India Ready-To-Eat (RTE) and Ready-To-Cook (RTC) Food Market to Reach $2,861.3 Million by 2031 | CAGR of 17.6%

The India ready-to-eat (RTE) and ready-to-cook (RTC) food market was valued at $557.6 million in 2021, and is projected to reach $2,861.3 million by 2031, registering a CAGR of 17.6% from 2022 to 2031.

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The companies profiled in the report are Delightful Gourmet Pvt Ltd., Godrej Agrovet Limited, ITC Limited, Just 2 Eat, Orkla ASA, Prabhat Poultry Pvt. Ltd., Tata Consumer Products Limited, Tyson Foods, Inc., Venkys India, and Zorabian Foods.

Rise in nuclear households in India and diminishing culinary skills among the Indian consumers are the factors driving the market growth, however, the industry is facing significant challenges due to sub-optimal market penetration in underdeveloped cities of the country.

Ready-to-eat (RTE) foods are a group of foods that are completely processed before packaging and distribution. These products undergo through various processes such as pre-cleaning, precooking, and pre-mixing before packaging. According to the 2009 US Food Code by Food and Drug Administration (FDA) 2009, RTE foods should be in edible form before packaging for consumption without using any additional steps to achieve food safety. Whereas, ready-to-cook (RTC) foods are generally in raw and marinated form that can be used for direct cooking. These categories are commercially prepared foods developed for the ease of consumption with taste and nutritional benefits.

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The India RTE and RTC food market is segmented on the basis of product, source, and distribution channel. By product, the market is classified into vegetarian and non-vegetarian. By source, it is classified as poultry, lamb, seafood, and veg sources. By distribution channel, it is divided into supermarkets and hypermarkets, convenience stores, online retail, specialty stores, and others. By type, RTE and RTC categories has been considered.

The India RTE and RTC food market is categorized into supermarkets & hypermarkets, specialty stores, convenience stores, online retail, specialty stores, and others. The supermarkets & hypermarkets segment dominated the India RTE and RTC food market in 2021, and the online channels segment is expected to grow at the fastest rate during the India RTE & RTC food forecast period.

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Key Findings Of The Study

On the basis of product, the vegetarian segment is projected to witness highest CAGR of 18.5%, in terms of revenue, during the forecast period.
On the basis of source, the veg sources segment is estimated to register highest CAGR of 18.4% during the forecast period.
On the basis of distribution channel, the online retail segment is expected to grow at the highest CAGR of 19.8% during the forecast period.
Delhi held a major market share of 37% in the India RTE and RTC food market in the 2021.

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This release was published on openPR.