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India Food Report 2024-25

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The India Food Report 2024-25, created by IMAGES Group in collaboration with consultancies, think tanks, and food industry experts, is a result of thorough research and hard work. Just like in the earlier editions of the Report, we’ve gathered loads of data, conducted research, and analyzed everything. Our goal is simple: We want this Report to give you a comprehensive picture of India’s food retail sector. This Report talks about the possibilities in both Food & Grocery and Foodservice sectors, suggesting things that are needed for steady growth. It talks about business chances, possible investments, and points out challenges that needattention.

Understanding and figuring out any industry is all about having the right information that’s easy to get. I’m happy because the info and research packed into The India Food Report 2024-25 will help everyone really get what’s going on in India’s food retail world. Huge thanks to the leading consultants, think tanks, and experts in India’s diverse food industry who pitched in to bring together this Report. Your help has been priceless, and I’m truly grateful for it.

So, as you dive into this Report, remember, it’s not just about facts and figures. It’s about getting a closer look at the heartbeat of India’s food retail scene, understanding the trends, and exploring the opportunities that lie ahead.

What we found in the IMAGES Research for The India Food Report 2024-25 is that Covid 19 really shook things up big time. But, after a bit of a slow-down in 2020-21, guess what? In 2022, things bounced back strong, with a growth rate of 10.9 percent compared to the year before. The market size hit a whopping INR 57,21,593 crore (USD 689.35 billion). With things going well and a cheerful festival season just behind us, we’re hopeful of 2023 being on track to see a big 12.3 percent expansion. That could shoot up the whole food and grocery market in India to a whopping INR 64,25,349 crore (USD 774.14 billion). Looking ahead, we’re picturing a steady growth path with a projected Compound Annual Growth Rate (CAGR) of 10.9 percent from 2020 to 2023. If things keep rolling like this, we could be looking at a massive size of INR 132.84 billion (USD 1.6 trillion) by the year 2030.

In this edition of The India Food Report, here’s another bit of good news from IMAGES Research: People’s spending on household stuff, or just regular shopping, hit a whopping INR 1,43,44,336 crore (USD 1,728.23 billion) in 2022. It grew at a cool 11.3 percent from 2012 to 2022. But the years 2020 to 2022 had a bit of a slowdown, with a CAGR of 8.2 percent. That’s because of the pandemic throwing a curveball into how much everyone was buying.

Even with the pandemic slowing things down, the fact that people kept spending more on household stuff shows that we’ve got a strong base of shoppers. It means, even when times get tough, there’s a real and lasting need for things like food and other stuff.

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