The desire for convenience items driven by busier lifestyles is consistently giving India's packaged food industry a big boost. Due to the introduction of modern technology, as well as other developments like urbanization, busier lifestyles, a rise in the number of women working, and the growth of nuclear families, Indian cooking methods have seen significant changes in recent years. To save time on meal preparation, people are increasingly turning to ready-to-eat food options. People are becoming more aware of the health and sanitary standards linked with food products due to increased media exposure, literacy rates, and standards of living. Recently, especially in urban and semi-urban areas, there has been a movement in the customers' priorities from price to quality. The consumption of hygienically packaged fortified foods has been replacing openly or loosely offered food goods.
Here is an overview of India’s Packaged food industry directly from the Ken Research exclusive report. Read out to know the exciting trends and future possible opportunities in the market.
1. India is classified as an emerging and developing country (EDC) which is currently experiencing rapid economic development changes leading the country to be one of the largest economies
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2. In the country, there has been a noteworthy change in the eating habit in Metropolitan Cities. Due to the fast-paced life in urban cities, about 79% of the urban people prefer to have ready-to-eat food in their regular meal
3. Due to this, the packaged food market has seen multiple changes in terms of packaging or distribution along with an increasing number of supply-side entities to meet the rising consumption demands
4. Presently, India’s Packaged Food Market is driven by the changed consumer behavior over the years considering healthy substitutes, safety and hygiene, shelf life, and more
5. The market is anticipated to grow owing to the changes in the population growth trends with the rise in working population along with their rising preferences for packaged snacks food
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2. Majority of the companies operate on manual semi- automated technologies and are yet to adopt the modern technologies present in other developed markets
3. High operational costs, growing real estate cost, and food loss along the supply chain are some other major challenges that directly affect the cold chain market in Singapore
Some of the Intelligence Curated by Ken Research in Cold Chain Market Space:
