The Indian ready to mix food market comprises a wide range of powdered, dehydrated, and frozen food products that only require the addition of water, milk or oil for preparation. Ready to mix food products such as dosa, idli mixes, pancake mixes and soup mixes cater to the on-the-go lifestyle of urban population. The market has witnessed significant growth over the years due to rising number of working women, increasing disposable income and evolving food consumption patterns.
The global India ready to mix food market is estimated to be valued at US$ 443.89 Mn in 2024 and is expected to exhibit a CAGR of 25% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing Ready to Eat Trend among Millennial Population
Their increasing exposure to global cuisine and western food habits has fueled the demand for ready to eat and ready to mix food products in the country. Furthermore, rising health consciousness and preference for healthy meals without compromising on taste and quality are driving the adoption of healthy ready to mix food mixes such as quinoa mixes, millet mixes and whole grain mixes.
Another key driver propelling the growth of the market includes expanding middle class population and rapid urbanization. Urban dwellers lead a hectic lifestyle with long working hours, resulting in reduced time for meal preparation at homes. The availability of variety of ready to mix products such as idli, dosa mixes, instant noodles, soups and pasta sauces have provided much needed convenience to these consumers without compromising on taste.
Segment Analysis
The India ready to mix food market is dominated by the beverages sub-segment. Ready to mix beverages account for over 40% of the market share owing to the rising consumption of health drinks, juices and other health-centric beverages among Indian consumers. The demand for healthy and nutrition rich beverages is high especially among young working professionals who have busy lifestyles and look for convenient yet healthy beverage options.
PEST Analysis
Political: The government has been promoting the ready to mix food industry through various initiatives such as ‘Make in India’ and FDI reforms. This has attracted major global players to set up manufacturing bases in India.
Economic: Rising disposable incomes and dual income households have increased the demand for convenience products like ready mixes. Indians are willing to pay premium prices for branded and packaged food items that save time and effort in preparation.
Social: Changing work culture and fast paced lifestyles have increased the demand for convenient and ready-to-eat options. Nuclear families prefer food items that can be prepared quickly. Health and wellness trends have also boosted the demand for healthy ready mixes.
Technological: Advancements in food technology and packaging have enabled better shelf life and portability of ready mixes. Companies offer innovative product formats and convenient single-serve packs catering to urban consumers.
Key Takeaways
The Global India Ready To Mix Food Market Size was valued at US$ 443.89 Mn in 2024 and is expected to witness high growth over the forecast period till 2030. The global India ready to mix food market is estimated to be valued at US$ 443.89 Mn in 2024 and is expected to exhibit a CAGR of 25% over the forecast period 2023 to 2030.
The western region currently dominates the market owing to high disposable incomes and rapid urbanization in cities like Mumbai and Pune. Cities especially tier I and II cities offer immense growth potential for ready mix companies.
Key players operating in the India ready to mix food market are MTR Foods, McCain Foods (India) Pvt. Ltd, ITC Limited, Premier Foods Group Limited, United Biscuits (India) Limited. MTR Foods leads with over 20% value share owing to its wide product portfolio and pan India distribution network. Premier Foods and ITC are also among the top players in the market.
The demand for healthy and customized ready mixes is rising rapidly. Market players are launching new product lines with ingredients like millets, quinoa and multi-grain to cater to health-conscious consumers. Companies are also focusing on expanding retail presence, enhancing distribution networks and increasing marketing and advertising spends to gain market share. The future prospects of the market are highly positive with demand projected to double by 2030.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it