The ready-to-eat market in India is poised to experience significant growth of around 45% over the next five years, presenting lucrative investment opportunities in the segment, according to Stanley Goh, CEO of SATS Food Solutions, a Singaporean airport service provider.
Goh highlighted India's culturally diverse market and the increasing demand for higher culinary standards among consumers. He emphasized the potential for growth in categories like ready-to-eat and ready-to-heat meals, as well as convenience foods, attributing it to evolving consumer preferences.
SATS Food Solutions India, the company's subsidiary in India, is set to expand its operations with a new facility at Bengaluru's Kempegowda International Airport. The facility is expected to employ approximately 300 people and will leverage existing partnerships and logistics networks to ensure seamless operations.
Sagar Dighe, CEO of SATS Food Solutions India, emphasized the importance of an efficient ecosystem and access to raw materials for the food industry. He highlighted Bengaluru's strategic location and the company's established network with partners like Tata SATS and Bengaluru Airport as key factors driving the decision to set up the new facility in the city.
The new facility will heavily utilize automation and Internet of Things (IoT) technologies to enhance operational efficiency. Dighe mentioned that the facility has optimized cooking processes to ensure consistency in taste across all locations, with chefs focusing on tasks such as recipe development.
Overall, SATS Food Solutions sees immense growth potential in the Indian ready-to-eat market and aims to leverage its expertise and experience to capitalize on emerging opportunities.
