by The ready to mix food market in India is a multibillion-dollar industry that involves preparation of food mixes by blending various ingredients that only require addition of water or other liquid to transform into a finished dish. Ready to mix foods include products such as bread mixes, pasta mixes, pancake mixes, and curry mixes. The convenience of preparing meals with minimum effort has made ready to mix foods increasingly popular among time-strapped urban households and young working professionals.
The global India ready to mix food market is estimated to be valued at US$ 443.89 Mn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Rising health consciousness: Rising awareness about health and nutrition among Indian consumers is expected to drive the demand for ready to mix foods. These mixes allow consumers to prepare meals using fresh ingredients and adjust fat, salt, and sugar levels as per their nutritional requirements. This factor is expected to fuel the market growth over the forecast period.
Increasing urbanization: Rapid urbanization and busy lifestyle in Indian cities have increased the demand for convenient food options. Ready to mix foods require minimum preparation time, which appeals to urban households and young working professionals with limited time availability. This is anticipated to promote the adoption of ready to mix foods in India over the coming years.
Segment Analysis
The India Ready to Mix Food Market is dominated by the ready to cook/semi cooked segment which holds around 45% share. This is because these products only require minimal preparation like boiling or cooking and are becoming increasingly popular among the busy urban population who are opting for convenience foods. The baked segment is another fast growing segment owing to the rising popularity of ready to bake products like breads, buns and pastries among health conscious consumers.
PEST Analysis
Political: The government’s focus on food processing industry and initiatives like Operation Greens aims to boost production of ready to eat foods. It offers subsidies and funding to encourage establishment of food processing units.
Economic: Rising disposable incomes, urbanization and dual income households have fuelled the demand for convenient ready meals. The working population prefers time saving options offered by ready mixes.
Social: Changing lifestyles and food habits are a major factor driving the market. Nuclear families and working women have less time for cooking leading to increased uptake of ready mixes. Additionally, exposure to western culture has boosted experimentation with new cuisines.
Technological: Advances in food technology and packaging have enabled development of products with longer shelf life without preservatives. Companies offer variety through innovations in flavors, recipes, formats etc to tap the evolving tastes.
Key Takeaways
The Global India Ready To Mix Food Market Size is expected to witness high growth over the forecast period due to rising preference for convenience foods among urban population. The market size for 2023 is estimated to be US$ 443.89 Mn.
Regional analysis:
The southern region accounts for the major share currently owing to large availability of ingredients and rapid urbanization. States like Kerala, Karnataka and Tamil Nadu are emerging as fastest growing markets in the country.
Key players:
Key players operating in the India Ready to Mix Food Market include Indian Tobacco Company, Mavalli Tiffin Room, Gits Food Products Pvt. Ltd., Kohinoor Foods, Priya Foods. These companies offer variety through constant innovations and acquisition of regional brands to strengthen their foothold.
Indian Tobacco Company holds leading position with its popular offering of kits for Idli, Dosa etc. Mavalli Tiffin Room and Gits Food Products have wide portfolio of traditional South Indian mixes while Kohinoor Foods and Priya Foods cater to a diverse array of global cuisine mixes.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
