The value of the India ready-to-mix food market is poised to escalate from US$440.1 million in 2023 to US$1,749.7 million by 2033, fueled by a remarkable CAGR of 14.8% anticipated over the next decade.
Key Trends Shaping the Landscape:
- Health-Conscious Consumers: Today’s consumers are increasingly seeking healthier options that are good for them and the planet. This trend is creating a fertile ground for innovative ready-to-mix food products that cater to a variety of dietary needs.
- Snacking Revolution: The snacking culture in India is booming, offering brands the chance to develop exciting and convenient eating experiences for different occasions. This diversification will further propel the growth of the snacking and confectionery industry.
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- Sustainability as a Priority: Consumers are now factoring in sustainability when making purchase decisions. This is driving manufacturers to prioritize eco-friendly practices and responsible sourcing throughout the supply chain. By focusing on sustainable packaging, on-pack education, and minimizing environmental impact, brands can build consumer trust and loyalty.
- “Made in India” Advantage: The sentiment of supporting local businesses is gaining momentum. Brands can leverage this by crafting compelling brand stories that showcase their commitment to using responsibly sourced Indian ingredients, supporting local communities, and celebrating the “Made in India” identity. Highlighting these aspects through clear packaging labels, engaging marketing campaigns, and social media initiatives will resonate deeply with consumers.
This confluence of trends presents a powerful opportunity for decision-makers in the ready-to-mix food industry to:
- Develop a product portfolio that aligns with health and wellness preferences.
- Offer convenient and exciting snacking options for diverse consumer needs.
- Embrace sustainable practices throughout the supply chain.
- Craft a compelling brand story that celebrates the “Made in India” identity and resonates with national pride.
By capitalizing on these trends, industry leaders can not only capture a significant share of the growing market but also build long-lasting brand loyalty.
“A key enabler that is blurring the urban-rural divide in the context of ready-to-mix foods is its packaging. Consumers in rural areas are gravitated toward products with small, eye-candy, and bite-sized packets, that fit their pockets. The smaller formats are easier-to-purchase, offer better portion control, and encourage social sharing, and on-the-go-consumption. With invigorated distribution systems and quick commerce, this market can be substantially exploited,” says an FMI analyst.
Key Takeaways from the India Ready-to-mix Food Market Report
- The India Ready-to-mix food amassed a market size of US$ 392.9 million in 2022.
- The snack mix application segment accounts for a market share of 5% in 2023.
- The modern trade segment holds a share of 3% of the market by distribution channel over the forecast period.
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Unraveling the Competitive Scene in the India Ready-to-mix Food Market
Key players are bringing innovation in their ready-to-cook offerings, to elevate the taste, ease, safety, and mood of consumers. Moreover, to bring interesting eating experiences to the consumers’ palate, players are exploring global and regional flavors, textures, and tastes.
New mergers and acquisitions, collaborations, and investments will be seen in the upcoming decade. Additionally, enhancements in the packaging and pricing of the food items are expected to positively influence the market. In this regard, easy-to-access and easier-to-buy smaller units of ready-to-mix foods are expected to be a key trend in the India market.
Key Players in the India Ready-to-mix Food Market
- Mavalli Tiffin Room (MTR)
- GITS food products Pvt Ltd
- Indian Tobacco Company (ITC)
- Kohinoor Foods and Priya Foods
- Others
Recent Developments in the India Ready-to-mix Food Market
- In July 2023, as emphasis turns to millets in light of the International Year of Millets-2023, the CFTRI launched eight new products composed of millets. Some of the products that were launched consist of little millet puttu podi, finger millet semolina, ragi-based RTE malted weaning food, and instant finger millet khichdi dal.
- In November 2021, ITC unveiled ready-to-cook and ready-to-mix breakfast staples under the household brand “Aashirvaad”. The breakfast staples include suji, rawa, and vermicelli. In the future, the company will also be introducing poha, dalia, and millet cereals. Some of these categories have significant scope and the bandwidth to produce good margins.
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Market Segmentation
By Application:
- Snack Mix
- Desert Mix
- Curry Making Enablers
By Distribution Channel:
- Modern Trade
- Kirana Shops
- Online Retailers
- Other Distribution Channels
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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