The frozen food market in India is forecast to grow by US $1,478.91 million in value from 2023-27 and register a compound annual growth rate of 14.12%, according to Technavio’s latest market research report. Its summation of data from multiple sources covers market size, trends, segmentation, distribution channels, major players and other subjects.
Sales growth in ready-to-cook products will be especially significant. This segment includes frozen pizza, pasta, croissants, Asian-style rice bowls and noodle bowls, crispy pancakes, tarts, and other items.
Vendor Analysis and Scope
The market is fragmented, and the degree of segmentation will accelerate during the forecast period. Among major vendors and producers of frozen food active in India are Ajinomoto Co., Apex Frozen Foods, Associated British Foods, Capricorn Food Products India, Conagra Brands, Corporativo Bimbo SA de CV, Darshan Foods, Frozen Tropicals, General Mills, Godrej Agrovet, HyFunFoods, Innovative Foods, ITC Ltd., McCain Foods, Mother Dairy Fruit and Vegetable Pvt., Nestle SA, Savola Group, Top Fresh International, Unilever PLC and VH Group.
Major Trends
Expanding organized retail landscape is an emerging trend in India’s frozen food market that is poised to have a continuing positive impact on sales growth, as there is a growing presence of supermarkets, hypermarkets and specialty stores across the country. Large retailer operators offer an wide variety of frozen products including ready meals, meats, poultry, fruits and vegetables.
Key Challenges
Distribution challenges, however, are expected to hamper market expansion in India over the next five years. The lack of suitable refrigerated transportation and cold storage facilities across the nation remains problematic, as vendors rely on cold chain logistic providers to ensure proper distribution and storage of frozen products.
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