Parent Market Analysis
Convenience food doesn’t require a lot of preparation and is easy for consumption. Convenience food market comprises ready to cook and ready to eat products. Among which ready to eat includes frozen foods, chips, bakery items and others. Whereas ready to cook has been further segmented into snacks mix, dessert mix and curry mix. Increased consumer awareness towards ready to mix food in India has changed consumer preferences for food resources which take less time and energy to prepare. Moreover, a shift in consumer preferences for packaged food products is a prime concern for consumers and thus has led to transitions in this market. Additionally, continuous product launches, considering the demand and taste of consumers are expected to support the robust growth for ready to mix food market in near future.
Ready to Mix Food Market Overview
Ready to Mix food market holds an essential place under convenience food segment owing to its benefits such as less time to prepare, easy consumption and low caloric. Ready to Mix food market is further segmented on the basis of the application type and by distribution type.By application type, it includes snacks mix, dessert mix and curry mix.
By distribution type, it is divided into retailers, Kirana shops, online purchase and others. Among the application type, snacks mix are expected to record a higher CAGR as compared to the other ready mixes from 2014 to 2020. However, by application type, curry mix is also expected to witness a substantial growth during the forecast period.
Market Value Forecast
Ready to Mix food markets is estimated to value at US$ 121.7 million in 2014 and expected to reach US$ 284.4 million by 2020, reflecting a CAGR of 15.7% during 2014-2020. In terms of application type, snacks mix expected to have the highest CAGR of 15.9% by the end of 2020, followed by curry mix which is 15.8%.
By application type, it comprises of snacks mix, dessert mix and curry mix. Snacks mix includes dhokla, gobhi Manchurian, bhaji and bonda, bhelpuri, idli, dosa. Dessert mix includes Gulab Jamon mix, kulfikesarbadam, rabri mix, kulfi kesa Pista, besan laddoo and others and curry mix includes dal makhani, shahi paneer, dal fry, veg kadhai, chana masala, palak paneer and others. Snack mix is expected to dominant during the forecast period, accounting for 50.99% of the overall market share by 2020. However, curry mix is experiencing a robust growth, registering a CAGR of 15.8% during the forecast period. Among all aforementioned snacks, dessert and curry segment: snacks mix is predicted to account for the largest market, with a CAGR of 15.9% to account for US$ 145.01 million in 2020. This growth is supported by extensive consumer demand coupled with regional taste and preferences of snacks mix products.
By Distribution Analysis
On the basis of distribution, ready to mix food market includes retailers, Kirana shops, online purchase and others.Among all these retailers is expected to be the top segment, which collectively accounted for nearly 49.37% of the market share, followed by Kirana shops, which accounts for 29.09% of market share. Retailers include wholesalers, department stores, speciality stores and convenience stores.
In terms of CAGR growth, retailers being the recorded the highest growth which is 16.2%, followed by online purchase, which is 15.8% respectively during the forecast period. Market share of Kirana shops is 29.09%, followed by online purchase which is 15.04%by 2020.
Increase awareness about ready to mix food products through promotional methods like advertising, exhibitions, seminars, workshops and providing lucrative margins to distributors is expected to strengthen the partnership across the value chain. Increasing product visibility in modern retail formats as retail shelf space and product availability is predicted to create demand for ready to mix food products among the consumers in India. Since, consumer behaviour and perception is uncertain and unpredictable, it is a concern for companies in this market. Recognition of ready to mix food as an ingredient in food and beverages sector, increasing awareness through online marketing, and strengthening supply chain in India are key focus areas for companies in this market.
Competitive Players Outlook
The India Ready to mix food market is dominated by Mavalli Tiffin Room(MTR), GITS food products Pvt Ltd, Indian Tobacco Company(ITC), Kohinoor Foods and Priya Foods.
This Future Market Insights report examines the Ready to Mix Food Market India for the period 2014–2020. The primary objective of the report is to offer updates on the ready to mix food market, which is significantly transforming processed food in India. The Ready to Mix food market is a part of processed food market which falls in food and beverage industry. Ready to mix food is in demand because of the experimental palate of consumers and they want to invest less time and energy to cook considering the liabilities which they have. It is a type of a product which is gaining popularity urbanisation and rising disposable income.
The Ready to mix market report starts with an overview of the Ready to Mix Food market and the industry offerings which it has to give. India Ready Mix to a food market is categorically split into two components: Ready to Mix food market by application and Ready mix food market by the distribution.
In the next section, FMI covers the India Ready to Mix food market performance in terms of ready to mix food market by revenue split, since this is detrimental to the growth of this market. This section additionally includes FMI’s analyses of the key trends, drivers and restraints from the supply, demand and economy side, which are influencing the ready to mix food market. Impact analysis of key growth drivers and restraints included in the ready to mix food report to better equip and arms clients with crystal clear decision-making insights.
The primary focus of the following sections to analyse the Ready to Mix food market by adoption among segments; the primary segment covered under the scope of the report are application segment and other is distribution segments. Furthermore, the application segment is split into snacks mix, dessert mix and curry mix.Distribution segments include retailers, Kirana shops, online purchase and others. A detailed analysis has been provided for every segment and sub-segment in terms of market size.
As highlighted earlier, ready to mix food market is an aggregation of snacks mix, dessert mix and curry mix. All these sub-segments are included in this section to make the study more comprehensive.
The next section of the report highlights ready to mix food market adoption by the distribution. It provides a market outlook for 2014–2018 and sets the forecast within the context of the India ready to mix food market to build a complete picture at the country level. This study discusses the key trends contributing to the growth of the ready to mix food market on a country wise basis, as well as analyses the degree at which drivers are influencing this market in each category.
All the above sections, by application and distribution, evaluate the present scenario and the growth prospects of the ready to mix food market for the period 2014 –2020. We have considered 2014 as the base year and provided data for the trailing 12 months.
In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the ready to mix food market.
As previously highlighted, the ready to mix food market is split into a number of subcategories. All the ready to mix food sub-categories in terms of application, verticals, distribution are analysed to understand individual segments’ relative contributions to market growth. This detailed level of information is important for the identification of various key trends of ready to mix food market.
Also, another key feature of this report is the analysis of all key ready to mix food segments, sub-segments, verticals revenue forecast in terms of the absolute dollar. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the ready to mix food market.
Furthermore, to understand key growth segments in terms of growth & adoption of ready to mix food market, Future Market Insights developed the India Ready to Mix food Market Attractiveness Index. The resulting index should help providers identify real market opportunities.
In the final section of the report, Ready to Mix food market Competitive landscape is included to provide report audiences with a Dashboard view, based on categories of provider in the value chain, presence in ready to mix food product portfolio and key differentiators. Key categories of providers covered in the report are International players, Indian players and potential players. This section is primarily designed to provide clients with an objective & detailed comparative assessment of key providers specific to a market segment in the ready to mix food market. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on an in-depth assessment of capabilities and success in the Internet of Everything marketplace.
Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the ready to mix food space. Key competitors covered are Mavalli Tiffin Room(MTR), GITS food products Pvt Ltd, Indian Tobacco Company(ITC), Kohinoor Foods and Priya Foods, Priya Foods and Bambino Agro Industries.