Ready to Eat Food Market in India by Product and Distribution Channel - Forecast and Analysis 2023-2027

Ready to Eat Food Market  Forecast 2023-2027

The India ready-to-eat food (RTE) market size is estimated to grow at a CAGR of 20.64% between 2022 and 2027. The size of the market is forecast to increase by USD 1,064.32 million. In 2017 the size of the market was valued at USD 263.4 million.

This ready to eat food market analysis in India report extensively covers market segmentation by Product (frozen food, ready-to-heat, and ready-to-cook) and Distribution Channel (offline and online). It also includes an in-depth analysis of drivers, trends, and challenges. 

The demand for ready-to-eat (RTE) products is on the rise due to the increasing need for convenient food options. This trend is expected to continue in India. RTE products are favored for their short cooking time, easy preparation, and long shelf life, making them highly desirable in the market. The growing working population in India has further fueled the demand for convenient foods that can be quickly prepared, such as instant soups. With a higher percentage of the global population being of working age, the popularity of RTE products among this segment is evident. Many vendors are capitalizing on this trend by introducing pre-cooked or ready-to-cook options to meet the growing demand. As a result, the consumption of RTE products is expected to increase, driving market growth during the forecast period.

Ready to Eat Food Market in India Market: Overview

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Key Trend and Challenge

Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.

Trends 

Growing popularity of private-label frozen food is the primary trend in the India RTE food market. Private-label frozen products are becoming an important area for retailers. Some retailers promote their own brands by offering more shelf space for their products compared to branded products. For instance, in 2019, the sales of private-label frozen foods increased by 3.8% compared to the previous year. Consumers are more inclined toward private brands to save money without any compromise on taste, selection, or quality.  Retailers also offer in-store promotions for their own brand frozen products.

Online retailers such as Amazon have also been rolling out private-label frozen food products, while consumer value stores (CVS) are expanding their frozen food section by adding private-label frozen food products to grow their grocery businesses. Some private-label brands are also launching their frozen food products in paper-based trays to reduce the use of plastic packaging and attract consumers by projecting their environmental awareness initiatives. Therefore, increased demand for frozen food will positively impact the RTE food market in India during the forecast period.

Challenge 

Growing health concerns about diabetes and obesity are a major challenge to the growth of the India RTE food market. Obesity is on the rise in India. This increase in obesity rates is directly related to the use of certain ingredients in commonly consumed foods. For instance, the excessive consumption of sugar can lead to obesity and diabetes. The majority of consumers refrain from consuming RTE products, such as frozen and packaged foods, to avoid consuming trans fats. Avoid consuming products that are made from cakes that can cause allergic reactions. Replacing them with non-allergenic ingredients is a challenge for manufacturers.

The removal of trans fats from RTE products poses a considerable challenge for RTE food manufacturers Alternatives to trans fats affect product attributes, including taste, texture, shelf life, and product stability. Cookies contain a high amount of unhealthy fats. As RTE products are mostly high in fat, their overconsumption may lead to obesity, overweight conditions, and other health issues. Hence, they are not preferred by health-conscious consumers. Such factors may hamper the growth of the market during the forecast period.

Customer Landscape

The India ready to eat food market market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Ready to Eat Food Market in India Customer Landscape

 

Vendor Overview

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• Key Offering-Bikaner Express the company offers ready-to-eat food such as Navrattan Mix Vegetable, Shahi Rajma, and Pao Bhaji Curry. Also, the company operates as manufactures of authentic Indian delicacies.

