Food & Beverage Market Analysis 2026

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Latest News about Food & Beverage Market

Key Developments and Investments in India’s Food Processing Sector

Amul’s Expansion:

• Amul is setting up the world’s largest curd (dahi) manufacturing plant in Kolkata.
• The integrated facility involves an investment of ?600 crore (US$ 69.1 million).
• Amul was named the world’s strongest food and dairy brand in the Brand Finance Food & Drink 2024 report with a Brand Strength Index (BSI) score of 91.0/100 and AAA+ rating.

Project Approvals by MoFPI (as of June 30, 2024):

• 41 Mega Food Parks approved.
• 399 Cold Chain projects sanctioned.
• 76 Agro-Processing Clusters set up.
• 588 Food Processing Units approved.
• 61 Backward & Forward Linkages Projects supported.
• 52 Operation Greens projects underway.
• 92,549 Micro food processing enterprises approved under PMFME.

Budget Allocations:

• 4,364 crore (US$ 505.7 million) allocated to MoFPI for FY 2025–26.
• 729 crore (US$ 84.5 million) allocated to PMKSY.
• 1,444 crore (US$ 167.3 million) allocated to Production Linked Incentive Scheme (PLISFPI).
• 2,000 crore (US$ 231.8 million) allocated to PMFME.

Interim Budget 2024–25 Highlights:

• Total MoFPI budget: ?3,290 crore (~US$ 396 million), a ~13% increase over revised FY24 estimates.
• 2,173.02 crore (~US$ 261.5 million) for Central Sector Schemes including PMKSY and PLISFPI.
• 879.5 crore (~US$ 105.8 million) for Centrally Sponsored Schemes, including PMFME.

FDI Inflows:

• The food processing industry attracted US$ 12.96 billion in FDI equity inflows from April 2000 to September 2024.
• This accounts for 1.83% of total FDI equity and places the sector among the top 15 recipients.

Flagship Events and Recognition:

• MoFPI hosted the World Food India event in November 2023 in New Delhi, bringing together key stakeholders from the food value chain.
• The UN declared 2023 as the International Year of Millets, with India focusing on becoming a global millet hub.

Millet-Focused Initiatives:

• India hosted the Global Millets Conference in March 2023 during its G20 Presidency, with participation from over 102 countries.
• The Indian Institute of Millets Research in Hyderabad was declared a Centre of Excellence for millet R&D.

Mega Food Park (MFP) Scheme:

• Launched to integrate agriculture with markets through cluster-based food processing hubs.
• Includes infrastructure like collection centers, cold chains, and developed plots for entrepreneurs.
• 41 MFPs approved, with 24 operational as of December 2023.

Financing Support:

• In 2022, a Special Food Processing Fund of ?2,000 crore (US$ 263 million) was created via NABARD to offer affordable credit for units in Mega and Designated Food Parks.

PLIS for Food Processing:

• Approved in March 2021 with an outlay of ?10,900 crore (US$ 1.3 billion) for 2021–27.
• Supports manufacturing, innovation in SME organic products, and promotes Indian brands globally.
• A separate PLI Scheme for Millet-Based Products (PLISMBP) was launched in FY23 with an allocation of ?800 crore (~US$ 96 million).

Government Initiatives

• Food processing units receive full profit exemption for the first five years, followed by 25% tax exemption (30% for companies) for the next five years.
• 100% deduction is allowed on capital expenditure for cold chain or warehouse infrastructure.
• Loans to food and agro-based processing units and cold chain projects are classified under agriculture activities for Priority Sector Lending (PSL).
• The government permits 100% FDI under the automatic route in the food processing sector, ensuring a smooth investment process.
• Milk processing capacity is expected to nearly double from 53.5 MMT to 108 MMT by 2025.
• The Mega Food Park (MFP) Scheme under PMKSY integrates agricultural production with markets by connecting farmers, processors, and retailers.
• The scheme uses a cluster approach, establishing modern food processing units within well-defined agri/horticultural zones.
• Each park includes supply chain infrastructure such as collection centres, processing units, cold chains, and developed plots for entrepreneurs.
• As of December 2023, 41 Mega Food Park projects have been approved, with 24 operational

By October 2023, 372 cold chain projects were completed, creating:

• 10.3 lakh MT of cold storage, Controlled Atmosphere (CA)/Modified Atmosphere (MA) storage, and deep freezer capacity.
• 335 MT per hour of Individual Quick Freezing (IQF) capacity.
• 175.8 lakh litres per day (LLPD) of milk processing and storage capacity.
• 1,860 refrigerated vehicles (reefer vehicles).

Sources from Consumer Industry

• http://www.cpsc.gov
• http://www.ntu.ac.uk
• http://www.ftc.gov
• http://www.accc.gov.au
• http://commission.europa.eu
• http://www.nist.gov
• http://www.fda.gov
• http://www.efsa.europa.eu
• http://www.food.gov.uk
• http://www.ams.usda.gov
• http://consumerbrandsassociation.org
• http://www.bis.gov.in

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