India's food market size to reach Rs 42 lakh crore by 2020, says Boston Consulting Group

MUMBAI: The market size for food in India, which was at Rs 23 lakh crore in 2014, is set to reach Rs 42 lakh crore by 2020, Boston Consulting Group said today. "India’s food market size which is at around Rs 23 trillion in 2014 is set to reach around Rs 42 trillion by 2020, along with a three-time increase in average household income from 2010-2020," Boston Consulting Group (BCG) Principal Rohit Ramesh said at the India Food Forum 2015 here. Unlike China, which underwent a dramatic diet change, Indian food habits are seen to be changing gradually, with proportional increase seen in both fresh dairy products as well as protein foods, since food expenditure is perceived second only to health expenditure in India.

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