The ready-to-eat food market is projected to register a CAGR of 4.3% during the forecast period.
The demand for ready-to-eat food products skyrocketed during the COVID-19 pandemic, especially among the consumers that are not fond of cooking food. Additionally, the restaurants restricting services in fear of a rising number of coronavirus cases had insisted consumers cook at home, thereby leading to an increase in the consumption of ready-to-eat products over the medium term.
Instant and precooked foods business is one of the fastest growing foods businesses in India. Foods business is today represented in multiple categories in the market - Staples, Spices, Ready-to-Eat, Snack Foods, Bakery confectionery and the newly introduced Juices Beverages. Among them, instant and precooked foods is a new concept. One with the commitment to the health and safety to the highest levels of quality, safety and hygiene standards in manufacturing processes should start this type of product manufacturing units.