COUNTRY PROFILE
Discover more about the Indian market including overviews about the retail, foodservice, and food-processing sectors. Events, resources, and more are linked throughout the profile.
$202.4 million
total U.S. exports of processed foods to India in 2024
14th
India is the U.S.’s 14th largest agricultural export market.
18%
India accounts for 18% of the world’s population
USDA’s Office of Agricultural Affairs (OAA), in New Delhi, hereinafter referred to as “FAS Post New Delhi” reports that India continues its rapid economic growth journey in 2024 as the fifth largest economy in the world. It is projected to surpass Japan to become the third largest economy by 2030.
In 2023, U.S. exports of agricultural products to India totaled just over US$1.9 billion, making India the 14th largest agricultural export market for the U.S. U.S. exports of processed foods grew 25% to US$202.4 million.
Top U.S. processed food exports to India in 2024 included:
Market Opportunities
Key Issues
$719 billion
estimated total retail sales in the packaged food market in 2023
$167.4 Billion
expected reach of retailed packaged food sales in India by 2029
10th
largest food and grocery market in the world
According to Euromonitor, retail sales in the packaged food market in India will reach US$105.5 billion in 2024. By the year 2029 the retail sales in the packaged food market in India is expected to reach US$167.4 billion, a growth rate of 44.1% and US$51.2 billion from 2025.
India’s food retail sector is diverse, encompassing both modern and traditional formats, and is supported by a complex network of stakeholders involved in the supply chain. FAS Post New Delhi reports that India’s retail food sector is experiencing significant growth, driven by increased household purchasing power, rising awareness of gourmet products, and a growing economy. Modern retail stores and the online and quick commerce segments are growing rapidly.
Indian consumers are increasingly opting for high-quality proteins, a variety of fresh fruits and vegetables, and superfoods such as berries and nuts. Additionally, processed products like low-sugar cereals, specialized flours, unique soft beverages, condiments, sauces and indulgent items like chocolates and marshmallows are gaining popularity.
$77.5 billion
India’s foodservice is estimated at US$77.5 billion for 2024
2x
the hospitality industry is expected to nearly double between 2024 – 2029.
700
India has over 700 luxury hotels.
FAS Post New Delhi reports that India’s Hotel, Restaurant and Institutional (HRI) sector is experiencing rapid growth, driven by urbanization, rising incomes, and an expanding middle class opting for meals at restaurants and interest in exploring new cuisines. The expansion of international hotel chains and a thriving restaurant industry is creating significant demand for diverse and high-quality food products, and imported ingredients are increasingly in demand.
India’s foodservice market is estimated at US$77.5 billion for 2024 and is projected to reach US$125 billion by 2029. Similarly, the hospitality industry is projected to grow significantly from US$247 billion in 2024 to US$475 billion by 2029. India’s hotel market growth is driven by rising tourism, domestic travel, and business expansion in Tier I and Tier II cities.
FAS Post New Delhi reports that India offers opportunities for U.S. exporters, especially after the removal of retaliatory tariffs on almonds, apples, chickpeas, lentils, and walnuts.
35-40%
of consumer expenditures is food
$33.7 Billion
value in the packaged food and beverage
9 Million
The food processing sector in India is forecast to add 9 million jobs by 2024.
The Indian food and beverage packaged industry is experiencing substantial growth with market size projected to increase from US$33.7 billion in 2023 to US$46.3 billion by 2028. Key drivers behind this growth include rising consumer demand for packaged products due to shifts in consumption habits and changing lifestyles.
India’s food processing industry primarily depends on domestic agricultural ingredients and inputs, and the domestic industry is the main competitor for U.S.-origin exports
FAS Post New Delhi reports that recent expanded market access and tariff reductions for U.S.-origin frozen turkey, frozen duck, and all forms of blueberries and cranberries (fresh, frozen, dried, and processed) present good opportunities for trade expansion.
