Frozen Foods Market Overview
India Frozen Foods Market Size was valued at USD 169.2 Billion in 2022. The frozen foods market industry is projected to grow from USD 193.73 Billion in 2023 to USD 572.334 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 14.50% during the forecast period (2024 - 2032). The market is being driven by a number of market drivers, including rapid urbanization, rising disposable incomes, changing dietary and lifestyle habits, improvements in cold chain infrastructure, greater awareness of global food trends, and easier access to products through supermarkets and online retail.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Frozen Foods Market Trends
- Growing Urbanization and Changes in Lifestyle to Boost the Market Growth
India's lifestyle and eating habits are changing dramatically as a result of growing urbanization, mostly as a result of increasing disposable incomes and shifting work schedules. A favorable environment for market expansion in India is created by the growing population of time-pressed urbanites who are looking for quick, simple, and convenient meals. People's time to prepare traditional, time-consuming dishes is decreasing as life gets faster, which has led to a rise in the demand for frozen food products because of their variety, affordability, and year-round availability. In addition, the growing number of working women and the emergence of nuclear families in India have driven up demand for these goods. The industry is seeing lucrative growth potential due to the increasing inclination towards products like frozen pasta, pizza, and desserts, as well as the penetration of Western culture and eating habits.
The cold chain logistics and storage facilities in India have benefited greatly from ongoing technology improvements, which have propelled the frozen foods market CAGR. Sturdy cold chain systems are necessary to keep frozen food products fresh and prolong their shelf life, which in turn affects demand and customer satisfaction. In addition, improved cold storage facilities, chilled transportation, and effective logistics networks in India have increased product availability and accessibility in India's rural and urban areas, which has fueled the expansion of the industry. Furthermore, the market is presented with lucrative growth potential by the adoption of several beneficial government programs aimed at strengthening the cold chain infrastructure. These developments have also made it possible for supermarkets and online grocery stores to grow, which is important because frozen food needs these routes of distribution. Thus, driving the frozen foods market revenue.
Frozen Foods Market Segment Insights
Frozen Foods Categories Insights
The India Frozen Foods market segmentation, based on categories, includes Staple Foods, Snacks, Cooking Ingredients, Dairy Products and Alternatives, and Meals. The staple food segment dominated the market mostly. In Indian cuisine, staple foods play a crucial role as fundamental elements of customary meals, preserving customer familiarity and convenience. Furthermore, staple foods are easily incorporated into daily meals, have a wide appeal, and save time and effort while preparing meals.
Frozen Foods Application Insights
The India Frozen Foods market segmentation, based on application, includes Fruit & Vegetables, Non-Veg, Potatoes, Ready Meals, Soup, Frozen Bakery Products, and Others. The ready meals category generated the most income. It is anticipated that this category would continue to dominate for the duration of the projected period since working-class people consume prepared meals on a global scale. Furthermore, it is anticipated that the frozen ready meals market sector would rise significantly as a result of new releases in frozen ready meals that are related to rising research and development costs for food processing along with a better frozen food item distribution system.
Frozen Foods Age Group Insights
The India Frozen Foods market segmentation, based on age group, includes Under 18, 18-30, 30-45, and 45 & above. The 18-30 category generated the most income because of their hectic schedules and inclination for quick, easy solutions. Furthermore, they have a greater inclination to experiment with new food items and discover different cuisines, which makes the wide range of options provided by frozen foods extremely alluring. Moreover, because they have limited funds, this age group may prioritize price, and frozen foods are frequently accessible and affordable.
Figure 1: India Frozen Foods Market, by Age Group, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Frozen Foods Distribution Channel Insights
The India Frozen Foods market segmentation, based on distribution channel, includes Supermarkets/Hypermarkets, Convenience Stores, Online Retail Channels, and Other. The online retail channels category generated the most income. Following the pandemic, frozen fruit sales through online retailers increased significantly. This market helps provide customers with convenience and a wide range of options. During the pandemic, the food e-commerce platform experienced the largest growth, rising by approximately 84%.
