Asia Pacific Frozen Food Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Type and Distribution Channel

The frozen food market in Asia Pacific is expected to grow from US$ 71.02 billion in 2022 to US$ 106.30 billion by 2028; it is estimated to grow at a CAGR of 7.0% from 2022 to 2028.

The growth of the Asia Pacific frozen food market is mainly attributed to strategic development initiatives by frozen food manufacturers in this region. They are making significant investments in product innovation with the aim of expanding their customer base and meeting emerging consumer trends. They are launching gluten-free, plant-based, sugar-free, organic, and clean-labeled products, as well as products suitable for a keto diet, which meet the varied requirements of consumers. In 2022, Prasuma, an Indian leading brand offering frozen food, launched frozen snack varieties, including frozen veg and chicken spring rolls, frozen chicken nuggets, chicken and veg mini samosas, chicken and mutton shami kebabs and seekh kebabs, along with bacon options. These products were launched to help consumers stay on track with their health goals while enjoying their meals. Such product innovations help companies extend their reach and gain a competitive edge in international markets.

Frozen food manufacturers are also adopting strategies such as business expansion and production capacity scaleup to better serve their customers. Some are also collaborating and partnering with other market players. These developments are creating lucrative growth opportunities in the frozen food market players.

Asia Pacific Frozen Food Market Segmentation

The Asia Pacific frozen food market is segmented on the basis of type, distribution channel, and country.

• Based on type, the market is segmented into frozen desserts; frozen bakery; frozen meat, poultry, and seafood; frozen ready meals; frozen snacks and appetizers; and others. The meat, poultry, and seafood segment is expected to hold the largest market share during the forecast period.
• Based on distribution, the Asia Pacific frozen food market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The online retail segment is projected to register the highest CAGR in the market due convenience associated with online buying and product delivery options.
• Based on country, the Asia Pacific frozen food market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The Rest of Asia Pacific held the largest market share in 2022.

Bellisio Foods, Inc.; Bonduelle Group; General Mills; Kellogg’s Company; McCain Foods Limited; Nestle S.A.; The Kraft Heinz Company; and Tyson Foods, Inc. are among the leading companies in the frozen food market in the region.