Food Processing! Business opportunities in 2024
Welcome to the blog post ‘Food Processing! Business opportunities in 2024.’
This blog post will examine the food processing industry. In this blog post we are going to explore this Industry, Segment, Benefits, Business opportunities, Hygiene food, Diabetic food, Mega Food Park, Modernization of slaughterhouses (abattoirs), Bio-Agriculture and so on. Don’t miss any content form blog series. Stay with us till end.
What is Food Processing
Food is likely to be referred to as both food and commerce. Samosas had traveled from India to Africa. And it’s thought that a samosa-like dish made its way to India via the trade routes from Central Asia. According to legend, the Indian fried pakora even influenced the tempura style used in Japan. Let’s take a moment to consider the overall picture of this industry as we usher in the modern era.
Food Processing Industry
Any nation’s economy depends on the food processing sector because it connects agriculture and industry. Due to changing lifestyles, the food processing industry is crucial to the development of any nation. When food is processed, components like vitamins and minerals are added to the food to enhance its nutritional value.
Food processing is a process or method used to turn raw ingredients into well-cooked, well-preserved foods that can be consumed by both humans and animals. They are very marketable and are packaged attractively.
Segment of Food processing
There are 3 levels in food processing.
1st Primary processing sector
In primary processing of food, raw foods like fruits, vegetables, milk, rice, spices, etc. are sorted, graded, and packaged.
2nd Secondary Processing Sector
Food is reshaped for ease of consumption in the secondary processing sector of the food industry. Together, the primary processing and secondary processing sectors account for about 62% of the processed foods industry’s total value.
& 3rd Tertiary Processing sector or Value Added Food Segment
Food Processing at the Tertiary Level or the Value-Added Food Segment
Value addition is the process by which a primary product’s value can be raised through processing, packaging, improving the quality, or other means. In the market for processed foods overall, this sector accounts for about 38% of sales. When compared to cereal crops, horticulture products, such as fruits and vegetables, have a higher potential for value addition.
Benefits of Food processing
Look at the advantages of food processing. This industry’s activities double farmers’ incomes, create jobs, and reduce migration. Reduce food waste and malnutrition. This increases trade and foreign exchange earnings. Food processing allows for the year-round availability of seasonal raw foods like fruits and vegetables, which helps to control food inflation.
Increase Crop-diversification
The diversification of horticultural crops, particularly fruits and vegetables, has been crucial in ensuring the security of nutrition. Food processing keeps foods from spoiling due to microbes and other spoilage agents, preserving their nutritive quality and extending their shelf life.
Business Food processing in global trends
By 2050, the world’s population is expected to increase to 9.3 billion people, necessitating an increase in agricultural production of 70% globally and nearly 100% in fast-growing economies. With 17% of the global population and 1/3 of Asia’s population, India will have the largest population in the world by 2030. India, China, Indonesia, the Philippines, and Pakistan will actually account for more than 50% of global population by 2050.
These days growing need for food as a result urbanization-related consumption
The demand for processed foods and meat protein will rise as two thirds of the world’s population move into cities by 2050; in Asia, protein consumption will have increased by 128%.
Economic power shifts will cause the E7 (China, India, Brazil, Mexico, Russia, Indonesia, and Turkey) to surpass the G7 (Canada, France, Germany, Italy, Japan, the United Kingdom, and the US) in size and purchasing power by 2030. Food safety and hygiene are now a top priority in this industry due to the rise in demand and rapid growth of imports and exports in important emerging markets.
Global market of processed food
Processed food is in demand on the global market. The growth of the world economy will increasingly be driven by emerging markets like India, Indonesia, China, and Malaysia. Food and beverage exports and imports both have a rapidly increasing share in these markets.
Due to an expanding customer base, manufacturing and processing will increasingly move to these markets. By 2030, the Asia-Pacific region will house 65% of the global middle class. The demand for manufactured, processed foods will rise as disposable incomes in emerging economies rise.
Due to rising demand for prepared foods, a growing number of working adults, and an increase in students, the Asia Pacific will continue to be the largest region over the forecast period. Consumers are turning to nutritious and high-quality food items thanks to the rising health consciousness. Leading nations consumer are seems today spending on food. Indians spend 31% of their total income on food and groceries, making the country’s market for these items the sixth largest in the world. Contrarily, consumers in the US only spend 9 percent on food, compared to 17 and 25 percent in Brazil and China, respectively.
