Business

India Frozen Food Market Size and Share Analysis 2023-2028

Renub Research has recently published a report named ” India Frozen Food Market, Size, Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis,” providing a detailed industry analysis that consists of market share insights. In addition, the report comprises competitor and regional research and contemporary extension. India frozen food market shall reach US$ 4.28 Billion by 2028. Frozen foods refer to products subjected to freezing or deep-freezing processes to extend their shelf life and maintain quality. These foods are typically stored at shallow temperatures to prevent the rise of bacteria and other microorganisms, preserving the food’s nutritional content, flavor, and texture. Frozen foods can include various items such as fruits, vegetables, meat, seafood, ready-to-eat meals, desserts, and more. They offer convenience, accessible storage, and the ability to enjoy a variety of foods regardless of seasonal availability.

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As urbanization increases and individuals adopt hectic lifestyles, there is a growing demand for convenient and ready-to-eat food options. Frozen food provides a quick and hassle-free solution for dynamic individuals and families. Moreover, rising disposable incomes have made consumers willing to spend more on convenience and quality food products, including international cuisines, which frozen food offers at affordable prices. In addition, urbanization has led to smaller household sizes and an increase in nuclear families, and frozen food, with its portion-controlled packaging, allows individuals and small families to minimize food wastage and enjoy meals without extensive preparation.

Additionally, the development of a robust cold chain infrastructure, growing awareness about the benefits of frozen food, increasing accessibility through modern retail channels and e-commerce platforms, and the ability to access seasonal produce and a wide variety of food options throughout the year have all contributed to the rise of the frozen food market in India. However, challenges in India frozen food market include maintaining a consistent cold chain, food safety concerns, limited awareness among specific consumer segments, and the preference for fresh homemade food in traditional Indian households.

Staple foods category will keep thriving in India frozen food market

The growth in the staple food category of India frozen food market can be due to convenience and time-saving benefits, extended shelf life, reduced food waste, year-round availability regardless of the season, preservation of nutritional value, increasing awareness and acceptance, improved quality and variety, changing lifestyles and urbanization leading to demand for convenient options, and rising disposable incomes enabling consumers to invest in high-quality and timely food products, including frozen staples.

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Categories – India frozen food Market breakup from 5 Viewpoints:

Staple Foods

Dairy Products and Alternatives

Snacks

Cooking Ingredients

Meals

In 2022, meat was dominant in India frozen food market

The dominant market share of meat in the frozen food industry in India can be because of the strong preference for non-vegetarian food, cultural inclinations towards meat consumption, the convenience and time-saving advantages it offers, its extended shelf life, the assurance of quality and food safety, its year-round availability irrespective of seasonal variations, the growing awareness and acceptance of frozen meat, the evolving lifestyles and urbanization that drive the demand for convenient, ready-to-cook options, and the increasing purchasing power of consumers that enables them to afford convenient and high-quality meat products.

Products – India frozen food Market breakup from 8 Viewpoints:

1. Fruit & Vegetables
2. Non-Veg (Meat & Fish/Seafood)
3. Products (Chicken, Fish, Mutton, Beef, Pork, Others)
4. Potatoes (French Fries, Tikki, Potato Wedges, Potato Bites, Smileys, Others)
5. Frozen Bakery Products (Biscuit & Cookies, Bread & Pizza Dough, Rolls & Pastry, Others)
6. Ready Meals
7. Soup
8. Others

Mutton food products shall see significant growth in India frozen food market

The growth of mutton in India frozen food market can be due to the strong consumer demand for mutton driven by its taste and texture and the convenience and time-saving advantages it provides for meal preparation. Its extended shelf life that ensures availability in areas with limited access to fresh meat, the assurance of quality and food safety achieved through rigorous processing and packaging, its year-round availability irrespective of seasonal fluctuations, the increasing preference for convenient and ready-to-cook meat options due to changing lifestyles and urbanization, and the rising disposable incomes of consumers who are willing to invest in suitable and high-quality meat products, including frozen mutton.

