Health, gourmet and convenience space is highly valued by the Indian consumer in today’s fast paced life. This highlights opportunities to existing and new companies across the Indian ready meals industry that is clocking a healthy CAGR of 12.6% (2014-18).
Consumers buy ready to eat meals for three primary reasons: Convenience, health and to seek gourmet alternatives.
Convenience
Indian consumers are wary of prepared meals and mixes largely due to a cultural preference for freshly prepared foods, as well as the fact that there is no standardised taste for any dish – every household has its own preferences in terms of taste and cooking from scratch. While there is growing acceptance of prepared meals, they are considered mostly as a convenient option for when one does not have time or facilities to cook.
Good to Go – Pick Fresh Foods (India), 2014 consists of chicken cubes tossed in a hot and spicy sauce along with vegetables.
Health
Manufacturers are launching products which highlight health claims associated with the goodness of the ingredients. This helps target the time pressed consumer who is looking at healthy options and is willing to pay a premium for it.
Wholesome Basket Nutratwist – WholesomeBasket Enterprises (India), 2014 is gluten free and features the benefits of beet root. This vegetarian product requires just five minutes and three steps to prepare containing no added flavours or colours.
Gourmet
Gourmet foods are increasingly replacing mass market brands on consumers’ shopping lists in urban India as a result of evolving consumer tastes. Retailers have started aiming gourmet products, which also includes imported goods, to middle class consumers as increasing disposable incomes mean many are willing to spend more on higher quality foods.
Chef’s Basket Recipe Kit Olive & Basil Pesto in Whole Wheat Spaghetti with Pine Nuts & Cracked Pepper – Fizzy Foodlabs (India), 2014 is made with fresh authentic ingredients and no artificial preservatives, colours or flavours. It is said to be an easy gateway to explore world foods. The product comes as a ready-to-cook meal in a box, with all of the ingredients individually packed, so that they can be added according to taste preferences.
For more information on Mintel Food and Drink, click here.
