As part of the final report, an analysis will be included to examine the effects of the Russia-Ukraine War and COVID-19 on the India Frozen Foods industry.
New Industry Report on India Frozen Foods Market Status and Prospects [2023-2030] has been released. The report is 100 pages long and provides an overview of the business with key types and applications along with the industrial chain structure. It includes information about the global market, such as development trends, competitive landscape analysis, key regions, and their development status. The report also examines advanced approaches and plans, as well as manufacturing processes and cost structures. It analyzes import/export utilities, market figures, cost, price, revenue, and gross productivity of the market. If you are interested in the report, Please Request Free a Sample Copy
The market is expected to reach INR 278.68 Billion by 2026, expanding at a CAGR of 17.88% during the 2021-2026 period.
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The frozen food market, which comprises chilled fruits and vegetables, snacks, meat, poultry and seafood, and ready-to-cook meals, has grown significantly in recent years. Rapid rise in the number of modern retail and online grocery stores, and proper refrigeration facilities are the primary reasons for this development. Improved shelf-life and packaging of frozen foods has further propelled growth.
Some of the key players that operate in this market are Apex Frozen Foods Ltd., Godrej Agrovet Ltd., ITC Ltd., and Venky’s (India) Ltd.
Market insights:
Increase in the number of millennial and gen-Z consumers opting for convenience food, improved awareness, and acceptance of frozen food are some of the major factors that propelled market growth. In the wake of the pandemic, the e-commerce business has expanded, resulting in high demand for frozen food items. Development of the cold chain infrastructure and constant support from the government are further driving the market. However, inadequate cold storage and poor supply infrastructure hinder its expansion.
Segment insights:
Based on sales channel, the market is segmented into retailers, food service providers, and export. In terms of revenue, the export segment dominated the market, accounting for 44.62% of the overall revenue in 2020. The food service business was severely impacted due to COVID-19 in 2020, and the second and third quarter of 2021. Retailers is the fastest-growing segment because the demand for packaged French fries, burgers, and chicken snacks has picked up amid the pandemic.
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On June 8th, 2022, the Bureau of Economic Analysis and U.S. Census Bureau released a report detailing the recovery of the U.S. market and international trade. The report highlighted the significant growth in exports and imports, with exports reaching $300 billion in April 2022, an increase of $13.4 billion, and imports amounting to $294.5 billion, increasing by $17.4 billion. Despite the impact of COVID-19 on the global economy, the U.S. market is showing signs of recovery.
However, the Healthcare/ICT/Chemical industries are still feeling the effects of the pandemic, which is creating a large market for India Frozen Foods. As the recovery of the U.S. market continues, there will be a direct impact on these industries, and the demand for India Frozen Foods is likely to increase. The report highlights the need for businesses to stay informed about market trends and adjust their strategies accordingly to take advantage of emerging opportunities in this evolving landscape.
Intricacies of COVID-19 Impact Analysis:
The pandemic of COVID-19 has also reduced the availability of and demand for non-COVID-19-related medical treatment. A wide range of treatments, including emergency care for acute diseases, routine check-ups, and recommended cancer screenings, are being postponed or avoided by patients. Undiagnosed illnesses and a failure to intervene early will have serious long-term health consequences. COVID-19 has accelerated a variety of existing and emerging healthcare trends, including changing consumer attitudes and habits, the convergence of life science and health care, rapid advances in digital health technologies, and new talent and care delivery models, to name a few.
In-depth Analysis of the Russia-Ukraine War Impact:
Global industries were impacted by the Russia-Ukraine War, which started in February 2022. There have been widespread announcements of strict travel restrictions over Ukrainian airspace. The market in 2022 has been damaged by the Russia-Ukraine War.
The conflict between Russia and Ukraine raises defense spending and fortifies NATO nations’ armed forces. Due to Russia’s invasion, the majority of European nations have raised their defense budget. Germany earmarked USD 109 billion, which is more than the whole cost of the military in 2021, increasing its defense spending above 2% of GDP.
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Some Questions Answered in the India Frozen Foods Market Report:
- What is the projected size of the India Frozen Foods market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the India Frozen Foods industry?
- What are the major market trends that are affecting the expansion of the India Frozen Foods market?
- What obstacles must be overcome in order to achieve sustained growth in the India Frozen Foods market?
- What opportunities and threats do vendors in the India Frozen Foods Market face?
- What are the raw materials and manufacturing equipment used in the production of India Frozen Foods, and what is the manufacturing process?
- What are the different types and applications of India Frozen Foods, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the India Frozen Foods market?
- What factors are driving the growth of the India Frozen Foods market in the top regions worldwide?
- Who are the major players in the India Frozen Foods market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the India Frozen Foods market?
- What are the main findings of a five forces analysis of the India Frozen Foods market?
To gain a better understanding of market conditions, a Five Forces analysis is conducted, which includes an assessment of the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
Additionally, a PESTLE analysis is performed to evaluate the external factors that may impact the market:
- Political factors: This includes political policies and stability, as well as trade, fiscal, and taxation policies.
- Economic factors: Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates are all considered under this category.
- Social factors: Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles are taken into account when analyzing the social factors that may affect the market.
- Technological factors: Changes in digital or mobile technology, automation, research, and development are evaluated to determine the potential impact on the market.
- Legal factors: Employment legislation, consumer law, health and safety regulations, and international trade restrictions are among the legal factors that may affect the market.
- Environmental factors: Climate, recycling procedures, carbon footprint, waste disposal, and sustainability are all taken into consideration when assessing the potential impact of environmental factors on the market.
Our India Frozen Foods Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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