The Tata Strategic Management Group estimates the ready-to-eat food market in India to reach Rs 2,900 crore by 2015, with a penetration in 25 million households. The current RTE market is low at Rs 128 crore, with the packaged food industry accounting for only six per cent of the national food market, according to the study.
Mr Pankaj Gupta, Practise Head, Consumer and Retail, said ``But as convenience becomes the goal for households, with an increase in the number of urban population, working women and income levels, RTE has become the fastest growing sub-segment in the packaged food category.`` The study reveals that frozen RTE is the largest selling segment, with chilled segment being the fastest growing in the global market, while the dried ready meal segments are non-existent in India.
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| Posted : 10/23/2007 |
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