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Report on How AI is Driving Market TransformationThe India frozen food market is estimated to grow by USD 2.41 billion at a CAGR of 18.52% between 2023 and 2028. The market experiences growth fueled by an increasing preference for convenience and the rapid expansion of e-commerce, particularly bolstered by rising demand from Quick Service Restaurants (QSRs). However, obstacles such as distribution challenges, health concerns related to frozen food consumption, and inadequate logistics infrastructure impede this growth. Despite the burgeoning desire for convenience and the surge in online retail, challenges persist in ensuring efficient distribution channels and mitigating health risks associated with frozen food consumption. Addressing these hurdles necessitates strategic investments in enhancing logistics infrastructure and implementing stringent quality control measures. While the market benefits from the convenience-driven consumer trends and the digital commerce boom, overcoming distribution obstacles and health concerns is vital for sustained growth and market resilience.
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The market share growth by the ready-to-cook segment will be significant during the forecast period. This segment includes Frozen Pizza, Frozen Pasta, Frozen Croissant, Frozen Asian Food, Frozen Rice Bowl, Frozen Noodle Bowls, Frozen Crispy Pancakes, Frozen Tarts, and others. Frozen foods are gaining popularity due to their ease of preparation and short cooking times. However, this segment faces certain challenges. Frozen foods are often high in sulfur, and eating them can raise your blood pressure. Frozen prepared foods are reheated. The frozen ready-to-eat segment is affected by consumer shifts towards healthier eating options.
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The ready to cook segment was valued at USD 566.4 million in 2018. Suppliers are looking to add healthier options to their range of frozen prepared meals. The increasing availability of nutrient-dense varieties of frozen prepared meals will impact the growth of this segment during the forecast period. Prominent suppliers in India include Conagra, Nestle, and McCain. The market is expected to witness high growth during the forecast period, owing to the increasing consumption of ready-to-eat meals.
The market is thriving due to technological advancements and changes in lifestyle, particularly in urbanization. Frozen vegetables offer convenience, reducing preparation time for meals. The market includes a wide range of products, from private-label frozen food products to Processed frozen food products. Online retail has also contributed to the market's growth, offering a variety of frozen items like Packaged French fries, pasta, and plant-based foods. Frozen fruits and vegetables, along with frozen meat products and pizza, are among the popular choices. The market continues to expand, driven by the demand for frozen vegetable snacks and chicken snacks. The cold chain infrastructure plays a crucial role in maintaining the quality and safety of frozen foods.
The frozen food market meets diverse dietary habits with products designed for long storage periods and quick cooking, catering to busy lifestyles. Consumers benefit from convenient grocery shopping options and simplified meal prep, appreciating varied textures and high nutrient content preserved during freezing. Year-round access ensures availability, reducing concerns about food spoilage and enhancing food security. With minimal preparation required, frozen foods provide practical solutions for individuals and families alike, aligning with modern preferences for convenience without compromising nutritional quality. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing desire for convenience is notably driving the market growth. Consumers' increasingly hectic and changing lifestyle make them prefer ready-to-eat foods, which saves cooking and cleanup time. Convenience is often a key factor that suppliers consider to increase consumer relevance, as the majority of consumers look for convenience while choosing a packaged product. Advances in refrigeration technology, an increase in single-person and small-person households, and an increase in the number of working women have increased the demand for ready-made foods such as frozen foods. In addition, these suppliers offer convenient handling and preparation, providing a variety of flavors and recipes in desired portion sizes. They leverage supply chain infrastructure and technological advancements to meet the needs of urbanization and changing lifestyles. Frozen foods, including vegetables and prepared meals like chicken snacks, reduce preparation time and cater to the demand for quick and easy meal options. Although the Indian food market has traditionally been dominated by fresh produce, the above factors provide opportunities for suppliers to grow. However, sellers should communicate the positive benefits of the long shelf life to customers. Due to all these factors, the Indian frozen food market is expected to witness high growth during the forecast period.
In addition, the increasing internet penetration worldwide has led to the global growth of e-commerce companies. Moreover, the demand for online shopping is increasing all over the world due to convenient shopping, easy searching of products, and increased demand for attractive and customized offers on products. Online retail has created new opportunities for suppliers in the industry to increase sales, expand their geographic footprint, and improve customer relationships and profitability. The market, especially for packaged croissants, is expected to grow during the forecast period owing to increasing online penetration of frozen food. E-commerce and fast online grocery delivery services are sweeping the Indian startup ecosystem. Hence, the rapid growth of e-commerce will have a positive impact on the packaged croissant market during the forecast period. These platforms facilitate easy access to a wide range of packaged croissants, offering convenience and variety to consumers seeking bakery products online.
The expanding organized retail landscape is a key trend influencing market growth. The growing retail environment and increased availability of these products through various distribution formats are emerging trends in the market. Organized retail is experiencing significant expansion, as evident by the growing presence of supermarkets, hypermarkets, and specialty stores around the world. Large, organized retailers primarily sell different products such as frozen prepared meals, frozen foods, frozen meats and poultry, and chilled fruits and vegetables. Therefore, market players rely heavily on these retailers and compete for limited shelf space in these large organized retail outlets.