Frozen Foods Country Insights
Throughout the research period, India is expected to experience tremendous growth. Consumers' increasing use of digital retailing platforms is the cause of this growth. Growing frozen food markets in India are also being aided by the proliferation of cold chain establishments in developing nations. Furthermore, the expansion of the preserved food industry in India is being aided by the rise in refrigeration units found in retail establishments, as well as the growing availability of free samples offered by online retailers. Additionally, a vast range of frozen food options can be attributed to the nation's varied culinary customs and changing dietary tastes. Local specialties such as frozen parathas, kebabs, samosas, and more are offered by manufacturers and stores to accommodate this diversity. Market expansion is fueled by this personalization, which appeals to consumers.
Frozen Foods Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the frozen foods market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the frozen foods industry must offer cost-effective items.
Major players in the frozen foods market are attempting to increase market demand by investing in research and development operations, including Apex frozen foods Ltd., Nestle, Arya Foods Amba, ITC Limited, Venky's (India) Ltd., Hershey's, Godrej Agrovet Ltd., and Conagra Brands.
Key companies in the frozen foods market include.
- Apex frozen foods Ltd.
- Nestle
- Arya Foods Amba
- ITC Limited
- Venky's (India) Ltd.
- Hershey's
- Godrej Agrovet Ltd.
- Conagra Brands
Frozen Foods Industry Developments
July 2022: In India, Continental Coffee (CCL), a domestic coffee company, introduced its plant-based brand, "Continental Greenbird," which sells frozen meals. Four plant-based meat kinds were initially available from CCL with Continental Greenbird: Mutton-like keema, Chicken-like nuggets, Chicken-like seekh kebab, and Chicken-like sausage.
April 2022: New snacks have been added to Prasuma's frozen food menu, an Indian company that specializes in chilled meat and frozen dishes. The company expanded its line of frozen foods with the introduction of frozen chicken nuggets, frozen vegetable and chicken spring rolls, frozen vegetable and chicken mini samosas, mutton and chicken seekh kababs, and bacon.
Frozen Foods Market Segmentation
Frozen Foods Categories Outlook
- Staple Foods
- Snacks
- Cooking Ingredients
- Dairy Products and Alternatives
- Meals
Frozen Foods Application Outlook
- Fruit & Vegetables
- Non-Veg
- Potatoes
- Ready Meals
- Soup
- Frozen Bakery Products
- Others
Frozen Foods Age Group Outlook
- Under 18
- 18-30
- 30-45
- 45 & Above
Frozen Foods Distribution Channel Outlook
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Retail Channels
- Other
Report Attribute/Metric |
Details |
Market Size 2022 |
USD 169.2 Billion |
Market Size 2023 |
USD 193.73 Billion |
Market Size 2032 |
USD 572.334 Billion |
Compound Annual Growth Rate (CAGR) |
14.50% (2024-2032) |
Base Year |
2023 |
Market Forecast Period |
2024-2032 |
Historical Data |
2019-2022 |
Market Forecast Units |
Value (USD Billion) |
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
Segments Covered |
Categories, Application, Age Group, Distribution Channel, and Region |
Countries Covered |
India |
Key Companies Profiled |
Apex frozen foods Ltd., Nestle, Arya Foods Amba, ITC Limited, Venky's (India) Ltd., Hershey's, Godrej Agrovet Ltd., and Conagra Brands |
Key Market Opportunities |
Quick Developments in Freezing Technology |
Key Market Dynamics |
Emerging Trends in Frozen Fruits and VegetablesIncreased Knowledge about Frozen Food's Extended Shelf Life |
Frequently Asked Questions (FAQ) :
The India Frozen Foods market size was valued at USD 193.73 Billion in 2023.
The market is projected to grow at a CAGR of 14.50% during the forecast period, 2024-2032.
The key players in the market are Apex frozen foods Ltd., Nestle, Arya Foods Amba, ITC Limited, Venky's (India) Ltd., Hershey's, Godrej Agrovet Ltd., and Conagra Brands.
The staple food category dominated the market in 2023.
The Ready Meals category had the largest share in the market.