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India ranks third in production of dried and preserved vegetables: Report
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Thursday, 14 July, 2016, 08 : 00 AM [IST]
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Lewes, DE
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fiogf49gjkf0d India is the world's second-largest producer of vegetables in the world next only to China. But the fruit and vegetable processing industry in India is highly decentralised. A large number of units are in the small-scale sector, having small capacities up to 250 tonne per annum though big Indian and multinational companies have capacities in the range of 30 tonne per hour or so. Hence India now ranks only third in the production of dried and preserved vegetables, according to a recently-released report --Dried and Preserved Vegetable Market in India 2016-20--by Novonous, a company offering services in business research, reports and newsletters.
In dried and preserved vegetable market high return is usually in the export market, especially Europe. The export customers are mostly ready-to-eat food manufacturers and hotel chains in those countries. Any economic slowdown in Europe or other export markets would negatively affect the businesses of export customers which in turn would affect the order quantity and hence the dried and preserved vegetable market.
Ambarish Kumar Verma, MD, Novonous Business Consulting Pvt. Ltd, said, "The dried and preserved vegetables market in India is highly fragmented with many small and regional players producing to meet the demand of the Indian market. Most of the export market is dominated by big players in the industry. Most of the companies produce a wide variety of products which are used for different applications in the food processing industry."
This report covers a detailed analysis of five companies which are spread across different regions around India. The objective of this report is to analyse the current scenario of the Indian dried and preserved vegetables market and to project the market growth over the next five financial years.
According to Novonous, the dried and preserved vegetables market of India is expected to grow at a CAGR of 16% by the year 2020. The supportive agro-climatic conditions, potential domestic market, cost-competitiveness, and government support are some of the key factors which will drive the growth of this industry.
This report provides end-user-wise, processing method-wise and product-wise insights on dried vegetables market in India, growth drivers and inhibitors, key trends, profiles of key players, major challenges for new players, current and future trends and recommendations for policy makers, service providers & investors.
The report also has a case study of Artocarpus Foods Pvt. Ltd, which was setup in Kannur district of Kerala on May 2015. How it has become the first full-fledged jackfruit processing venture in India was discussed in the report.
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