The report, “Consumer Staples 1QFY27 Result Review – Recovery broadens, but margins remain a work in progress”, said revenue growth across its consumer-staples coverage stood at 15% year-on-year in Q1 FY27, broadly in line with expectations. It said volume growth is increasingly driving topline performance, although the consumption recovery is not yet fully normalised.

Nestlé India and Marico emerged as key performers, with Nestlé reporting 25% revenue growth, largely volume-led, while Marico recorded 23% revenue growth and 11% domestic volume growth, its highest in 20 quarters. HUL, Godrej Consumer Products, Tata Consumer Products and Dabur also reported positive underlying volume growth, while CCL Products recorded around 20% volume growth.

The broader volume trend also remained encouraging. Volume growth in Q1 FY27 stood at 5% for Hindustan Unilever, 20% for Varun Beverages, 9% for Britannia Industries, 7% for Godrej Consumer Products, 13% for Tata Consumer Products, 11% for Marico, 5% for Dabur India, 7% for Colgate-Palmolive India and 16% for Emami.

The report said rural demand continues to remain resilient, while urban consumption is gradually improving. Recent improvement in rainfall and continued government support through MSPs have provided confidence on rural demand for the balance of FY27, although weather-related risks remain a monitorable.

At the same time, the report flagged input-cost inflation as the key near-term risk to margins. Commodity prices have moved higher across several important FMCG inputs. As of August 10, palm oil prices were around 20% higher year-on-year, crude oil was up around 35%, HDPE prices had risen 28%, while sugar was up 11% year-on-year and 13% sequentially. Mustard oil was also around 7% higher year-on-year.

Equirus said the impact of commodity inflation is likely to be more pronounced for home and personal care (HPC) companies, given their greater exposure to crude- and palm-oil-linked derivatives, packaging materials and other petroleum-linked inputs. In contrast, food and beverage companies remain relatively better protected due to earlier pricing actions, procurement efficiencies and favourable product mix.

The pressure is already visible in gross margins. While Tata Consumer Products expanded gross margin by 257 basis points, Nestlé by 205 bps and Britannia by 119 bps, Godrej Consumer Products saw gross margin contract 261 bps, while Emami’s gross margin declined 360 bps year-on-year.

Despite the improvement in demand, operating margins remain a key monitorable as companies continue to invest in brands, innovation and distribution. For instance, Colgate’s gross margin expanded 104 bps year-on-year, but its EBITDA margin declined 144 bps as advertising and promotional expenditure rose 34%. Marico, however, expanded EBITDA margin by 36 bps despite a 25% increase in advertising and promotion spending.

The report expects pricing actions, productivity measures and easing of some input costs to support margin recovery over the coming quarters. Britannia expects a 1.5-25 pricing benefit, while Emami expects calibrated pricing and productivity initiatives to offset input-cost inflation during FY27. Mrs Bectors expects the impact of commodity inflation to peak in 2QFY27, with most of the pressure expected to be recovered from 3QFY27 onwards.

Equirus expects the broader margin recovery to become more visible in the second half of FY27, although the pace is likely to vary across companies depending on their commodity exposure, pricing power, brand investments and product mix. The report remains constructive on select companies, including Marico, Britannia Industries and Tata Consumer Products among large caps, and CCL Products, Mrs Bectors Food Specialities and Zydus Wellness among mid- and small-cap companies.

The report’s key takeaway is that the FMCG sector has moved beyond the earlier demand-led concerns, with volumes showing a broader recovery. However, sustaining that momentum while protecting margins amid rising input costs will remain the key challenge for companies through FY27.

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The report is based on insights from more than 6,000 respondents across metro, Tier I, Tier II and Tier III cities through online and offline surveys. It highlights that nutrition is no longer seen as a compromise for taste, with consumers increasingly evaluating snacks through their nutritional value.

According to the report, younger consumers aged 16-35 years are more likely to snack to satisfy cravings, while those above 35 years primarily snack for an energy boost. Across age groups, tea time remains the country’s most preferred snacking occasion, followed by mid-morning snacking.

