Its’ an honour to be a part of AFSTi & serve as Hon.Treasurer – AFSTi Mumbai Chapter and contribute to the various initiatives under the Visionary Leadership of the Chapter President & Secretary.
Food Sector, Tagged as one of the largest marketplaces of the 21st century, in the last couple of decades, has truly come into its own.
Globally, The Food processing industry is a high growth industry and the same applies for it in Indian market. India is the second largest food producer in the world after China with, food processing accounts for almost one-third of the total food market in India. It is the fifth largest industry domestically in terms of production, consumption, export, and expected growth in the country. As per an estimate, India’s food consumption is expected to reach USD 1 trillion by 2025.
The development of food processing industry is necessary due to the rise in the disposable income in the hands of middle class, changing food habits and rapid urbanization, the changing dietary preferences towards the processed and packaged food, growing nuclear families and working women, changing demographics and rise in disposable income, increase in demand for functional food.
The last ten years, the industry having undergone a spate of changes owing to ever-changing consumer demands and massive innovations. What comes to notice here is the rapid increase in the number of challenges of food industry.
Undeniably, the challenges faced by food sector are dime a dozen (Poor supply chain linkages, infrastructure bottlenecks, lack of skilled manpower, low adherence to quality standards, presence of a stringent regulatory landscape etc) and the fact that a single change is bound to affect the entire supply chain. Newer markets, changing consumer spending, increasing food prices, global appetite, and advanced technology are slated to bring about extensive changes in this sector in the next few years.
The government of India recognizes the need to encourage India’s food processing sector given the country’s immense potential and has been developing the entire Eco-system by initiating various schemes for the promotion and development of the food processing sector, foster Research & Development, skill development, entrepreneurship, help in the reduction of wastage, improve value addition, promote crop diversification, ensure a better return to the farmers, promote employment as well as increase export earnings etc.
At AFSTi, the efforts are taken to address the key challenges and bridge the gap within the Food Eco System developing a sustainable collaborative environment, which will show healthy gains & attain new heights in the future.