Delhi: A CII-AC Nielsen ORG-MARG report says changing
tastes and lifestyles are leading to increased demand
for packaged and branded food in India. Due to this,
India is seen emerging as a major world market for retail
sales of foods said the report released Sunday.
report titled, 'Foods and Beverages - Challenges and
Opportunities in the Indian Market', says foods sales
have contributed a staggering 72 percent to incremental
FMCG (fast moving consumer goods) value in 2004 as compared
to 2000. Packaged basics like cooking oils, atta, rice
and ghee have contributed an incremental value- indicating
an overall upswing in the commodity - to branding movement."
report says that the most significant change in the
marketing environment in recent years has been the advent
of modern format stores (MFS) which though accounting
for only three percent of FMCG sales, have been increasing
at a compound annual growth rate (CARG) of 15 percent
in the last five years.
number of traditional retail stores is also growing
rapidly, and the trend is likely to continue for the
next three years. By 2007, the
number of stores is likely to be 7.8 million with bulk
of the growth coming from grocers and street corner