Commenting on the report, Shail Pancholi, Country Director, India, Wonderful Pistachios, said,  “India’s snacking habits are evolving rapidly, with consumers looking for foods that deliver both taste and nutrition. The growing focus on protein, clean ingredients and mindful eating presents a significant opportunity for pistachios to become a more integral part of everyday snacking. High in  plant protein, California Pistachios are well positioned to meet these evolving consumer  preferences while making better snacking more accessible.”

The report notes that California Pistachios, which provide 6 grams of protein per 28-gram serving, are well positioned to meet the growing demand for high-protein snacks.

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“India’s food sector is undergoing a structural transformation, driven by rising incomes, rapid urbanisation and expanding digital access. These forces are creating a more informed and discerning consumer, whose preferences are increasingly centred on quality, convenience, health and experience. This shift is giving rise to a value-led, consumer-focused food economy and is projected to create a nearly US$600 billion opportunity in processed food by 2030. As consumption patterns become more diverse, with premiumisation unfolding alongside value-conscious spending, demand is increasingly moving towards differentiated, health-focused and convenience-led offerings. Categories such as nutrition and functional foods are already growing at twice the rate of the broader food market, underscoring the increasing importance of value-added products and consumer-centric innovation. 

At the same time, usage of AI and analytics across the value chain, from demand planning, predictions and forecasting to manufacturing and marketing, is providing a new edge to food processing and consumption, while e-commerce and quick commerce are emerging as important channels for innovation, discovery and premiumisation. Together, these shifts are creating a more dynamic, technology-enabled and innovation-led food ecosystem,” said Anand Ramanathan, Partner and Consumer Industry Leader, Deloitte South Asia. 

“India’s food processing sector is at an important inflexion point. Rising consumer aspirations, expanding digital adoption and increasing investments in value addition are reshaping the industry’s growth trajectory. The next phase of growth will depend on the sector’s ability to strengthen processing capabilities, accelerate innovation, enhance operational efficiency and build globally competitive value chains. Through this joint report, FICCI and Deloitte India aim to provide industry and policymakers with actionable insights to help unlock the immense opportunities ahead and reinforce India’s position as a leading food processing and export hub,” said Jyoti Vij, Director General, FICCI. 

Beyond growth opportunities, the report emphasises the need for greater resilience, competitiveness and execution excellence across the food ecosystem. It highlights the importance of technology-enabled decision-making, stronger export capabilities, supply chain resilience and regulatory ease in supporting sustainable, long-term value creation across the sector.

The report identifies several structural trends shaping the future of India’s food processing industry:

• Digital, health and convenience drive consumption: Indian consumers are spending more while aspiring to consume better, creating a shift towards split-basket purchasing that blends affordability with premiumisation. Powered by digital discovery and rising health awareness, consumers are increasingly seeking convenient, nutrition-led products, helping nutrition and functional categories grow two times faster than the food market, while reinforcing the need for greater clarity and consistency on permissible health, nutrition and functional claims.
• Quick commerce: The urban game-changer: Online channels are expected to account for 25–30% of food retail in top metros by 2030, with quick commerce emerging as a key driver of premiumisation and product discovery. While Traditional Trade will remain dominant nationally and Modern Trade will continue to serve as an experience-led channel, manufacturers will need increasingly differentiated channel strategies, portfolios and pack formats to win across an evolving retail landscape.
• Digital–first innovation gains momentum: Up to 70% of new food launches are now digital-first, with 60–70% of new products launched on quick commerce and e-commerce before entering General Trade or Modern Trade. As companies seek to remain relevant, innovation is increasingly focused on reformulating and renovating existing products while maintaining taste and quality. E-commerce and quick commerce are becoming key channels for innovation and premiumisation, underscoring the need for faster evaluation of novel ingredients and formulations.
• Accelerating value-added food exports: Despite US$50 billion+ in food exports, processed foods contribute only ~20% of India’s exports, indicating an opportunity to accelerate value-added processing. Growth can be supported by scaling diaspora-led demand, taking Indian-origin foods global, and using India’s production strengths to manufacture for global markets. Processed food exports have grown 10% year-on-year, with categories such as processed fruits and vegetables, cereal preparations and dairy and poultry products showing strength.
• Technology becomes a core growth enabler: AI and analytics are increasingly being embedded across the value chain from demand planning and manufacturing to marketing, supporting faster and more consistent decision-making. AI is helping compress the innovation cycle, enable hyper-personalised consumer engagement and improve manufacturing consistency and throughput. As adoption accelerates, technology is becoming an important layer across both back-end and front-end operations, enabling scale, relevance and efficiency. Nearly 84% of Indian CEOs are increasing AI investments, while technology is reducing time-to-insight in the trend-to-concept phase by approximately 30–60%. Continued support for AI, IoT and automation adoption through programmes such as Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PM-FME) could further accelerate technology uptake across the sector
• Regulatory excellence as a competitive advantage: Recent reforms have improved regulatory efficiency, reduced administrative burden and enhanced business predictability. Continued regulatory simplification, harmonisation and implementation clarity can further reduce compliance uncertainty and support innovation-led growth.

