Market size of packaged food sector India 2022-2029

In 2023, the market size of the packaged food sector was 2.8 billion U.S. dollars in India. The size of the packaged food market is likely to reach about 6.4 billion U.S. dollars by 2029. This remarkable expansion reflects changing consumer preferences and the increasing demand for convenient, ready-to-eat food options in the world's second-most populous country.

Dairy and snacks lead the way

The packaged food sector in India is dominated by dairy products, which accounted for 38.8 percent of the total retail market in the financial year 2022. Snacks and sweets followed closely, contributing 32.3 percent to the market share. This distribution highlights the strong cultural affinity for dairy-based products and the growing appetite for convenient snack options among Indian consumers. 

Key players in a competitive landscape

Major food companies are vying for dominance in this rapidly expanding market. Nestle India reported the highest revenue among packaged convenience food companies in 2022. Britannia and Parle closely followed, with revenue exceeding 160 billion rupees. In the naturally healthy packaged food segment, Amul and Haldiram Foods led the market, each holding just over seven percent market share.