Ready Meals in India

READY MEALS IN INDIA
Euromonitor International
November 2017
READY MEALS IN INDIA Passport I
LIST OF CONTENTS AND TABLES

Headlines ..................................................................................................................................... 1
Trends .......................................................................................................................................... 1
Competitive Landscape ................................................................................................................ 2
Prospects ..................................................................................................................................... 3
Category Data .............................................................................................................................. 3
Table 1 Sales of Ready Meals by Category: Volume 2012-2017 .............................. 3
Table 2 Sales of Ready Meals by Category: Value 2012-2017 ................................. 4
Table 3 Sales of Ready Meals by Category: % Volume Growth 2012-2017 ............. 4
Table 4 Sales of Ready Meals by Category: % Value Growth 2012-2017 ................ 4
Table 5 Sales of Frozen Ready Meals by Ethnicity: % Value 2012-2017.................. 5
Table 6 NBO Company Shares of Ready Meals: % Value 2013-2017...................... 5
Table 7 LBN Brand Shares of Ready Meals: % Value 2014-2017 ............................ 5
Table 8 Distribution of Ready Meals by Format: % Value 2012-2017 ....................... 6
Table 9 Forecast Sales of Ready Meals by Category: Volume 2017-2022 ............... 6
Table 10 Forecast Sales of Ready Meals by Category: Value 2017-2022 .................. 7
Table 11 Forecast Sales of Ready Meals by Category: % Volume Growth
2017-2022 .................................................................................................... 7
Table 12 Forecast Sales of Ready Meals by Category: % Value Growth 2017-
2022 ............................................................................................................. 7
© Euromonitor International
READY MEALS IN INDIA Passport 1
READY MEALS IN INDIA

