(Food-Beverage-News.Com, April 16, 2021 ) Years ago, India was known for only French fries and basic frozen vegetables. But in the span of 5 to 10 years frozen food industry in India has completely revolutionized. With the evolution of Modern retail outlets like Food Bazaar, DMart, Spencers, and online grocery stores like Big Basket, Groffers frozen food industry in India is witnessing positive growth. According to Renub Research, India Frozen Food Market is expected to continue its growth trajectory in the forecast period, and its market will be US$ 3.1 Billion by 2026.
Frozen food consists of frozen fruits, vegetables, fish & marine produce, meat, ready meals, bakery products, soups, and appetizers that provide domestic consumption and export opportunities. Indias frozen food industry is at a nascent stage and expected to surge rapidly. Also, freezing expands the shelf life of foods like fish, seafood, vegetables, and fruits while keeping their nutrition intact and wholesomeness alive. That provides an opportunity to stabilize the price in the market. The market size of India Frozen Food Industry was valued at US$ 1.1 Billion in 2020.
The surging number of Farmer Producer Organisations, solar-based refrigeration technologies, freezing and chilling facilities would boost the values of the farmers in India. Besides, for more than two decades, government agencies like the Ministry of food and Processing (MOFPI) have taken several steps to boost cold chain manufacturing & infrastructure facilities and continue to do so, like incentives and numerous schemes for the growth of this market. We believe India Frozen Food Growth Trends will be in double-digit CAGR due to all these factors. It is expected to grow with a CAGR of 18.85% from 2020-2026.
Factors Driving the Frozen Food Industry in India
Due to changing lifestyle, there is considerable growth in customer penchant towards convenience foods, which indirectly favors frozen products' rising demand, since it requires much less time and effort than regular cooking.
India has witnessed a significant surge in a number of employed women in recent years. With the growth in the number of working women, it becomes considerably tricky for them to cook meals, which results in consuming frozen ready meals.
With the introduction of organized retail stores, there has been growth in the freezers and cold storage section.
Renub Research latest report "India Frozen Food Market by Segments (Meat, Ready Meals, Fish/Seafood, Bakery Products, Potato Products, Pizza, Others), End Users (Retailers, Food Service Providers - Restaurants, Cafeterias, Hotels), Regions (North, West, South, East), Company Analysis (Mother Dairy Fruit & Vegetable Pvt. Ltd., McCain Foods, Al Kabeer Group, Apex Frozen Food, Venky's (India) Limited, Darshan Foods Pvt. Ltd., Innovative Foods (Sumeru), Temptation Food)" provides a complete analysis of India Frozen Food Industry.
Food Service Providers (Restaurants, Cafeterias, Hotels)
Regions - Market breakup from 4 viewpoints
1. North Region
2. West Region
3. South Region
4. East Region
All companies have been covered from 2 viewpoints
1. Mother Dairy Fruit & Vegetable Pvt. Ltd.
2. McCain Foods
3. Al Kabeer Group
4. Apex Frozen Food
5. Venky's (India) Limited
6. Darshan Foods Pvt. Ltd.
7. Innovative Foods (Sumeru)
8. Temptation Food
About the Company:
Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises major players in Healthcare, Travel and Tourism, Food & Beverages, Power & Energy, Information Technology, Telecom & Internet, Chemical, Logistics & Automotive, Consumer Goods & Retail, Building and Construction, & Agriculture. Our clients rely on our market analysis and data to make informed knowledgeable decisions. We are regarded as one of the best providers of knowledge. Our pertinent analysis helps consultants, bankers and executives to make informed and correct decisions.
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