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Ready-to-cook foods surge 58% as Indian consumers prioritise convenience

Economic Times

Economic Times · 23d ago

Ready-to-cook foods surge 58% as Indian consumers prioritise convenience

The demand for Ready-to-Cook (RTC) meals in India has surged by 58% in 2024, driven by urbanization, dual-income families, and fast-paced lifestyles. According to Kantar Worldpanel data, the RTC segment is the only packaged food category to double in volume over the past two years, attracting 18 million new households. This trend highlights consumers' preference for semi-cooked options that balance convenience with a home-cooked experience, as Ready-to-Eat (RTE) foods see declining interest.

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iD Fresh to ramp up manufacturing capacity for expansion beyond metros

Livemint

Livemint · 1y ago

iD Fresh to ramp up manufacturing capacity for expansion beyond metros

Bengaluru-based convenience foods maker iD Fresh plans to establish four new manufacturing plants in Kerala, Tamil Nadu, West Bengal, and Andhra Pradesh by the end of the fiscal year. The move aims to diversify its reach in smaller cities and tap into the growing demand for quick and hassle-free meals. The company, backed by Premji Invest, already operates four plants in major metro cities and expects tier 2 and tier 3 towns to drive future growth. iD Fresh is also looking to double its business in the next three years and increase its share in the ready-to-cook market.

ITC to buy firms behind frozen food brands Prasuma, Meatigo to beef up portfolio

VCCircle

VCCircle · 5m ago

ITC to buy firms behind frozen food brands Prasuma, Meatigo to beef up portfolio

ITC Ltd plans to acquire frozen food companies Ample Foods Pvt. Ltd and Meat and Spice Pvt. Ltd, aiming to enhance its product portfolio in the rapidly growing frozen and ready-to-cook food market. With a strategic investment of Rs 187 crore, ITC will initially acquire 43.8% of Ample Foods by March 2027 and fully acquire both companies by June 2028. This move aligns with ITC’s strategy to capture emerging consumer demands and strengthen its market presence.

'Online platforms changing buying pattern among urban consumers'

Economic Times

Economic Times · 8m ago

'Online platforms changing buying pattern among urban consumers'

Consumers in metro cities are increasingly shifting from top-up purchases to stock-up purchases on online platforms, according to Kanaka Bhagwat, head of ecommerce at NielsenIQ. Quick commerce and ecommerce sales have grown at a rate of 30% quarter-on-quarter over the past five quarters, driven by convenience and assortment. Ready-to-eat foods, salty snacks, refined edible oils, biscuits, and packaged atta have seen significant growth on quick-commerce channels. FMCG companies like Nestle, ITC, Hindustan Unilever, Dabur, and Emami have reported double-digit growth on quick-commerce platforms. In metro markets, quick-commerce and ecommerce contributed 85% to incremental sales in Q3 2024, signaling the growing dominance of ecommerce.

Kolkata startup makes preservative-free meals ready in 7 minutes

Inshorts · 5m ago

Kolkata startup makes preservative-free meals ready in 7 minutes

Amit Murarka, Shalu Murarka, and Madhu Goel founded Spice Up Foods in 2024, inspired by seeing an Indian enjoy ready-to-eat meals in Switzerland. Their bootstrapped brand employs female cooks and offers preservative-free, authentic Indian ready-to-eat meals that can be made in 7 minutes by adding hot water. They’ve served 15,000+ meals to 2,000 families.

Adani's shopping plans: Three food companies, a billion-dollar wallet

Livemint

Livemint · 10m ago

Adani's shopping plans: Three food companies, a billion-dollar wallet

The Adani group has set aside $1 billion for acquisitions to expand its food and FMCG business in India. The group's FMCG business, Adani Wilmar Ltd, is in talks to purchase three brands in the spices, ready-to-cook foods, and packaged edibles sectors in southern and eastern India. Adani Wilmar, a joint venture between Adani and Wilmar group, plans to make multiple acquisitions in the next few years as part of its growth strategy. The company aims to become the largest food FMCG company in India, leveraging its distribution network and brand equity.

Food-delivery firms saw orders spike to 6.5 million on New Year’s Eve: Redseer report

Economic Times

Economic Times · 1y ago

Food-delivery firms saw orders spike to 6.5 million on New Year’s Eve: Redseer report

According to a report by RedSeer, food delivery firms witnessed a surge in orders on New Year's Eve, reaching 6.5 million. The demand was driven by people opting to stay indoors due to the COVID-19 pandemic. Online food delivery platforms experienced a considerable increase in orders during the festive season, as consumers preferred the convenience and precautiousness of ordering food at home.

iD Fresh turns profitable, clocks 16% rise in FY24 revenue

YourStory

YourStory · 9m ago

iD Fresh turns profitable, clocks 16% rise in FY24 revenue

Packaged foods seller iD Fresh announced its profitability in FY24, with a net profit of Rs 4.56 crore compared to a loss of Rs 32.8 crore in the previous fiscal year. The company saw a 16.3% YoY increase in operating revenue to Rs 557.84 crore, accompanied by a rise in total expenses. iD Fresh's ready-to-cook batters and parotta were its top-selling segments, with respective YoY sales increases of 24% and 10%. The company also plans to expand into the spices market and increase its presence in north India.

83% consumers not happy with convenience fees they pay online: Survey

Economic Times

Economic Times · 1y ago

83% consumers not happy with convenience fees they pay online: Survey

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From Mom's Kitchen to Your Doorstep: Instafood Revolutionizes Ready-to-Cook Meals

VCCircle

VCCircle · 1y ago

From Mom's Kitchen to Your Doorstep: Instafood Revolutionizes Ready-to-Cook Meals

Instafood, an Easy to cook brand, revolutionizes the concept of ready-to-cook meals. Founded in 2021, the company was inspired by a student's struggle to find home-like Indian food abroad. This led to the creation of Instafood, which offers over 25 types of authentic Gujarati cuisine. The brand focuses on preserving food using the natural drying method instead of freeze-drying, ensuring that the meals retain their nutritional value without harmful additives. Instafood aims to encourage healthier cooking habits and provides a menu of vegetarian and Jain options. Learn more at shopinstafood.com.

Apple CEO Tim Cook makes $41 million from biggest stock sale in two years

Economic Times

Economic Times · 1y ago

Apple CEO Tim Cook makes $41 million from biggest stock sale in two years

Apple CEO Tim Cook has made $41 million from selling his company's stock, marking his biggest stock sale in the past two years. Cook sold 333,987 shares of Apple stock at a price ranging from $120.93 to $121.26 per share. This comes as Apple's shares have experienced a surge in value, reaching an all-time high recently. Cook still holds over 1.3 million shares of Apple stock, worth approximately $156 million at the current market price.

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