DUBLIN, Nov 14, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "India Frozen Food Market Outlook 2021" report to their offering.
The market is segregated into six segments like frozen vegetables, frozen snacks, frozen seafood, frozen poultry, frozen red meat and others. Frozen snacks and vegetables are the largest category in terms of sales volume whereas frozen poultry, seafood and red meat are still new to Indian consumers. There are three end users who combine to form the Indian frozen food industry; they are retail consumers, commercial businesses and exports. Before five years, players were largely dependent on export market which earned significant revenues to them. However, with growing importance of frozen food in the commercial and retail sector, domestic market has also turned to be lucrative. Today, the Quick Service Restaurants, fast food chains, hotels, and cafes from not only metros, but even from tier-II and tier-III cities are gearing up to offer their customers the finest in food along with the ambience. Hence, they have started using frozen food to serve their orders quickly and efficiently without any hassles. Retail sector is also growing with a strong compounded annual growth rate from the last five years. Despite the challenges being faced by the cold chain industry, the frozen food market is expected to grow due to consumer demand and many new players and brands entering into the industry. These new players will bring into new varieties of product to fulfill the consumer demand. The market is largely dominated by select national brands and some regional players. Al Kabeer, McCain Foods, Mother Dairy, Venky's, Innovative Foods, Godrej Tyson Foods etc. are some of the major players operating in the industry. Frozen foods have also witnessed rapid growth with the evolution and growth in modern retail. Today, modern trade/retail is a more favored shopping destination as consumers find greater variety, quality and convenient pack sizes here. Moreover, modern stores also provide space for better brand visibility and communication. Some of the best performing retail stores include Tesco, Spencer's, HyperCity, Food Bazaar, Easyday, DMart etc. which have extensive cold storage facilities with them.