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

 

The Indian frozen snacks market is estimated to grow at a CAGR of 8.5% during the forecast period. The demand for innovative frozen snacks has been witnessed in the country owing to the significant availability of the younger population and increasing disposable income. As per the World Bank, India’s GDP per capita rose from $2,006 in 2018 to $2,104 in 2019. The increasing disposable income is driving spending on costly snacks with innovative taste and texture. This, in turn, is leading to the increasing consumption of frozen snacks in the country. With the growing opportunity in the frozen snacks category, the manufacturers are focusing on expanding their share in the country. For instance, in October 2019, Bengaluru-based Innovative Foods Ltd. which markets frozen food products under the brand name, known as Sumeru, declared that it is looking to capitalize on the innovative disruptions it is bringing in. At Sumeru, the company has launched momos and ready-to-eat millet khichdi. Additionally, it offers products including frozen peas and corn. Under the Happy Treats frozen potato snacks category, Amul offers frozen snacks including potato wedges, Aloo Tikki, Veggie Stix, and French fries.

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Scope of the Indian Frozen Snacks Market

Market Coverage

• The market number available for 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- By Product and Distribution Channel
• Competitive Landscape- General Mills Inc., Nestlé S.A., CJ CheilJedang Corp., and Tyson Foods, Inc.

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Recent Strategic Initiatives in the Indian Frozen Snacks 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.
• In October 2019, Foods & Inns, mango, guava pulp, and frozen snacks manufacturer declared the acquisition of Kusum Spices. Under the agreement, Foods & Inns will enter into collaboration with a share of 99.9% with Kusum Spices, which is in the branded spice business under the 'Kusum Masala' brand.

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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Indian Frozen Snacks Market-Segmentation

By Product

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

By Distribution Channel

• Retail
• Food Service Chain

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.

 

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