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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Ready to mix food are classified as conveniences and healthy food. These foods are easy to prepare and consume less time for cooking as they are already half processed. Ready to mix food is used in a variety of applications such as desert mix, snack mix, and curry making enablers. They are relatively cheaper and gaining huge demand as it takes less time to prepare.

The India Ready to Mix Food Market is projected to surpass US$ 915.18 million by the end of 2028, in terms of revenue, growing at CAGR of 16% during the forecast period (2021 to 2028).

Drivers

The rise in the overall disposable income of households of the Indian population is propelling the market growth of the ready to mix food. According to Trading Economics, disposable Personal Income in India increased to 206752290 INR Million in 2019 from 192817450 INR Million in 2018. Moreover, improving standard of living and changing consumer eating habits is again augmenting the demand for convenience food products, this in turn is accelerating the market growth of India ready to mix food.

Expanding modern retail formats in India is escalating the market growth of the ready to mix food. According to the India Brand Equity Foundation, the Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the penetration of several new players. The retail industry reached US$ 950 billion in 2018 at a CAGR of 13 percent and is projected to reach US$ 1.1 trillion by 2020. Online retail sales were forecast to grow 31 percent year-to-year to reach US$ 32.70 billion in 2018.

Market Restraints

High packaging costs owing to the growing demand for packaged food is expected to hinder the market growth of India ready to mix food. The high packaging cost is increasing the overall price of the packaged food products this is in turn hampering the product demand.

Poor supply chain and distribution channel in India is projected to create a gap in demand and supply. This in turn is hampering the market growth of India ready to mix food in the near future.

Market Opportunities

Increasing adoption of new technology for removing oil from food after frying and increase shelf-life of food is expected to create lucrative growth opportunities. For instance, the FMC Corporation developed a new sausage-casing technology that delivers better shelf life and enables better cooking properties. Continuous development of the innovative technology for preparing processed and convenience food products is projected to escalate the market growth of India ready to mix food.

The growing export of food and agriculture products from India is expected to provide immense market opportunities in the near future. According to the India Brand Equity Foundation, in 2019, the export of agricultural and processed food products totaled US$ 38.49 billion. In February 2020, India exported basmati rice worth US$ 3.88 billion, buffalo meat worth US$ 3.01 billion, non-basmati rice worth US$ 1.84 billion, and other processed foods worth US$ 2.71 billion.

Figure 1. India Ready to Mix Food Market – Opportunity Analysis

India Ready to Mix Food  | Coherent Market Insights

Market Trends

  • Growing desire for more variety and choice among younger people as they account for a majority of the population in India is driving the market growth. This group of people are health conscious and wish to make informed choices in food, based on ingredients present in the food products. Moreover, the growing influence of TV, social media, and advertising as these help the consumer to make an informed decision is again driving demand for more variety and choice of ready to mix food among young consumers.
  • The increasing trend of private label concept in India is expected to foster market growth. The various manufacturer has started launching their own private label brands for ready-to-mix food as these allow enhance control over the supply chain. Also, consumers have started liking private labels due to growing food safety standards and better quality food products.
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India Ready to Mix Food Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2020: US$ 284.38 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 16% 2028 Value Projection: US$  915.18 Mn
Geographies covered:
  • India
Segments covered:
  • By Application: Snack Mix, Desert Mix, and Curry Making Enablers
  • By Distribution Channel: Retailers, Kirana Shops, Online Purchase, and Others 
Companies covered:

Indian Tobacco Company, Mavalli Tiffin Room, Gits Food Products Pvt. Ltd., Kohinoor Foods, Priya Foods, and Bambino Agro-Industry

Growth Drivers:
  • Rise in overall disposable income of households of the Indian population
  • Expanding modern retail formats in India
Restraints & Challenges:
  • High packaging costs
  • Poor supply chain and distribution channel

Figure 2. India Ready to Mix Food Market, Revenue Share (%), By Distribution Channel, in 2020

India Ready to Mix Food  | Coherent Market Insights

Key Takeaways of the Graph:

  • The Retailers held dominant position in the market and accounted for 49.4% share in the India Ready to Mix Food Market in 2020. The segment is expected to reach US$ 466.68 million in 2028.
  • The rise in the overall disposable income of households of the Indian population is propelling the market growth of the ready to mix food.

India Ready to Mix Food Market - Impact of Coronavirus (Covid-19) Pandemic

During the coronavirus epidemic, ready-to-eat food products became one of the few businesses that saw a massive increase in demand. With most individuals working from home and countries under lockdown, ready-to-cook meal products have been flying off the shelves in recent months. Young people spend the majority of their money on handy ready-to-eat foods. For ready-to-eat food manufacturing key players, young consumers are the easiest targets. The ease of use of such items contributes to an increase in overall market demand around the world. Consumers are cooking at home more due to restaurants restricting services to takeout and the concern of a rising number of Coronavirus cases, resulting in an increase in the use of ready-to-eat products. Several companies in the ready-to-eat sector have indicated that demand for their products such as curries/meals, batters, instant mixes, desserts, and frozen snacks has increased during Covid-19 epidemic.

