India Ready-To-Cook Market Outlook, 2021
Added: (Mon Oct 30 2017)
Pressbox (Press Release) -
Nestle winning the market share with the comeback of MAGGI noodles, giving a tough fight to its rivals ITC, MTR, HUL and capital foods : Bonafide Research
Nestle has regained market share in the country after it was re-launched following a five month ban in 2015. Nestle Maggi tied up with e-commerce giant Snapdeal to burgeon its sales effectively. Snapdeal launched an exclusive ‘Maggi Welcome Kit’ with a hash tag #SnapdealWelcomesMaggi all over India, which kept on trending for few days. Nestle is also planning to bring back the chicken variant of its popular Maggi noodles on the online portal. Maggie’s instant noodle now consists of two range namely ‘MAGGI 2-Minute Noodles’ like Masala Noodles, Magical Masala, Masala Family Pack, Chicken Noodles, Veg Atta Noodles, Hungrooo Masala and ‘Maggi Cuppa Mania’ like Masala Yo! & Chilly Chow Yo!.
Nestle has been in India since 1912 and its brands like Cerelac, Nescafe, Kit Kat, EveryDay, and Maggi are household names in the country. With the launch of Maggi noodles in India, the company created an entirely new food category called instant noodles in the packaged food market. Maggi is a completely an Indian innovation by Nestle India. Nestle is strengthening its milk products and nutrition portfolio along with expanding coffee and beverages portfolio in the domestic market. The company is sharpening focus on digital media and pushing other products so that all the categories contribute almost equally to the company's total revenue.
According to recently published report of Bonafide Research "India Ready-To-Cook Market Outlook, 2021", ready to cook market is expected to grow with a CAGR of 18.97% over the period of 2016 to 2021. Nestle India is leading with a market share of 49%, along with players like ITC, MTR, HUL, CG Foods, Gits and others. Because of its first-mover advantage, Nestle had successfully managed to retain its leadership position in the instant noodles category. However after the lead controversy, the company's share slipped at a more faster rate. When Nestle received all the clearing certificates and permission from the Indian government, the company started a major drive to make Maggie re-available across India. As a result, its market share started gaining again and to further strengthen it - the company rolled out many innovative marketing strategies. Nestle has joined hands with ecommerce major Amazon India to exclusively sell the newly launched Nutri-Licious range of Maggi noodles. The company had also collaborated with Google and Paytm Mall to roll out new variants of Maggi noodles. According to our survey, retailers are dominating the ready to cook market followed by e-commerce and kirana stores. Southern region has been continuing its dominance in India's RTC market, however, the country’s northern and western region also been witnessing significant surge in demand over the last five years.
Major companies operating in the Ready-To-Cook market of India are Nestle India Limited, Hindustan Unilever Limited, ITC Limited, MTR Foods Pvt. Ltd., Capital Foods Limited, CG Foods (India) Pvt. Ltd., Bambino Agro Industries Ltd., Gits Food Products Pvt. Ltd., Kohinoor Foods Limited, iD Fresh Food (India) Pvt. Ltd., Maiyas Beverages and Foods Pvt. Ltd., Ushodaya Enterprises Pvt. Ltd.
Bonafide Research & Marketing Pvt. Ltd.
Steven Thomas – Sales & Marketing Manager
Telephone: +91-265-2331309/ +91-7878231309