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TATA Group, India’s largest conglomerate will soon enter the market of ready-to-eat foods which is dominated by the likes of ITC, MTR and Patanjali.
Tata Industries, its holding company for new-age businesses will be looking at manufacturing and marketing vegetarian, non-vegetarian, non-alcoholic, carbonated and non-carbonated food products, according to a news source.
“Market opportunities we see are at the intersection of consumer preferences, especially millennials, for recipes in a convenient and quick format. The conventional domestic ready-to-eat market is too small currently to be seen as a standalone market opportunity,” a Tata Industries spokesperson told ET.
The Indian ready-to-eat market has over a dozen existing players, with several more queued up for later, because of the large base of young consumers, a majority of country’s workforce.
Tata Group already exists in foods and beverages industry via its companies like Tata Chemicals and Tata Global Beverages.