India Ready-to-Eat Food Market Set to Grow at over 16% CAGR until 2023
Rising
urbanization, growing working population along with longer shelf life and easy
availability of ready-to-eat food products to drive India ready-to-eat food market
through 2024
According
to TechSci Research report, “India
Ready-To-Eat Food Market By Segment, By Distribution Channel, By State, Competition,
Forecast & Opportunities, 2023”, India ready-to-eat food market is
projected to grow at a CAGR of more than 16%, during 2018-2023, on account of expanding
distribution network, aggressive
marketing strategies by major ready-to eat-food manufacturers, increasing
number of modern retail chains and innovation in products offerings.
Moreover, increasing urbanization, rapid
development of fast food chains coupled with longer shelf life and easy
availability of frozen food products is further anticipated to fuel growth in
India ready-to-eat food market during forecast period.
Browse 24 market data Figures spread
through 71 Pages and an in-depth TOC on "India Ready-to-Eat
Market"
https://www.techsciresearch.com/report/india-ready-to-eat-food-market/3882.html
India ready-to-eat food market is broadly segmented
into frozen ready-to-eat and shelf stable ready-to-eat food. The former
dominates the market and is anticipated to continue its dominance during
forecast period as well on account of high penetration rate and
easy availability of a wide variety of ready-to-eat products in different packaging formats at various retail points.
Moreover, leading market players are offering frozen food products keeping in
mind taste and preferences of consumers. Among regions, North India emerged as a
major revenue generator in India ready-to-eat food market as the region is
developing at a faster rate, which is resulting in improvement in lifestyle,
increase in per capita disposable income due to higher working population and
rise in migrant population supported by available employment opportunities. These
factors are consequently resulting into need for convenience food, which, in
turn, is increasing the sales of ready-to-eat food products in the region. The
majority of the demand in the northern region is emerging from Delhi & NCR
(National Capital Region) area. In NCR area, Gurgaon and Noida are the key
demand generators owing to existence of a large number of offices and other
commercial hubs. The working population is among the major buyers of ready-to-eat
food products in the region.
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“India ready-to-eat food market is growing as rising
number of consumers are gradually inclining towards easy, convenient and less
time-taking food items such as ready-to-eat food products, which include frozen
and shelf stable food items. Convenience is a major factor contributing to the
demand for ready-to-eat food products in the country. Further, to promote
benefits and create awareness about frozen food products, manufacturers are
investing in marketing strategies and introducing new products in innovative
packaging, which is helping them to increase brand value as well as sales of
their products. These developments are expected to drive the market for ready-to-eat
food products in India over the next five years.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“India Ready
To Eat Food Market By Segment, By Distribution Channel, By State,
Competition, Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of India
ready-to-eat food market and provides statistics and
information on market structure, size, share and future growth. The report is
intended to provide cutting-edge market intelligence and help decision makers
to take sound investment decision. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities present in the India ready-to-eat food
market.
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