The beverage industry in India is yet to grow to its full potential in terms of its size and place in the market, although the industry has been in existence for a considerable time.
At present, India is in the third largest beverage consuming country after the United States and China, with10% share. And it is being looked as a great potential, even more so than China .According to Indian Brand Equity Federation (IBEF), the output value of the Indian beverage market in 2007-08 was USD 155 million and the projected growth was 27%.
RNCOS, a leading market research firm, has asserted in its report “Indian Food and Drinks Market: Emerging Opportunities” that the industry will open new horizons of developments for new players showing willingness to invest in it.
The government has adopted a flexible approach to boost the flow of money in this sector by easing existing policies. Moreover, it (government) has set a target of achieving investment USD 21.08 Billion by 2015 which will enable India to expand its contribution in the global processed food trade from an estimated 1.7% in 2008 to 3% by the end of 2015.
According to the India Food and Drink Report Q3 2008, by research analysis firm Research and Markets, by 2012, India’s processed food output is likely to grow by 44.2% to touch USD 90.1 billion. The packaged food sales will be increased by 67.5 % to reach USD 21.7 billion. On a per capita basis, packaged food spending is expected to grow by 56.5% to USD 18.06 by 2012.
Non-alcoholic Drinks Companies actually see India as a potential market. According to industry experts, the market for carbonated drinks in India is worth USD 1.5 billion while the juice and juice-based drinks market accounts for USD 0.25 billion. Growing at a rate of 25 %, the fruit-drinks category is one of the fastest growing in the beverages market. For example,in the second quarter of 2009,the Coca-Cola Co, reported its profit climbed 43 % getting a boost from double-digit unit case volume growth.
Companies and markets, publishers of global market research reports and analysts, in its recent report “Indian Non-Alcoholic Drinks Forecast to 2012,” said that the Indian non-alcoholic drinks market was estimated at around Rs 216 billion in 2008 and is forecast to grow at a CAGR of around 15% during 2009 to 2012. The research report covers various factors driving the growth of non-alcoholic drinks market in India.
The government has adopted a flexible approach to boost the flow of money in this sector by easing existing policies. Moreover, it (government) has set a target of achieving investment USD 21.08 Billion by 2015 which will enable India to expand its contribution in the global processed food trade from an estimated 1.7% in 2008 to 3% by the end of 2015.
According to the India Food and Drink Report Q3 2008, by research analysis firm Research and Markets, by 2012, India’s processed food output is likely to grow by 44.2% to touch USD 90.1 billion. The packaged food sales will be increased by 67.5 % to reach USD 21.7 billion. On a per capita basis, packaged food spending is expected to grow by 56.5% to USD 18.06 by 2012.
Non-alcoholic Drinks Companies actually see India as a potential market. According to industry experts, the market for carbonated drinks in India is worth USD 1.5 billion while the juice and juice-based drinks market accounts for USD 0.25 billion. Growing at a rate of 25 %, the fruit-drinks category is one of the fastest growing in the beverages market. For example,in the second quarter of 2009,the Coca-Cola Co, reported its profit climbed 43 % getting a boost from double-digit unit case volume growth.
Companies and markets, publishers of global market research reports and analysts, in its recent report “Indian Non-Alcoholic Drinks Forecast to 2012,” said that the Indian non-alcoholic drinks market was estimated at around Rs 216 billion in 2008 and is forecast to grow at a CAGR of around 15% during 2009 to 2012. The research report covers various factors driving the growth of non-alcoholic drinks market in India.
Copyright@Business Economics March 1-15 page26
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