Non-Veg Food Products – India frozen food Market breakup from 6 Viewpoints:

1. Chicken
2. Fish
3. Mutton
4. Beef
5. Pork
6. Others

In future, Corn shall have the highest share in India frozen food market

Corn’s potential growth in India frozen food market is due to its versatility, use as a primary ingredient in various frozen food products and perceived health benefits. Frozen corn saves time and provides convenience for busy consumers, has a longer shelf life, and is available throughout the year, overcoming limited availability and seasonal fluctuations. Growing consumer awareness about frozen corn nutritional value and convenience will drive its growth. Rapid urbanization and changing lifestyles have also influenced the preference for convenient and ready-to-cook food options, making frozen corn products appealing to busy consumers. The introduction of innovative corn-based products by the frozen food industry can also stimulate the growth of the corn segment.

Veg Food Products – India frozen food Market breakup from 2 Viewpoints:

• Peas
• Corn

18-30 age groups shall expand in India frozen food market in the coming years

The 18-30 age group is the fastest growing segment in India frozen food market due to changing lifestyles, urbanization, and exposure to global cuisines, convenience and versatility of frozen food, social media influence, health consciousness, and affordability. With dynamic and fast-paced lifestyles, young adults seek convenient and time-saving options. Urbanization and increased demand for easy-to-prepare meals contribute to their preference for frozen food. Their exposure to global cuisines and willingness to experiment align with the diverse culinary experiences offered by frozen food. Convenience and customization options cater to their preferences. Social media platforms inspire them with innovative products and recipes. Health-conscious young adults appreciate the availability of healthier options in frozen food. Additionally, frozen food is more affordable than dining out, making it attractive for those on a tight budget.

Age-group – India frozen food Market breakup from 4 Viewpoints:

• Under 18
• 18-30
• 30-45
• 45 & above

Supermarkets/Hypermarkets presently rule India frozen food market

Supermarkets and hypermarkets dominate India’s frozen food market due to their wide product range, convenient shopping experience, modern infrastructure, trusted brands, promotions, consumer education, current environment, and changing consumer preferences towards organized retail. They offer diverse frozen food options, one-stop shopping, quality storage facilities, trusted brands, and cost-saving opportunities. In addition, they educate customers, provide an enjoyable shopping experience, and align with evolving consumer preferences.

Distribution channel – India frozen food Market breakup from 4 Viewpoints:

Supermarkets/hypermarkets

Online Retail channels

Convenient Stores

Other

Western region shall have the largest share in India frozen food market

The growth of the Western region in India’s frozen food market can be attributed to urbanization, rising incomes, changing consumer preferences, infrastructure development, exposure to global cuisines, improved supply chain, increased awareness and acceptance of frozen foods, and the growth of the food service industry. Urbanization drives the demand for convenient food options. Rising incomes increase purchasing power. Consumers value convenience and time-saving options. Modern retail format offers a wide variety of frozen food products. Cultural diversity exposes consumers to global cuisines. An improved supply chain ensures availability and quality. Growing awareness leads to increased acceptance. The food service industry utilizes frozen food products for quick preparation.

Region – India frozen food Market breakup from 4 Viewpoints:

1. North Region
2. West Region
3. South Region
4. East Region

Competitive Landscape

In India frozen foods market, notable players include Nestle, ITC Limited, Arya Foods Amba, Hershey’s, Apex frozen foods Ltd., Godrej Agrovet Ltd., Venky’s (India) Ltd., and Conagra Brands.

Company has been covered from 3 Viewpoints:

• Overview
• Recent Developments
• Revenue

Company Analysis:

1. Nestle
2. ITC Limited
3. Arya Foods Amba
4. Hershey’s
5. Apex frozen foods Ltd.,
6. Godrej Agrovet Ltd.,
7. Venky’s (India) Ltd.,
8. Conagra Brands.

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