Market size of food and beverages sector in India 2019-2023

The food and beverage market was valued at 170 billion U.S. dollars in 2023 in India. This was an increase in comparison to the previous year.

Indian food market

Baked goods, convenience food, confectionaries and dairy make up the packaged food segment. Biscuits are arguably the soul food of citizens, where ‘chai pe charcha’ (conversations over cups of tea) is an essential evening routine. The packed organic food and beverages sector had a market size of over 500 million Indian rupees in 2016. Private equity investments also increased significantly in the industry in 2016 and 2017.

Beverage market

Tea is the most common beverage in the northern parts, while in the south, the affection towards a hot beverage is shared between tea and coffee equally. Fruit juices and soft drinks are the commonly consumed non-alcoholic beverages throughout the nation. Adherence to safety measures and quality food supply accompanied by strong global competition is likely to keep the industry’s plate full and stir it towards future expansion.