India Ready-to-Eat Food Market Synopsis
India Ready-to-Eat Food Market is expected to witness significant growth over the coming years due to an increase in the consumption of ready-to-eat food products such as meat/poultry, instant cereals, and soup & snacks among various age groups. Further, the rise in per-capita income and aggressive advertising campaigns would also boost the demand for ready-to-eat food in the forecast period (2020-2026F).
According to 6Wresearch, India Ready-to-Eat Food Market is anticipated to register growth during 2020-2026. The government of India has come up with the “Indian Retail Industry, 2025” initiative aimed to be the fastest-growing retail market in the world and allow a hundred per cent foreign direct investment in retail brand stores. Thus, the expansion of the hypermarkets/supermarkets due to an increase in investment would create ample opportunities for the ready-to-eat food market in India. The growing food and beverage industry coupled with a busy life schedule is driving the ready-to-eat food industry. Moreover, the surging working population and enhancing the spending power of the population are further propelling the development of the market.
COVID-19 influence on India Ready-to-Eat Food Market
The COVID-19 pandemic has led to an economic slowdown and reduced consumer spending in the ready to eat industry in India. The spread of COVID-19 is expected to hamper the growth of India Ready to Eat Food in the coming years owing to acute food shortage and disturbance in the internal supply chain due to the complete lockdown and suspension of production activities during the lockdown period across the region. However, as the spread of the virus marks a slowdown, India Ready to Eat Food market is expected to gain momentum in the latter part of the year 2020 as production revives.
India Ready-To-Eat Food Market size
India Ready to eat food market is projected to witness optimistic growth during the forecast period 2021-27F on the back of the rising working population where ready-to-eat food items like sandwiches become the idle choice for consumers and are estimated to Instigate ready to eat food consumption in the country. Additionally, the top-selling categories are smoked fish and precooked meat which is been mostly consumed in Kerala and goa underpinned by the rising expatriate population, and tourists visit is expected to proliferate the demand for ready-to-eat food and this driver acts as a growth proliferating factor is estimated to secure the substantial growth of India ready to eat food market in the forthcoming years. Also, the Ready-To-Eat Food Market size in India is estimated to be around USD XXX million. However, the market is expected to grow significantly in the coming years, with a projected CAGR of around XX% during the forecast period.
Key Highlights of the Report:
- India Ready-to-Eat Food Market Share, By Players
- India Ready-to-Eat Food Market Overview on Competitive Benchmarking
- Market Drivers and Restraints
- India Ready-to-Eat Food Market Size & Ready-to-Eat Food Market Forecast of Revenues, Until 2026
- India Ready-to-Eat Food Market Forecast
- India Ready-to-Eat Food Market Trends and Industry Life Cycle
- India Ready-to-Eat Food Market Outlook
- Market Size & Forecast of India Ready-to-Eat Food Market Revenues, By Distribution Channels, Until 2026
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