Nuffoods Spectrum - July 2022

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Return of 'TV Dinner' Era?
It is increasingly becoming difficult for folks to find enough time to cook a meal at home. Hectic work days and even more busy weekends makes for a perfect recipe to order in or opt for the next best thing - Ready to Cook Fare. This trend is similar to a sudden surge of the concept of 'TV Dinners' (mostly ready to cook frozen peas and meats) in the United States in the 1950s and 1960s. With manufacturers striving their best to dole out nutritious and easy to prepare foods, the market has finessed a steep growth curve. The ready-to-eat (RTE) food market in India is projected to grow by $751.43 million during 2022-2026, progressing at a CAGR of 18.63 per cent. Additionally, India’s export of Ready to Eat (RTE), Ready to Cook (RTC) and Ready to Serve (RTS) food products under the Agricultural and Processed Food Products Export Development Authority (APEDA) basket has registered a significant growth in the last one decade. As a result, both public and private sectors are increasingly diversifying their product portfolio to cater to the growing demand in this category