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With International Fries Day falling on July 10, 2026, McCain Foods India unveiled a new report titled “McCain Foods’ Spud Report,” which revealed how fries are becoming deeply embedded in India’s evolving food culture, with 36% of Indian consumers choosing French Fries over alternatives such as potato chips and aloo tikki. The findings also reveal that 65% of Indian consumers would happily share fries on a first date, while 56% admit to taking fries from someone else’s plate, highlighting the role fries increasingly play in shared food experiences and everyday rituals.

The findings also point to a broader shift in India’s food culture, where consumers are increasingly seeking convenient, versatile and shareable food experiences. Interestingly, India is also the only market surveyed where fries outperform hash browns as a preferred breakfast potato option, highlighting how the category continues to expand beyond traditional meal occasions.

Beyond consumption trends, the insights also highlight India’s increasingly adventurous approach to food. 38% of consumers pair fries with chocolate, 37% with ice cream and 36% with milkshakes, reflecting a growing openness to experimenting with flavours and reimagining familiar comfort foods. The findings also reinforce how fries have evolved beyond a simple accompaniment to become part of memorable food experiences.

Commenting on the trend, Mainak Dhar, Managing Director, McCain Foods India, said, “Fries have evolved far beyond being a side dish. Today, they are enjoyed as a snack, a comfort food and often a shared experience that creates moments of connection. As consumer lifestyles evolve, we’re seeing fries become relevant across more occasions than ever before, reflecting broader shifts in how people snack, socialise, and indulge.”

The growing popularity of fries is also reflected across India’s QSR landscape, where they continue to be among the most frequently ordered menu items and remain a staple accompaniment to meals.

Akshay Jatia, CEO – Westlife Foodworld (the company that owns and operates McDonald’s restaurants in West and South India), said, “The insights of the report reinforce what we see across our restaurants every day: fries remain a favourite among consumers, cutting across age groups and consumption occasions. Whether enjoyed as part of a meal or a standalone snack, fries have earned a unique place in India’s evolving food culture. Their enduring appeal lies in the simplicity, consistency and ability to bring people together, making it one of the most iconic and loved menu items at McDonald’s. At the heart of this experience is our ‘Golden Promise’, our commitment to serving hot, crisp and great-tasting fries every time.”

As India continues to embrace more flexible and experience-led eating habits, fries are increasingly finding a place across meals, snacks and social occasions alike.

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The report estimates that the country’s food services market, currently valued at around $90 billion in 2025, is expected to grow to nearly $150 billion by 2030. Organised players are projected to lead this growth, expanding at a compound annual growth rate (CAGR) of 17-18%, significantly outpacing the unorganised segment.

According to the study, online food delivery is emerging as a key growth driver for the industry. Its share of the overall food services market is expected to increase from 11% in FY26 to 18% by FY31. Meanwhile, food delivery transactions in Tier-2 and smaller cities have nearly tripled since FY21, reflecting rising adoption beyond metro markets.

The report also highlights the strong recovery of new-age food brands, whose revenues are projected to grow by 25-30% in FY26, around 1.5 times faster than the organised food services market. This growth is being fuelled by digital-first business models, continued store expansion, and deeper penetration into Tier-2 cities.

