Indian Frozen Foods Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
The Indian frozen foods market reached a value of INR 59.7 Billion in 2017. The market is further projected to reach a value of US$ 153.1 Billion by 2023, expanding at a CAGR of around 17% during 2017-2023. The Indian frozen foods market constitutes of frozen vegetable snacks; frozen fruits and vegetables; and frozen meat. These products have been gaining immense traction in India owing to their convenience as they require minimal preparation and culinary expertise to cook. Moreover, frozen food products, especially frozen snacks offer enhanced palatability as compared to their home-cooked counterparts. Another reason for the rising demand of frozen foods in India is the fact that these products offer year-round availability regardless of the season.
Indian Frozen Foods Market Drivers:
India’s high economic growth along with rising disposable incomes has significantly driven the growth of the market. Moreover, India’s large working-class population is looking for products that offer less meal preparation time and ease of consumption.
Rising urbanization has resulted into the growth of the organized retail sector in India. These modern grocery and food stores are equipped with cold chain facilities which have facilitated the availability of frozen food products in the market.
India’s young population and their changing food habits and lifestyles have significantly driven the demand for frozen food products in India.
India’s booming e-commerce sector has further propelled the growth of the market. Online platforms offer high product visibility and product listing at nominal costs in comparison to traditional retail platforms, thereby facilitating greater market penetration of frozen food products in India.
Based on the region, the market has been segmented into West India, North India, South India and East India. Amongst these, West India accounts for the highest share in the market.
Product Type Insights:
On the basis of product type, the market has been segmented into frozen vegetable snacks; frozen fruits and vegetables; and other frozen meat.
Distribution Channel Insights:
On the basis of distribution channel, the market has been segregated into supermarkets and hypermarkets, convenience stores, online stores, independent retailers and others. Amongst these, supermarkets and hypermarkets currently represent the largest distribution channels.
The competitive landscape of the market has also been examined in the report along with the profiles of key players. Some of the key players operating in the market include Mother Dairy, McCain Foods, V H Group, Al Kabeer Group, Godrej Tyson, etc.
This report provides a deep insight into the Indian frozen foods market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the industry in any manner.
Key Questions Answered in This Report:
How has the Indian frozen foods market has performed so far and how will it perform in the coming years?
Which are the key regions in the Indian frozen foods market?
Which are the various product types in the Indian frozen foods market?
Which are the major distribution channels in the Indian frozen foods market?
What are the various stages in the value chain of the Indian frozen foods market?
What are the key driving factors and challenges in the Indian frozen foods market?
What is the structure of the Indian frozen foods market and who are the key players?
What is the degree of competition in the Indian frozen foods market?