Indian ready-to-eat market
Ready-to-eat or RTE food products are defined as that form of animal or plant derived food that can be offered to the customer after being washed, cooked, frozen and processed. RTE food items are already prepared and can be consumed only after heating. Such products are convenient for the consumers since it saves both time and energy.
The concept of RTE food was introduced in India in 1987 by a Pune based company named Tasty Bites Eatables. The products launched initially did not get much popularity among the contemporary Indian consumers.
In the recent years, RTE items have gained popularity due to busy lifestyles, increased tourism and changing food habits across India. Currently, the RTE items are considered to be the largest segment of the overall food industry comprising both conventional and non-conventional products. Over time, the Indian RTE products, especially the cereal, vegetable and meat based items have shown significant demand among the non-resident Indians.
Key growth factors
o The average income level of Indians have been increasing in the recent years. In addition to it, nowadays, both men and women work. As a result, the number of people earning in a given family is increasing. This has in turn raised the per capita spending capacity. These factors are increasing the average consumption of RTE products in India.
o As per the United Nations (UN) World Urbanization Prospects 2018 report, the rate of urbanization has increased to a considerable level since the 2009 census. The fast changing urban lifestyle and the new trend of living away from home for studying and employment purposes have eventually resulted to the growing demand of RTE food in India.
Threats and key players
o The Indian food processing market faces serious problem due to the lack of effective product distribution system. Also, the elderly population of the country has a negative perception about the nutritional value of packaged RTE products. Such mind-set and increased health concern among Indians are affecting consumer behaviour adversely.
o ADF Foods Ltd., ITC Ltd., Kohinoor Foods Ltd., Venky?s India Ltd., Aakriti Foods Pvt. Ltd. and Gits Food Products Pvt. Ltd. are some of the major players operating in the Indian RTE market.
What is covered in the report?
1. Overview and structure of the Indian RTE market
2. Detailed description of the value chain of the RTE products in India
3. Historical, current and forecasted market size data for the Indian RTE market (2017 to 2023)
4. Qualitative analysis of the Indian RTE market based on competitive forces addressed by Porter?s five forces analysis
5. Trade analysis of the RTE market in India
6. Qualitative analysis of the major drivers and challenges affecting the market
7. Analysis of the competitive landscape and profiles of major players operating in the market
1. Get a broad understanding of the RTE market in India, the dynamics of the market and current state of the sector
2. Strategize marketing, market-entry, market expansion and other business plans by understanding the factors driving growth in the market
3. Understand major competitors? business strategies and market dynamics and respond accordingly to benefit from the market
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This post was originally published on Software Industry