Digital channels are playing an increasingly significant role in the sector. Redseer noted that digital-first brands now generate around 90% of their revenues online, compared with nearly 50% for traditional restaurant chains, signalling a structural shift towards online-first food businesses.

Some of the growth drivers of the Food Service Market include:

• Increased spending on convenience
• Rising preference for outside meals
• Shift to organised led by new brands

Despite the industry’s strong growth prospects, profitability remains a key challenge. The report said brands are improving margins through cloud kitchen-led operations, streamlined menus, and premium brand positioning, allowing them to scale while maintaining sustainable profitability.

Looking ahead, Redseer identified snacks, desserts and beverages as the fastest-growing categories within the food services market. Products such as shakes, juices, cakes, premium tea and premium coffee are expected to benefit from their suitability for online delivery and increasing consumer demand.

Among beverage segments, premium tea and coffee are forecast to significantly outperform mass-market offerings, with the premium coffee category expected to register a CAGR of 15-18% through 2030.

As demand for convenience, premium experiences and food discovery rises across both metro and non-metro cities, the sector is expected to witness continued formalisation and stronger participation from scalable, technology-enabled food businesses over the next decade.

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According to the Redseer report, India’s grocery market is valued at Rs 55.9 trillion in 2025 and is projected to grow to Rs 84.3 trillion by 2030. Despite the rapid growth of organised retail and digital commerce, kiranas command about 91% of the market today and are expected to retain a dominant 86% share by the end of the decade. The explanation lies in what the report terms the “AOV trap.”

The AOV Trap: A Structural Constraint

India’s largest consumer cohort transacts in grocery baskets worth Rs 100–200. These baskets are not occasional; they are repeated 10–20 times a month, driven by cash-flow realities, preference for small packs, and proximity-led convenience. While this behaviour sustains volume, it undermines the economics of scale-heavy retail formats.

Modern trade formats depend on significantly higher basket sizes to break even. Supermarkets and hypermarkets are structured around monthly or fortnightly stock-up missions with AOVs of Rs 1,500–2,500, required to absorb fixed costs such as rent, manpower, utilities, and inventory holding. When consumer behaviour fragments into low-ticket, high-frequency purchases, these economics weaken sharply.

Online grocery faces an even harsher reality. Fulfillment, last-mile delivery, customer acquisition, and technology costs make small baskets structurally loss-making. As a result, online grocery models perform best only in dense, affluent urban clusters where higher AOVs and order frequency offset costs.

Kiranas remain viable at low AOVs because their cost structures are fundamentally different. Owned or low-rent premises, family-run staffing models, negligible marketing expenses, and minimal logistics costs allow them to operate profitably where others cannot. Rapid inventory cycles, with stock turning every 9–10 days, further improve cash flow and reduce working capital stress.

Quick Commerce: Fast Growth, Narrow Applicability

Quick commerce is the fastest-growing grocery channel in India, projected to grow at 37–39% CAGR and reach about 7% market share by 2030. Within online grocery, its dominance is even clearer: quick commerce accounts for roughly 47% of online grocery today and is expected to reach about 67% by 2030.

However, this growth is not a mass-market disruption. Quick commerce primarily serves affluent, urban households where convenience outweighs price sensitivity. Its gains are largely coming from supermarkets and scheduled e-commerce rather than kiranas. As assortment depth and delivery reliability improve, quick commerce is increasingly absorbing planned grocery missions for high-income consumers, but its economics remain misaligned with Rs 100–200 baskets.

Hypermarkets vs Supermarkets: A Diverging Path

Within modern trade, hypermarkets are proving more resilient than supermarkets. Value-led bulk packs, predictable pricing, and monthly stock-up missions protect hypermarkets from quick commerce disruption. Supermarkets, which overlap heavily with convenience-led top-up missions, are the most exposed to share loss.

Hypermarkets are projected to grow at a 13–15% CAGR, while supermarkets face increasing pressure as convenience-driven consumers migrate to faster fulfilment models.

