03-25-2005, 09:37 PM
This is wild.
http://www.washtimes.com/upi-breaking/2005...92524-1421r.htm
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Indians don't like to cook anymore.
By Indrajit Basu
UPI Business Correspondent
Calcutta, India, Mar. 24 (UPI) -- Ready-to-eat Indian curries and food that were unheard of even a few years back are fast emerging as the new magic words in Indians kitchen as the 15-year old globalization effort is bringing rapid changes in the lifestyles of urban Indians. And going by the speed it has grown in recent years, this quick-fix solution is set to bring about a revolution in Indian kitchens.
Over the past two years, the ready to eat packed food market has grown from an almost insignificant number to touch a $20 million in revenues industry in 2004. And, considering the current growth rate, which is over 35 percent a year, revenues of this sector can easily touch $50 million in next 3 years.
"Indian lifestyle is undergoing a huge socio-economic change which is also getting reflected in food habits," said Ravi Naware, divisional chief executive of ITC Foods, a division one of India's largest fast-moving consumer goods company (FMCG) ITC Ltd. "In urban India, where time is more important than money, it is tough to return from office and spend hours on cooking that a typical Indian meals require. Also, there is a lack of skill of the young Indian to be able to cook."
Launched over a decade back in a different form, ready to eat food is not really new to India. But it failed to take off primarily due to a preference for freshly cooked food, and also, as says Naware, "because of the fact that retail outlets in India lacked adequate refrigeration facilities to store food which were available earlier."
However, with the availability of a new technology called Retort -- that packs the cooked food in a 4-layer package, which is then heated to 120 degrees Celsius to kill all living organisms thereby ensuring freshness through its much longer shelf-life -- the ready to eat food concept has become far more acceptable. In addition, say others, all ready-made food makers have started adopting Hazard Analysis Control Point Certification from the British Standard Laboratory, which signifies that factories making such products follow strict food and safety norms.
Nevertheless, the primary driving force behind the growth of ready to eat food is that the Indian mindset towards food is changing. Convenience is now the keyword.
"Ready-made food is not considered as extravagant expense any more," says J. Suresh, CEO and executive director, MTR Foods that claims to be the largest player in the segment with over 65 percent market share. "With disposable income going up, there is more money to spend. Earlier that was considered as a discretionary item but now spending in ready to eat food is a necessity."
In fact according to AC Neilsen ORG MARG, a top market research outfit, it is not just ready to eat food that is growing at a scorching pace; "eating habits are changing rapidly and even fast-food consumption is now a part of everyday life. Almost a third of urban Indians now claim to opt for fast food even for breakfast. Dinner, however, remains the most-preferred occasion for eating fast food", says Sarang Panchal executive director, AC Neilsen.
According to the findings of this latest online survey, urban Indians are amongst the top 10 most-frequent consumers of fast food across the globe. That survey has found that a huge 71 percent of urban Indians consume food from take-away restaurants once a month. Of these, 37 percent of the adult Indian population does so at least once a week. This makes India one of the top 10 countries amongst the 28 surveyed, in terms of frequency of fast-food consumption. "The incidence of fast-food consumption in urban India is also accelerating much faster than most people anticipated," said Panchal.
The results also revealed a more illuminating view attacking the fundamental preconception like "Indians are unlikely to eat anything other than traditional food on a regular basis."
"The growth of India's Food & Beverages market that outpaces the global average growth rate heralds the birth of an Indian palette that is infinitely adaptable, adventurous and untiring," said Sujit Das Munshi director South Asia, AC Nielsen.
But Das Munshi added that it is not just the changing Indian lifestyle that is driving Indians more and more towards ready-made food; "demographically, the pester-power of kids too has spurred sales of fast or impulse foods."
As local brands such as ITC's Aashirwad, and, Kitchens of India, MTR Food, Kohinoor Rice, Tasty Bites, and Currie Classic increasingly crowd the local retail store shelves, industry players add that the growth of ready-made food and curry pastes has also been scorching in overseas markets.
"We are experiencing explosive demand for ready-made Indian food from the overseas markets like U.S., UK Canada and Europe'" said Naware of ITC Foods. "The potential for exports are very good. This demand is not only from the non-resident Indian community but also from the local population who are increasingly getting exposed to Indian cuisine through Indians living there, and also through their travels. In fact I came across a projection recently, which says that by 2020 no American will cook starting from basic ingredients all the way. They will either use ready to cook or ready to eat food."
India exported about $7 million of ready-made Indian food in 2004, which is growing at around 20 percent a year.
The snowballing retail revolution aimed at India's 300 million strong middle class has created a market for imported fast foods as well, say industry players, adding that they see an explosive opportunity for foreign players in the country's fast food segment.
"Down the road, I can see not only pizzas and burgers and fizzy drink but also branded Sushi, Vietnamese soup, Lebanese doner kebabs and Thai food-in-bowls to join our Mughlai and dosas in retail shelves," said Arvind Nair a food industry professional.<!--QuoteEnd--><!--QuoteEEnd-->
http://www.washtimes.com/upi-breaking/2005...92524-1421r.htm
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Indians don't like to cook anymore.
