Project Background:
India is the second largest producer of fruits and vegetables in the world after China. It accounts for about 15 per cent of the world’s production of vegetables. India contributes approximately 10% of the world fruit and vegetable production. It stands at 1,300 million MT. Considering the life style changes as well as the increase in the dual income households around the world, the need and demand for frozen fruits and frozen vegetables as well as frozen prepared foods is steadily increasing. The global frozen food market currently stands at US $300 billion, growing at a CAGR of 4%.
Raw Materials:
- Fruits – Strawberry, Blueberry, Raspberry, Custard Apple, Chikoo (Sapota), etc.
- Vegetables – Peas, Carrot, Corn, Cauliflower, French Bean, etc.
- Prepared foods – Naan, Parathas, Spring Rolls, Momos (Dimsums), Samosas, etc.
Plant Specifications:
- Plant capacity: 1 MT per hour to 10 MT per hour
- Hours operational – 20 hours
- Approximate area – 2 acres
- Approximate project cost – Rs. 20-25 crores
Market Share:
The production of IQF frozen fruits and vegetables in India currently stands at 200,000 MT, growing at a CAGR of 12.5%. There are approximately 75 major IQF processing plants currently in India.
Nowadays Indian products are widely accepted throughout the world for commercial as well as household consumption. Currently, more than 50 countries import processed fruit and vegetable products from India. Of late large numbers of Indian have migrated to various countries and higher numbers of Indian visit other countries. Therefore, the demand for Indian food products is on the rise in many countries. New entrants may initially join hands with existing merchant exporters to get entry into such markets. Thereafter, vast export potential for such products can be tapped slowly.