by The ready to mix food market in India has witnessed significant growth in recent times owing to changing consumer preferences and rising disposable incomes of middle-class consumers in metropolitan cities. Ready to mix food options provide an easy solution for consumers with busy lifestyles to prepare meals quickly. These products ranging from ready-to-mix batter for pancakes, dosa to pasta sauces, pizza bases and more help save preparation time for consumers. Advances in packaging technologies have also ensured longer shelf life for these foods allowing busy urban Indians to stock ready mixes at home for use as and when required.
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 25% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Growing urbanization and rapidly evolving lifestyles across Indian cities are major drivers propelling growth of the ready to mix food market. As more people migrate to urban centers for employment and prefer nuclear family structures, their reliance on convenience foods is increasing significantly. Ready to mix foods help save time on household chores which can instead be spent on professional or leisure activities. Further, the penetration of dual-income households has accelerated demand for frozen and ready to eat options that provide quick meal solutions. Rising disposable income levels especially among young working professionals have boosted their spending capacity on premium and exotic ready to cook products as well. Evolving preferences towards western cuisines and international flavors is another factor impelling food companies to introduce innovative variants regularly.
Segment Analysis
The India ready-to-mix food market is dominated by the breakfast and beverages sub-segment. This segment holds around 60% of the total market share currently. This is the largest segment as most of the breakfast items including idli, dosa, upma mix are available in the ready-to-mix format. This helps the busy Indians to easily cook breakfast items with minimal efforts.
PEST Analysis
Political: The Indian government supports the food processing industry by various policies and schemes. It aims to double the contribution of this sector to GDP and create millions of new jobs by 2023.
Economic: The rising disposable income, busy lifestyles and increasing women workforce are fueling the growth of the ready-to-mix food market in India. As people have lesser time to cook, they prefer easy-to-cook foods.
Social: Changing food habits, nuclear families and hectic schedules are increasing the demand for convenience foods. Ready mixes help save cooking time which can be utilized in other activities.
Technological: Manufacturers are using advanced techniques like freeze drying to increase the shelf life of ready mixes. Packaging innovations with proper moisture barriers are also extending the product lifespan.
Key Takeaways
The global India Ready To Mix Food Market Demand is expected to witness high growth over the forecast period. The global Indian 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 25% over the forecast period 2023 to 2030.
North India is projected to be the fastest growing regional market. States like Delhi, Uttar Pradesh, Haryana have witnessed increased consumption of convenient and time-saving food options. The availability of international cuisine mixes along with traditional favorites is driving the sales in this region.
Key players operating in the India ready-to-mix food market are MTR Foods, McCain Foods (India) Pvt. Ltd., ITC Foods, Gits Food Products Pvt. Ltd., Kohinoor Foods, Nestle, Haldiram’s and Adani Wilmar. Ready mixes for idli, dosa, paneer makhani, pizza, pasta etc. are offered by these leading brands. With growing health-consciousness, many players have also launched low-calorie, organic and natural variants.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
