Previously, the frozen food industry in India was limited to only basic frozen vegetables and French fries. But today, there is an extensive range of products from fruits & vegetables to frozen meats and from frozen snacking to full meal options. The Indian frozen food market is segregated mainly into six segments viz. frozen vegetables, frozen seafood, frozen snacks, frozen red meat, frozen poultry and others. Consumers in developed countries identify these frozen products as useful home meal solutions and appreciate the ease and quickness of preparation. This is considered to be the main USP of any frozen product available in the market. However, in India, consumption of frozen food is still close to negligible. The market is largely dominated by select national brands and some regional players.
major players operating in the industry
Godrej Tyson Foods
According to “India Frozen Food Market Overview, 2016-2022”, major factors driving the industry are growing customer craving, raising awareness and acceptance, increase in selling points, rise in the number of working women, changing lifestyle, deeper penetration by organized retail players and increase in available freezer space at the retail domain. Despite the challenges being faced by the cold chain industry, the frozen food market is expected to grow due to consumer demand and many new players and brands entering into the industry. These new players will bring into new varieties of product to fulfill the consumer demand. Frozen foods have also witnessed rapid growth with the evolution and growth in modern retail. Today, modern trade/retail is a more favored shopping destination as consumers find greater variety, quality and convenient pack sizes here. Moreover, modern stores also provide space for better brand visibility and communication. Some of the best performing retail stores include Easyday, Tesco, HyperCity, Spencer’s, DMart, Food Bazaar, etc. which have extensive cold storage facilities with them.
There are three end users who combine to form the Indian frozen food industry; they are retail consumers, commercial businesses and exports. Before some years, players were largely dependent on the export market which earned significant revenues to them. However, with the growing importance of frozen food in the commercial and retail sector, the domestic market has also turned to be lucrative. Today, the Quick Service Restaurants, fast food chains, hotels, and cafes from not only metros but even from tier-II and tier-III cities are gearing up to offer their customers the finest in food along with the ambiance. Hence, they have started using frozen food to serve their orders quickly and efficiently without any hassles. The retail sector is also growing with a strong compounded annual growth rate from the last five years.
Frozen Red Meat
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