Led by West Region, India Pasta Market to Witness 17% CAGR until 2023
Changing
taste preferences of Indian consumers, increasing demand
for ready-to-eat food products
along with rising per capita disposable income to drive India
pasta market through 2023
According
to a report released by TechSci Research, ‘India
Pasta Market By Product Type, By Shape Type, By Distribution Channel,
Competition, Forecast & Opportunities, 2013 - 2023’, India pasta
market is forecast to register a CAGR of around 17% during 2018 - 2023 on
account of growing demand for pasta, especially from young population, and changing
preferences of Indian consumers along with developing taste for different global
cuisines. Moreover, increasing household disposable income of middle-class
population coupled with rising western
influence is resulting in higher demand for packaged and ready-to-eat food
products, which is consequently expected to propel growth in India pasta market
during forecast period. Region wise, West India is the largest consumer of
pasta in the country owing to large urban population base and rising working
women population. Bambino Agro
Industries Limited, Nestlé India Limited, ITC Limited, Savorit Limited,
FieldFresh Foods Private Limited, MTR Foods Pvt. Ltd., and Borges India Private
Limited, among others are some of the major companies operating in India pasta
market.
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Among product types,
Ready-to-cook Pasta accounts for the majority share in India pasta market and
is expected to remain the dominant segment through forecast period. The advent
of e-commerce industry has created new routes for manufacturers to reach their
customers. Online sales channel has enabled companies to widen their
distribution reach and serve their customers even in the farthest of regions. Further,
rise in the number of tech savvy people coupled with hectic lifestyles,
especially of urban population, is anticipated to boost the sales of pasta
through the online sales channel. Nevertheless, store-based sales channel would
continue to dominate India pasta marker during forecast period.
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“Shift
towards packaged food products is increasing in India owing to rising working
women population and busy-lifestyle of urban population, which is positively
influencing the country’s pasta market. Moreover, pasta manufacturers are
focusing on expansion of their product portfolio and are introducing pastas of
different shapes in the Indian market. Additionally, introduction of pasta
variants made from whole wheat, quinoa and gluten-free ingredients that cater
to the health-conscious customers is further expected to fuel growth in the
coming years. Rural India accounts for majority share in the country’s total
population, and with 80%-85% of pasta consumption being accounted for by urban
India, the rural segment offers enormous growth potential for the pasta players
operating in India.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“India Pasta
Market By Product Type, By Shape Type, By Distribution Channel,
Competition, Forecast & Opportunities, 2013 - 2023” has evaluated the future
growth potential of pasta in India and
provides statistics and information on market structure, size, share and future
growth. The report is intended to provide cutting-edge market intelligence and
help decision makers take sound investment decision. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in India pasta market.
About TechSci Research
TechSci Research
is a leading global market research firm publishing premium market research
reports. Serving 700 global clients with more than 600 premium market research
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employing innovative research solutions and tracking global and country
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market trends.
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