Indian frozen food market growing at 15-20% CAGR in the last four years

23 April, 2018

According to “India Frozen Food Market Outlook, 2021”, frozen food market of India is growing with a CAGR of 15-20% in the last four years.

Although India is a huge producer of food products it is still untapped in the frozen food export industry. The demand for Indian recipes from the Indian settled across the globe has served as an impetus to development of the frozen food industry in recent years. Vegetables like drumsticks and okra and prepared food like chapattis and parathas are nowadays available in frozen form in neat packets all over the world.

This growth was mainly due to more working women, young professionals living alone and greater exposure to western food patterns making consumers to go for food fried, baked or toasted straight from the freezer. The consumption of processed and frozen food has also increased because of growing income of the middle class people in recent years as frozen food provides good food with lesser cooking time. Owing to urbanization and increased income of people, western India has the largest share in the frozen food market. North India will show a steady growth in the forecast period and Southern market will increase as a result of growing popularity of frozen idli sambar. Frozen vegetables and frozen snacks are anticipated to remain the most popular product categories capturing majority of the market share.

India’s food market is projected to get double in the coming few years due to rapid economic development, growing population and improved lifestyle. Busy lives are influencing consumers to shift their dietary preferences towards ready-to-eat food products. Hence, frozen foods have become an important part of the modern diet. Freezing or refrigeration allows consumers to have access to foods which were either unavailable or available only during a particular season. Also, freezing helps consumers to preserve their food products for future use. Availability of a wide range of frozen food products in different food categories is giving a boost to the frozen food market in India.:

 

 

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