India Ready to Eat Food Market

Introduction of the India Ready to Eat Food Market Report

Ready-to-eat food refers to the food products that do not require further cooking or reheating before consumption. There is a wide range of ready-to-eat food products available in the market, which includes salads, cooked meats, desserts, sandwiches, smoked fish, cheese, and food which have been cooked in advance to serve cold. These food products have specific guidelines to ensure that there is minimum or no contamination or the possibility of bacteria formation after the food product has been already prepared.

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Market Dynamic

Key Drivers and Emerging Trends

India ready to eat food market is witnessing an increase in demand during the forecast period. This is mainly due to the changing consumer lifestyle and rapid urbanization. The continuous improvement in the consumer’s lifestyle, followed by the high disposable income of the individuals, is encouraging them to opt for ready to eat food products instead of preparing their meals at home. In recent years, the ready to eat food products covers the largest segment in the overall conventional and non-conventional food sector.

The constant innovation in functional ingredients, convenience, and organic food products are creating new opportunities for the market in the coming years. The ready to eat food products are highly convenient and helps in saving the time and efforts needed to prepare a meal. This factor has surged the demand for ready to eat food products, particularly among the working population and students around the world. Moreover, the hectic work schedule of people has motivated to shift towards the adoption of ready-to-eat food products and meals.

Impact of COVID-19 on the Ready to Eat Food Market

The widespread outbreak of the coronavirus has positively impacted the growing demand of the market, especially since 2020. The market experienced huge growth in demand, particularly in the first six months of 2020 when every country around the world had a country level lockdown. This factor, along with the increasing fear of catching COVID-19 among people, has encouraged them to opt for ready to eat food products in order to avoid visiting the market for weekly grocery shopping.

Restraints in the India Ready to Eat Food Market

One of the biggest factors that is likely to hinder the growth of the market is the lack of effective product distribution systems in the country. Moreover, the elderly population of India has a negative perspective regarding the nutritional value offered by packaged ready to eat food products. This type of mind-set and the rising health concerns among Indian consumers will further hamper the growing demand of the market.

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Product Type – Segment Analysis

Based on the Product Type, the Meat products segment is anticipated to grow at a higher CAGR during the forecast period. The increasing development of basic infrastructure in numerous developing economies and the easy availability of storage space and economical prices are the two major factors that are contributing to the growth of the segment in the market. In addition to this, the introduction of innovative ideas to present the meat and poultry-based products with a coating of vegetables and cereal-based products with an aim to add more nutrition will further attract more consumers towards the market.

Distribution Channel – Segment Analysis

On the basis of the distribution channel, the hypermarkets/ supermarkets segment is projected to dominate the market during the forecast period. This is attributed to the presence of a wide range of branded ready to eat food products at an affordable price range. Moreover, the easy to reach location of these stores is further surging the demand of the segment in the market. On the other hand, the online retailers segment is expected to grow at a faster CAGR during the forecast period. The accelerating penetration of smartphones driven by the increasing use of the internet is a major factor that is responsible for the growth of the segment in the market. In addition, the internet service provider is reducing their product prices, which is attracting more consumers to opt for online shopping options rather than physically visiting the stores.

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Segments covered in the Report:

The India Ready to Eat Food market has been segmented on the basis of Product Type, Distribution Channel. Based on Product Type, the market is segmented into instant breakfast/cereals, instant soups & snacks, ready meals, baked goods, meat products, and others. Based on Distribution Channel, the market is segmented into hypermarkets/supermarket, convenience stores, food specialty stores, departmental stores, online retailers, and others. 

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Key questions answered in this research report:

• • At what pace is India Ready to Eat Food market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in India Ready to Eat Food market? What will be the impact of drivers and restraints in the future?
  • Which Product Type generated maximum revenues in 2019 and identify the most promising Product Type during the forecast period?
  • What are the various Distribution Channels of India Ready to Eat Food market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

India Ready to Eat Food Market by Product Type

• • Instant Breakfast/Cereals
  • Instant Soups & Snacks
  • Ready Meals
  • Baked Goods
  • Meat Products
  • Others

India Ready to Eat Food Market by Distribution Channel

• • Hypermarkets / Supermarkets
  • Convenience Stores
  • Food Specialty Stores
  • Departmental Stores
  • Online Retailers
  • Others