The propensity of Indian consumers to discover different meals implies that they are evolving into highly exploratory consumers. The younger breed of savvy buyers now places a strong emphasis on quality food and are willing to go the extra mile for extra ease. To keep up with the ever-rising demand, India’s food manufacturers routinely innovate additional products to their offerings.
There are numerous reasons why the frozen food industry in India is flourishing.
- Frozen meals are more alluring to customers than other kinds of meals as they don’t contain preservatives, trans fat, additional colors, or flavors, and they feature clean labels and appealing packaging.
- The year-round availability of frozen foods is yet another aspect that fosters customer adoption.
- Frozen food meals are the perfect solution to address the surging need for personalized nutrition.
- Being an easy and convenient way of consuming quick meals, the frozen foods market seems to be expanding largely.
Youth of today are moving away from families for work or personal reasons and hence desire ease and comfort for a stress-free living. Shoppers in the current generation are not only curious but also spontaneous when it involves purchasing food and other daily needs items. This trait is highly influenced by the lifestyle they live in currently. In contrast to metropolitan areas, tier 1 and tier 2 cities are indeed quickly catching up with the growing trend. Considering that rural areas are keeping pace with cities, it is probable that it will propagate across them as well.
Some astonishing current and predicted Frozen food market share stats
The Indian frozen foods market size reached INR 144.3 Billion in 2022.
Looking forward, IMARC Group expects the market to reach INR 353.3 Billion by 2028, exhibiting a growth rate (CAGR) of 16% during 2023-2028. (information source: https://www.imarcgroup.com/indian-frozen-foods-market#:~:text=The%20Indian%20frozen%20foods%20market,16%25%20during%202023%2D2028)
The market for frozen foods has been gaining massive attraction in India not only due to their convenience but also because they do not need any additional preparation and culinary expertise. Additionally, frozen food products, especially frozen snacks, and meals, offer enhanced palatability when compared to home-cooked snacks and meals. Another astonishing reason for the boost in demand for frozen foods in India is that these products are available year-round independent of the season. The cherry on the cake is, the availability of various distribution channels such as supermarkets and hypermarkets, convenience stores, departmental stores, etc. making a purchase hassle-free.
Given that the ready-to-eat food market is taking the market by a pleasant storm, global FMCG companies operating in India are all geared up to embrace this reality. Furthermore, producers are progressively offering ready-to-eat food items with distinctive packaging in an attempt to lure more consumers.
Food waste is among the most crucial ecological and agricultural dilemmas our nation is currently confronting, and frozen food can play a vital as well as beneficial role in the resolution of stringent environmental regulations.
By conveniently regulating serving sizes with ready-to-cook items, food wastage can be minimized. During the freezing process, frozen foods retain their nutritional value for individuals who are concerned about their health, as a result. They ought to cook what they require in their own kitchens and save the extra for the future.
It is envisaged that the industry for frozen-ready meals would rise in the upcoming decades. The influx of new enterprises, improved infrastructure, and government assistance and stimulation are all driving market expansion. Natural foods, affordability, and nutritional components will provide new opportunities. The extent to which companies in this sector will expand would eventually rely on a variety of factors, including the condition of the market and favorable government.
Key Learning
Competitors must innovate in their offerings through the development of distinct and unique value propositions to stay afloat and grow in a market that is so fiercely competitive. Consequently, the frozen food industry in India has a promising future.
Best frozen food products
Frozen foods snacks and meals manufactured by Goeld assures to fulfill its ever-wanting customers with unique but diet-friendly frozen foods items, ranging from scrumptious, wonderful frozen Indian curries to irresistible healthy snack frozen items. We produce 100% vegetarian frozen meals in 100% vegetarian kitchens, spearheading the worldwide frozen food industry.
