The India ready-to-mix food market size is estimated to be USD 1,749.7 million by 2033. The ready-to-mix food demand in India is expected to register a remarkable CAGR of 14.8% through 2033, with a present valuation of USD 440.1 million in 2023.
Key Highlights
Consumers Inching Toward Healthy Brands for People and the Planet
The growth in the snacking sector is amplifying at a significant pace. Consequently, unfolding opportunities for brands to present new eating experiences for diverse moments. To add to this momentum, the increasing demand in India for judicious purchase choices is contributing to the expansion of snacking and confectionery industry. This industry encompasses salty and sweet nibbles, confectionary, chocolates, bakery, and frozen snacks.
Increasing Focus on Sustainability in the Ready-to-Mix Food Industry
In their search for the right snack, consumers are now also giving importance to the sustainability of the food item. This is strengthening the efforts of manufacturers, who are committed to elevating the sustainability quotient of ready-to-mix food products. Some of the clear markers of sustainability in the ready-to-mix food industry are on-pack education, post-consumption environmental impact, responsible packaging and sourcing, and community impact.
Brands Catching onto the Enthusiasm for Made in India Products
Key participants are leveraging the brand stories to gain higher customer loyalty. However, brand stories are not just what meets the eye. They run much deeper than what we see on TV or hear on music apps. Brand story is entrenched in the growth of communities, product journey, and echoes of shared purpose.
Small details like a clear print on a pack of the product that mentions being made in India, responsibly sourced ingredients, or a video of a farmer relishing the good harvest are some stories that make India proud and overjoyed. As new opportunities emerge for the ready-to-mix food industry, brand stories are becoming much more crucial to retain a loyal consumer base.
| Report Attributes | Details |
|---|---|
| India Ready-to-mix Food Market Size, 2022 | USD 392.9 million |
| India Ready-to-mix Food Market Size, 2023 | USD 440.1 million |
| India Ready-to-mix Food Market Size, 2033 | USD 1,749.7 million |
| Value CAGR (2023 to 2033) | 14.8% |
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The ready-to-mix foods and snacking industry has gone through many transformations since its inception. MTR Foods, which is an authentic Indian masala brand, has had much to do to enhance the acceptability of RTE in the India market.
The brand came up with the solution of RTE foods, snacks, and chutney at the time of the Emergency Act, which forced a reduction in the price of food served in restaurants. Since then, the convenience product has only grown in popularity.
| India Ready-to-mix Food Market Size (2022) | USD 392.9 million |
|---|
During the period from 2018 to 2022, the ready-to-mix food products in India have enjoyed accelerated growth due to the outbreak of coronavirus. The pandemic-induced panic buying in the initial months boosted sales of packaged Indian food products.
As consumers prioritized health and hygiene during the pandemic, the key players reflected on their offerings to bring about a nutritious change in their products.
The market was also introduced with new products. For instance, in January 2018, Tata Sampann introduced a ready-to-eat multi-gran khichdi mix. The food mix is inspired by the Guinness World Record-winning khichdi composed of the firm’s products at World Food India.
The company’s motto is to introduce products that are the amalgamation of traditional Indian wisdom and modern science.
As the market steps toward the future, more innovation and technologies are expected to be incorporated. With an impressive CAGR of 14.8% through 2033, the ready-to-mix food market is well-poised for forecast growth.
| Top Application | Snack Mix |
|---|---|
| Market Share (2023) | 52.5% |
For Indians, snacking has long been considered a significant gastronomical activity that heads toward satisfying the needs of the mind and body. With robust changes in the cultural, social, and economic dynamics, consumers are exhibiting higher concerns for taste, safety, and ease of grabbing the snack mix. Consequently, the inclination toward snack mixes for mood enhancement and quick energy is driving this sub-segment’s growth.
As per the latest ready-to-mix food market statistics, the snack mix sub-segment is expected to acquire a sizeable portion of 52.5%. The snacking patterns in India are constantly evolving. A key trend that has been indicating a deeper and more meaningful relationship between consumers with their snacks.
In India, around 81% of the population replaces 1 meal of the day at the minimum with a snack. Indian consumers have shown persistence in their search for the right snack.
Some of their endeavors consist of bite-sized indulgences, new expressions of their long-adored legacy snacks, and new-found fad for snack bars. India is brimming with snacking choices that are driven by physical and emotional well-being. Besides, the country is also driving innovation in its search for the sought-after right snack.
Key factors determining the decisions of snacking mix manufacturers:
| Top Distribution Channel | Modern Trade |
|---|---|
| Market Share (2023) | 38.3% |
Concerning a prominent distributor of ready-to-mix food, modern trade tops the charts with a share of 38.3% in the market. Modern trade refers to a sophisticated and organized system of chain retailers like hypermarkets, supermarkets, mini-markets, etc.
They are found mainly in cities and are usually corporate-owned. Due to the easy availability and high visibility of new ready-to-mix options in modern trade stores, consumers can easily scan and purchase preferable products.
With the high number of women professionals located in urban cities, it makes sense that female buyers with hectic work schedules are expected to opt for easy solutions to prepare at their homes. Consumers are gravitating toward ready-to-mix solutions that are claiming their products as organic/natural and claim-free.
The India ready-to-mix food market is witnessing increasing investments due to its perceived robust momentum. Leading brands in the market are investing to scale up their manufacturing infrastructure and boost their marketing and sustainability goals. Brands are also turning to social media platforms like YouTube to share their recipes and attract views, to ensure that they remain on the top of their consumers’ minds.
Key players in the ready-to-mix food market are also seeking ways to lower their carbon footprint. Further, merchants are introducing global as well as regional flavors of different states in India. Ready-to-mix food items with elevated texture, flavor, and satiety level, along with health and convenience is expected to lure more customers who are on the path of mindful consumption.
Recent Developments in the India Ready-to-mix Food Market
Key Players in the India Ready-to-mix Food Market
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The market is valued at USD 440.1 million in 2023.
The market will grow at a remarkable 14.8% CAGR through 2033.
Key players include MTR, GITS, ITC, Kohinoor Foods, and Priya Foods.
Consumers prefer modern trade stores for buying ready-to-mix food.
Snack mix is in high demand, capturing 52.5% of the market in 2023.
| Estimated Market Size (2024E) | USD 195.9 billion |
|---|---|
| Projected Market Value (2034F) | USD 391.1 billion |
| Value-based CAGR (2024 to 2034) | 9.2% |
| Market Valuation (2023) | USD 34.3 billion |
|---|---|
| Market Valuation (2033) | USD 72.9 billion |
| Market CAGR (2023 to 2033) | 8% |
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