India Ready Meals Market Shipment Analysis
India Ready Meals Market registered a decline of -23.23% in value shipments in 2022 as compared to 2021 and an increase of 41.85% CAGR in 2022 over a period of 2017. In Ready Meals Market India is becoming less competitive as HHI index in 2022 was 4857 while in 2017 it was 2035. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on domestic production to meet its growing demand in Ready Meals Market.
India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Ready Meals Market in 2022 was 0.39 while in 2017 it was 0.02. France, Chile, Israel, USA and Australia were among the top players of the market in 2022, where France acquired the largest market share of 67.32% with a shipment value of 1.54 million USD in 2022 France also offered the product below the average market price thus having a competitive advantage over others In 2017 USA had the largest market share of 36.66% with the shipment value of 0.13 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although USA offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the India Ready Meals Market in 2017.