By Indrajit Basu
UPI Business Correspondent
Calcutta, India, Mar. 24 (UPI) -- Ready-to-eat Indian curries and food that were unheard of even a few years back are fast emerging as the new magic words in Indians kitchen as the 15-year old globalization effort is bringing rapid changes in the lifestyles of urban Indians. And going by the speed it has grown in recent years, this quick-fix solution is set to bring about a revolution in Indian kitchens.
Over the past two years, the ready to eat packed food market has grown from an almost insignificant number to touch a $20 million in revenues industry in 2004. And, considering the current growth rate, which is over 35 percent a year, revenues of this sector can easily touch $50 million in next 3 years.
"Indian lifestyle is undergoing a huge socio-economic change which is also getting reflected in food habits," said Ravi Naware, divisional chief executive of ITC Foods, a division one of India's largest fast-moving consumer goods company (FMCG) ITC Ltd. "In urban India, where time is more important than money, it is tough to return from office and spend hours on cooking that a typical Indian meals require. Also, there is a lack of skill of the young Indian to be able to cook."
Launched over a decade back in a different form, ready to eat food is not really new to India. But it failed to take off primarily due to a preference for freshly cooked food, and also, as says Naware, "because of the fact that retail outlets in India lacked adequate refrigeration facilities to store food which were available earlier."
However, with the availability of a new technology called Retort -- that packs the cooked food in a 4-layer package, which is then heated to 120 degrees Celsius to kill all living organisms thereby ensuring freshness through its much longer shelf-life -- the ready to eat food concept has become far more acceptable. In addition, say others, all ready-made food makers have started adopting Hazard Analysis Control Point Certification from the British Standard Laboratory, which signifies that factories making such products follow strict food and safety norms.
Nevertheless, the primary driving force behind the growth of ready to eat food is that the Indian mindset towards food is changing. Convenience is now the keyword.
"Ready-made food is not considered as extravagant expense any more," says J. Suresh, CEO and executive director, MTR Foods that claims to be the largest player in the segment with over 65 percent market share. "With disposable income going up, there is more money to spend. Earlier that was considered as a discretionary item but now spending in ready to eat food is a necessity."
In fact according to AC Neilsen ORG MARG, a top market research outfit, it is not just ready to eat food that is growing at a scorching pace; "eating habits are changing rapidly and even fast-food consumption is now a part of everyday life. Almost a third of urban Indians now claim to opt for fast food even for breakfast. Dinner, however, remains the most-preferred occasion for eating fast food", says Sarang Panchal executive director, AC Neilsen.
According to the findings of this latest online survey, urban Indians are amongst the top 10 most-frequent consumers of fast food across the globe. That survey has found that a huge 71 percent of urban Indians consume food from take-away restaurants once a month. Of these, 37 percent of the adult Indian population does so at least once a week. This makes India one of the top 10 countries amongst the 28 surveyed, in terms of frequency of fast-food consumption. "The incidence of fast-food consumption in urban India is also accelerating much faster than most people anticipated," said Panchal.
The results also revealed a more illuminating view attacking the fundamental preconception like "Indians are unlikely to eat anything other than traditional food on a regular basis."
"The growth of India's Food & Beverages market that outpaces the global average growth rate heralds the birth of an Indian palette that is infinitely adaptable, adventurous and untiring," said Sujit Das Munshi director South Asia, AC Nielsen.
But Das Munshi added that it is not just the changing Indian lifestyle that is driving Indians more and more towards ready-made food; "demographically, the pester-power of kids too has spurred sales of fast or impulse foods."
As local brands such as ITC's Aashirwad, and, Kitchens of India, MTR Food, Kohinoor Rice, Tasty Bites, and Currie Classic increasingly crowd the local retail store shelves, industry players add that the growth of ready-made food and curry pastes has also been scorching in overseas markets.
"We are experiencing explosive demand for ready-made Indian food from the overseas markets like U.S., UK Canada and Europe'" said Naware of ITC Foods. "The potential for exports are very good. This demand is not only from the non-resident Indian community but also from the local population who are increasingly getting exposed to Indian cuisine through Indians living there, and also through their travels. In fact I came across a projection recently, which says that by 2020 no American will cook starting from basic ingredients all the way. They will either use ready to cook or ready to eat food."
India exported about $7 million of ready-made Indian food in 2004, which is growing at around 20 percent a year.
The snowballing retail revolution aimed at India's 300 million strong middle class has created a market for imported fast foods as well, say industry players, adding that they see an explosive opportunity for foreign players in the country's fast food segment.
"Down the road, I can see not only pizzas and burgers and fizzy drink but also branded Sushi, Vietnamese soup, Lebanese doner kebabs and Thai food-in-bowls to join our Mughlai and dosas in retail shelves," said Arvind Nair a food industry professional.<!--QuoteEnd--><!--QuoteEEnd-->