INDIA FROZEN FOOD MARKET

INTRODUCTION

Frozen food is kept fresh from the time it is made until it is consumed. Farmers, fishermen, and trappers have kept grains and food preserved over the winter months in unheated structures since ancient times. Inhibiting the growth of the majority of bacterial species, freezing food delays the breakdown process by turning any remaining moisture into ice.

There are two procedures used in the food commodity industry: mechanical and cryogenic (or flash freezing). It's crucial to maintain the food's quality and texture when freezing. Smaller ice crystals are produced and cellular structure is maintained through faster freezing. Due to the extremely low liquid nitrogen temperature of 196 °C (320 °F), cryogenic freezing is the fastest freezing process currently in use.

Instead, the majority of frozen food is frozen mechanically utilizing refrigerators' common vapor-compression refrigeration method. Even though it is typically slower, such a method is less expensive at larger scales.

Microbes cannot thrive in food below 9.5 °C (15 °F), the preservation properties of frozen products are adequate to prevent food from spoiling on their own. Food storage at significantly lower temperatures may be necessary for long-term food preservation. Because it doesn't compromise the quality of the food, the stabilizer carboxymethylcellulose (CMC), which has no taste or odor, is often added to frozen foods.

Frozen food has been popular in developed economies for several decades and now the growth momentum is in developing countries like India. As of 2024, the frozen food market penetration in India is less than 3%(~40M consumers) but has been growing at a fast rate.

INDIA FROZEN FOOD MARKET SIZE AND FORECAST

The India frozen food market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

INDIA FROZEN FOOD MARKET DYNAMICS

The frozen food market in India is concentrated in urban societies where approximately 400M people reside. The majority of sales for frozen food players come from younger consumers in tier-1 cities. The new products launched in recent years have also been aligned to the taste of these consumers.

Frozen food in India is typically priced between $2-$4 per unit which makes it out of reach for several low-earning consumers. There is also the inhibition among Indian consumers that frozen foods are high in preservatives.

MAJOR FROZEN FOOD ITEMS SOLD IN INDIA

INDIA FROZEN FOOD MARKET OPPORTUNITY

A new brand looking to enter the Indian frozen food market should have smaller sachet packaging to allow affordable pricing and accessibility among various consumer segments.

Online-only retailing of a new brand coupled with aggressive marketing can also be a prudent go-to-market strategy. For example, Big Basket (among the leading online grocery retailers) recently launched a new brand Precia which will be retailed via their online channels only.

INDIA FROZEN FOOD MARKET COMPETITIVE LANDSCAPE

India's frozen food market now has many new entrants but it is still largely dominated by the Godrej-Tyson joint venture, ITC,Mcgain owing to their old presence and wide availability.Some of the recent entrants include Haldirams, Deep Indian Kitchen and Nestle Maggi.

We believe the market is still in a very nascent phase and can accommodate new brands but pricing and right branding is key.

INDIA FROZEN FOOD MARKET NEW PRODUCT LAUNCH

Introduced mouthwatering options including Bread, Parathas, curries, snacks, chutneys, combo meals, desserts, Mom's Special, Dakshin Express, and Jhatpat Meals, Haldiram's Frozen Food collection is already one of the most well-liked product categories.

The fresh, homey flavor of these ready-to-eat foods as well as their health benefits make them popular. As the newest addition to the frozen food range, the company has created tantalizing Desi Wraps and mouthwatering kebabs.

INDIA ECONOMY OUTLOOK

• India's GDP growth rate for FY 2023-24 was estimated at 7.6% which was a reasonable improvement from the 7% growth recorded in FY 2022-23 .
• India`s service sector is driven by IT( Information technology) exports which has been experiencing a slowdown since late 2022.A slowdown in major client countries like the US and Europe, has led companies to be more cautious with IT spending.
• The FMCG sector in India has grown at 18-20% CAGR over the past decade creating sizeable logistics and packaging demand.
• India`s manufacturing sector contributes approx 14% to the GDP and automotive industry accounts for approx 50% of that.
• The automotive industry has grown consistently post-COVID and now India is the world's 3rd biggest car market after US and China.

INDIA FROZEN FOOD MARKETCOMPANY PROFILE

• Haldiram
• McCain Foods (India) Private Limited
• Godrej Tyson Foods Limited (Real Good Chicken and Yummiez)
• Innovative Foods Limited (Sumeru)
• Mother Dairy Fruit & Vegetable Private Limited (Safal)
• ITC Limited (ITC Master Chef)
• Hyfun Frozen Foods Pvt. Ltd. (HyFun)
• Top Fresh International Private Limited
• DARSHAN FOODS PVT. LTD. (Meatzza)
• Swadhika Foods LLP

INDIA FROZEN FOOD MARKETREPORT WILL ANSWER FOLLOWING QUESTIONS

1. What is the average cost perIndia frozen food marketright now and how will it change in the next 5-6 years?
2. Average cost to set up afrozen food marketinIndia?
3. How manyIndia frozen food marketare manufactured per annum globally? Who are the sub-component suppliers in different regions?
4. What is happening in the overall public, globally?
5. Cost breakup of aIndia frozen food marketand key vendor selection criteria
6. Where is theIndia frozen food marketmanufactured? What is the average margin per equipment?
7. Market share ofIndia frozen food marketmanufacturers and their upcoming products
8. The most important plannedIndia frozen food marketin next 2 years
9. Details on network of majorIndia frozen food marketand pricing plans
10. Cost advantage for OEMs who manufactureIndia frozen food marketin-house
11. 5 key predictions for next 5 years inIndia frozen food market
12. Average B-2-BIndia frozen food marketprice in all segments
13. Latest trends inIndia frozen food market, by every market segment
14. The market size (both volume and value) ofIndia frozen food marketin 2024-2030 and every year in between?
15. Global production breakup ofIndia frozen food market, by suppliers and their OEM relationship