Hindustan Lever Limited ITC Ltd Kohinoor Foods Ltd (formerly Satnam Overseas Ltd) Mother dairy/ NDDB Nestle India Pepsico Holdings India Pvt. Ltd Venkys India Ltd