The ready to eat food industry report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

• Bikaner Express
• Conagra Brands Inc.
• Curry Cullture LLP
• Dabur India Ltd.
• General Mills Inc.
• Gits Food Products Pvt. Ltd.
• Haldiram Foods International Pvt. Ltd
• Heritage Foods Ltd.
• ITC Ltd.
• Kohinoor Foods Ltd.
• Maples
• McCain Foods Ltd.
• Nestle SA
• Nomad Foods Ltd.
• Orkla ASA
• Pristine Organics Pvt. Ltd.
• Savola Group
• The Kraft Heinz Co.
• Tyson Foods Inc.
• Vadilal Industries Ltd.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Ready to Eat Food Market in India Segmentation by Distribution Channel

Supermarkets and hypermarkets have become the preferred distribution channels for RTE food products in India. The thriving retail industry and the proliferation of retail outlets have contributed to the segment's sales growth. These stores offer a wide selection of RTE products, providing consumers with the convenience of finding everything they need in one place. The presence of price comparisons on shelves further encourages consumers to purchase RTE products from supermarkets and hypermarkets. The launch of new stores by major retailers, such as Reliance Retail and Dmart, is expected to drive sales of RTE food products in the coming years.

Grocery and convenience stores are also popular due to their versatility, extensive product offerings, and extended operating hours. These stores allow consumers to compare different RTE brands before making a purchase decision. Additionally, they provide convenient facilities like virtual payment methods and on-premise ATMs, attracting a diverse consumer base. Offline distributors are also adopting service delivery innovations such as same-day delivery and promotional offers. As a result, the RTE food products segment is anticipated to experience a significant year-over-year growth rate during the forecast period.

Ready to Eat Food Market in India Segmentation by Product

The RTE food market in India is being driven by the increasing consumption of frozen food products. The frozen food segment was valued at USD 146.23 million in 2017 and continue to grow by 2021. Frozen food items encompass a diverse range, including fruits, vegetables, meat, poultry, and ready meals, which undergo rapid freezing and remain frozen until use. These products typically have a long shelf life of up to six months. The busy lifestyles and longer working hours of consumers have created a demand for convenient food options that require minimal preparation. Frozen food products fulfill this need, and with the growing female workforce, the market is further propelled. To meet the rising demand, vendors in the market are expanding their distribution capabilities in India. Notable players offering RTE frozen food products in India include Nestle SA, McCain Foods Ltd., and Conagra Brands Inc. The increasing popularity of frozen foods will drive the growth of the RTE food market in India during the forecast period.

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The market for ready-to-heat meals is experiencing significant growth due to the increasing demand from consumers with busy lifestyles and hectic work schedules. These pre-prepared meals are already cooked and only require heating before consumption, making them a convenient choice for individuals who have limited time for cooking. As a result, there is a noticeable shift in consumer preferences from home-cooked meals to ready-to-heat products. This change in behavior is expected to drive substantial market growth in the forecast period. Ready-to-heat meals are versatile options that can be consumed at any time of the day, making them a close alternative to regular homemade food. They are not only convenient but also cost-effective, as they require less preparation time and are available year-round. With the rising demand for convenient food options among working professionals and busy college students, the popularity of ready-to-heat meals is projected to propel market growth in the coming years.

Segment Overview

The ready to eat food market in India report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Product Outlook (USD Million, 2017 - 2027)
  • Frozen food
  • Ready-to-heat
  • Ready-to-cook
• Distribution Channel Outlook (USD Million, 2017 - 2027)
  • Offline
  • Online

Ready To Eat Food Market In India Scope
Report Coverage	Details
Page number	122
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 20.64%
Market growth 2023-2027	USD 1064.32 million
Market structure	USD Fragmented
YoY growth 2022-2023(%)	17.78
Regional analysis	India
Performing market contribution	India at 100%
Key countries	India
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Bikaner Express, Conagra Brands Inc., Curry Cullture LLP, Dabur India Ltd., General Mills Inc., Gits Food Products Pvt. Ltd., Haldiram Foods International Pvt. Ltd, Heritage Foods Ltd., ITC Ltd., Kohinoor Foods Ltd., Maples, McCain Foods Ltd., Nestle SA, Nomad Foods Ltd., Orkla ASA, Pristine Organics Pvt. Ltd., Savola Group, The Kraft Heinz Co., Tyson Foods Inc., and Vadilal Industries Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Ready To Eat Food Market In India In Country Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the size of the ready to eat food market in India size and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market industry across India
• Thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of ready to eat food market in India vendors

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