THE TIME FOR CONVENIENCE FOOD HAS COME

With the growing number of nuclear families where both husband and wife are working, and bachelors who are living away from their families, the Frozen Food category is flourishing, with the expectation to reach Rs 309.07 bn by 2027 from Rs 124.06 bn in 2021. It is the demand of a fast-paced lifestyle where people are seeking homemade convenience food options but don't want to spend hours in the kitchen. It is a good alternative if consumers don't want to eat outside and want to remain sure of what they are actually consuming.

- VAISHNAVI GUPTA

There are numerous trends across the industry - rapid urbanization, migration across the country, changes in lifestyle along with a substantial increase in the need for authentic Indian food in convenient formats that have contributed to the growth rate of the RTE/RTC category.

The Spike in Growth

MTR Foods has been a renowned innovator in the packaged foods space. For instance, its minute range is targeted at millennials and Gen Z who are time-starved and are seeking hyper-convenient solutions.

“RTE and RTC category accounts for nearly half of our business,” said Prerna Tiku, General Manager, MTR Foods. Simultaneously, Suzu Agro Pvt Ltd, a ready-tocook and ready-to-eat food products company, is set to revolutionize the market through a technology-driven, sustainable, and healthy range of ‘AajPakao’ packaged food products. Last year, it generated revenue of Rs 40 lakh and is now expecting to cross Rs 1 crore in sales.

“The demand has surged significantly in the wake of the pandemic, and as awareness about our products and market coverage grows, we will see greater traction. We are also expecting increased demand from TierII and III cities as well as from the Horeca players," stated Aditya Patil, Founder, Suzu Agro Pvt Ltd.