Future Industry Insights (FMI) offers important insights on the India Ready to Mix Food market in its most recent analysis, “Ready to Mix Food Market – India Industry Analysis and Opportunity Assessment, 2014 – 2020.” The study has a strong emphasis on developing trends. According to FMI, the India Ready to Mix Food Market would be worth US$284.4 Mn by 2020 and expand at a CAGR of 15.7%.
Convenience for consumers is the primary factor driving the market for ready-to-mix foods in India. Other reasons propelling the market’s increase include a rise in the proportion of working women as a result of increasing educational standards, high household discretionary money, and expanding organized retailing in India. Additionally, during the next five years, it is projected that the penetration of private label products and a rise in overall disposable income would support the growth of the Indian ready-to-mix food market. Important ready-to-mix food manufacturers are focusing on diversifying their product lines to compete in the fiercely competitive market and meet growing consumer demand.
The ready-to-mix food market in India is divided into application and distribution segments. Based on the type of product, the ready-to-mix food industry in India is split into three categories: curry mix, dessert mix, and snack mix. By 2020, it is predicted that the snacks mix category would account for around 50.9 percent of the market due to consumer demand. The sub-segment for curry mix, on the other hand, is projected to register a double-digit CAGR of around 15.8% during the forecast period.
Depending on the channel of distribution, the ready-to-mix food market in India is segmented into stores, Kirana shops, online purchases, and other categories. In terms of market share contribution to the overall ready-to-mix market, the retailers sub-segment is predicted to have the highest CAGR of 16.2 percent over the forecast period, followed by online purchases.
Depending on the channel of distribution, the ready-to-mix food market in India is segmented into stores, Kirana shops, online purchases, and other categories. In terms of market share contribution to the overall ready-to-mix market, the retailers sub-segment is predicted to have the highest CAGR of 16.2 percent over the forecast period, followed by online purchases.
Why Indian ready-to-mix dishes would fast become popular in the convenience food industry is explained by FMI’s principal analyst. She anticipated that the ready-to-mix industry in India would be driven by a fast-paced lifestyle, increasing packaged food consumption, and rising disposable income during the next five to six years.
The main factors anticipated to propel the growth of India’s ready-to-mix food market shortly are the adoption of new technology for improved cooking performance of the items and an increase in exhibitions, seminars, and workshops to advertise it. However, it is anticipated that limited distribution channels, price-sensitive customers, and low consumer awareness levels will impede market expansion.
MTR Foods Pvt. Ltd. has created a new line of snack varieties such as salty banana chips, pepper banana chips, spicy banana chips, and Huli Thengols for consumers who are constantly looking for diversity in authentic snacks (snacks made of yogurt). Other prominent participants in the Indian market for ready-to-mix foods include ITC Ltd., Gits Food Products Pvt. Ltd., Kohinoor Foods Ltd., Ushodaya Enterprises Private Ltd., and BambinoAgro Industries Ltd.
Key Segments Covered in India Ready-to-mix Food Market Report:
Based on application, the Indian ready-to-mix food market has been segmented into:
- Snack Mix
- Desert Mix
- Curry Making Enablers
Based on distribution channel, the Indian ready-to-mix food market has been segmented into:
- Modern Trade
- Kirana Shops
- Online Retailers
- Other Distribution Channels
