According to the latest report by IMARC Group, titled "Indian Frozen Foods Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the Indian frozen food market reached a value of INR 144.3 Billion in 2022. Frozen food refers to food products that are pre-cooked and preserved at cold temperatures and kept frozen until used. They consist of frozen snacks, vegetables, meat, fruits, ready-to-eat (RTE) meals and seafood products. Flash freezing and mechanical freezers are two of the most common freezing methods deployed for frozen foods. Frozen foods contain crystalline ice within freeze-concentrated solids that aid in enhancing the shelf life of the products, while retaining and preserving the nutritional value of the item. Apart from this, they offer enhanced portability, sustainability and a wide variety of seasonal products all year round, irrespective of their natural availability. As a result, frozen foods are placed inside a laminated pouch and are packaged through a vacuum before sealing.
Indian Frozen Foods Market Trends:
The increasing popularity of fast-food products across the country is one of the key factors driving the growth of the market. Frozen foods are widely adopted, particularly among the millennial population, and are extensively served in cafes, fast-food chains and restaurants as snacks and side orders. In line with this, the shifting consumer inclination toward RTE and convenience food products due to their busy schedules and hectic lifestyles is also favoring the market growth. This is further supported by rising health consciousness and the shifting inclination of consumers toward frozen food ingredients as they assist in minimizing overall cooking time. Apart from this, the introduction of frozen fruits, vegetables, and poultry made with high-quality exotic ingredients and packaged with sustainable packaging solutions is providing a thrust to the market growth. Additionally, the evolving lifestyles and eating habits of the consumers, along with the rising influence of western food culture are positively impacting the market growth. Other factors, including the growing e-commerce sector, increasing expenditure capacities of consumers and easy availability of a variety of frozen food products across both online and offline retail channels, are anticipated to drive the market further toward growth. On account of the aforementioned factors, the market is anticipated to reach a value of INR 353.3 Billion by 2028, growing at a CAGR of 16% during 2023-2028.
- On the basis of the product type, the market has been classified into frozen vegetable snacks, frozen fruits and vegetables, and frozen meat products. Among these, frozen vegetable snacks hold the largest market share.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include McCain India Pvt Limited, Venky’s (India) Limited, Mother Dairy Fruit and Vegetable, Godrej Tyson Foods Limited, Al Kabeer Group and Innovative Foods (Sumeru).
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