HEADLINES
 Ready meals grows by 16% in current value terms to reach INR20.4 billion in 2017
 Convenience, quick format of traditional Indian cuisine, authentic taste, variety and portion
sizes are the main factors driving category growth
 Frozen ready meals continues to post fastest growth in current value terms in 2017, with 16%
 Average unit price of ready meals grows by 3% in 2017 in current value terms
 McCain Foods India Pvt Ltd leads the category with 27% value share in 2017
 The category is expected to post a 6% CAGR over the forecast period at constant 2017 prices
TRENDS
 Ready meals in India, growing from a small base of sales, are gaining popularity because of
convenience, the availability of offerings providing the authentic taste of Indian dishes and
availability across all retail channels. Traditional Indian meals such as poha, upma, biriyani,
dal chawal and many others are the most popular and highly consumed dishes which are
available in single-portion and family-portion sizes in ready meals formats across retail
outlets. These dishes provide alternative meal solutions as they eliminate the hassle of long
hours of cooking and the need for cooking aids, thus proving effective for students, the
working classes and mainly people who have been skipping meals due to time constraints in
their busy work schedules.
 The category posted growth of 16% in current value terms in 2017, which is slightly lower than
the review period average for 2012-2017. This is mainly due to the evolution of the category
over the years which saw high growth rates following the launch of such products in India, and
has now normalised, growing at a constant pace. However, the category is still niche and it is
available mainly in urban regions, but has huge scope to expand to second- and third-tier
cities. With constant trial and error from companies such as MTR Foods India Ltd and ITC Ltd
to expand the range of dishes and consumers trying new products the category has
considerable potential for growth.
 Frozen ready meals grew at 16% in 2017 in current value terms. Improvement in storage
facilities at retail outlets with freezers available at most traditional Indian grocers has provided
the opportunity for lengthy storage and higher penetration of products. Hence, products such
as frozen spring rolls and sandwiches that simply require heating in an oven, on a pan or
even frying in oil have become popular meals for many young consumers, moreover they are
available in both vegetarian and non-vegetarian formats.
 Demand for frozen ready meals exceeds the demand for dried ready meals, since the former
products contain a high moisture content, which retains the texture of the food, and mainly
due to the variety of products available in the frozen format. However, dried ready meals are
gaining prominence due to the time to prepare by heating and also the convenience of
consumption while travelling due to the product packaging which is appropriate and non-
messy for such usage.
 Average unit price for the category increased by 3% in current value terms in 2017, due
mainly to the increase in packaging costs of the products which was pushed onto the end
consumers. Since the category is in the early stage of its lifecycle, companies are not
increasing the prices of products but paying attention to taste, quality and hygiene, which
could all be provided by better packaging techniques.
 Indian consumers still prefer traditional Indian dishes over other international cuisines, which
is also the case for ready meals. However, international cuisines such as frozen sausages,
spring rolls and other such products are gaining popularity among consumers, influenced by
dining out at consumer foodservice establishments.
 Independent small grocers, with a 74% retail value share in 2017, remains the most preferred
channel for the purchase of ready meals in India due to its large presence across the country.
However, hypermarkets and supermarkets are expanding in different regions providing
consumers an opportunity to choose from a wide range of products.
COMPETITIVE LANDSCAPE
 McCain Foods India Pvt Ltd is the leader in ready meals in 2017 with a 27% share in current
value terms. Most of its products are available in the frozen format of ready meals such as
mini samosas, vegetable nuggets and similar products, which are enjoyed by children as
young mothers simply heat the food and offer it to them as an evening snack or as a complete
meal for supper occasionally.
 Capital Foods Ltd’s share increased by 1.4 percentage points in 2017 in current value terms.
The company under its brand Ching’s offers sandwiches, spring rolls and similar products and
has been expanding its product portfolio in frozen ready meals. The company is also engaged
in many in-store promotional activities such as offering free samples and “buy one and get
one” offers to attract consumers during their store visits.
 MTR Foods Ltd with its many TV advertising campaigns has been promoting its wide range of
breakfast products such as upma, poha, vegetable pulav and similar products which has
