The momo market in India has been growing rapidly in recent years, with an estimated worth of around Rs. 2,000 crores and a growth rate of around 20-25% per annum.
Note : All information mentioned here are generated automatically by GPT agents and no claims are made about the accuracy .
Top Players in the Market
The following companies have a significant market share: Wow! Momo: This company is a popular chain of momo restaurants in India, with over 300 outlets in the country. They offer a wide variety of momos on their menu, including vegetarian, non-vegetarian, and fusion options. Wow! Momo is the market leader with a 35% market share. Momos Point: This company is another major player in the momo market in India, with a market share of 20%. They offer a variety of momos, including vegetarian and non-vegetarian options. Hunger Strike: This company has a market share of 15% and is known for its traditional Nepalese momos, as well as fusion options like tandoori momos and butter chicken momos. Yo! China: This company has a relatively smaller market share of 10% but is still a significant player in the momo market in India.
Consumer Preferences
Consumer preferences for momos vary across different regions of India. In North India, chicken momos are more popular, while in Northeast India, pork and beef momos are preferred. In addition, vegetarian and paneer momos are also gaining popularity among consumers.
Type of momos sold in the market
Vegetable momos Chicken momos Paneer momos Steamed momos Fried momos New and unique flavors/variations
Potential Growth Opportunities
There are several potential growth opportunities in the momo market in India. These include: Expanding the product portfolio with new flavors and ingredients. Improving packaging to make momos more accessible to consumers. Increasing the availability of momos in smaller towns and cities. Offering fusion momo flavors, regional momo flavors, and/or specialty momo flavors to differentiate from other momo restaurants and attract customers looking for something new.
Frozen Momo Market
The frozen momo market in India is a growing segment of the frozen food market. The Indian frozen food market was valued at USD 1.1 billion in FY2021 and is projected to reach USD 2.6 billion by FY2025, growing at a CAGR of 8.00%
While the market is still at a nascent stage, it is growing fast at 20% – 25% year-on-year Some of the major players in the frozen momo market in India include Wow! Momo, Momo King, and Prasuma.
Conclusion
The momo market in India is a growing market with significant market share held by a few key players. Consumer preferences are varied across different regions of India. By keeping up with consumer preferences and innovating, momo restaurants can continue to grow and thrive in this competitive market.
