by Ready to mix food refers to food ingredients that can be easily mixed with minimal or no cooking at all. The ready to mix food segment in India has witnessed tremendous growth in the last few years due to changing lifestyles and fast-paced urbanization. Ready to mix food products like bread mixes, pancake mixes, cake mixes save time and labor required for multi-step cooking and baking.
The global Ready to Mix Food Market in India 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 key trends:
Changing Lifestyles: One of the major trends driving the growth of the ready to mix food market in India is changing lifestyles and consumption habits of people. With increasing dual income households, nuclear families, long work hours and hectic schedules, ready-to-cook and ready-to-mix food options are gaining popularity as they help save time in the kitchen. The trend of consuming readymade and packaged foods is escalating in India as people prefer to spend more time engaging in leisure activities rather than cooking. This has propelled the demand for ready to mix foods over conventional cooking methods in the country.
SWOT Analysis
Strength: Indian quick to-read nourishment’s low capital necessities, low maintenance costs and versatility, empowering entrepreneurs to enter the market effectively. The quickly developing Indian urban population has influenced the interest for prepared to-eat alternatives.
Weakness: Absence of appropriate innovation, restricted scope of items, low recognition in provincial pieces of the nation, confined accessibility, and high evaluating contrasted and customary cooked choices. The deficiency of solid upkeep during transportation and capacity can compromise wellbeing benchmarks.
Opportunity: Rising work pressure, twofold wage families, nuance for solid choices, and changes in way of life examples have opened opportunities for development. The advancement of convenient bundling and the interest for prepared to-eat choices work on-the-go increment prospects.
Threats: Stringent wellbeing guidelines, value instability of crude materials, and the presence of settled rivals make difficulties. Customary cooked nourishments stay highly favored, particularly in rustic regions. The danger of new contestants entering the space with cutting edge innovations.
Key Takeaways
The Global India Ready To Mix Food Market Size is expected to witness high growth over the forecast period owing to rapid urbanization, changing lifestyles, and rising disposable incomes. The market in the country is estimated to reach US$ 443.89 Million by 2024 growing at a CAGR of around 25% during 2023-2030.
Regional analysis: The north and west regions dominate India’s ready to mix food market with the maximum consumption. States like Maharashtra, Gujarat, Delhi, Karnataka are the fastest growing markets. The lifestyle changes and international food influences have contributed to the regional growth momentum.
Key players: MTR Foods, McCain Foods (India), ITC Limited, Kohinoor Foods, Pristine Organics Pvt Ltd, Namdhari’s Farm Fresh, Saffola, Fonterra Future Dairy, and Nestle India are some of the leading players operating in the Indian ready to mix food market. The key players are focusing on expanding their product portfolio through constant innovation and adopting new technologies. Partnerships with food service operators and cloud kitchens have also boosted their market presence.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
