Expanding Horizons of the Food and Beverage Industry

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Innovation is the key when it comes to addressing challenges in the F&B sector. “To cope with the rapidly changing consumer needs, shortened product life cycles, margin pressures, and rising technological advancements, companies have to constantly innovate and differentiate their products from others. Innovation led new product development plays an important role and acts as a growth driver for industry.

Another major driver for the industry is advancement in distribution channels such as online sales, separate counters for females, outlets in airports, etc. Growing tourism sector is also playing a significant role in driving the alcoholic beverage industry,” asserted Dr Maitin.

A Look at Current and Future Prospects of the Indian F&B Sector

Stressing on the importance to give consumers the choice between flavors and textures Gupta added, “Currently, we have a suite of ‘Made in India and Made for India’ products—Thums Up, Limca, Maaza, Minute Maid Nimbu Fresh, Maaza Milky Delite and also our global brands like Coca-Cola, Sprite, Fanta, Minute Maid range of juices, etc. We also just launched Coca-Cola Zero in India in order to offer more choice to the consumer and cater to their evolving taste preferences.”

Arise in the Midst of Challenges

Increasing opportunities for the food and beverage sector

Agreeing with Gupta, CEO, Gourmet Gelato Company Pvt Ltd, Nirav Momaya voiced, “The customer is now more aware about global cuisines and we are gradually moving to global world. Commenting specifically to frozen desserts, for comp-anies like us we need to continue to keep up with the trends. The flavor of our product range from the regular chocolate, vanilla and strawberry to unique and unusual ones such as blueberry, raspberry, kiwi, cheesecake, yogurt and also have global themes such as Tiramisu, Red Velvet, Salted Caramel, Indian theme—Royal Kulfi, Kesar Pista Latte, Gulkand Cashew, and roasted almond. This is owing to the changing minds of the consumer.”

Packaged Food Industry to Gain Momentum

The Indian packaged beverage industry is very dynamic and evolving at a rapid pace. There is a huge growth opportunity in the packaged beverage segment in India, but the commonly quoted challenges are lack of infrastructure, irregular electricity, highly dispersed retail trade and logistical hurdles.

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