Leading food processed industry regions worldwide are EU (44% of global turnover);USA (20% of global turnover);19% of global sales are from China. The EU food processing sector alone has twice the annual revenue of the US and China. However, over the following few decades, this will drastically change.
Business opportunities in food processing
With increased awareness, improved health consciousness, the need for convenience, improved lifestyles, and an increase in processed food consumption, consumer tastes and preferences are changing over time. This change is supported in India by an increase in per capita income, a sizable young population (60 percent of whom are under 35), increased retail penetration, and an increase in the number of nuclear families. Therefore, it is anticipated that India’s demand for processed food will rise by about 8.5 percent.
For business opportunity identifying the potential products is necessary
For the commercial opportunity it is necessary to identify the potential products.
Production of a wide range of crops as opposed to a fixed set of crops generates a lot of business. The market report claims that the food processing industry has a bright future with opportunities in the processed foods for beverages, dairy, meat, poultry, convenience foods, snacks, fruits, and vegetables. The main factors influencing this market are a changing lifestyle, an increase in nuclear families, and the number of working women.
Hygiene food
The importance of hygiene to food safety is growing. There is an increasing demand for information about the provenance of food, as well as a growing interest in ethical, sustainable, and healthy food production. The prevention of disease is now considered a key benefit of food processing. Due to the trend towards a vegan diet, the processed fruits and vegetable segment is anticipated to grow at the fastest rate over the forecast period.
Diabetic food
One of the industries that is expanding quickly is the manufacturing of diabetic food. In some Indian states, this industry is present. Diabetic food has a large export market, and the equipment needed to produce it is readily available. In developing nations like India, the online food ordering industry is in its infancy and expanding exponentially.
Being independent Agrarian nations like India export a lot of raw food to developing nations, but they always import more processed food than they export. In the current globalized world, developing nations like India should firmly believe in two-way trade. Again, this shows that there is room to climb the value chain.
Food exports
The increase in food exports has created a lot of opportunities with improving infrastructure and storage capacities.
Modernization of slaughterhouses (abattoirs)
Modernization of slaughterhouses (abattoirs) with the following Norms for animal slaughter
Mega Food Park
Food processing business opportunities must be based on the farm to market hub and spoke model. Opportunity in Mega Food Park’s formation means there is a need for people who can raise money and who have the necessary skills and experience with the infrastructure for Cold Chain, Value Addition, and Preservation Possibilities. Having a facility for weighing, sorting, grading, waxing, pre-cooling, Control Atmosphere (CA)/Modified Atmosphere (MA) cold storage, regular storage, and Individual Quick Freezing (IQF) is an opportunity in processing centers at the farm level. Variable Humidity Chambers, Packing Equipment, CIP Fog Treatment, Blast Freezing Equipment, and Irradiation Equipment Reefer trucks and mobile pre-cooling vans are always necessary.
Opportunity in Distribution supply chain
Bio-Agriculture
Demand for bio-agriculture is rising right now. Bio-pesticides, bio-fertilizers, and genetically modified seeds make up this category. Despite initial challenges, plant genetic engineering and biotechnology, with a focus on food and nutrition, may play a significant role in the Indian agricultural scenario.
Few facts of Global processed food
There are surprisingly few success stories surrounding the global takeoff of foreign cuisine in India: To name a few, there is pasta from Italy, Vietnamese basa, mayonnaise, Californian almonds, Canadian canola oil, Chilean walnuts, and Washington apples. Californian almonds, which account for about 80% of the country’s market for almonds, recently reached a record-breaking US$ 693 million in sales. The unorganized sector dominates India’s highly fragmented food processing industry. The unorganized sector accounts for about 42% of the output, the organized sector for 25%, and small players for the remaining 72%. Comparatively to the primary processing segment, the organized sector is larger processing segment.
Conclusion
Just a few words to wrap up. Be sure to eat. And invest in new design and technology to improve food quality and flavour and give consumers more options when choosing what to eat. The global food processing industry may present challenges, but your company must add value. You have the chance to develop your skills in everything from processing to farm gate activities. Farmers’ food can be linked up with markets all over the world. Can we connect the customs of our nations to the work that humanity will do in the future? Can we connect your business potential to the need for food processing globally? Production, processing, and prosperity take place here. Keep Reading! Thank you.
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