AI Driven Market Transformation, India's Frozen Food Sector to Grow by USD 2.4 Billion (2024-2028) Amid Rising Demand for Convenience - Technavio Report

NEW YORK, Sept. 13, 2024 /PRNewswire/ -- Report with the AI impact on market trends- The global frozen food market in India size is estimated to grow by USD 2.4 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 18.52% during the forecast period. Growing desire for convenience is driving market growth, with a trend towards expanding organized retail landscape. However, distribution challenges poses a challenge. Key market players include Ajinomoto Co. Inc., Apex Frozen Foods Ltd., Associated British Foods Plc, Capricorn Food Products India Ltd., Conagra Brands Inc., Corporativo Bimbo SA de CV, DARSHAN FOODS PVT. LTD., Frozen Tropicals Pvt. Ltd., General Mills Inc., Godrej Agrovet Ltd., HyFunFoods Pvt. Ltd., Innovative Foods Ltd., ITC Ltd., McCain Foods Ltd., Mother Dairy Fruit and Vegetable Pvt. Ltd., Nestle SA, Savola Group, Top Fresh International Pvt. Ltd., Unilever PLC, and VH Group.

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Key Market Trends Fueling Growth

The retail sector's expansion and the rise of supermarkets, hypermarkets, and specialty stores are driving trends in India's frozen food market. Organized retailers sell a range of frozen products, including ready meals, fruits, vegetables, meat, and poultry. Consumers value convenience and affordability, which organized retailers offer by stocking a diverse assortment of products under one roof. This shift in shopping patterns increases the significance of organized retailers for market players, leading to positive growth for the frozen food industry in India. 

The frozen food market in India is witnessing a significant growth due to increasing consumer preference for international ingredients, convenient options, and culinary experiences. Food safety and quality checks are key priorities for both manufacturers and consumers. Snacks, bakery items, cooking ingredients, meals, and dietary preferences are popular categories. Long term storage is a major advantage for frozen fruits and vegetables, potatoes, and non-veg products like fish, chicken, mutton, beef, and pork. Cultural significance and traditional meals continue to drive demand for frozen ready meals. Health-conscious individuals are opting for frozen fruits and veggies, soups, and veg products like peas, mushroom, carrots, beans, and corn. Online retail channels and cold storage facilities are enabling wider access to these products. 

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Market Challenges

• The frozen food market in India faces significant challenges in distribution and cold storage, which may impact its growth during the forecast period. The lack of adequate refrigerated transportation and cold storage facilities across the country can negatively affect the quality of frozen food products, particularly for temperature-sensitive items like fruits and vegetables. These foods require consistent temperatures to prevent spoilage and deterioration. Exposure to temperatures above recommended levels, even for brief periods, can lead to significant damage. Temperature fluctuations can also cause moisture migration and the formation of ice crystals, affecting the product's quality. Cold storage and refrigerated transportation are essential to maintain the quality of frozen foods and prevent temperature fluctuations. The absence of sufficient cold storage warehousing options in certain areas can hinder market growth during the forecast period.
• The Indian frozen food market faces several challenges in gaining widespread acceptance. Convenience is a major factor, as meal planning and quick meal preparation are essential for nuclear families and working women. Preparation time and socioeconomic factors also play a role, as many Indians prefer freshly cooked meals. Cultural factors and traditional reservations towards frozen foods are additional hurdles. Long shelf life and cold storage are crucial for maintaining peak freshness and nutrient content, but infrastructure and cold chain logistics are lacking. Taste, texture, and health concerns are also important considerations for consumers. Frozen pizza, pasta, desserts, vegetable snacks, and meat products are popular categories. E-commerce platforms are making it easier to access year-round, but food waste and food security are concerns. Environmental sustainability and plant-based foods are emerging trends. Overall, taste, hygiene, and minimal cooking skills are key factors influencing consumer choice.

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Segment Overview 

This frozen food market in India report extensively covers market segmentation by

1. Product 
• 1.1 Ready to cook
• 1.2 Ready to eat
2. Distribution Channel
• 2.1 Online
• 2.2 Offline
3. Geography 
• 3.1 APAC

1.1 Ready to cook- Frozen ready-to-cook meals, comprising items like pizza, pasta, croissants, Asian meals, rice bowls, noodle bowls, crispy pancakes, and pies, are complete meals requiring no additional ingredients. Their convenience and time-saving benefits have fueled their popularity. However, concerns over high sulfur content and potential increase in blood pressure are challenges. Consumers' shift towards healthier options has led vendors to introduce nutrient-rich alternatives. The availability of these options is expected to boost the growth of India's frozen food market during the forecast period.

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Research Analysis

The frozen food market in India is witnessing significant growth due to changing lifestyle and dietary habits. With the increasing demand for convenience and year-round access to fresh produce, the market for frozen fruits, vegetables, meat, poultry, seafood, prepared meals, baked goods, and more is expanding. Cold chain infrastructure is crucial for maintaining peak freshness and preventing food spoilage. Online retail platforms have made it easier for consumers to shop for frozen food from the comfort of their homes, making meal prep and cooking quicker and more convenient. Nutritional value, texture, and minimal food waste are key benefits of frozen food. However, concerns over decomposition, bacterial species, and long storage periods can impact consumer perception. Proper handling and storage are essential to ensure food security and maintain nutrient content.

Market Research Overview

The frozen food market in India is witnessing significant growth due to changing lifestyle and dietary habits. With the increasing number of nuclear families, working women, and busy work patterns, the demand for convenient and quick meal options is on the rise. Fruits, vegetables, meat, poultry, seafood, prepared meals, baked goods, and snacks are popular categories in the market. Cold chain infrastructure is essential for maintaining the nutritional content, texture, and peak freshness of these products. However, challenges such as decomposition, bacterial species, and food spoilage remain. Online retail platforms are revolutionizing grocery shopping, offering year-round access to seasonal products and international ingredients. Environmental sustainability and health and wellness are key considerations for consumers, driving demand for plant-based foods and health-conscious options. Shelf life, cold storage, and food safety are crucial factors in the market, with quality checks and e-commerce platforms ensuring the delivery of hygienic and convenient options. Frozen cooking ingredients, meals, and culinary experiences offer minimal preparation and limited cooking skills requirements, making them popular choices for health-conscious individuals and foodie culture enthusiasts alike.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Ready To Cook
• Ready To Eat
• Distribution Channel
• Online
• Offline
• Geography
• APAC

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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SOURCE Technavio