India’s Food & Beverages Market Set to Nearly Double by 2030, Driven by Urbanisation and Digital Reach

The Indian Food and Beverages (F&B) market is one of the country’s largest and fastest-growing sectors, with strong growth expected through the rest of this decade. In 2023, the market was valued at around US $332 billion, and it is projected to nearly double to about US $691 billion by 2030, growing at an annual rate of roughly 11.05 %.

This growth is driven by several key trends:

• Lifestyle and Consumption Changes: Rising urbanisation, higher disposable incomes, and evolving tastes are increasing demand for packaged foods, ready-to-eat meals and premium beverages.
• Modern Retail & Digital Shift: The expansion of supermarkets, online grocery platforms and food delivery services has widened consumer access to a broader range of products, especially among younger buyers.
• Health & Sustainability Trends: Demand for health-focused, organic, low-sugar and plant-based foods and drinks is rising as consumers become more conscious about nutrition and wellness.
• Balance of Tradition & Innovation: While modern convenience foods are growing, traditional regional foods and ethnic flavours continue to play a substantial role in Indian diets — creating a unique mix of old and new offerings.

The market includes diverse product categories like dairy, bakery and confectionery, beverages (alcoholic and non-alcoholic), fruits and vegetables, and ready-to-eat foods. Distribution channels range from supermarkets and specialty stores to online retail, reflecting how consumers are shopping across formats.

Overall, this mix of strong underlying demand, innovation, digital reach and cultural diversity positions India’s F&B sector for long-term, resilient growth both domestically and globally.