India Ready-To-Eat Food Market Competition Forecast & Opportunities, 2028

The India Ready-To-Eat Food Market is poised to exhibit an impressive Compound Annual Growth Rate (CAGR) during the forecast period

The India Ready-To-Eat Food Market is poised to exhibit an impressive Compound Annual Growth Rate (CAGR) during the forecast period. The surge in demand for convenient food choices among the working populace, the expansion of the Indian retail chain sector, and continuous product innovations stand as pivotal drivers of growth for the ready-to-eat food market. However, challenges related to mounting obesity and diabetes concerns could potentially hinder market expansion, as health-conscious consumers are apprehensive about the high-fat content commonly found in such foods.

The escalating demand for ready-to-eat food is notably attributed to India's bustling working population, often grappling with busy schedules and limited time and resources for home-cooked meals. As an illustration, in 2020, India boasted over 900 million individuals falling within the working age bracket (15-64), accounting for 67% of the nation's total population. Projections indicate an additional influx of 100 million into this demographic by 2030. According to the Confederation of Indian Industry (CII) analysis, this projection implies that India will contribute a staggering 24.3% to the global workforce expansion over the ensuing decade.

Market Growth Driven by Demand for Sustainable Packaging

In addition to catering to diverse product preferences and portion sizes, the demand for sustainable packaging significantly drives market growth. This inclination towards environmentally friendly packaging stems from growing consumer awareness and concern for the environment. Packaging that isn't recyclable, reusable, or compostable may lead consumers to opt for brands that prioritize ecological responsibility. While businesses delve into sustainable packaging, they must ensure that the fundamental purpose of ready-to-eat packaging - preserving meal quality and flavor until consumption - is upheld. Maintaining cost efficiency while incorporating these dynamic packaging features remains a key challenge.

Product Innovation as a Catalyst for Market Expansion

In the present era, consumers exhibit an openness to culinary experimentation, seeking novel food experiences. Modern generations emphasize food quality and are willing to invest slightly more for premium quality without compromising health. Driven by these factors, Indian food producers continually innovate, propelling significant expansion in the ready-to-eat food sector. For instance, brands like Innovative Foods, owning Sumeru, introduce innovative offerings like Lasagne Paratha. Safal broadens its frozen product portfolio with items such as Frozen Okra Cut, Frozen Drumstick, and Frozen Haldi Paste Cubes. Recognizing gaps in the market, BigBasket enters with frozen pizza and peas under its private label Fresho.

Rising Number of Food Delivery Applications Boosts Market

The hectic lifestyle of many Indians has propelled the adoption of ready-to-eat foods through smartphone apps such as Swiggy, Foodpanda, and Zomato. These platforms cater to the growing demand for convenient meals. The surge in smartphone usage, coupled with affordable internet options, has expanded the consumer base for online meal delivery in India. As major players extend their reach beyond metropolitan areas to smaller towns and cities, the industry's growth is further amplified.

Thriving Startup Ecosystem Driving Market Expansion

Renowned brands like MTR, McCain, Bikanervala, ITC, and Nestlé enjoy widespread consumer acceptance, opening avenues for startups to enter the market. India's burgeoning startup landscape is rife with innovation, driving the creation of new products for consumers. Suzu Agro's Aaj Pakao brand offers vacuum-sealed bags of Six Beans and Seven Curries, along with dishes like Pav Bhaji, Mangalorean Ghee Roast, Goan Xacuti Gravy, Dal Makhni, Missal, and Chettinad Gravy.

In conclusion, the India Ready-To-Eat Food Market is poised for substantial growth driven by factors like convenience-seeking consumers, sustainable packaging demands, product innovation, surging food delivery apps, and a flourishing startup ecosystem.

Market Segmentation

India's Ready-To-Eat Food market is segmented on the basis of product type, distribution channel, and end user. In terms of product type, the market is fragmented into ready-to-heat and ready-to-cook. In terms of distribution channels, the market is further segmented into convenient stores, traditional sales, departmental stores, wholesalers, online, and others (distributor sales, direct sales, etc.). Based on end user, the market is further split into residential, food service, and distributor.

Market Players

Bikanervala Foods Private Limited, Gits Food Products Pvt. Ltd, Mccain Foods India Private Limited, Haldiram Foods International Pvt. Ltd, MTR Foods Pvt. Ltd., ITC Limited, Godrej Agrovet Limited, Tata Consumer Products Limited, Venkys (India) Limited, and Nestlé India Limited are the major market players in India's Ready-To-Eat Food market.

Report Scope

In this report, India ready-to-eat food market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

India Ready-To-Eat Food Market, by Product Type:

• Ready-To-Heat
• Ready-To-Cook

India Ready-To-Eat Food Market, by Distribution Channel:

• Convenience Stores
• Traditional Sales
• Departmental Stores
• Wholesaler
• Online
• Others

India Ready-To-Eat Food Market, by End User:

• Residential
• Food Service
• Institutional

India Ready-To-Eat Food Market, by Region:

• North
• West
• South
• East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India ready-to-eat food market.

Available Customizations

The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.