proven successful for the company. Further to this, the company has utilised its distribution
channels to stock its products at all retail outlets and ensured its products are available at
different portion sizes to meet the needs of consumers.
 In 2017, domestic companies will contribute close to 71% of ready meals retail value sales in
India compared to international counterparts. Indian companies such as Capital Foods Ltd,
MTR Foods Ltd and ITC Ltd have many decades of experience in catering to the needs of
consumers by understanding the taste palates across various regions in India, which gives
them a competitive advantage over other international players.
 MTR Foods Ltd in April 2017 launched a breakfast range of products called the “MTR 3
Minute Breakfast”. The products are available in six dishes such as poha, khatta meetha
poha, vegetable upma, magic masala upma, oats homestyle masala and kesari halwa, which
are priced at INR20 for a single-portion size and INR80-85 for multiple-portion sizes.
 The products from MTR Foods Ltd are available in cup-shaped thin wall plastic containers
with an aluminium/plastic thin foil closure which can be peeled off and has a plastic closure on
the top. Although this type of packaging has existed for some time, it is the first time it has
been implemented in the ready meals category.
 Most of the products available are either standard or economically priced since these are
convenience products and not focused on indulgence or experience. However, due to rise in
healthy living and desire for new varieties of cuisines, there is scope for premium varieties of
products to be made available in India.
PROSPECTS
 Increase in ready meals options, portion sizes of ready meals, availability across various retail
channels and convenience of consuming ready meals while commuting are expected to drive
category growth over the forecast period. The popularity of these products is mainly due to
convenience, as it involves simply heating the product before it is consumed and also due to
the fact that these products come in easily usable packaging that can be carried around for
consumption and dispensed once empty.
 Ready meals is expected to post a 6% CAGR at constant 2017 prices over the forecast period
to reach INR26.9 billion by 2022. Understanding the needs of consumers, many new regional
players such as Capricorn Food Products India Ltd and Melting Foods India Ltd have entered
the category, with product expansion and increased penetration by existing players such as
MTR Foods Ltd, ITC Ltd and others will support category growth over the forecast period.
 Dried ready meals is expected to overtake the growth of frozen and shelf stable ready meals,
with an expected 6% CAGR at constant 2017 prices over the forecast period. The variety of
meal options available in the dried format and the feasibility of on-the-go consumption will
prove an effective strategy for category growth compared to other formats of ready meals.
 Unit prices of ready meals are expected to decline over the forecast period due to the
increased entry of regional players challenging the existing brands offering regional-specific
tastes and products, and this will have a cascading effect on the overall drop in the average
unit price of the category.
 Companies such as Capricorn Food Products India Ltd and Melting Foods India Ltd have
started promoting their products at trade fairs, retail outlets, malls and public gatherings by
providing their products for the public. Such activities have shown positive signs for growth of
their respective brands and have slowly entered the category over the years.
 Products such as vegetable biryani and dal chawal, a typical Indian cuisine, were launched in
2016 and 2017 and have been well received by consumers. This is evident from the fact that
such products are selling out in many retail outlets in urban regions and demand for ready
meals has been growing. Further to this, many new players have started to enter the category
in 2017.
CATEGORY DATA
Table 1 Sales of Ready Meals by Category: Volume 2012-2017
'000 tonnes
2012 2013 2014 2015 2016 2017
Shelf Stable Ready Meals 8.6 10.1 11.8 13.7 15.5 17.6
Chilled Lunch Kits - - - - - -
Chilled Pizza - - - - - -
Chilled Ready Meals - - - - - -
Dinner Mixes - - - - - -
Dried Ready Meals 7.1 8.8 10.5 12.0 13.4 15.2
Frozen Pizza - - - - - -
Frozen Ready Meals 20.4 24.3 28.6 32.8 37.1 42.1
Prepared Salads - - - - - -
Ready Meals 36.1 43.2 50.9 58.5 66.0 74.9
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Table 2 Sales of Ready Meals by Category: Value 2012-2017
INR million
2012 2013 2014 2015 2016 2017
Shelf Stable Ready Meals 2,246.9 2,784.3 3,306.5 3,875.6 4,495.3 5,241.6
Dried Ready Meals 1,743.7 2,181.9 2,640.8 3,080.9 3,555.7 4,125.9
Frozen Ready Meals 4,733.0 5,891.0 7,012.0 8,140.0 9,480.0 11,023.0
Ready Meals 8,723.7 10,857.1 12,959.3 15,096.4 17,531.0 20,390.5
Table 3 Sales of Ready Meals by Category: % Volume Growth 2012-2017
% volume growth
2016/17 2012-17 CAGR 2012/17 Total
Shelf Stable Ready Meals 13.8 15.4 104.5