Competitive Section

Major players operating in India ready to mix food market include, Indian Tobacco Company, Mavalli Tiffin Room, Gits Food Products Pvt. Ltd., Kohinoor Foods, Priya Foods, and Bambino Agro-Industry.

Few Recent Developments

  • In September 2021, Bambino Agro Industries Limited has planned to purchase a pasta mill from Italy with a capacity of 2000 kg/hr in order to build up a manufacturing facility in Gohana, Sonipat, Haryana, with a total capex of roughly Rs.24.00 cr.
  • In January 2021, at the 20th ICSI National Awards for Excellence in Corporate Governance, Indian Tobacco Company Limited was named 'Best Governed Company' in the Listed Segment: Large Categorization
  • In April 2020, Indian Tobacco Company Limited has been ranked No. 1 globally among peers and No. 3 overall on ESG performance in the Food Products industry by Sustainalytics a global ESG rating company, in recognition of its superior Environmental, Social, and Governance models.

A detailed analysis of trends, forecasts, and economic value of India ready to mix food market is provided in the report. According to Coherent Market Insights, India ready to mix food market is expected to witness a CAGR of 16% during the forecast period. The growth is attributed to increasing preference for ready to mix food products. There is shift in the consumption pattern among the young consumers and older consumers. The young and old consumers alike prefer food products that are ready to eat and ready to mix

Market Dynamics

Increasing investment in manufacturing is expected to propel growth of India ready to mix food market over the forecast period. For instance, in March 2021, iD Fresh Food announced its plan to invest nearly US$ 0.14 million to open new plants in Delhi, Hyderabad and in the US.

Major players operating in India ready to mix food market are focused on adopting partnership strategies to enhance their market share. For instance, in September 2021, Kohinoor Foods completed the US$ 0.71 million deal with US based spice maker McCormick to set up a joint venture for marketing basmati rice and other food products in India.

Key features of the study:

  • This report provides in-depth analysis of India ready to mix food market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in India ready to mix food market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Indian Tobacco Company, Mavalli Tiffin Room, Gits Food Products Pvt. Ltd., Kohinoor Foods, Priya Foods, and Bambino Agro-Industry
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • India ready to mix food market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing India ready to mix food market

Detailed Segmentation:

  • India ready to mix food market, By Applications:
    • Snacks Mix
    • Dessert Mix
    • Curry Making Enablers
  • India ready to mix food market, By Distribution Channel
    • Retailers
    • Kirana Shops
    • Online Purchase
    • Others
  • Company Profiles
    • Indian Tobacco Company *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Mavalli Tiffin Room
    • Gits Food Products Pvt. Ltd.
    • Kohinoor Foods
    • Priya Foods
    • Bambino Agro-Industry

 “*” marked represents similar segmentation in other categories in the respective.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Applications
      • Market Snippet, By Distribution Channel
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • PEST Analysis
      • PORTER’s Analysis
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
  4. India Ready to Mix Food Market- Impact of Coronavirus (Covid-19) Pandemic
    • Overview
    • Factors Affecting India Ready to Mix Food Market – COVID-19
    • Impact Analysis
  5. India Ready to Mix Food Market, By Applications, 2017 - 2028(US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Snacks Mix
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Dessert Mix
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Curry Making Enablers
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
  6. India Ready to Mix Food Market, By Distribution Channel, 2017 - 2028(US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Retailers
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Kirana Shops
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Online Purchase
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Others
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
  7. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • Indian Tobacco Company
        •  Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Mavalli Tiffin Room
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Gits Food Products Pvt. Ltd.
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Kohinoor Foods
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Priya Foods
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Bambino Agro-Industry
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 50 market data tables* and 45 figures* on " Ready to Mix Food Market” – India forecast to 2028

FAQgrowicon

Frequently Asked Questions

The market for India Ready to Mix Food Market is forecast to surpass US$ 915.18 million by 2028 witnessing a CAGR of 16% between 2021 and 2028.
Rise in overall disposable income of households of the Indian population and expanding modern retail formats in India are the factors fuelling growth of the market.
The Distribution Channel segment is the leading component segment in the market.
High packaging costs and poor supply chain and distribution channel are factors hindering growth of India ready to mix food market.
Major players operating in India ready to mix food market include, Indian Tobacco Company, Mavalli Tiffin Room, Gits Food Products Pvt. Ltd., Kohinoor Foods, Priya Foods, and Bambino Agro-Industry.
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