LazyChef Sales and Manufacturing Partnership Proposal
Present and Near Future Outlook of Ready to Eat Food Market
Globally, the demand for ready-to-eat (RTE) food products has been increasing over the last few years on account of busier lifestyle of consumers and their rising income levels. Due to increased employment opportunities, a large number of people are migrating from tier 1 and tier 2 cities to metropolitans, which is an important driver for RTE food products in the country. Nuclear families and bachelors residing in metros for study or employment purpose are among the major consumers of RTE food products in India. The number of working women is particularly on the rise, which is again driving the demand for RTE food products. All these factors are creating significant awareness about ready meals among consumers. Growth in retail chains and outlets is also adding to the product awareness among consumers in the country. Supermarkets, convenience stores and hypermarkets are emerging as the key points-of-sale offering a wide range RTE food products manufactured in India.
According to “India Ready-to-eat Food Market Forecast & Opportunities, 2019”, the Indian RTE food market is projected to grow at a CAGR of 21.99% during 2014-19, in value terms. Increasing workforce, improving consumer lifestyle, and expanding retail formats are the key drivers buoying growth in RTE food products demand in the country. Northern and western region are the key revenue contributors in the RTE food market, with major demand emanating from cities like Delhi-NCR, Mumbai, Ahmedabad, etc. Segment wise, shelf stable RTE food demand exceeds that of frozen RTE food in the country. This is attributable to the fact that frozen RTE food needs proper refrigeration for maintaining their shelf life.
However, high price of RTE food products is a major factor posing threat as Indian consumers are innately price conscious and their preferences generally change with even slightest change in price. This presents RTE companies with an opportunity to come up with a variety of high-quality RTE food products in affordable price range
Freeze Drying Industry Hurdle’s and LazyChef’s Solution
This biggest hurdle for the Freeze Drying Industry is the Investment Cost. The investment needed based on the Output of the machine makes the Freeze Dried Food expensive and non-competitive with Retort and other Preservation Techniques.
LazyChef has a Solution. We will be providing our partner manufacturers with Freeze Dryers at a fraction of cost via Lease Model where the entrepreneur will save atleast 60% in investment cost which now can be used for Inventory and higher capacity. We have made some strategic partnerships which has made available this technology to us and this makes LazyChef brand poised for growth.