India Ready Meals Market

Introduction of the India Ready Meals Market Report

Ready meals are frozen meal or prepacked meal that is already prepared and only needed to be heated to become ready for consumption. Ready meal is usually consisted of several types such as meat, vegetables, potatoes, dessert, and many others.

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Market Dynamic

Key Drivers and Emerging Trends

The factors driving the India ready meals market include the increasing demand for convenience food products and the emergence of hectic lifestyle attributes. The ready meal requires minimum or no further preparation before consumption. Moreover, the increasing working population is booming. The middle-class population has been rising rapidly over the years, particularly young adults looking for instant and convenient food products, leaning towards ready meals. In addition, with growing disposable income, Indian consumers will continue to trade-up in the prepared meal sector, providing manufacturers the opportunity to offer products with high quality and novel ingredients, due to which they are witnessing demand in this region.

Restraint in the India Ready Meals Market

However, ready meals are high in salt and fat and low in other nutrients. It can increase the risk of many diseases such as cardiovascular disease, diabetes, and cancer. These health-related issues can further restrict the market growth for India ready meals market. Additionally, during the manufacturing process of ready meal, it undergoes many processes resulting in loss of enzymes in the food that can cause chemical changes negatively effecting overall flavor and color of the food.

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Product – Segment Analysis

Based on the Product, the frozen food segment is expected to grow at the highest rate in the India Ready Meals market during the forecast period. Frozen foods are more popular among consumer as they provide a diverse menu and are convenient to prepare. A frozen food contains a meat entrée, a vegetable, and a starch-based food such as pasta and sauce. For instance, ITC manufacturers frozen food such as frozen snacks, frozen meat and frozen vegetables.

Distribution Channel – Segment Analysis

Based on the Distribution Channel, the online segment is expected to be the fastest growing market share over the forecast period in the India Ready Meals market. The growing trend of online shopping as the penetration of smartphones is increasing and has given the rise in internet usage is propelling the growth of e-commerce. Factors such as faster delivery options and discounts offered by different brands on online purchases will further drive the demand in the coming years. Online grocery websites such as BigBasket and Grofers also provide huge discounts on private label ready-to-eat products through online delivery.

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Key Developments:

• • In 2021, The Taste Company, a food start-up launched two non-veg meal boxes (chicken curry rice and prawn rice) and vegetarian meals on offer on a variety of platforms.
  • In 2021, Mother’s Recipe launches ready-to-eat combo meals for the Indian Railway Catering and Tourism Corporation. It will be available for all A+ Class trains such as Rajdhani, Duranto, Tejas covering to North, West, and South Zones of India.

Segments covered in the Report:

The India Ready Meals market has been segmented on the basis of Product and Distribution Channel. Based on Product, the market is segmented into Frozen Food, Ready to Heat, Ready to Cook. Based on Distribution Channel, the market is segmented into Hypermarkets/Supermarkets, Convenience Store, Online, Others.

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Key questions answered in this research report:

• • At what pace is India Ready Meals market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in India Ready Meals market? What will be the impact of drivers and restraints in the future?
  • Which product generated maximum revenues in 2020 and identify the most promising product during the forecast period?
  • What is the various distribution channel of India Ready Meals market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

India Ready Meals Market by Product

• • Frozen Food
  • Ready to Heat
  • Ready to Cook

India Ready Meals Market by Distribution Channel

• • Hypermarkets/Supermarkets
  • Convenience Store
  • Online
  • Others