Current Consumption Trends in the Frozen Food Market

In these ever-changing times of unlimited progress, everyone lifestyle is going through a drastic change and so are our eating habits and food preservation techniques. With the increasing number of companies being born and the women walking shoulder to shoulder with men, the eating and cooking patterns have indeed impacted and changed radically. Among all, urbanization has played a huge role in bringing these radical changes.

When frozen food was first introduced in India, it was restricted to french fries and basic frozen vegetables.  Now this is not restricted to those to categories any longer, the horizons have expanded and it covers ready to eat foods, meat, poultry, sea food, fruits, vegetables, fruits and much more which fall in the same category of foods.

One of the surveys conducted by Assocham in 2015 stated that the frozen food industry in India alone would reah to $50 billion by the end of 2017. The global frozen food market is estimated to grow at  a a whopping $306 billion which is about compounded aggregate of 4.1% each year until 2020 from 2015.  When considering the frozen food market, it has both retail and business customers. The retail segment covers households and individuals and the business segment covers fast food outlets, hotels, caterers and business buyers.

It is this business chunk that use frozen foods more often when compared to households or individuals. The frozen foods includes bread, potatoes, frozen dough, frozen pizza crust, frozen meat, sea food, fruits and vegetables which are widely used to prepare delicacies for the customers. After North America, it is Europe that tops the list of the frozen food consumption. It is now being adopted by other parts of the world as well radically.

Any market is driven by the metrics of demand and supply, so is the frozen food market growth widely dependent on the demand and consumption of the frozen food. The major developing nations also being one of the largest democratic and communist nations in the world, India and China respectively are witnessing an increase in the demand and consumption of the frozen foods. The sudden burst of hypermarkets and supermarket chains all over the nation are one of the reasons why the frozen food has seen a drastic rise not only in India and China but the remaining Asian countries as well. When we consider the developed countries this market is growing moderately. However, throughout the world, one of the major drivers of the frozen food segment is technology.

Lack of technology in the less developed areas like the semi urban and rural areas, is one of the major obstacles which is not fostering the growth in both the consumption of the frozen food. The complete frozen food market segmentation is based on the geography, the product type and the user.

Some of the major organizations that operate in this market segment adopt the methods of acquisition or rather new product development in order to gain a competitive edge in the market when compared to other players. In the bakery frozen food segment, Arytza company takes the first place to cover the European and North American regions, whereas in the frozen pizza segment, Nestle leads the same geographical locations. McCain and Gadre are gaining their reach in India across various food categories in the frozen food segments.

Apart from the organizations and food outlets, the Government initiatives also will boost this segment of food sector in the country. Offering concession to those investing in the frozen food market will make it an attractive bet for the investors to venture in this segment even more. Encouraging Foreign Direct Investment in thise segment of food processing industry will bolster the growth of this segment like no other. Consumption of frozen foods will surely see a rise in demand as the time progresses in India and all across the globe.

Share this post:

Recent Posts

Leave a Comment

71 − 65 =