Market Size of Bangladesh Frozen Food Industry
Study Period | 2021 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2021 - 2022 |
CAGR | 7.10 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Bangladesh Frozen Food Market Analysis
Bangladesh's frozen food market is projected to register a CAGR of 7.1% over the next five years.
Fast-paced urban life, rising disposable incomes, an increase in the number of women in the workforce, resulting in a lack of time, and a preference for nuclear families are all significant reasons for Bangladeshi consumers' growing acceptance of frozen food.In addition, factors include rising disposable income in the country, the introduction of longer shelf-life products, increasing impulse purchasing, and a massive demand for frozen food products due to a lack of time. The frozen food market in Bangladesh 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 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.
Furthermore, changing consumer lifestyles have created numerous opportunities for manufacturers across industries. The increasing at-home socializing has led to the growing acceptance of western food across Bangladesh, thereby enabling the need for on-the-go foods and, in turn, enhancing the demand for frozen foods, including ready-to-eat and ready-to-cook products altogether, in turn driving the market.
Bangladesh Frozen Food Industry Segmentation
Frozen food is food that has been preserved at low temperatures and used over a long period of time. The Bangladesh Frozen Food Market is segmented by product category, type, and distribution channel. On the basis of product category, the market is segmented into ready-to-eat, ready-to-cook, ready-to-drink, and other frozen food types. By product type, the market is segmented into frozen fruits and vegetables, frozen meat and fish, frozen-cooked ready meals, frozen desserts, frozen snacks, and other applications. By distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, online channels, and others. The report offers market size and forecasts in value (USD million) for the above segments.
Product Category | |
Ready-to-Eat | |
Ready-to-Cook | |
Ready-to-Drink | |
Other Product Categories |
Product Type | |
Frozen Fruits & Vegetables | |
Frozen Meat and Fish | |
Frozen-Cooked Ready Meals | |
Frozen Desserts | |
Frozen Snacks | |
Other Product Types |
Distribution Channel | |
Supermarkets/Hypermarkets | |
Convenience Stores | |
Specialty Stores | |
Online Retail Stores | |
Other Distribution Channels |
Bangladesh Frozen Food Market Size Summary
The frozen food industry in Bangladesh is experiencing significant growth, driven by urbanization, rising disposable incomes, and changing consumer lifestyles. The increasing number of women in the workforce and the preference for nuclear families have led to a greater acceptance of frozen foods, as they offer convenience and time-saving solutions for busy consumers. The market is further bolstered by the availability of traditional favorites in frozen formats and the introduction of longer shelf-life products. This trend is supported by the growing exposure of urban consumers to frozen food products in quick-service restaurants and food stalls, which has expanded the consumer base for frozen foods. The demand for ready-to-eat and ready-to-cook products is on the rise, as more consumers seek easy-to-prepare international cuisines, contributing to the market's expansion.
The frozen food sector in Bangladesh is also seeing increased production, distribution, and exports, with frozen shrimp being a principal export product. The industry has become a significant player in the country's export trade, with major markets including the United States, the United Kingdom, Belgium, the Netherlands, and Germany. Leading companies such as Golden Harvest and Pran are expanding their market presence through strategic initiatives, including the introduction of international brands like McCain. The market is characterized by a consolidated structure, with key players like AG Foods Ltd., Kazi Farms Group, and others dominating the landscape. The growth of the frozen food industry is further supported by the expansion of selling points, deeper penetration by organized retail players, and increased freezer space in retail channels, making frozen foods a popular choice among Bangladeshi consumers.
Bangladesh Frozen Food Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product Category
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2.1.1 Ready-to-Eat
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2.1.2 Ready-to-Cook
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2.1.3 Ready-to-Drink
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2.1.4 Other Product Categories
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2.2 Product Type
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2.2.1 Frozen Fruits & Vegetables
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2.2.2 Frozen Meat and Fish
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2.2.3 Frozen-Cooked Ready Meals
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2.2.4 Frozen Desserts
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2.2.5 Frozen Snacks
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2.2.6 Other Product Types
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2.3 Distribution Channel
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2.3.1 Supermarkets/Hypermarkets
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2.3.2 Convenience Stores
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2.3.3 Specialty Stores
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2.3.4 Online Retail Stores
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2.3.5 Other Distribution Channels
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Bangladesh Frozen Food Market Size FAQs
What is the current Bangladesh Frozen Food Market size?
The Bangladesh Frozen Food Market is projected to register a CAGR of 7.10% during the forecast period (2024-2029)
Who are the key players in Bangladesh Frozen Food Market?
Golden Harvest Agro Industries Ltd, Pran-Rfl Group Ltd, McCain Foods, AG Agro Foods Limited and Kazi Farms Group are the major companies operating in the Bangladesh Frozen Food Market.