What Consolidation and Scaling Could Look Like in 2026

As low-ticket grocery baskets continue to dominate Indian consumption, consolidation and scaling in 2026 will be driven less by topline growth and more by hard unit economics. The constraint is structural: average order values of Rs 100–200 leave little margin for inefficiency. Formats that cannot profitably serve these baskets will either consolidate, retreat to niches, or exit.

In online and quick commerce, consolidation is likely to accelerate. Only platforms with dense dark-store networks, strong city-level scale, and tight fulfilment control will survive. Players operating with weak density or overlapping catchments will struggle to absorb fulfillment and customer acquisition costs on small baskets. The outcome is likely to be fewer, larger platforms focusing on affluent urban clusters, deeper private-label penetration, and deliberate basket expansion rather than mass-market reach.

Modern trade will see selective scaling, not uniform expansion. Hypermarkets with a clear value-led proposition, bulk-pack dominance, and disciplined cost structures will continue to add stores in dense urban and peri-urban markets. Supermarkets face the highest consolidation risk. Their convenience-led missions overlap directly with quick commerce, but without matching either its speed or kiranas’ cost advantage. Store rationalisation, portfolio pruning, and format recalibration are likely in 2026.

For kiranas, consolidation will not mean disappearance but aggregation. Scaling will increasingly occur through networks rather than store closures. Distributor alliances, eB2B platforms, and informal buying groups will improve sourcing efficiency, credit access, and inventory planning, while preserving the kirana’s low-cost front-end. The kiranas that scale best will be those that adopt digital tools selectively to improve stock turns and cash-flow visibility without inflating operating costs.

Across formats, 2026 will reward operational sharpness over expansion-at-all-costs. Scale will matter only when it directly improves cost-to-serve in a low-AOV environment.

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According to Handpickd’s 2025 order data, consumers did not experiment more. They simply ordered more often. Let’s understand how urban India, especially Gurgaon, Noida and Bengaluru ate in 2025. While industry giants fought over discounts on 5kg potato bags, a quieter revolution was happening in the microdelivery segment. According to annual data from Handpickd, the most coveted item of 2025 wasn’t the mighty onion, it was the humble Coriander (Dhania).

This data aligns with broader 2025 market trends where Indian consumers moved away from “pantry loading” (weekly bulk buying) toward “top-up behavior,” ordering ingredients hours, or even minutes, before a meal.

The Insight: Freshness Over Storage

Handpickd’s data reveals that Coriander topped the charts across all formats, single bunches, root-on, and bundles. The dhania–mirchi (coriander-chilli) special combo alone crossed 24,000 orders. This signals that consumers are no longer treating fresh produce apps as digital warehouses, but as an extension of their own fridge. They aren’t buying to store; they are buying to cook now. Tomatoes across hybrid, desi and mixed-size formats were among the most repeatedly reordered items, followed by ginger, capsicum, bottle gourd, cauliflower and Nashik onion.

The data points to regular, everyday cooking rather than bulk purchases or occasion-led consumption.

The Democratisation of ‘Exotic’

Perhaps the most “realistic” yet exciting trend of 2025 was the demystification of gourmet ingredients. The broader market saw a surge in “Global Home Cooking” driven by Instagram food culture, and Handpickd’s numbers confirm this.

Orders for exotic produce skyrocketed 20-fold, leaping from a modest 689 in 2024 to 14,659 in 2025. The critical insight here is integration. Avocados, colored capsicums, and broccoli didn’t replace Indian staples; they joined them. The data shows exotics being checked out alongside tomatoes and ginger, proving that a Tuesday night dinner in 2025 was just as likely to feature a stir-fry or a guacamole toast as it was a dal-chawal.

The ‘Clean Label’ Wave

In 2024, “Ozonised” or “Hydroponic” were buzzwords for the elite. In 2025, they became a middle-class requirement. With news of pesticide usage frequently making headlines, Handpickd saw the share of Ozonised produce rise from 4% to 38%. This 34% swing is not just growth; it is a migration. It suggests that for nearly 4 out of 10 consumers, safety and hygiene have become non-negotiable attributes of freshness and they strongly believe that this number will only grow from here. 

The Comfort of Consistency

Despite the exotic boom, the fruit basket remained remarkably grounded.