Convenience and value for money are key metrics for consumers, largely due to their busy lifestyles and work schedules, and organized retailers are pushing for a wide range of products under one roof. Thus, the shift in consumer shopping behavior towards supermarkets and hypermarkets is further increasing the importance of organized retailers for market players, which will positively impact the growth of the market during the market forecasting period.
The distribution challenges are impeding the growth of the Market. The product distribution and cold storage are key challenges that may hamper the growth of the market during the forecast period. The lack of suitable refrigerated transportation and cold storage facilities across India is likely to hamper market growth during the forecast period. Market companies rely on cold chain logistics providers to ensure proper distribution and storage of these products. They should be stored at 0 degrees Fahrenheit to ensure product quality. The lack of adequate refrigeration facilities in some regions will pose a challenge for market participants during the forecast period. Fruits and vegetables are among the most delicate foods and can easily spoil if not kept at recommended or constant temperatures.
Exposure to high temperatures can be a serious factor in the deterioration of frozen foods. Short-term exposure is generally not serious unless it is repeated frequently, but long-term exposure can be harmful. Even short-term exposure to excessive temperatures can lead to significant deterioration that is only noticeable after further storage. Temperature fluctuations should be avoided as they cause migration of moisture out of the product or within the package, leading to the formation of ice crystals and partial dehydration of the product. The product temperature is generally more important than the air temperature. Therefore, refrigerated and refrigerated transportation facilities are required to ensure the quality of these foods. The lack of these facilities could impede the growth of the featured market during the market forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Ajinomoto Co. Inc: The company offers different varieties of frozen foods such as fruits, mixed vegetables, and others. It also provides ready-to-eat meals, healthy meals, and integrated food solutions.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is witnessing growth due to advancements in cold chain infrastructure, making frozen food more accessible. Consumers appreciate the affordability and convenience of frozen food, especially as they shift towards convenient and ready-to-eat (RTE) food products. Consumer perceptions are changing, with a greater emphasis on health and wellness and nutritional value. The market benefits from increased awareness of global food trends and rising disposable incomes, particularly among the middle class. Retailers and food service providers are expanding their product range to meet consumer demand for Ready-to-cook meals and Ready-to-eat food items.
Moreover, the market thrives on its ability to cater to diverse dietary preferences and lifestyles, offering convenient options like ready-to-eat meals and quick-cooking items. Nutritional content and taste remain key considerations, addressing health-conscious individuals seeking plant-based foods or dairy alternatives. With online grocery platforms gaining prominence, consumers enjoy year-round access to seasonal products and international ingredients, minimizing food waste and ensuring peak freshness through cold chain systems. Cultural factors influence the market, reflecting culinary diversity and traditional reservations toward food safety and hygiene. For nuclear families and individuals with limited cooking skills, frozen foods provide long-term storage solutions without compromising quality, supported by efficient storage infrastructure and stringent quality checks. This market continues to evolve, blending Western culture's demand for quick meals with global culinary traditions, enhancing both convenience and culinary experiences.
Also, the market offers numerous advantages such as convenience, longevity, and improved product accessibility. Frozen food products are often more affordable than fresh counterparts, appealing to consumer preferences for convenience foods. They also cater to consumer satisfaction by offering a wide variety of options, including baked goods, burgers, desserts, and seafood. Despite concerns about decomposition and bacterial species, advancements in food preservation technology ensure safety and sanitization. As rapid urbanization and socioeconomic factors drive the demand for ready-to-eat (RTE) foods, the market continues to grow, offering environmentally sustainable options and catering to regional tastes.
Industry Scope |
|
Report Coverage |
Details |
Page number |
124 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 18.52% |
Market growth 2024-2028 |
USD 2.41 billion |
Market structure |
USD Fragmented |
YoY growth 2023-2024(%) |
15.18 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ajinomoto Co. Inc., Apex Frozen Foods Ltd., Associated British Foods Plc, Capricorn Food Products India Ltd., Conagra Brands Inc., Corporativo Bimbo SA de CV, DARSHAN FOODS PVT. LTD., Frozen Tropicals Pvt. Ltd., General Mills Inc., Godrej Agrovet Ltd., HyFunFoods Pvt. Ltd., Innovative Foods Ltd., ITC Ltd., McCain Foods Ltd., Mother Dairy Fruit and Vegetable Pvt. Ltd., Nestle SA, Savola Group, Top Fresh International Pvt. Ltd., Unilever PLC, and VH Group |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
With the growing adoption of AI across industries, Technavio has analyzed its impact on frozen food market driven by the integration of Artificial Intelligence (AI). India's frozen food market, encompassing ready-to-eat meals, frozen vegetables, snacks, and desserts, is witnessing rapid growth, fueled by shifting consumer lifestyles, rising urbanization, and the adoption of Artificial Intelligence (AI). AI is revolutionizing the sector by boosting supply chain efficiency, optimizing inventory management, enhancing customer experiences, and driving data-driven marketing strategies.This analysis delves into AI's impact on the frozen food market, backed by data and real-world examples.
These insights, available exclusively through Technavio, provide an unparalleled significant impact of AI on the frozen food market, backed by real-world examples and data.
The report provides details of AI's impact on various segment
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