Future Market Insights has announced the addition of the "Ready-to-Eat Food Market: Global Industry Analysis and Opportunity Assessment 2014-2020" report to their offering.
London, UK -- (SBWIRE) -- 04/24/2015 -- Parent Market Analysis
Convenience food doesn't require a lot of preparation and are easy for consumption. Convenience food market comprises of ready to cook and ready to eat products. Among which ready to eat includes frozen foods, chips, bakery items and others. Whereas ready to cook has been further segmented into snacks mix, dessert mix and curry mix. Increased consumer awareness towards ready to mix food in India has changed consumer preferences for food resources which takes less time and energy to prepare. Moreover, shift in consumer preferences for packaged food products is a prime concern for consumers and thus has led to transitions in this market. Additionally, continuous product launches, considering the demand and taste of consumers is expected to support the robust growth for ready to mix food market in near future.
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Ready to Mix Food Market Overview
Ready to Mix food market holds an essential place under convenience food segment owing to its benefits such as less time to prepare, easy consumption and low caloric. Ready to Mix food market is further segmented on the basis of application type and by distribution type.By application type it includes snacks mix, dessert mix and curry mix.
By distribution type it is divided into retailers, kirana shops, online purchase and others. Among the application type, snacks mix are expected to record a higher CAGR as compared to the other ready mixes from 2014 to 2020. However, by application type, curry mix is also expected to witness a substantial growth during the forecast period.
Market Value Forecast
Ready to Mix food markets is estimated to value at US$ 121.7 million in 2014 and expected to reach US$ 284.4 million by 2020, reflecting a CAGR of 15.7% during 2014-2020. In terms of application type, snacks mix expected to have the highest CAGR of 15.9% by the end of 2020, followed by curry mix which is 15.8%.
By application type, it comprises of snacks mix, dessert mix and curry mix. Snacks mix includes dhokla, gobhimanchurian, bhajji and bonda, bhelpuri, idli, dosa. Dessert mix includes gulabjamun mix, kulfikesarbadam, rabri mix, kulfikesarpista, besanladdoo and others and curry mix includes dal makhni, shahipaneer, dal fry, veg kadhai, chana masala, palakpaneer and others. Snack mix is expected to dominant during the forecast period, accounting for 50.99% of the overall market share by 2020. However, curry mix is experiencing a robust growth, registering a CAGR of 15.8% during the forecast period. Among all afore mentioned snacks, dessert and curry segment: snacks mix is predicted to account for largest market, with a CAGR of 15.9% to account for US$ 145.01 million in 2020. This growth is supported by extensive consumer demand coupled with regional taste and preferences of snacks mix products.
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By Distribution Analysis
On the basis of distribution,ready to mix food market includes retailers, kirana shops, online purchase and others.Among all these retailers is expected to be the top segment, which collectively accounted for nearly 49.37% of the market share, followed by Kirana shops, which accounts for 29.09% of market share. Retailers includes wholesalers, department stores, specialty stores and convenience stores.
In terms of CAGR growth, retailers being the recorded the highest growth which is 16.2%,followed by online purchase, which is 15.8% respectively during the forecast period. Market share of kirana shops is 29.09%, followed by online purchase which is 15.04%by 2020.
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