India ready-to-eat food market stood at $ 261 million in 2017 and is projected to grow at a CAGR of over 16% during 2018-2023 to reach $ 647 million by 2023. Anticipated growth in the market can be attributed to rising urbanization, increasing disposable income of middle-class population and changing taste preferences of Indian consumers. Moreover, growing demand for quick food and presence of freshness and high nutritional value in these foods is further aiding growth of India ready-to-eat food market. Demand for ready-to-eat food products is recording high growth in metros where a lot of working people don’t get enough time to cook proper meals. Additionally, longer shelf life and easy availability of ready-to-eat food products is further pushing their demand across the country. The most popular ready-to-eat items include preparations of paneer, chana masala, rajma masala, pav bhaji, etc. Rise in demand for ready-to-eat food products has created the interest among many companies to enter this space which is likely to contribute to the growth of the market in the coming years. Furthermore, innovation in products offerings, sustainable packaging, preference of single serving frozen products, aggressive marketing & promotional strategies would steer growth in the market during forecast period.
Years considered for this report:
- Historical Years: 2013-2016
- Base Year: 2017
- Estimated Year: 2018
- Forecast Period: 2019–2023
Objective of the Study:
- To analyze and forecast market size of India ready-to-eat food market.
- To define, classify and forecast India ready-to-eat food market on the basis of segment (Frozen Ready-to-Eat Food and Shelf Stable Ready-to-Eat Food)
- To scrutinize the detailed market segmentation and forecast the market size by segmenting India ready-to-eat food market into four regions namely, North, West, East and South.
- To identify tailwinds and headwinds for India ready-to-eat food market.
- To get an idea about the consumers’ behavior towards Product Awareness, Most Preferred Brand, Preferred Category, Factors Influencing Purchase Decision, and Reason for Purchasing Ready-to-Eat Food.
- To strategically profile the leading players, which are involved in the supply of ready-to-eat food in India.
Some of the major players operating in the India ready-to-eat food market are McCain Foods India Pvt. Ltd., MTR Foods Pvt Limited, Gits Food Products Pvt Ltd., Haldiram Snacks Pvt. Ltd., ITC Limited, Bikanervala Foods Pvt. Ltd., Godrej Tyson Foods Limited, Darshan Foods Pvt. Ltd., Al Kabeer Exports Pvt. Ltd., Venky’s India Pvt. Ltd., etc.
TechSci Research performed primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of ready-to-eat food manufacturers and suppliers in India. Subsequently, we conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include manufacturers that could not be identified due to the limitations of secondary research. TechSci Research analyzed product offerings, end use sector/s, and regional presence of all major ready-to-eat food suppliers across the country.
TechSci Research calculated the market size for the India ready-to-eat food market using a bottom-up approach, wherein manufacturers’ value sales data for different types of ready-to-eat food (Frozen ready-to-eat and Shelf stable ready-to-eat) was recorded and subsequently forecast for the future years was made. TechSci Research sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company annual reports, white papers, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- India ready-to-eat food manufacturers, suppliers, distributors and other stakeholders
- Associations, organizations, associations and alliances related to ready-to-eat food
- Government bodies such as regulating authorities and policy makers
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as ready-to-eat food manufacturers, distributors, dealers and policy makers to understand which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth of the market.
In this report, India ready-to-eat food market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, by Segment
o Frozen Ready-To-East
o Shelf Stable Ready-To-Eat
- Market, by Distribution Channel:
o Retail Sales
Tradition Retail Store/ General Store
o Institutional Sales
- Market, by Geography:
o North Region
o East Region
o West Region
o South Region
- Market, by State:
o Uttar Pradesh & Uttaranchal
o Andhra Pradesh & Telangana
Company Profiles: Detailed analysis of the major companies present in India Ready-To-Eat Food market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Channel Partner Analysis
- Detailed list of distributors and dealers across the country.
- Detailed analysis and profiling of additional market players (up to five).
- Detailed analysis of new products in the market and their driving forces in the market.