India Ready to Mix Food Market to Grow at a Surging Growth Rate...

India Ready to Mix Food Market to Grow at a Surging Growth Rate owing to Advancement in Automation and Processing

Posted 2024-02-09 06:21:51

The India ready to mix food market comprises food ingredients and mixes that are ready to prepare meals with minimal additional preparation steps. Ready to mix food products such as ready to cook idlis, dosas, pastas, noodles, pizzas, and deserts are gaining popularity in India owing to rapidly changing lifestyles and increasing number of working individuals and nuclear families. The on-the-go consumption trend and convenience of ready to mix food are the major factors driving their demand.

The global India ready to mix food market is estimated to be valued at US$ 511.37 Bn in 2024 and is expected to exhibit a CAGR of 25% over the forecast period from 2024 to 2030.

Key Takeaways
Key players operating in the India ready to mix food market are Kush Supply Co., J.L.Clark, KAYA Packaging, Impak Corporation, Pollen Gear, Maple Leaf Green World, Lexaria Bioscience, Cannaline Cannabis Packaging Solutions, Green Rush Packaging, Berry Global, Pacific Packaging, Sun Grown Packaging, Sana Packaging, SKS Bottle & Packaging, SWAGPLUG, HLP Klearfold, N2 Packaging Systems, Dymapak, and Pollen Gear

The key opportunities in the market include growing demand for gluten-free and vegan ready mix options, and focus towards natural ingredients and clean labels. Innovation in packaging and product categories also offers lucrative opportunities.

Technological advancement such as automation in processing and packaging has enabled faster production of ready to mix foods. Use of advanced machinery is helping increase productivity while reducing costs. Introduction of improved packaging solutions is enhancing product shelf life.

Market Drivers

The rapid urbanization coupled with increasing disposable income has significantly increased the demand for convenience food products in India. Rising number of working women and hectic schedules leave little time for cooking, thus driving the consumption of ready to mix foods. Furthermore, availability of These products through e-commerce platforms and retail chains has provided easy access and boosted their market penetration over the years. Improvement in cold chain logistics is enabling wider distribution across the country.

Current Challenges in India Ready to Mix Food Market
The India Ready To Mix Food Market faces several challenges primarily related to affordability, quality and preference for fresh food. Processed convenience food is still perceived as expensive by many consumers given the lower average incomes in the country. Ensuring consistently high standards of food safety and hygiene also remains a challenge for manufacturers. Storage and logistics cost is also high for ready to eat mixes due to India's varied climate and terrain. Changing consumer preferences for fresh, homemade meals also acts as a deterrent for Ready to Mix products. Brands must focus on education around product benefits and affordable pricing to drive wider acceptance.

SWOT Analysis
Strength: Wide variety of product offerings suited to regional tastes. Growing urbanization and busier lifestyles driving demand.

Weakness: Perceptions around high prices and lack of freshness. Limited rural penetration.

Opportunity: Younger population more aware about convenience foods. Government initiatives supporting agri-business and food processing.

Threats: Competition from fresh, homemade food. High dependency on raw material prices and monsoon.

Geographical Regions
The western and southern regions dominate India's ready to mix food market in terms value share due to high disposable incomes in cities like Mumbai, Delhi and Bangalore. Maharashtra accounts for over 25% market alone followed by Karnataka, Tamil Nadu and Gujarat. The growing middle class provides considerable opportunities.

Fastest Growing Regions
The northeastern states are emerging as fastest growing regions for ready to mix foods led by quicker adoption in urban centers and changing lifestyles. States like Assam, Meghalaya and Manipur have witnessed over 30% annual volume growth in recent years aided by government focus on infrastructure and industries creating demand for convenience meals. The trend is expected to strengthen further.