Indian Beverage Industry Poised for Rapid Growth

1. Indian Beverage Industry Poised for Indian Beverage Industry Poised for Rapid Growth Rapid Growth Are you planning to enter into beverage industry in India? Are you looking for expert beverage consultants who can help you with the same? If yes, then you are in the right place. India is one of the largest food and beverage markets in the world. India’s huge domestic market adds to growth of food beverage industry in India. In spite of current economic slowdown, India’s food and beverages market is headed for tremendous growth in future. According to a report by Statista, the food and beverages market in India is expected to reach USD 10,676 million by 2024, growing at a Compound Annual Growth Rate of 14.4% percent between 2020 and 2024. The user penetration into the industry is projected to hit 21.5% by 2024. Huge Rise in Alcoholic Consumption Indian beverage market comprises of a lot of products including fruit juices, cool drinks, alcoholic beverages like whiskey, wine, bear, etc. Particularly, the alcoholic beverage market in India has shown significant growth over the past few years. The consumption of alcohol has increased by more than 55% in last 20 years in India. India is the third-largest liquor market in the world. The rapid growth in the alcoholic consumption is attributed to rise in standard of living of people, growing urban culture, large young population, etc. Non-alcoholic beverages contribute to 8-9% of FMCG market in India. The non-alcoholic market has been registering a growth of 20-23% over the past few years in India. According to a report, the beverage category contributes 8-9% of the Indian FMCG market. The market is growing at 20-23% and is expected become three times the current size by 2020. Realizing the huge potential of beverage industry in India in future, PepsiCo has recently announced an investment of Rs. 814 crores into its Uttar Pradesh plant in order to meet the increasing demand. The company is looking to double its business in India and increase the capacity of its food plants in the states of Maharashtra and West Bengal. The is also in plans to setup a greenfield manufacturing plant in Assam. Now is the best time for businesses to enter into food and beverage industry in India. If you are a first-generation entrepreneur planning to foray into the food and beverages industry or an existing industry facing issues with your business, then kindly register with SolutionBuggy, India’s thought leader in the manufacturing industry and get assistance from expert beverage consultants. SolutionBuggy’s experienced beverage consultants can guide you right from market research, product identification and plant set-up to complete product manufacturing, quality checks, product safety, waste management and staff training. Till date, SolutionBuggy completed more than 350 consulting projects successfully for 280 clients in the food industry. Company name: SolutionBuggy Email id: sales@solutionbuggy.com Url: https://www.solutionbuggy.com/sb/beverage-consultants.html