Chilled Lunch Kits - - -
Chilled Pizza - - -
Chilled Ready Meals - - -
Dinner Mixes - - -
Dried Ready Meals 13.3 16.3 112.6
Frozen Pizza - - -
Frozen Ready Meals 13.3 15.6 106.4
Prepared Salads - - -
Ready Meals 13.4 15.7 107.2
Table 4 Sales of Ready Meals by Category: % Value Growth 2012-2017
% current value growth

2016/17 2012-17 CAGR 2012/17 Total

Chilled Pizza - - -
Dinner Mixes - - -
Frozen Pizza - - -
Ready Meals 16.3 18.5 133.7
Table 5 Sales of Frozen Ready Meals by Ethnicity: % Value 2012-2017
% retail value rsp

2012 2013 2014 2015 2016 2017
Indian 95.0 94.0 93.0 94.0 95.0 96.0

Other Ethnicities 5.0 6.0 7.0 6.0 5.0 4.0
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 6 NBO Company Shares of Ready Meals: % Value 2013-2017
% retail value rsp

Company 2013 2014 2015 2016 2017
McCain Foods India Pvt 26.3 25.8 26.3 26.6 26.7

Ltd
Capital Foods Ltd 11.1 11.5 12.1 12.7 14.1
MTR Foods Ltd 10.3 11.3 11.2 11.2 11.4
ITC Ltd 6.8 7.5 8.8 8.8 8.8
Gits Food Products Pvt 5.2 5.6 5.7 5.8 5.8
Ltd
Bambino Agro Industries 2.1 2.2 2.1 2.0 2.0
Ltd
Kohinoor Speciality 5.8 12.3 11.2 4.8 1.7
Foods India Pvt Ltd
Al Kabeer Exports Pvt Ltd 2.6 2.3 1.8 1.5 1.2
Venky's India Ltd 3.0 2.5 1.7 1.2 1.0
Innovative Foods Ltd 0.8 0.9 0.9 0.9 0.9
Merino Group 2.8 2.6 1.7 1.2 0.9
Kohinoor Foods Ltd 1.0 0.9 0.9 0.8 0.8
Vadilal Industries Ltd 0.9 0.7 0.6 0.6 0.5
Others 21.3 14.0 15.0 21.8 24.1
Total 100.0 100.0 100.0 100.0 100.0
Table 7 LBN Brand Shares of Ready Meals: % Value 2014-2017
% retail value rsp

Brand (GBO) Company (NBO) 2014 2015 2016 2017
McCain (McCain McCain Foods India Pvt 25.8 26.3 26.6 26.7
Foods Ltd) Ltd
Chings Capital Foods Ltd 11.5 12.1 12.7 14.1
MTR (Orkla Group) MTR Foods Ltd 11.2 11.2 11.2 11.4
Gits Ready To Eat Gits Food Products Pvt Ltd 5.6 5.7 5.8 5.8
Aashirvaad (ITC ITC Ltd 3.4 4.8 4.9 4.9
Group)
Sunfeast (ITC Group) ITC Ltd 2.9 2.8 2.8 2.8
Bambino Bambino Agro Industries 2.2 2.1 2.0 2.0
Ltd
Kohinoor (McCormick Kohinoor Speciality 12.3 11.2 4.8 1.7
& Co Inc) Foods India Pvt Ltd
Al Kabeer Al Kabeer Exports Pvt Ltd 2.3 1.8 1.5 1.2
Kitchens of India ITC Ltd 1.2 1.2 1.1 1.1
(ITC Group)
Venky's Venky's India Ltd 2.5 1.7 1.2 1.0
Sumeru Innovative Foods Ltd 0.9 0.9 0.9 0.9
Vegit Merino Group 2.6 1.7 1.2 0.9
Kohinoor (McCormick Kohinoor Foods Ltd 0.9 0.9 0.8 0.8
& Co Inc)
Quick Treat Vadilal Industries Ltd 0.7 0.6 0.6 0.5
Kohinoor Kohinoor Foods Ltd - - - -
Others Others 14.0 15.1 21.8 24.2
Total Total 100.0 100.0 100.0 100.0
Table 8 Distribution of Ready Meals by Format: % Value 2012-2017
% retail value rsp

2012 2013 2014 2015 2016 2017
Store-Based Retailing 99.9 99.9 99.9 99.9 99.9 99.9

