India Ready to Mix Food Market to be US$ 915.18 Mn By 2028

The India Ready to Mix Food Market was valued at US$ 284.38 million in 2020, according to India Ready to Mix Food Market Report, by Application (Snacks Mix, Dessert Mix, and Curry Making Enablers), by Distribution Channel (Retailers, Kirana Shops, Online Purchase, and Others), published by Coherent Market Insights.

The India Ready to Mix Food Market was valued at US$ 284.38 million in terms of revenue in 2020 and is predicted to grow at a CAGR of 16% during the forecast period (2021 to 2028). Ready to mix food is part of processed and convenience food products. Instant gulab jamun, cake, chapatti, dosa, and idli mixes are some of the types of ready to mix foods. These ready to mix food products are produced by blending several ingredients in the required proportions. Ready to mix foods are widely available across Retailers, Kirana Shops, and Online platform.

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Browse 50 market data tables* and 45 figures* on “Ready to Mix Food Market” - India Forecast to 2028.

Key Trends and Analysis of the India Ready to Mix Food Market:

Growing demand for premium food products due to the increasing working population is expected to be one of the trends in the ready to mix food market. Also, growing urban population in India is another major factor playing a significant role in the overall development of India ready to mix food. According to The Energy and Resources Institute, India’s urban population is expected to grow from 410 million in 2014 to 814 million by 2050. By 2025, 46% of Indians will live in cities with more than 1 million people, and India is projected to add 4 new megacities by 2030.
Rising aggressive marketing and advertising strategies by key players is one of the trending strategies in the market. For instance, in April 2017, Bangalore-based food products major, MTR Foods, recently launched their 3 Minute Breakfast range. Indian breakfast that can be prepared in just 3 minutes by adding hot water. To promote this range, the objective of MTR's campaign was to counter the non-belief among consumers of Indian breakfast being prepared in under 3 minutes

Market Opportunities

The growing number of Exhibitions in the country is projected to offer bright opportunities in the ready to mix food market over the forecast period. For instance, The International FoodTec India fair, held annually in Delhi and Mumbai alternately, covers processing, technology, and packaging of food and beverages. In addition to this, for the past 20 years, the FoodPro exhibition has been organized by the Confederation of Indian Industry (CII). This exhibition provides a common platform for all stakeholders to share the latest developments in the food processing industry.

Recent Developments

In July 2021, Indian Tobacco Company Ltd, which offers popular packaged consumer brands such as Aashirvaad flour, Bingo! Chips, YiPPee! Noodles, Sunfeast cookies, and Savlon, saw its sales via e-commerce double in FY21.
In July 2021, to meet the increased demand for oral and vaping products in the US and EU markets, Indian Tobacco Company is expanding its tobacco business by manufacturing and exporting nicotine and nicotine-derivative products.
In July 2020, Gits improves its food manufacturing facilities with Russell Finex screening equipment, the Finex Ultima and Russell Compact Sieve would meet the criteria and give significant benefits for the many food applications.

Market Restraints

Growing health awareness among Indian consumers is restricting the adoption of ready to mix food. Increasing adoption of a healthy lifestyle is limiting the consumption of processed and convenience food products. This is a major factor inhibiting the market growth of India ready to mix food over the forecast period.

Key Takeaways

The India Ready to Mix Food Market was valued at US$ 284.38 Mn in 2020 and is forecast to reach a value of US$ 915.18 Mn by 2028 at a CAGR of 16% between 2021 and 2028.
The Application segment was valued US$ 284.38 Mn in 2020 and is expected to witness a CAGR of 16% over the forecast period.

Key Players

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.
These players are constantly engaged in mergers, acquisitions and product launches to gain competitive advantage over other players. For instance, In September 2018, in a move to come back, Gits Foods launched an Instant-mix maker.

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

In India, from 3 January 2020 to 5:10pm CEST, 23 September 2021, there have been 33,563,421 confirmed cases of COVID-19 with 446,050 deaths, reported to WHO. India witnessed a burst in demand for fast moving consumer goods in 2021. This can be attributed to increasing preference for home-cooked food. With many corporate companies in India offering work from home and the populace avoiding restaurants and delivery in fear of spread of the Covid-19 infection, the demand for ready to eat and ready to mix food products has increased significantly. Such scenario is expected to offer lucrative growth opportunities for players in India ready to mix food market.

Market Taxonomy

By Applications