Rapid urbanization and increase in the literacy rate among Indian populace is driving womens in the country to take up jobs. The rise in per capita expenditure and disposable incomes is further accelerating the ready-to-cook market in India. The wide prevalence of organized retail is increasing the sales of ready-to-cook food products. Supermarkets and hypermarkets are preferred by consumers due to the availability of products of all categories under a single roof, which is not possible in small shops. The increasing disposable incomes and rapid urbanization are shifting consumers' buying preferences from neighborhood convenience stores to supermarkets and hypermarkets.
Factors such as growing preference for convenience food products in working population, new product launches, and the evolving retail landscape will drive the growth of the ready-to-cook market in India. However, growing health concerns might hamper the market growth. Over the past few years the rising trend of employment of work from home and hectic lifestyle preferring Ready-To-Cook market more and more. In past years only Tier I and some Tier II people were having an instant mix and ready-to-mix products. But, now due to the increase in disposable income and urbanization people are aware of these products and are eager to use them.
In this era of 2021 people are more concerned about convenient package food with more variants. From quality to a price point of view India Ready-To-Cook market will show a surge in the market by doubling the revenue from the current year 2020. According to Bonafide Research’s latest report published “India Ready-to-Cook market Outlook, 2027-28” the market grew historically with growth rate of around 14% and further expected to grow robustly over the forecast period. Due to fast-paced Urban Lifestyles and working women in the country, there would be a steep rise in the Ready-To-Cook market. The ready-To-Cook market includes four categories Instant Noodles, Pasta, Soup, and Ready-To-Mix market.
Among all the four categories, instant noodles have immense potential for future expansion due to their easy affordability by the common man across rural as well as urban areas. In India, there has been a major shift in the food habits of metropolitan consumers, as they prefer to have more instant food. The convenience factor has provided an impetus to the ready-to-cook industry in India over the past few years.
Modern Trade in the Ready-To-Cook market has witnessed a wide variety of products to capture a bigger market. Many Big companies have adopted their first Sales channel as a modern Trade to increase their market share. Due to Corona effect on the Market people are shifting from traditional to Online sales which increases the online market. Many companies are introducing their new products online so that people get aware of their new range.
Due to the dual income earning factor and the increase of semi-urban areas, people ready to experiment with new products which will ease their work and life. The perception to have Ready-To-Cook food is increasing more because of its quality, healthy food, easy availability, ease to cook. In this modern era people the trend of “Joh dikhta hai, Wahi bikta hai” is more acceptable. MOMS- Meal Of The Moment came in 2017 with an idea of a ready-to-mix breakfast and rice segment by doing a campaign mostly on the internet and social media. Social media trends can capture the market more easily. Marketers are always looking for a medium which appeals to consumer fast. People’s craze in Instagram, an online e-commerce platform has surged the acceptance of new products from the market. Many RTC products are also used in the HORECA segment (means HO-Hotel, RE-Restaurants, CA- Cafeteria) where they can easily use mixes to attract customized tastes and preferences by the customer.RTC products are cost-effective, lighter weight, more variants are the pre-eminence for the India Ready-To-Cook market.
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