Market Trends of Asia Pacific Frozen Snacks Industry
This section covers the major market trends shaping the APAC Frozen Snacks Market according to our research experts:
Popularity of Shelf-stable Food Products
Over the years, the demand for various canned food including freeze-dried snacks has grown tremendously in the region, owing to factors such as busy lifestyles, availability of multiple products under different brands, and improved supply chain infrastructure and logistics services for frozen snacks. Working populations is highly inclined towards frozen snacks due to the high shelf life of products and the requirement of minimal processing before consumption. Additionally, the growing preference for healthy snacking is promoting sales growth of various freeze-dried fruits in the market as the fiber, vitamin C, and nutrients from the original fruit are retained in larger amounts compared to other drying technology. Moreover, the market growth is influenced by the rising adoption of Western-style diets among millennial consumers, which in turn has boosted the demand for popular U.S. and European snack products, such as frozen burger patties, nuggets, sausages, french fries, and pizzas. As a result, key brands are enhancing their production capacity and manufacturing technologies. For instance, in December 2020, McCain Foods announced the construction of a second processing plant for its potato-based frozen products in China. The company invested around USD 200 million in the new plant, located in the Yangling Agriculture Hi-Tech Development Zone, Shaanxi Province.
India is the Fastest Growing Market
The frozen snacks market in India is being driven by urban consumers who have been exposing themselves to similar products in Quick-Service Restaurants (QSRs), food stalls, and kiosks, among others. Furthermore, the growing availability of traditional favorites such as samosas, cutlets, and momos in frozen formats has attracted a growing consumer base over the past few years, thereby driving the growth of the market over the review period. Additionally, the increasing internet penetration in the country and the rising trend of purchasing groceries through online distribution channels are expected to push the demand for frozen snacks in India. Many private labels are offering a variety of freeze-dried foods through online channels to cater to market demand. For instance, in 2021, Saraf Foods, a Vadodara-based small-to-medium-sized food-processer specializing in air-drying, freeze-drying, and individually quick-frozen technology (IQF) announced its plans to expand its portfolio of freeze-dried fruits. The company offers freeze-dried fruits, vegetables, herbs and spices, including bananas, mangoes, sapota (chiku), sweet corn, green peas, onion, bitter gourd, and green peppercorn by means of online portals.
