May 13,2022 | Food
The demand for processed food is driven by the busy lifestyle of consumers and the surge in population of working women in the country. In addition to this, the growing expenditure capacity of consumers to purchase quality products is playing a significant role in influencing the demand for India frozen food market. Also, an increase in demand for convenience food items among the consumers as they require less cooking time and eliminate the need to purchase items for cooking preparations is accelerating the call for frozen food items in the country.
Furthermore, with the growth in the reach of the e-commerce industry in every corner of the country due to high internet penetration and proliferation of smart devices is accelerating the purchase of frozen food items. The India frozen food market stood at US$1204.30 million in FY2021 and is anticipated to grow with a CAGR of 8.00% in the forecast period, to reach US$1841.28 million by FY2027F. The high demand for convenience food items, changing lifestyle, and increasing product innovation are the key factors driving the demand for India frozen food market in the forecast period.
The India frozen food market is segmented into product, distribution channel, company, and regional distribution, by states. Based on product, the market is divided into frozen snacks, frozen meat & seafood, frozen fruits & vegetables, frozen dairy & dessert, and frozen meals. The frozen dairy & dessert segment held a market share of 6.84% in FY2021 and is expected to witness the fastest incremental growth in the forecast period. The increasing importance of healthy food items is due to the rise in health-consciousness among consumers, which in turn are driving the demand for India frozen food market through the forecast period.
McCain Foods (India) Private Limited, Godrej Tyson Foods Limited (Real Good Chicken and Yummiez), Innovative Foods Limited (Sumeru), Venky’s (India) Limited (Venky’s), Mother Dairy Fruit & Vegetable Private Limited (Safal), ITC Limited (ITC Master Chef), Hyfun Frozen Foods Pvt. Ltd. (HyFun), Top Fresh International Private Limited, DARSHAN FOODS PVT. LTD. (Meatzza), Swadhika Foods LLP, etc., are the major market players operating in India frozen food market.
With regards to the aforementioned topic, the market research analysis offered on Bharatbook is useful in providing answers to several critical questions that are important for the industry stakeholders such as frozen food manufacturing companies, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities. Also, it helps to classify and forecast the market based on product, distribution channel, company, regional distribution, by states, to identify drivers and challenges, to examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc.
To get more insights on the market, please visit India frozen food market.