The ecosystem of food market
Before we get to the trend part of the market, you would be glad to know that apnacake.com is right in the middle of the action as a platform promoting healthy bakery products and the makers – the home bakers in India. We encourage homemade, fresh from oven cakes to add glamour to your celebration. Apnacake wish to connect customer at every locality and neighborhood by bringing independent sugar crafters and cake makers on the apnacake platform.
A new FICCI-PWC report, ‘The changing landscape of the retail food service industry’ identifies ‘health and wellness’ as one of the factors driving the Indian food services industry, which totaled Rs 3,37,500 crore in 2017. The food services business is expected to grow to Rs 5,52,000 crore by 2022.
- Customers are ready to pay for healthy food consumption
Both national and international packaged food brands are working very closely to study the ‘ working millennial’ food habits. They have had set up Innovation engines to offer the aware and conscious working class, the healthy foods.There is a demand for health, wellness and nutrition-specific foods, and these brands are addressing the market.
- Customer want fresh and they want it now!
Brands are investing heavily on technology and operations at local level. They are targeting the ready-to-eat-fresh food market. Demand is driven by quality and quickly available foods, so the food companies are investing on integrated manufacturing and logistic facilities near to consumer to ensure proximity to markets.
- Name it anything but it should be home made
Interestingly, we see many local brands offering traditional homemade foods. They are in form of small kitchen type restaurants, quick service restaurants (QSR) which have created a steady demand in pockets for the urban souls. They are operating a profitable business models, and few are offering franchise rights. Also, the cake and bakery market do have a huge home baked product demand. The demand for home bakers is swelling in urban markets. As per many home bakers we interviewed, the demand for homemade cakes is high. Customers always look for customized cakes, and home bakers are catering that demand at hyper local level. It is very lucrative once you understand the trending taste buds. Technology is also making it easy for home bakers to reach the customers via Facebook, websites and WhatsApp. It is very competitive yet profitable. Many home bakers have left their corporate jobs to become full-time home bakers!
Some of the well-known brands of this markets are:
ITC Foods, Nesle, MTR Foods, Licious, etc.