Market Trends of Asia-Pacific Frozen Food Industry
This section covers the major market trends shaping the APAC Frozen Food Market according to our research experts:
Rising Inclination Towards Convenience Food
Owing to fast-paced lifestyles and the need for a quick meal or snack among adults, there has been a growing demand for healthy and convenient food that can be consumed instantly. Frozen food products are considered beneficial as most of them can be cooked within less time for consumption. These factors have been propelling the market growth. Ready-to-cook frozen foods such as canned seafood, instant vegetable mix, rice dishes, and noodles are extremely popular among millennial consumers as these items are half-prepared and require minimum cooking time. Moreover, key brands have provided consumers with large varieties of frozen food, wherein much of the preparation work has been done outside the home. This development has been facilitated by technological innovations in preservation, packaging, freezing, artificial flavorings and ingredients, and by using microwaves. For instance, in September 2020, SABIC, a leading manufacturer of diversified chemicals, launched a new packaging solution for frozen food, featuring a new grade of PE(polyethylene) with innovative film production technology. Further, the company claims that the new packaging solution is 100% recyclable and offers better visibility of packaged frozen food products due to higher light transmission.
Retail Sales through Online Stores is Expanding at Highest CAGR
The convenience associated with online transactions has increased the reliance on this retail channel. Consumers can compare various options and purchase the required product at the convenience of their homes. Further, online platforms offer various discounts, along with a wide assortment of frozen snacks. These product offerings include frozen snacks ranging from frozen potato fries, wedges, pizzas, croissants, fish cakes, squid rings, frozen momos, and many more. Alongside this, the major frozen snack manufacturers are partnering with e-commerce platforms to acquire a wider consumer base. For instance, in April 2022, Prasuma, an Indian frozen food brand, launched a new line of frozen food snacks including chicken nuggets, veg, and chicken spring rolls, veg and chicken mini samosas, kababs, and bacon, among others. The company has made these products available in more than 70 cities of India through its retail partners such as Swiggy Instamart, Nature's Basket, Walmart, and Meatigo.com.
