India Ready-to-Cook Food Market Forecast and Opportunities, 2019
In India, the demand for Ready-to-cook (RTC) food products has been increasing over the last few years on account of busier lifestyles and rising income levels of consumers. With considerably rising employment opportunities in the countrys urban set-ups, India has been witnessing continuing migration of a large number of people from its rural and semi-urban pockets to tier 1 and tier 2 cities. This has been consequently providing a huge impetus to RTC food products market in India, especially over the last five years. The Indian middle class, in particular, is witnessing a paradigm shift in their lifestyle and living standards. Presently, nuclear families and bachelors residing in metropolitans for academic and employment purposes are among the major consumers of RTC food products. Due to cultural diversities, companies are increasingly focusing on launching regional RTC products. Another factor driving the penetration of RTC food products is their easy availability across major retail chains, hypermarkets and supermarkets in the country.
According to India Ready-to-Cook Food Market Forecast & Opportunities, 2019, the RTC food products market in India is estimated to have touched US$ 120 million in 2014. The RTC food market has been segmented into dessert mixes, snack mixes and curry making enablers. Of these three product categories, dessert mixes outperformed other product segments in 2013 and are expected to continue their dominance through 2019. Currently, Northern states of India accounts for the largest revenue share in the countrys RTC market. Major reason for North Indias dominance include higher employment opportunities and rising disposable income level of people residing in this region. Indias RTC food market is dominated by a handful of well-known players such as ITC, MTR, Haldirams and Gits. India Ready-to-Cook Food Market Forecast & Opportunities, 2019 report...