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Growing Trend of Ready-To-Mix Market in India

Monday, October 3, 2016 3:56
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Ready to cook market in India consists of four broad categories namely ready to mix, instant noodles, soup and pasta. Currently, ready to mix is a small category as compared to instant noodles but is growing robustly. Perhaps the most favourable factor that tilts the scales toward this convenience food is the time saving element. One can actually dish out their favourite preparations in moments, merely by reading the instructions on the wrapper. It is also heartening that with packaged RTM foods the customer is assured of the quality, taste & continued freshness of the product till the expiry date which can be as long as 12-18 months in certain cases. While consumer convenience is the key factor, driving the India ready-to-mix market, increase in working women population due to increased standards of education, high disposable income of households, and growing organised retailing in India are other factors contributing to the growth of the market.

According toIndia Ready-To-Mix Market Outlook, 2021, the overall market for ready-to-mix is growing with a CAGR of 13.22% from last five years. The market is divided into four segments viz. snacks mix, curry mix, dessert mix and others (rice & meals). Snacks mix dominates the industry with products like masala upma mix, rava dosa mix, rava idli mix, dhokla mix, poha mix, etc. The south Indian dosa and idli appear to be steaming up the competition with even multinationals acknowledging the strength of south Indian cuisine on Indian breakfast tables. Some regional players have also come up with niche products like Sev Puri, Kachori, Pakoda, Aloo Mash, Nylon Khaman, Aloo Chana Chat and Dahi Vada.

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On the other hand, curry mix is anticipated to register highest growth in the forecast period. North Indian curries capture the curry mix segment largely with products such as Aloo Mutter, Chana Masala, Dal Fry, Dal Makhani, Navratan Kurma, Paneer Butter Masala, Paneer Makhani, Bhindi Masala, Mixed Vegetable Curry, Palak Paneer and Rajma Masala. Non-vegetarian curries like chicken curry are also increasingly becoming popular among Indian consumers. Chicken Curry, Butter Chicken, Prawns Curry and Chicken Achari are some of the innovative products in the non-vegetarian categories. Desserts such as gulab jamun, halwa, besan ladu, kheer and vermicelli payasam have always occupied an important place in Indian cuisine. After gulab jamun and halwa mix, ice cream mixes are gaining increasing popularity in the country. With the increase in the number of diabetes mellitus cases in India, sugar-free dessert mixes with artificial sweeteners have also become very popular. Desserts are an occasional thing but with these ready to cook dessert mixes, manufacturers are trying to increase their consumption on everyday basis.

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Others which include rice and meals is still a small segment in the RTM industry. Rice is available in combinations such as Bisibele Bhath, Rasam Rice, Sambar Rice, Jeera Rice, Tamarind Rice, Tomato Rice and Hyderabadi Biryani whereas meals include Rajma & Chawal, Dal Makhani & Rice, Chana Masala & Jeera Rice, Jowar Meal, etc. MTR Foods is a prominent player in the market and has the first mover advantage. Apart from MTR, the other well-known players in the ready-to-mix industry include ITC Ltd, Gits Food Products, Kohinoor Foods, iD Fresh Food, Maiyas and Bambino Agro Industries. There are less than a handful of national players, while the stiff competition comes from regional and local players. South India leads the packaged RTM market as the market is already sizeable in some of the southern states and growth is picking up across other regions too. Modern retailers are expected to record highest compounded annual growth rate followed by online purchase during the forecast period. Retail chains are crucial in increasing the awareness about ready-to-cook products among consumers. Although the home delivery and take-away services provided by restaurants remain a threat, the market will continue to grow through its innovative strategies.

Key Segments Covered

� Snacks Mix

� Curry Mix

� Dessert Mix

� Others (Rice & Meals)

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