(MoneyNewsWire.Net, 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.
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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.
Follow the link for the full report with detailed TOC and list of figures and tables: https://www.renub.com/india-frozen-food-market-p.php
Segment Market breakup from 7 viewpoints
1. Frozen Meat
2. Frozen Ready Meals
3. Frozen Fish/Seafood
4. Frozen Bakery Products
5. Frozen Potato Products
6. Frozen Pizza
7. Others Frozen Food
End Users - Market breakup from 2 viewpoints
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
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