Organic food segment to grow at a CAGR of 10% during 2016-20
New Delhi/IBNS: India's organic food segment is expected to grow at a CAGR of 10% during the period 2016-21, according to the Ministry of Food Processing Industries.
Increasing disposable incomes, increasing awareness around health and wellness and increasing acceptability are contributing to the growth in demand for organic produce.
India produced around 1.70 million MT (2017-18) of certified organic products which includes all varieties of food products namely Oil Seeds, Sugar cane, Cereals & Millets, Cotton, Pulses, Medicinal Plants, Tea, Fruits, Spices, Dry Fruits, Vegetables, Coffee etc.
At the same time the demand for Indian organic food products is on constant increase worldwide with India exporting organic products worth $ 515 million in 2017-18 with organic products being exported to USA, European Union, Canada, Switzerland, Australia, Israel, South Korea, Vietnam, New Zealand, Japan etc.
The major demands under the organic product category are for oil seeds, cereals & millets, sugar, fruit juice concentrates, tea, spices, pulses, dry fruits, medicinal plant products etc.
As per the Indian Organic Sector – Vision 2025 report, India’s organic business has immense potential to reach the INR 75,000 crore mark by 2025 from INR 2,700 crore (in 2015).
With an aim to empower women and promote organic produce, Ministry of Food Processing Industries (MoFPI) is organising a National Organic Festival with a special focus on women entrepreneurs, said Union Minister for Food Processing Industries(FPI) Harsimrat Kaur Badal.
Announcing the 3-day long Food festival, during a press meet in New Delhi today, FPI Minister shared that more than 150 women entrepreneurs and Self Help groups (SHG’s) from all over the country will be exhibiting their organic products in various segments such as fruit & vegetables, ready to eat Products, Spices and condiments, Honey, cereals, dry fruits etc..
The festival will be organised from February 21-23, 2020 at Jawaharlal Nehru Stadium, New Delhi.
Entrepreneurs and SHGs from 24 states are participating in the festival.
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