Indian Frozen Foods Market

Market Overview:

The Indian frozen foods market size reached INR 167.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach INR 561.6 Billion by 2032, exhibiting a growth rate (CAGR) of 14% during 2024-2032. Rapid urbanization, rising disposable incomes of individuals, changing lifestyle and dietary habits, advancements in cold chain infrastructure, increased awareness of global food trends, and improved product accessibility through online retail and supermarkets are among the key factors driving the market.

Frozen food refers to edible items preserved by the process of freezing. It includes products such as fruits, vegetables, meat, poultry, and seafood, along with prepared meals and baked goods. The freezing process slows the decomposition by turning residual moisture into ice, thereby inhibiting the growth of most bacterial species, ensuring the food's longevity and safety. This process retains nutritional content, providing a year-round supply of otherwise seasonal products. One of the key advantages of frozen food is that it allows for the preservation and availability of seasonal products all year round. Moreover, the convenience offered by frozen food items, particularly in terms of meal planning and preparation time, is highly valued by consumers leading busy, modern lifestyles.

A convergence of several socioeconomic and cultural factors, such as rapid urbanization, the inflating disposable incomes of individuals, and the burgeoning middle class primarily drives the Indian frozen food market. Besides this, the rising demand for convenient and ready-to-eat (RTE) food products due to their time-saving nature and longer shelf-life are creating a favorable outlook for market growth. Moreover, the escalating awareness of global food trends and a shift towards Western eating habits, spurred by international travel and global media, are contributing to the market's growth. Additionally, significant improvements in cold storage and supply chain infrastructure are ensuring better product accessibility and quality, propelling the market forward. Concurrently, the implementation of various government initiatives promoting food processing industries is strengthening the market growth. Furthermore, changing consumer perceptions about the nutritional value of frozen food, backed by scientific evidence, are helping to break down traditional reservations, fostering wider acceptance among Indian consumers.

Indian Frozen Foods Market Trends/Drivers:

Rapid urbanization and lifestyle shifts

Increasing urbanization is driving significant changes in India's lifestyle and dietary habits, primarily due to the rise in disposable incomes and changing work patterns. Cities are expanding, and with them, an increasingly time-crunched population is seeking convenient, quick, and easy-to-prepare meals, thus creating a favorable outlook for market expansion. As the pace of life quickens, people have less time to cook traditional, time-consuming recipes, fueling the adoption of frozen food products as a popular choice due to their convenience, variety, and year-round availability. Moreover, the rise of nuclear families and the increasing number of working women have also propelled the demand for these products. The penetration of Western culture and food habits with a greater inclination towards products like frozen pizza, pasta, and desserts are presenting remunerative growth opportunities for the market.

Significant technological advancements in cold chain infrastructure

Ongoing technological advancements in India's cold chain logistics and storage infrastructure have played a crucial role in driving the frozen food market in the country. Robust cold chain systems are essential for maintaining the quality and extending the shelf-life of frozen food products, which ultimately impacts consumer satisfaction and demand. Besides this, enhanced cold storage facilities, refrigerated transport, and efficient logistics networks have improved product accessibility and availability across urban and rural areas of India, contributing to the market's growth. In addition to this, the implementation of various favorable government initiatives to strengthen the cold chain infrastructure presents remunerative growth opportunities for the market. These advancements have also enabled the expansion of online grocery platforms and supermarkets, which have become vital distribution channels for frozen food.

Indian Frozen Foods Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the Indian frozen foods market report, along with forecasts for the period 2024-2032. Our report has categorized the market based on product type.

Breakup by Product Type:

• Frozen Vegetable Snacks
• Frozen Fruits and Vegetables
• Frozen Meat Products

Frozen vegetable snacks represents the most widely used product type

The report has provided a detailed breakup and analysis of the market based on the product type. This includes frozen vegetable snacks, frozen meat products, and frozen fruits and vegetables. According to the report, frozen vegetable snacks represented the largest segment.

The rising demand for frozen vegetable snacks in India due to an increasing focus on health and wellness among consumers is strengthening market growth. With the rising emphasis on healthy eating in the country, consumers seek more nutritious food options and snacks. This trend is coupled with a growing societal awareness of environmental sustainability, encouraging people to incorporate more plant-based foods into their diets. This shift is driving demand for vegetable-centric frozen products that offer a healthier, more eco-friendly alternative to traditional snacks. In addition to this, the rise of the 'foodie' culture in India, driven by social media and food-oriented television shows, has piqued consumer interest in trying different types of cuisines and dishes. This has sparked demand for a wider variety of frozen vegetable snacks catering to diverse tastes and culinary exploration. Furthermore, significant advancements in food preservation technology have allowed manufacturers to maintain the taste and nutritional value of frozen vegetable snacks, enhancing market demand.

Competitive Landscape:

The competitive landscape of the Indian frozen food market is defined by a robust mix of established entities and new entrants, which creates a vibrant and dynamic environment. The market is dominated by certain prominent players that have carved out a significant market share due to their extensive product range, effective distribution networks, and powerful brand recognition among consumers. In recent years, emerging domestic players have been gaining market share as they offer a diverse range of products that cater to regional tastes and preferences, capitalizing on a deep understanding of the local market dynamics. The competitive landscape is further influenced by the rise of e-commerce and online grocery platforms. These platforms often introduce private-label frozen food products, thereby intensifying market competition.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players include:

• McCain India Pvt Limited
• Venky’s (India) Limited
• Mother Dairy Fruit and Vegetable
• Godrej Tyson Foods Limited
• Al Kabeer Group
• Innovative Foods Limited (Sumeru)

Indian Frozen Foods Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Indian frozen foods market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the Indian frozen foods market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Indian frozen foods industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.