- Grocery Retailers 99.9 99.9 99.9 99.9 99.9 99.9
-- Modern Grocery 22.2 22.5 22.5 22.6 22.7 23.0
Retailers
--- Convenience Stores 0.2 0.2 0.2 0.2 0.2 0.3
--- Discounters - - - - - -
--- Forecourt Retailers - - - - - -
--- Hypermarkets 15.2 15.5 15.5 15.6 15.6 15.9
--- Supermarkets 6.7 6.8 6.8 6.8 6.9 6.9
-- Traditional Grocery 77.8 77.5 77.4 77.3 77.3 76.9
Retailers
--- Food/drink/tobacco 2.5 2.5 2.6 2.6 2.7 2.7
specialists
--- Independent Small 75.3 75.0 74.8 74.7 74.6 74.2
Grocers
--- Other Grocery - - - - - -
Retailers
- Non-Grocery Specialists - - - - - -
-- Health and Beauty - - - - - -
Specialist Retailers
-- Other Foods Non- - - - - - -
Grocery Specialists
- Mixed Retailers - - - - - -
Non-Store Retailing 0.1 0.1 0.1 0.1 0.1 0.1
- Vending - - - - - -
- Homeshopping - - - - - -
- Internet Retailing 0.1 0.1 0.1 0.1 0.1 0.1
- Direct Selling - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 9 Forecast Sales of Ready Meals by Category: Volume 2017-2022
'000 tonnes
2017 2018 2019 2020 2021 2022
Shelf Stable Ready Meals 17.6 19.3 21.1 22.9 24.9 26.9
Dried Ready Meals 15.2 16.7 18.3 20.0 21.8 23.8
Frozen Ready Meals 42.1 45.7 49.6 53.8 58.3 63.0
Ready Meals 74.9 81.8 89.0 96.7 105.0 113.7
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Table 10 Forecast Sales of Ready Meals by Category: Value 2017-2022
INR million
2017 2018 2019 2020 2021 2022
Shelf Stable Ready Meals 5,241.6 5,587.6 5,941.1 6,290.4 6,620.3 6,941.7
Dried Ready Meals 4,125.9 4,421.0 4,707.9 4,998.2 5,300.7 5,603.6
Frozen Ready Meals 11,023.0 11,678.2 12,331.5 12,981.3 13,642.3 14,304.7
Ready Meals 20,390.5 21,686.8 22,980.5 24,269.8 25,563.3 26,850.0
trade sources
Table 11 Forecast Sales of Ready Meals by Category: % Volume Growth 2017-2022
% volume growth
2017/18 2017-22 CAGR 2017/22 Total

Chilled Pizza - - -
Dinner Mixes - - -
Frozen Pizza - - -
Ready Meals 9.2 8.7 51.9
trade sources
Table 12 Forecast Sales of Ready Meals by Category: % Value Growth 2017-2022
% constant value growth

2017/2018 2017-22 CAGR 2017/22 Total

Chilled Pizza - - -

Dinner Mixes - - -
Frozen Pizza - - -
Ready Meals 6.4 5.7 31.7
trade sources

Ready Meals in India

Încărcat de

Informații document

Drepturi de autor

Formate disponibile

Partajați acest document

Partajați sau inserați document

Opțiuni de partajare

Vi se pare util acest document?

Este necorespunzător acest conținut?

Drepturi de autor:

Formate disponibile

Ready Meals in India

Încărcat de

Drepturi de autor:

Formate disponibile

READY MEALS IN INDIA

LIST OF CONTENTS AND TABLES

READY MEALS IN INDIA

Table 2 Sales of Ready Meals by Category: Value 2012-2017

Table 3 Sales of Ready Meals by Category: % Volume Growth 2012-2017

Shelf Stable Ready Meals 13.8 15.4 104.5

Table 4 Sales of Ready Meals by Category: % Value Growth 2012-2017

% current value growth

Shelf Stable Ready Meals 16.6 18.5 133.3

Table 5 Sales of Frozen Ready Meals by Ethnicity: % Value 2012-2017

% retail value rsp

Indian 95.0 94.0 93.0 94.0 95.0 96.0

Table 6 NBO Company Shares of Ready Meals: % Value 2013-2017

% retail value rsp

McCain Foods India Pvt 26.3 25.8 26.3 26.6 26.7

Table 7 LBN Brand Shares of Ready Meals: % Value 2014-2017

% retail value rsp

Table 8 Distribution of Ready Meals by Format: % Value 2012-2017

% retail value rsp

Store-Based Retailing 99.9 99.9 99.9 99.9 99.9 99.9

Table 9 Forecast Sales of Ready Meals by Category: Volume 2017-2022

Table 10 Forecast Sales of Ready Meals by Category: Value 2017-2022

Table 11 Forecast Sales of Ready Meals by Category: % Volume Growth 2017-2022

Shelf Stable Ready Meals 9.4 8.8 52.6

Table 12 Forecast Sales of Ready Meals by Category: % Value Growth 2017-2022

% constant value growth

Shelf Stable Ready Meals 6.6 5.8 32.4

Chilled Ready Meals - - -

S-ar putea să vă placă și