Urban India is changing its eating habits. Associated Chambers of Commerce and Industry in India (ASSOCHAM) has found that consumption of instant and processed foods has gained traction. As life gets busier and time shorter, due to convenience, eighty six percent of metro households claim to prefer processed foods.
Packaged food appeals to families
ASSOCHAM's survey, "Ready to eat food in Metropolitan cities" evaluates responses from 3000 households. It concludes that processed foods are particularly popular with families where both parents work.
With 92% of parents claiming to have less time to prepare meals, 85% of parents with children under 5 years of age serve processed foods at least 7-10 times each month.
With this in mind food manufacturers are increasingly focusing on health. Tata Strategic Management Group expects the market for health and wellness foods to achieve compound annual growth rate of 30-35% for the next five years.
Focus on health
With awareness of health issues increasing, and modern living contributing to modern health challenges across major cities, food majors are increasingly developing healthy variants and nutritionally balanced meal solutions.
In the breakfast category, Pepsico's Quaker Oats, supported by its"Good Morning Heart" campaign has experienced 30% annual growth. In response, Kellogg's have launched "Heart to Heart Oats" as they seek to appeal to health conscious mothers.
Further growth expected
ASSOCHAM believe that the consumer-spending rate for processed foods grew at the average rate of 7.6% between 2008 and 2010, they project this will rise to 8.6% through to 2012. In addition, ASSOCHAM expects the food processing industry to experience annual growth of between 40-60% in the next five years.
More choice, less time
With new, innovative and Indianised products on sale. More choice will coincide with less time.
Consumer eating habits and the contents of their shopping baskets are set to change further.
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