Market share of “Ready To Eat and Packaged Foods” products in India
Background: Packaged Food Industry – An overview It is believed that around 30 million Indians – comprising both upper
and middle class – consumepackaged food, which includes ready-to-cook, ready-to-eat and frozen food – in high quantities. This figure is likely to reach 200 million within the next three years. The retail market for frozen food has a potential to grow at a CAGR of 20.5 percent, from Rs.3,650 million to Rs.9,300 million. India’s ready-to-eat food market is projected to grow at a CAGR of around 22 percent till 2020. The frozen food market for food service segment promises an even better opportunity. Estimated to be Rs.6,350 million, it will expand at a CAGR of 26.6 percent to reach Rs 20,600 million In the past five years, the market has grown exponentially at a CAGR of close to 20 percent and the next five years will show a similar or even faster growth. The ...