March 1, 2024

India Ready to Mix Food Market will grow at highest pace owing to changing consumer lifestyle

Ready to mix food products include breakfast cereals, soups, sauces, pasta & noodles, baby food, and bakery & savory products among others. These products offer consumers the benefit of saving time and effort spent on cooking while also meeting their daily nutritional requirements in a convenient format. The rising number of dual-income households along with evolving preferences towards convenience and customization are propelling the demand for ready to mix food in India. In addition, increasing health awareness and exposure to global cuisines have led Indian consumers to explore more food options.

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 2024 to 2030.

Key Takeaways
Key players operating in the India Ready To Mix Food Market are Nestle, ITC Foods, MTR Foods, HUL Foods, Patanjali, Veeba Foods, Kohinoor Foods. Consumers today are more health-conscious and prefer readymade options that contain no preservatives and colors. As such, key players are introducing organic, natural and traditionally prepared ready-to-eat food products.

Growing demand from urban working professionals and nuclear families is a key factor fueling market growth. With long working hours and hectic schedules, consumers prefer food options that can be easily prepared without much efforts. Ready to mix foods provide a perfect cooking solution in such scenarios.

Rapid innovations in food processing and packaging technology have enabled key players to offer a wide range of ready to eat products with improved shelf-life. Companies are focusing on gaining consumer trust by ensuring hygienic manufacturing practices and high nutritional value retention in products through innovative packaging solutions.

Market Trends
1. Rising popularity of regional and traditional Indian cuisine: Leading players are launching traditional Indian food mixes based on regional cuisines like idli, dosa, upma etc to cater to evolving ethnic food preferences.

2. Customization and cleaner labels: Companies are offering customizable blends and clean label products made with simple ingredients to attract health-conscious consumers.

Market Opportunities
1. Untapped rural markets: Smaller manufacturers have an opportunity to tap the growing demand from rural and semi-urban areas through affordable product portfolios.

2. Platform-based ordering: Ready mix food manufacturers can leverage online food delivery platforms to increase market reach and gain new customers through personalized offerings.

Impact of COVID-19 on India Ready to Mix Food Market:

The COVID-19 pandemic has significantly impacted the growth of India ready to mix food market. During the lockdown period, the demand for ready to eat food products saw a significant rise as people stayed indoors and avoided outside food. Companies witnessed a surge in demand for ready to mix food items such as flour mixes, food flavors, spices and baking mixes. However, the supply chain disruptions caused by lockdowns and social distancing measures resulted in shortage of raw materials and workforce. This adversely affected the production and distribution of ready to mix food products. Post lockdown, as the restrictions were lifted and economy started reopening, the market saw a revival in demand. Companies worked on strengthening their supply chain and logistics to meet the growing demand. They also increased their production capacity and streamlined distribution channels. Going forward, factors such as changing consumer food habits, nuclear families and increasing women workforce are expected to further propel the demand for ready to mix food products in India.

Key geographical regions for India Ready to Mix Food Market:

The India ready to mix food market is concentrated majorly in South and West India in terms of value. The states of Tamil Nadu, Kerala, Karnataka and Maharashtra account for the largest share of the market. Availability of raw materials, traditional cuisine and growing population are some key factors responsible for high market concentration in these regions. Another fast growing region for India ready to mix food market is East and North-East India, comprising states of West Bengal, Odisha, Assam etc. Changing lifestyles, increasing working population and evolving food tastes are driving the demand in these states. Exposure to global cuisine and popularity of comfort food is further augmenting market growth across the major cities in these regions.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it