Food and beverage products chuck over 30 per cent off the consumer wallet and two-third of it is spent on primary and secondary processed products.
Also, an increase in the throwaway incomes of Indians and their changing attitudes towards processed foods has catalysed the food processing growth speedily. As per a recent FICCI-Ernst & Young study, while the per-capita disposable income is up by 8 per cent in the last five years, it has led to an increase of 20 per cent in per-capita food consumption expenditure.
“Another booster for food processing is rise in the number of working women. This shows hectic lifestyle and the need for convenience, the Indian consumers are adapting to processed food consumption,” the report said.
The Expert’s Thought: The development would create more jobs in the industry.