List of Profitable Business Ideas for Ready to Eat, Convenience Food & Processed Food Manufacturing Projects.
List of Profitable Business Ideas for Ready to Eat, Convenience Food & Processed Food Manufacturing Projects.
List of Profitable Business Ideas for Ready to Eat, Convenience Food & Processed Food Manufacturing Projects. Snack Foods Production and Packaging Industry.
Production of Ready to Eat Food, RTE Food, Ready to Serve Food, Ready to Cook Food, Convenience Food, No-Cook Food, Packaged Food, Processed Food Products, Snack Foods, Frozen Foods, Shelf-Stable Foods, Instant Foods.
Ready meals in India, growing from a small base of sales, are gaining popularity because of convenience, the availability of offerings providing the authentic taste of Indian dishes and availability across all retail channels. Traditional Indian meals such as poha, upma, biriyani, dal chawal and many others are the most popular and highly consumed dishes which are available in single-portion and family-portion sizes in ready meals formats across retail outlets. These dishes provide alternative meal solutions as they eliminate the hassle of long hours of cooking and the need for cooking aids, thus proving effective for students, the working classes and mainly people who have been skipping meals due to time constraints in their busy work schedules.
Ready to Eat food took its own sweet time to enter the Indian market. Though rising per capita disposable income of consumers, especially upper and lower middle income group, is driving India’s ready-to-eat food market, a large chunk of Indian consumers are still price conscious, which poses a challenge for the ready-to-eat food manufacturers and suppliers. Further minor variation in prices directly affects the preference of brands/products among the Indian consumers.
Increasing workforce, improving consumer lifestyle, and expanding retail formats are the key drivers buoying growth in RTE food products demand in the country. Northern and western region are the key revenue contributors in the RTE food market, with major demand emanating from cities like Delhi-NCR, Mumbai, Ahmedabad, etc. Segment wise, shelf stable RTE food demand exceeds that of frozen RTE food in the country. This is attributable to the fact that frozen RTE food needs proper refrigeration for maintaining their shelf life. However, high price of RTE food products is a major factor posing threat as Indian consumers are innately price conscious and their preferences generally change with even slightest change in price.
The ready to eat market in India is showing remarkable growth owing to the growing income & consumption levels of the Indian consumers. In addition to this, rapid urbanization is also augmenting the demand for ready to eat products. Urban people suffer from time crunch due to their busy work schedules and this is leading to increased dependence on ready to eat foods. This is further aided with the penetration and availability of a wide variety of ready to eat products in different packaging formats at various retail points. All these factors are indicating towards the bright future of the Indian ready to eat market in the coming years.
The market is anticipated to grow on account of increasing working population, growing per capita disposable income, rising per capita expenditure on prepared food, increasing middle class and affluent consumers, etc. With the rising employment opportunities and changing lifestyle of consumers, the demand for ready-to-eat food products in the country is projected to grow during the forecast period as well. India has a large base of young consumers, who form majority of the country’s workforce. These young consumers hardly find time for traditional cooking due to their busylife styles which further creates significant potential for ready-to-eat food products.
The growth in quick service restaurants, increasing population of working women, millennial population, busy work schedules, and retail chains are the key contributors in increasing the awareness about the ready-to-eat products among consumers. The global ready-to-eat food products market is segmented by product type, packaging and distribution channel. The meat/poultry segment is projected to account for the largest share by value. In developed countries, food consumption is expected to arise mainly from the slow rate of population growth rather than the excess in per capita consumption. Developing countries, on the other hand, are expected to account for an increased food demand, due to mounting population, as well as surplus per capita food consumption. India has a large base of young consumers, who form the majority of the country’s workforce and are the primary consumers. However, unhealthy substitutes, low quality, taste and shift towards a healthier lifestyle is likely to hinder market growth over the coming years. A large chunk of Indian consumers are still price conscious, which poses a challenge to the ready-to-eat food manufacturers and suppliers.
Pasta Products
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Demand : Past and Future |
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Year |
(In '000 Metric Tonne) |
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1990-91 |
46.00 |
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2000-01 |
115.00 |
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|
2001-02 |
125.90 |
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2002-03 |
136.60 |
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2003-04 |
148.20 |
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2004-05 |
160.45 |
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2005-06 |
173.40 |
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|
2006-07 |
187.00 |
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|
2007-08 |
201.15 |
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2008-09 |
216.00 |
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|
2009-10 |
231.60 |
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2010-11 |
247.80 |
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2011-12 |
265.00 |
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2012-13 |
282.76 |
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