Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
Research 2015-12-14

Packaged food market to reach $50 bn by 2017: Survey

The poll highlighted that 76 per cent parents, mostly both working, with children under five-years in the big cities, are serving easy-to-prepare meals at least 10-12 times per month in some form or the other.

By
Packaged food market to reach $50 bn by 2017: Survey

In the last few years, packaged food market in India has witnessed a good growth. And, citing this growth, the country’s packaged segment is all set to witness a quantum jump to $50 billion by 2017 from $32 billion at present due to increasing popularity of ready-to-eat items, says a survey.

"There has been a major shift in food habits in the metropolitan cities. About 79 per cent of households prefer to have instant food due to steep rise in dual income level, standard of living and convenience," said a survey by industry body Assocham.

The poll highlighted that 76 per cent parents, mostly both working, with children under five-years in the big cities, are serving easy-to-prepare meals at least 10-12 times per month in some form or the other.

"The consumption of packaged food is much higher in the urban areas, especially metros, where life is fast-paced, attracting lot more companies to launch new types of products and variants," Assocham Secretary General D S Rawat said.

The paper also pointed out that there is a large divide between urban, semi-urban and rural consumers. Urban areas account for 80 per cent of the demand for all packaged food.

The survey noted that about 76 per cent nuclear families feel they have less less time to spend in the kitchen, while nearly 79 per cent bachelors prefer convenience food. It is in this background that home delivery business model for cooked food has grown multi-fold, it said.

The main categories of packaged food are bakery products, canned/dried processed food, frozen processed food, ready-to-eat meals, dairy products, diet snacks, processed meat, health products and drinks.

Food manufacturers have also started concentrating on manufacturing new innovative food products and ready-to-eat processed food to keep up with the ever changing tastes of consumers.

Comment
image
image
image
Related opportunities
  • Security Services
    About Us: A GPS tracking unit is a device that uses..
    Locations looking for expansion Delhi
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 50 K - 2lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • About Us: G-TEC EDUCATION is one of the largest networks in..
    Locations looking for expansion Kerala
    Establishment year 2001
    Franchising Launch Date 2001
    Investment size
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type MultiUnit
    Headquater Kozhikode Kerala
  • Sweetshop
    About Us:  SweetSmith was conceived as India’s first dessert boutique, with..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Juices / Smoothies / Dairy parlors
    About Us: Ministry of Thickshakes is posed to be a leading..
    Locations looking for expansion Andhra pradesh
    Establishment year 2017
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Shaikpet Andhra pradesh
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts