Curry mix will be the next big attraction in the India Ready-To-Mix market: Bonafide Research
More number of products with desi varieties, introduction of innovative products, increase in the numbers of youth and working women, widening Indian retail and the ease of preparation will drive the curry mix growth.
Convenience food is a concept that has been prevalent in the developed world for a long time, while its inception in the Indian market has been recent. With the changing socio-economic pattern of life and the increasing number of working couples, India is witnessing a diet transformation. The process of diet transformation in India can be seen as income induced diet diversification. At the start of the process of faster economic growth, diets are diversifying but maintain predominantly traditional features. Ready to mix is a part of RTC food which requires basic cooking before they are consumed. All the required ingredients are packed in the required proportions, so that they can be easily cooked.
According to recently published report of Bonafide Research “India Ready-To-Mix Market Overview”, ready to mix market was growing between 12-14% CAGR from last five years. Ready to mix market has four segments namely snacks mix, curry mix, dessert mix and others. Others include rice and meals which are still at a nascent stage with handful of players operating in it. Among all the four segments, snacks mix dominates the market but curry mix is growing more robustly in the country. There are more than 60 plus products in the curry mix segment such as Aloo Mutter, Chana Masala, Dal Fry, Dal Makhani, Navratan Kurma, Paneer Butter Masala, Paneer Makhani, Bhindi Masala, Mixed Vegetable Curry, Palak Paneer and Rajma Masala.
North Indian curries capture the curry mix category largely as they are increasingly becoming popular in other parts of the country. Paneer based curries which include Palak Paneer, Mutter Paneer, Paneer Makhani, Paneer Tika Masala etc. are tremendously admired and hence almost all the organized players have these curries in their product portfolio. Dal Makhani and Chana Masala are also well accepted by the Indian consumers. Apart from these vegetarian curries, non-vegetarian curries are also sold by some of the manufacturers. Chicken Curry, Mutton Curry, Kadhai Chicken, Mutton Kolhapuri Masala are some of the products which are sold under the non-vegetarian category. Chicken curry is the most popular among all of them. Egg curry and Goan fish curry are the some of the new and unique variants introduced by Rasoi Magic brand recently. MTR, Gits, ITC (Kitchens of India & Aashirvaad), Rasoi Magic, Priya Foods and Kohinoor Foods are the well-known organized players in this segment along with number of regional players.
Ready mixes like curry products rarely fail to perform, irrespective of the cooking skills of the user which acts as a key driver for the segment. Even a student can prepare delicious traditional North-Indian dishes by following simple steps elucidated in the recipe. However, overseas market is the money spinner for most of the players operating in this industry. But the rapid growth of the retail culture in India; the fact that the shelf life of these foods is at least 12-18 months; the steady increase in urbanization and disposable incomes; an expected increase in the numbers of youth and working women in India, and the widening scope of the Indian retail market will drive the Indian industry towards growth.
Major companies operating in the ready-to-mix market of India are MTR Foods Pvt. Ltd., Gits Food Products Pvt. Ltd., ITC Limited, Kohinoor Foods Limited, iD Fresh Food (India) Pvt. Ltd. and Maiyas Beverages and Foods Pvt. Ltd.
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