Asia-Pacific Frozen Snacks Market Growth, Size, Share and Forecast 2020-2026

 

Asia-Pacific frozen snacks market is estimated to grow at a CAGR of 8.4% during the forecast period. The significant availability of millennials is one of the major factors in accelerating market growth. As per the Organization for Economic Cooperation and Development (OECD), the percentage of the working-age population (15-64) in Japan was 59.7% in 2018, whereas, in India, it was 66.4% in 2018. Millennial population highly consumes ready-to-eat foods owing to the easy availability and nutrition values. Additionally, a significant focus on marketing campaigns is also supporting the adoption of frozen snacks in millennials. For instance, Additionally, in July 2020, Domino’s Pizza India revealed its new digital campaign known as “kitne dino se Domino’s nahi khaya” which intends to reinforce the feeling of trust and safety while ordering from Domino’s.

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Across all its 1,325 restaurants in the country, Domino’s Pizza has Zero Contact Delivery which represents that customers will get their orders without coming in contact with the delivery staff. Further, in November 2019, Domino’s Pizza India revealed its new campaign ‘Dil, Dosti, Domino’s’ which is intended to reinforce the emotional association with the consumers by developing memorable and tasty moments of togetherness with the new tagline “Dil, Dosti, Domino’s. This aims to attract a large number of pizza lovers, which in turn, is driving the demand for frozen snacks in the country. Such marketing initiatives are encouraging the adoption of frozen snacks in the country.

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Scope of the Asia-Pacific Frozen Snacks Market

Market Coverage

• Market number available for 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- By Product and Distribution Channel
• Countries Covered- China, India, Japan, and Rest of Asia-Pacific
• Competitive Landscape- General Mills, Inc., McCain Foods Ltd., Amy’s Kitchen, Inc., and Nestlé S.A.

Recent Strategic Initiatives in the Asia-Pacific Frozen Snacks Market

• In April 2019, CJ CheilJedang Corp. declared the launch of its first integrated food plant in Vietnam for commercial production by the end of June 2019. This, in turn, will support the company to capture a potential share in Vietnam frozen foods market.
• In June 2018, Amy’s Kitchen Inc., declared the plans for the establishment of a manufacturing unit in India in the next few years as it is planning to develop the country as a processing hub for exports. Apart from serving demand, the company can also be the processing hub for exports to Australia, Japan, Thailand, and West Asian countries.

Key questions addressed by the report

• What is the market growth rate?
• Which segment dominates the market in the base year?
• Which segment will project the fastest growth in the market?
• How COVID-19 impacted the market?

o   Recovery Timeline

o   Deviation from the pre-COVID forecast

o   Most affected segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

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Asia-Pacific Frozen Snacks Market-Segmentation

By Product

• Pizza
• Potato Fries
• Puffs
• Meat Snacks
• Others

By Distribution Channel

• Retail
• Food Service Chain

Asia-Pacific Frozen Snacks Market– Segment by Country

• China
• India
• Japan
• Rest of Asia-Pacific

Company Profiles

• Amy's Kitchen, Inc.
• CJ CheilJedang Corp.
• Convenio Foods International Pvt. Ltd.
• Dr. August Oetker Nahrungsmittel KG
• FROZIT
• General Mills Inc.
• Iceland Foods, Ltd.
• McCain Foods, Ltd.
• Nestlé S.A.
• Taj Frozen Foods India Ltd.

 

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