With rising popularity of premium, organic, and plant-based butter, the global butter market is witnessing a dynamic shift in both production and consumption.
Food & Beverages
India’s Ready-To-Cook Market on Track to Surpass 18% CAGR in Five Years
The expansion of the consumer base for instant food, the advantages of organized retail, the rise in dual-income households, and an increasing standard of living, combined with aggressive marketing campaigns, are key drivers of growth in the ready-to-cook (RTC) food market. In today’s fast-paced lifestyle, where time is a valuable resource, ready-to-cook food has become an essential part of daily life. This segment includes four primary categories: instant noodles, instant pasta, instant soup, and ready-to-mix products.
In India, there has been a notable shift in food habits, particularly among metropolitan consumers who are increasingly opting for instant food. The convenience factor has significantly contributed to the growth of the ready-to-cook industry over the past few years. According to Bonafide Research’s report, "India Ready-To-Cook Market Outlook, 2021," the market for ready-to-cook food is expected to grow at a CAGR of more than 18% over the next five years. Among all categories, instant noodles hold the most significant potential for future expansion, primarily due to their affordability, making them accessible to both urban and rural consumers.
Following the success of instant noodles, the instant pasta and soup segments have emerged as new battlegrounds for FMCG companies. These products are marketed as highly nutritious and rich in protein, targeting busy professionals who are willing to pay a premium for both health benefits and convenience. The consumer base for these instant foods is expanding in a manner similar to what was observed with instant noodles. While the noodles market has several competitors, the pasta and soup categories currently have fewer players. However, as multinational companies diversify into these new categories, competition and sales revenue are expected to rise.
Though traditionally perceived as Western foods, noodles, pasta, and soup are gradually gaining wider acceptance in India. Meanwhile, the ready-to-mix category is redefining consumer perceptions by offering products with Indian flavors and cooking styles. This segment has immense growth potential as it eliminates the need for time-consuming traditional cooking methods like grinding, fermenting, and extensive preparation. The convenience factor makes it particularly popular among nuclear families where both spouses work, bachelors seeking alternatives to restaurant food, and individuals lacking the time or expertise for traditional cooking.
Initially, most companies in the ready-to-cook segment focused on exports, but shifting consumer preferences have made the domestic market more attractive. The rise of electronic and print media has also played a crucial role in increasing awareness of RTC products. Marketers are continually exploring ways to appeal to evolving consumer needs, leading to the development of innovative product concepts and packaging formats. Flexible packaging is expected to gain traction due to its cost-effectiveness, space-saving capabilities, and lightweight nature.
Additionally, small restaurants have started incorporating packaged RTC foods into their operations. Although this trend is still in its early stages, it is expected to grow rapidly in the future, further driving market expansion. As manufacturers continue to explore new opportunities and introduce innovative products, the ready-to-cook market in India is poised for significant growth in the coming years.
In India, there has been a notable shift in food habits, particularly among metropolitan consumers who are increasingly opting for instant food. The convenience factor has significantly contributed to the growth of the ready-to-cook industry over the past few years. According to Bonafide Research’s report, "India Ready-To-Cook Market Outlook, 2021," the market for ready-to-cook food is expected to grow at a CAGR of more than 18% over the next five years. Among all categories, instant noodles hold the most significant potential for future expansion, primarily due to their affordability, making them accessible to both urban and rural consumers.
Following the success of instant noodles, the instant pasta and soup segments have emerged as new battlegrounds for FMCG companies. These products are marketed as highly nutritious and rich in protein, targeting busy professionals who are willing to pay a premium for both health benefits and convenience. The consumer base for these instant foods is expanding in a manner similar to what was observed with instant noodles. While the noodles market has several competitors, the pasta and soup categories currently have fewer players. However, as multinational companies diversify into these new categories, competition and sales revenue are expected to rise.
Though traditionally perceived as Western foods, noodles, pasta, and soup are gradually gaining wider acceptance in India. Meanwhile, the ready-to-mix category is redefining consumer perceptions by offering products with Indian flavors and cooking styles. This segment has immense growth potential as it eliminates the need for time-consuming traditional cooking methods like grinding, fermenting, and extensive preparation. The convenience factor makes it particularly popular among nuclear families where both spouses work, bachelors seeking alternatives to restaurant food, and individuals lacking the time or expertise for traditional cooking.
Initially, most companies in the ready-to-cook segment focused on exports, but shifting consumer preferences have made the domestic market more attractive. The rise of electronic and print media has also played a crucial role in increasing awareness of RTC products. Marketers are continually exploring ways to appeal to evolving consumer needs, leading to the development of innovative product concepts and packaging formats. Flexible packaging is expected to gain traction due to its cost-effectiveness, space-saving capabilities, and lightweight nature.
Additionally, small restaurants have started incorporating packaged RTC foods into their operations. Although this trend is still in its early stages, it is expected to grow rapidly in the future, further driving market expansion. As manufacturers continue to explore new opportunities and introduce innovative products, the ready-to-cook market in India is poised for significant growth in the coming years.
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