• Banana Robusta (22,249 orders) took the top spot, proving that while Indians love to experiment with dinner, they prefer their old breakfast habits.
• Coconut Water (13,000+ orders) surged, mirroring a national trend where consumers are swapping carbonated sugar drinks for natural hydration.
• Malai Paneer emerged as a top-selling dairy SKU, reinforcing that even in the age of ultra-processed foods, the Indian consumer craves the “homemade” texture of artisanal dairy.

Summary: The 2025 Kitchen

The data paints a picture of a disciplined, discerning, and demanding consumer. The 2025 shopper didn’t want a fridge full of rotting vegetables; they wanted a fresh bunch of coriander delivered to their doorstep. They were willing to pay for safety (Ozone) and variety (Exotics), but they remained loyal to the staples that define Indian cooking.

Handpickd 2025: Key Food Consumption Stats

• Coriander topped the urban vegetable consumption in 2025, overtaking staples like onion and potato across all formats on Handpickd.

• The dhania–mirchi combo crossed 24,000 orders, making it one of the most frequently reordered SKUs of the year.

• Gurugram led fresh food consumption with 590,149 orders in 2025, recording nearly 4–5x higher volume than other cities on the platform.

• Exotic produce orders jumped 20 times year-on-year, rising from 689 orders in 2024 to 14,659 orders in 2025, the highest growth across any fruit or vegetable category.

• Banana Robusta emerged as the most ordered fruit with 22,249 orders, anchoring everyday fruit baskets.

• Fresh coconut water crossed 13,000 orders, reflecting a growing shift towards natural hydration over packaged beverages.

• Adoption of ozonised produce rose sharply from 4% to 38% in one year, signalling increased consumer focus on clean and safe food.

• Fresh malai paneer ranked among the top-selling dairy SKUs, highlighting preference for products that feel close to homemade quality.

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Price transparency and honest communication now define the credibility of a brand. Nearly three in four consumers (74%) say they would switch brands for a lower regular price, or if the pack size or quality is reduced without clear notice (71%). A majority consider shrinkflation unfair, with most preferring a small, explicit price increase over discreet downsizing.

The research finds that around half of consumers are buying smaller quantities and choosing cheaper alternatives to manage budgets. However, brand trust prevails in categories where quality and performance are paramount, with 77% of consumers across income brackets avoiding private labels for items like electronics and baby care. Yet, amidst increasing financial stress, emotional release also plays a key role when shopping – seven in ten consumers seek small indulgences to relieve money worries, highlighting that value is both practical and emotional.

“Value today goes beyond price and quality; it’s built on fairness, transparency, and emotional connection. Consumers want invisible AI that both empowers informed decisions and seamlessly blends convenience and emotional connection,” said Dreen Yang, Global Consumer Products & Retail Leader at Capgemini. “AI is increasingly reshaping the shopping experience, but success depends on clarity, responsible use, and safeguards that protect consumers. Brands that blend technology with trust and purpose will enjoy lasting loyalty.”

AI is becoming a trusted shopping guide, but consumers want control of their data

AI has transitioned from an enabler to a trusted advisor for consumers. From interpreting user preferences and behaviors to providing real-time, conversational support through chatbots and virtual assistants, AI tools are now central to how shoppers navigate the marketplace. One in four consumers used Gen AI shopping tools in 2025, and a further 31% plan to adopt them in the future. Yet, only 19% are willing to pay a monthly subscription or a one-time payment for chatbots or virtual shopping assistants.

The majority of shoppers (76%) want to set boundaries for AI assistants, and two-thirds say they trust AI more when it explains the reason behind its recommendations and actions. Data transparency remains pivotal, with 71% of consumers worried about how Gen AI uses personal information. Two-thirds of consumers expect brands to disclose AI-generated advertising.

Technological convenience, augmented by human connection, is driving brand loyalty

Consumers want efficiency, relevance, and human connection to co-exist. Nearly two-thirds want Gen AI to provide hyper-personalized content, and 65% say technology has made shopping less stressful. However, more than seven in ten consumers value human assistance during complex purchases such as planning meals or resolving service issues. Brands that blend speed and personalization with timely human reassurance will gain consumer loyalty.

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