The India ready to mix food market comprises premixed spices, sauces, gravies, and battered/breader food products that offer convenience of preparing food at home with minimal efforts. The ready to mix products are available as powder, paste, or liquid form and contain key ingredients in accurate proportions, saving significant time and efforts in food preparation. Moreover, these products help extend the shelf life of food items without compromising on the taste.
The Global India Ready to Mix Food Market is estimated to be valued at US$ 511.37 Bn in 2024 and is expected to exhibit a CAGR of 25% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the India ready to mix food are Kush Supply Co., J.L.Clark, KAYA Packaging, Impak Corporation, Pollen Gear, Maple Leaf Green World, Lexaria Bioscience, Cannaline Cannabis Packaging Solutions, Green Rush Packaging, Berry Global, Pacific Packaging, Sun Grown Packaging, Sana Packaging, SKS Bottle & Packaging, SWAGPLUG, HLP Klearfold, N2 Packaging Systems, Dymapak, Pollen Gear, Funksac.
The growing working population and hectic lifestyle in India has fueled the demand for convenient food options. The ready to mix food products offer significant time savings in food preparation without compromising on the taste. This has boosted their popularity among both working professionals and homemakers.
Ready to mix food manufacturers are also expanding their presence across major cities as well as tier 2 and tier 3 cities in India. The improving living standards and rising disposable incomes in rural areas provide huge opportunities for market players. Various companies are launching new offerings catering to regional tastes to tap the untapped rural demand.
Market key trends
The key trend prevalent in the India Ready To Mix Food Market is the expansion of product offerings by companies. Manufacturers are innovating new products and flavors to cater to evolving consumer tastes. They are focusing on launching healthy options made with whole grains, low salt, sugar-free, vegan, gluten-free, and organic ingredients. Companies are also offering customization options and personalized mixes allowing consumers to select ingredients of their choice. Furthermore, players are developing innovative packaging solutions like zip locks and easy pour pouches for better handling and storage of ready to mix food products.
Porter’s Analysis
Threat of new entrants: The market experiences moderate threat of new entrants as it requires significant investments for research & development and brand building.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are many established players in the market offering substitutable products.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of substitute raw materials suppliers.
Threat of new substitutes: The threat of new substitutes is moderate as there are a few alternative products available in the market.
Competitive rivalry: The competitive rivalry is high due to the presence of many domestic and international brands.
Geographical Regions
India accounts for a major share of the ready to mix food market in terms of value contributed. The western region of India generates the highest demand for ready to mix foods owing to the higher disposable income levels and changing lifestyles of consumers in this region.
The southern region of India is expected to emerge as the fastest growing regional market for ready to mix foods over the forecast period attributed to increasing urbanization, rising working population and growing inclination towards convenience foods in this region.
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