The report underlines new product development, technological advances in ingredient introductions and regulatory support as key growth drivers of H&W food and beverages industry in the country.
Briefing reporters, Tata Strategic Management Group CEO Raju Bhinge said “the global Health & Wellness food market estimated at $460 billion in 2008 has grown at twice the rate of the packaged foods market during 2002-2008. With the growing awareness of lifestyle diseases in India, domestic consumers are increasingly open to the benefits provided by H&W foods.”
Therein, Bhinge said lies the mega-opportunity that Indian food & beverage companies could leverage to create packaged food brands in India. “This market (H&W foods) could magnify 1.5 times to Rs 55,000 crore by 2015 with advances in product development and Government mandated fortification,” he added.
DH News Service
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