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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.
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.
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.
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’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.
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 FROZEN FOOD MARKET INDUSTRY OUTLOOK
INDIA FROZEN FOOD MARKET COMPANY PROFILE
