Asia-Pacific Frozen Food (Potato, Fruit & Vegetable, Ready Meal, Meat & Poultry, Seafood/Fish) Market Outlook, 2027

Asia-Pacific Frozen Food (Potato, Fruit & Vegetable, Ready Meal, Meat & Poultry, Seafood/Fish) Market Outlook, 2027

Asia-Pacific is considered a region with the largest population and is viewed as a promising market for the adaption of frozen food products. The market for frozen foods in Asia-Pacific region is mainly driven due to factors like rising demand from emerging economies, constant product innovation, and attractive packaging that are helping the frozen food market attain a high growth rate. The market growth can be restricted due to issues like inadequate distribution facility in semi-urban and rural areas, along with lack of proper refrigeration facility in retail stores.

The report entitled “Asia-Pacific Frozen Food Market Outlook, 2027” gives a comprehensive analysis of frozen food market of Asia Pacific. The growth of the frozen food market is rising in response to an increase in demand, which was started in the western and outspread in the other parts of the world. The development of frozen food in the Asia Pacific is driven by the ease of cooking with the increasing workforce in the countries. Companies are coming up with new cuisines and varieties of the product range along with development and improvement in items such as low fat and low trans fat which attracts health-conscious people towards the frozen food category. The market in this region has been mainly derived by countries like India, China, Japan, Australia, etc. The region's frozen food market has crossed USD 58 Billion in 2021, which has been strongly dominated by the revenue generated from China. Even though, China being the dominating market, India's adaption of frozen foods posed the fastest growth during the upcoming timeframe.

Japan and China currently hold the largest market size in the region in revenue terms on account of their well-established and expanding cold chains. On the other hand, the Indian frozen food market is projected to grow at the highest rate during the forecast period in the Asia Pacific region owing to its increasing working-age population and the booming FMCG sector in the region. Additionally, government initiatives of developing countries to bridge the gap between food demand and supply, such as subsidies offered on particular products would boost the market for frozen food in the region over the coming years.

Considering the form of frozen food products in the region, frozen meat products generate the highest revenue and very much popular among consumer diets. In recent years, with changing consumers' attraction towards convenience and on the go foods preference towards frozen ready meals has increased. This is due to the increase in the working population and the want of receiving proper nutrition quickly. Consumption of frozen food products has largely derived by commercial segments. These segments include the hotel chains and restaurants that store the product in bulk to serve the food in a quick time. The expansion of frozen food is mainly happening through the supermarket, hypermarket which accounts for the majority of sales in the Asia Pacific region. However, the latest trends of purchasing from online grocery stores due to an increase in the penetration of smart-phones and the internet have also affected the market.

The interest in the Asia Pacific frozen food market is developing as the number of women working around the zone increments, alongside their bustling schedules. The expansion in the number of laborers and furious work routines, the accommodation of the dynamic way of life and the expanded interest for RET foods are the primary drivers of development in the local market. Frozen foods are reasonable for progressively expanded times of capacity without breakdown, and demand is developing each day. Likewise, a few kinds of food are promptly accessible, which is relied upon to build requests much more. Populace development is probably going to positively affect the general interest for items, particularly with rising degrees of extra cash in rising areas across the Asia Pacific region. Additionally, the accessibility of a few item variations can prompt expanded interest during the estimated time frame. As the desires for quality food customers have heightened, China, India and Japan have been the main markets for food utilization.

Further, the trend of consumption of convenience food began in western world and spread to other regions rapidly. Looking at the economic development at global level and specifically for BRIC countries, the increasing purchasing power of consumers, convenience trends are likely to remain significant. The increasing consumption of convenience food is driven by this desire to create more leisure time which means that consumers like to maximize their free time along with their disposable income and spend more time doing the things they value more. The frozen food is considered convenient as there is no need to put in efforts in washing, or in case of frozen fruits & vegetable which doesn’t require peeling and cutting. Moreover, increasing population and rising demand for ready-to-eat meals from emerging economies such as India, China, and Japan would boost the market growth. However, the presence of large unorganized industry participants and the high cost of maintenance and cryogenic logistics would restrain the market growth over the next six years.

Covid-19 Impacts:
COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then it has spread across the globe at a fast pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst affected countries in terms of confirmed cases and reported deaths as of March 2020. The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The overall market breakdown due to COVID-19 is also affecting the growth of the frozen fruits market due to shutting down of factories, obstacle in supply chain, and downturn in world economy. However, the pandemic has boosted the demands for essential healthy food intake which is anticipated to propel the market growth.

Major companies present in the market
Aryzta AG., General Mills Inc., Kraft Heinz Company, Ajinomoto Co. Inc, Cargill Incorporation, Nestle S.A., Kerry Group, Grupo Bimbo S.A.B. De C.V, Mccain Foods Limited, Tyson Foods, Inc., Kellogg Company, JBS S.A, Hormel Food, Rich Product Corporation, Al Kabeer Group

Considered for the report:
-Geography: Asia-Pacific
-Historic year: 2016
-Base year: 2021
-Estimated year: 2022
-Forecasted year: 2027

Aspects covered in this report
- Asia-Pacific frozen foods market with its value and forecast along with its segments
-Country-wise frozen foods market analysis
-Various divers and challenges
-Ongoing trends and developments
-Five force models
-Top profiled companies
-Strategic recommendation

Countries covered in the report
-China
-India
-Japan
-Australia

By Product Type
-Frozen potato
-Frozen fruits & vegetable
-Frozen ready meal
-Frozen meat & poultry
-Frozen fish & seafood

By End User
-Commercial
-Residential

By Sales Channel
- Supermarket /modern retail/ hypermarket
-Independent Retailers / Departmental /convenience store
-On-line Shop

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering, the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to the frozen food products industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.