The history of ready to eat market was not so developed and innovated as in the past the advanced technology did not exist at that time the availability of key players in the market was very few which concluded no extensive competition. Meanwhile, in the current scenario, the market of ready to eat has become more competitive and innovative with the existence of new and upgraded technologies and focused key players. In addition, the Ready to eat or RTE food products are demarcated at that form of animal or plant derived food that can be accessible to the customer after being washed, frozen, processed and cooked. The ready to eat food goods are already prepared and can be utilized only after heating. As such items are convenient for the consumers since it saves both energy and time. In addition, many of the aimed key players in this market are playing an important role by doing more developments in the technologies of product making for acquiring the huge market share and leading the fastest growth across the globe in the forecasted period.
According to the report analysis, ‘Ready-to-Eat Market in India (2018-2023)’ it states that some of the major key players which are recently functioning in this market more actively for acquiring the huge market share by dominating the growing demand of potential buyers with the help of several distribution channels includes ADF Foods Ltd., ITC Ltd., Kohinoor Foods Ltd., Vadilal Industries Ltd., Venky’s India Ltd., Aakriti Foods Pvt. Ltd., Godrej Tyson Foods Ltd., Haldiram Manufacturing Company Pvt. Ltd., Ushodaya Enterprises Pvt. Ltd., MTR Foods Pvt. Ltd., and several others. Moreover, many of the key players are distributing their products by establishing the e-commerce platform which is proved to be beneficial for acquiring the huge market share in the short span time as with this platform a key player can rule across the globe and accomplish the demand of another region consumer.
In India, the concept of ready to eat food was established in 1987 by a Pune based company named Tasty Bites Eatables. The products established initially did not get much attractiveness among the contemporary Indian consumers. While, in the recent few years, the ready to eat food goods have expanded popularity because of a hectic lifestyle, growth in tourism and diversification in the food habits across India. Recently, the ready to eat food goods are deliberated to be the highest sector of the overall food industry encompassing both conventional and non-conventional items. Over time, the ready to eat food in India, especially the vegetables, meat, and cereal-based items have shown significant requirement among the non-resident Indians. In addition, in recent years, the average income level of Indians has been growing which increase the demand for ready to eat food. Therefore, in the near future, it is expected that the market of ready to eat food will grow more actively over the recent few years in India with the effective financial support by the new entrants.
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Ankur Gupta, Head Marketing & Communications