India Frozen Food Market to Grow at CAGR 15% till 2021
Rapid urbanization,
changing lifestyles, rising number of working women and increasing per capita
disposable income to drive India frozen food market through 2021
According to
TechSci Research report, “India
Frozen Food Market By Product Type, By Organized Vs
Unorganized, Competition Forecast and Opportunities, 2011 - 2021”, India frozen food market is projected
to grow at a CAGR of around 15%, during 2016-2021, on account of increasing
number of modern retail chains, rising number of refrigeration facilities in
small retail shops and rural households, rapid development of fast food chains,
aggressive marketing strategies by major frozen food manufacturers, and longer
shelf life and easy availability of frozen food products. According to World Bank, GDP per capita in India stood at USD1,581.59
in 2015. Rising GDP resulted in increased disposable income of consumers, especially
in metros, Tier I and Tier II cities. Consequently,final household expenditure in
India was more than 59% of the total GDP as of 2014.Rising disposable income
levels is auguring well for India frozen foods market. McCain,Godrej
Tyson, Venky’s, Darshan Foods, National Dairy Development Board (Mother Dairy),
Al Kabeer Exports and Innovative Foods are some of the leading players operating
in India frozen food market.
Browse
13 market data Tables and 43 Figures spread through 126 Pages and an
in-depth TOC on "India Frozen Food
Market"
https://www.techsciresearch.com/report/india-frozen-food-market-by-product-type-frozen-snacks-frozen-fruits-and-vegetables-frozen-meat-poultry-and-seafood-and-others-by-organized-vs-unorganized-competition-forecast-and-opportunities/819.html
India frozen food market
comprises frozen snacks, frozen meat, poultry & sea foods & frozen
fruits & vegetables, etc. Frozen
snacks dominated demand for frozen food in the country and the segment is
anticipated to continue dominating the market through 2021, due to wide variety
of products available in the segment. Leading market players are offering frozen food products keeping in mind taste
and preferences of consumers. Furthermore, developments in cold chain industry are
also benefiting frozen food market in India. India cold chain industry is
anticipated to grow at a CAGR of more than 24% in coming years. Moreover, North India emerged as major revenue generator
in India frozen food market due to robust growth in employment opportunities
and rising migrating population to North India.
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“Frozen foodmarket in India is growing
due to convenience associated with frozen
food products. Demand for frozen food products in the country is growing
owning to freshness and high nutritional value of these foods. Further, in
order to promote benefits and create awareness about frozen food products,
manufacturers are investing in marketing strategies and introducing new
products in innovative packaging, and this is helping increase its brand value
and sales to a large extent. These developments are, in turn, expected to drive
the market for frozen foodin the country in the coming years.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“India
Frozen Food Market By Product Type, By Organized Vs Unorganized, Competition
Forecast and Opportunities, 2011 - 2021” has evaluated the future growth potential of India frozen foodmarket and
provides statistics and information on market structure, size, share and future
growth. The report is intended to provide cutting-edge market intelligence and
help decision makers to take sound investment evaluation. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in the India frozen food market.
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