The India ready-to-mix food market value is likely to jump from US$ 440.1 Million in 2023 to US$ 1,749.7 Million by 2033. The demand for ready-to-mix food in India is expected to be driven by an impressive CAGR of 14.8% over the next decade.
RTE food items are gaining huge demand in India as consumers seek the most out of the snacking-in-the-moment experiences. Consequently, demand for the right blend of taste and nourishment in ready-to-cook foods has escalated. Consumers are giving their trust to brands that are developing snacks the right way with better-for-you ingredients at heart, thus delivering uncompromised quality and taste. Not to mention the accessibility of these products, as foods that are at arm’s reach gain higher adoption.
A key example of the trending better-for-you ingredients is finger millet grains, which are being used by scientists at CFTRI with the aim of maximizing the use of finger millet. Finger millet grains are recently gaining high incorporation in ready-to-mix food products due to their high nutrition content. The product is enriched with different nutrients and several health-promoting components like dietary fiber, vitamins, minerals, and phytochemicals that have many potential health benefits.
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In an interesting turn of events, the niche snack innovations and categories in India can now be seen as being highly consumed in the smaller pockets of the country. Social media is a key contributor to this development, which has significantly coaxed consumers to experiment with snacking options. However, the role of e-commerce and quick commerce in the robust growth and penetration of ready-to-eat foods is quite prominent.
“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.
Market Segmentation
By Application:
Snack Mix
Desert Mix
Curry Making Enablers
By Distribution Channel:
Modern Trade
Kirana Shops
Online Retailers
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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