New Delhi, Oct 1 Convenience foods, also popularly called ready-to-eat food, have emerged as a boon during crisis. Conceptually, ready-to-eat food is pre-cleaned, pre-cooked and packed for consumers to consume directly without any prior preparation or long hours of cooking. Interestingly, the industry has expanded exponentially over the past few years and made its way into different segments such as canned, fast, frozen, dry, instant and preserved food, among others.
Ready-to-eat food has always existed and been in high demand in the West. However, the concept took a little longer to get accepted in the Indian markets, primarily due to prejudices that ready-to-eat meals were best suited to defence people, trekkers, hikers, disaster victims, hunters, and anyone and everyone that needed food quickly and on the travel lines. But in recent years, owing to the impact of globalisation, there has been a dramatic shift in the consumption patterns of Indian consumers. The ready-to-eat food industry in India has grown significantly in recent years, mainly because of an increase in nuclear families and a rise in gross family income.
A report by Technavio highlighted that the ready-to-eat food industry in India is likely to grow by $751.43 million from 2021 to 2026. The industry is anticipated to accelerate at a CAGR of 18.63 per cent during this period, with Y-o-Y growth predicted at 15.09 per cent [1][2][3]. In global comparison, India ranks third after China
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