Ready-To-Eat food: The concept of Ready-To-Eat food has been prevalent and popular in western countries for a long time. Foods that are available in ready form, so that they can be eaten hot without any extra cooking, are called ready-to-eat foods. Ready-to-eat foods can be kept in the refrigerator, heated or cooked for a short period of time, and served hot.
Ready-to-eat food market size and growth: The ready-to-eat food market in India was estimated at рей 348.67 million in 2019 and is expected to grow by 18% CAGR by 2024. Leading companies in the ready-to-eat product market include McCain Foods India Pvt Ltd, MTR Foods Pvt Ltd, ITC Limited, Darshan Foods Pvt Ltd, Haldiram Snacks Pvt Ltd, ITC Ltd, Bikanerwale Foods Pvt Ltd, Godrej Tyson Foods Ltd Ltd., and Venkiz India Pvt. Ltd. Most of these companies are focusing on new types of ready-to-eat food products. In addition, the growing number of retail chain outlets, supermarkets, hypermarkets, and convenience stores is having a positive impact on the ready-to-eat food market in India and the local market in India is also becoming a major selling point for ready-to-eat products due to the wide variety of product offerings. The Corona lockdown gave the business an amazing boost. Companies operating in the industry have reported a nearly 30% increase in sales and this trend is expected to continue in the future.
Increasing the quantity of ready-to-eat food: Increasing urbanization has led to busy lifestyles of consumers, increasing disposable income of the middle-class population, changing tastes and preferences of working professionals, shrinking families, increasing number of working women, and better availability of products from producers. Demand and sales of ready-to-eat (RTE) food items are increasing year by year. Similar factors are contributing to the growth of packaged food and ready-to-eat food in India. In addition, online channels have begun to order a wide range of ready-to-eat products from home due to fast delivery options and attractive discounts on prices. E.g., In any good restaurant, Palak Paneer is available at an average price of Rs. 200 / – to Rs. 300 / -, and the quantity is very low. But you can get its ready-to-eat or ready-to-cook packets at a lower price than hotels in the market. Also, nowadays especially in semi-urban and urban areas consumers are willing to pay more for better product quality. The main reason is that due to time constraints, about 80 percent of Indian urban households prefer ready-to-eat food products. About 76 percent of parents in cities, especially both employed, give their children ready-to-eat meals 10 to 12 times a month. With restaurants closed during the Corona period and increased consumer hygiene awareness, ready-to-eat food is a safe and convenient option for young people staying at hostels, traveling, or going on picnics. Similarly, there are some restaurants that cannot prepare all the menus, then they serve the customers by preparing Ready-To-Eat food instantly.
Various business opportunities: People want to eat good food, but due to their busy schedules, they do not have time to cook. So, by doing business in the ready-to-eat food industry, you can establish a large customer base. This can include many business options. You can market a product in a ready-to-eat way. Now available in the market are Pohe, Upma, Kheer, Noodles, Idli, Dosa, Paneer Masala, Paneer Makhni, Palak Paneer, Rajma Masala, Chinese Noodles, Maggi, Various Soups, Nice Masala, Pulao. If you have more capital, you can create your own brand and start your own outlet or take a brand agency or distributor dealership. You can make a good profit by marketing them well.
Capital: If you want to make products under your own brand, you can start your business by investing around Rs. 20 lakhs to 25 lakhs. Or if you want to take a brand agency or distributor dealership, you can start by investing Rs 2 to 3 lakhs.
Do we need help? : Do you want to do business in the ready-to-eat food industry? Need information and guidance about this industry and its business opportunities? Do we need information about the ready-to-eat food production process, essential machinery, marketing, branding, etc., or if you want to take an agency or distributor dealership of other brands? We provide end-to-end guidance for industry building in this area. Our primary counseling fee is Rs. 5000 / -. We promise to do our best to help you build your brand in this industry. Take it one step further.
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