Many manufacturers introduced products positioned on the health and wellness platform in 2009. With consumers becoming increasingly health conscious there was increasing interest in products that were healthier than existing offerings. Advertising and marketing also highlighted the health benefits of new products. Across the different categories of packaged food, domestic and multinational players were increasingly looking at this niche and making efforts to develop it in India.
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Domestic and multinational companies drive growth
The competitive environment in India is dominated by multinational and domestic companies, along with government cooperatives. Some of the leading players in packaged food in India are Hindustan Unilever, Gujarat Co-operative Milk Marketing Federation, Nestlé India Ltd, Frito-Lay India, GlaxoSmithKline Consumer Healthcare Ltd, Britannia Industries Ltd, MTR Foods and Karnataka Cooperative Milk Producers Federation Ltd. Thus, with the Indian market poised to see strong growth in future, domestic players, multinational players and cooperatives are looking to expand their product portfolios and increase their shares.
Supermarkets and hypermarkets increasingly popular
While the majority of Indians still buy their daily groceries from small independent grocers, which are often in or near residential areas, there is an increasing trend of consumers shopping at supermarkets, hypermarkets and convenience stores. This is especially the case in urban areas and metropolitan cities. The comfort and convenience of shopping at these outlets is a major attraction for consumers. The range of products available is a lot greater than in smaller establishments, and consumers can interact with products prior to purchase. These outlets have also increased their presence in these cities and set up outlets in new locations.
Packaged food expected to see healthy growth in future
While consumer spending did see a decline due to the economic recession and consumers were cutting back on spending on products considered luxuries such as packaged food, with the Indian economy in recovery, consumers will once again start using these products more extensively. Packaged food’s key selling point remains the convenience provided to consumers. With the range of packaged food products available in India likely to become wider and awareness of such products expected to increase over the forecast period, it is expected that packaged food will continue to witness healthy growth in the future.
The Packaged Food in India market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Packaged Food in India?
- What are the major brands in India?
- As economic prospects slowly improve, are consumers starting to eat out more and spending less time cooking at home?
- How is private label performing in the wake of retail consolidation and the global economic hangover?
- Do consumers want value for money or added value?
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