List of Profitable Business Ideas for Ready to Eat, Convenience Food & Processed Food Manufacturing Projects. Snack Foods Production and Packaging Industry.
Production of Ready to Eat Food, RTE Food, Ready to Serve Food, Ready to Cook Food, Convenience Food, No-Cook Food, Packaged Food, Processed Food Products, Snack Foods, Frozen Foods, Shelf-Stable Foods, Instant Foods.
Ready meals in India, growing from a small base of sales, are gaining popularity because of convenience, the availability of offerings providing the authentic taste of Indian dishes and availability across all retail channels. Traditional Indian meals such as poha, upma, biriyani, dal chawal and many others are the most popular and highly consumed dishes which are available in single-portion and family-portion sizes in ready meals formats across retail outlets. These dishes provide alternative meal solutions as they eliminate the hassle of long hours of cooking and the need for cooking aids, thus proving effective for students, the working classes and mainly people who have been skipping meals due to time constraints in their busy work schedules.
Ready to Eat food took its own sweet time to enter the Indian market. Though rising per capita disposable income of consumers, especially upper and lower middle income group, is driving India’s ready-to-eat food market, a large chunk of Indian consumers are still price conscious, which poses a challenge for the ready-to-eat food manufacturers and suppliers. Further minor variation in prices directly affects the preference of brands/products among the Indian consumers.
Increasing workforce, improving consumer lifestyle, and expanding retail formats are the key drivers buoying growth in RTE food products demand in the country. Northern and western region are the key revenue contributors in the RTE food market, with major demand emanating from cities like Delhi-NCR, Mumbai, Ahmedabad, etc. Segment wise, shelf stable RTE food demand exceeds that of frozen RTE food in the country. This is attributable to the fact that frozen RTE food needs proper refrigeration for maintaining their shelf life. However, high price of RTE food products is a major factor posing threat as Indian consumers are innately price conscious and their preferences generally change with even slightest change in price.
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