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Report
Pakistan Frozen Food Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 80 Pages I Mordor Intelligence
The Pakistani frozen food market is recording a CAGR of 3.58% during the forecast period (2022-2027).
Consumers had to change their eating habits in the past few months because many restaurants temporarily closed their doors as an effect of the COVID-19 pandemic. Consumers started paying more attention to consuming healthy food. The outbreak resulted in the sudden increase in demand for frozen fruits and vegetables, as they have a higher shelf life, higher nutritional content, and are easy to prepare at home. On the supply side, companies struggled to meet this demand due to labor and logistics capacity issues. In several major production areas, manpower is not available. Limited vehicular movement and fear of infections are the major reason for the labor shortage. Also, the restriction on sea transport and the lack of air freight and ocean freight are facing a shortage in containers. This has resulted in the export of products from developing countries.
The frozen food market in Pakistan is preliminarily driven by the convenience factor and the rising demand for animal-based products, such as kebabs, parathas, meatballs, and sausages. Meanwhile, lack of infrastructure, in terms of efficient cold chain and retail-level inefficiencies, is considered a major hurdle for the frozen food industry in Pakistan.
Retail marketing of packaged foods is gradually transforming from a large number of convenience stores or grocery stores to supermarkets/hypermarkets. The modern retail channels, with the wide availability of products across regional/global brands, have gained popularity. These superstores have facilitated the process of distribution, easing the process of multi-channel marketing for frozen food products.
Pakistan Frozen Food Market Trends
Rising Demand for Convenience Food
Robust demand for convenience food in Pakistan has increased, due to major factors, such as growing urbanization, time-pressed schedules, and women joining the workforce. Urban consumers of Pakistan have shown greater interest in products offering greater convenience against higher prices. Thus, the growing preference for convenience over price is a major driving factor for the growth of frozen foods in Pakistan. The process of economic empowerment has given rise to an affluent middle class, particularly in the metropolitan areas of Pakistan, such as Karachi, Lahore, Faisalabad, Islamabad, and Rawalpindi. The convenience factor associated with freezing is poised to create a significant impact spanning different sectors of processed foods and agricultural commodities in Pakistan. Moreover, with an increase in the number of women entering the workforce, the demand for convenient frozen products has hiked exponentially.
Frozen Ready Meal is Expected to Register the Highest Growth Rate
Frozen ready meals are a convenient alternative to cooking and are increasingly preferred by the growing working population in the country. In order to gain consumers' interest by targeting religious beliefs, companies like PK foods, National Foods, and UK Frozen foods are positioning their frozen ready meal products with claims such as halal-certified. Another perk associated with frozen meals is that they are free from microbial attacks, thus, becoming an attractive alternative among consumers, boosting sales of the segment. Furthermore, the growing concerns about obesity and other lifestyle-related diseases have urged consumers to pay close attention to nutritional labeling, leading manufacturers to introduce meals with value-added nutrients and claims, such as fewer preservatives and less fat.
Pakistan Frozen Food Market Competitor Analysis
K&N's, Dawn Foods, and Seasons Foods are few players active in the frozen food market in Pakistan. Key players in the market are trying to gain a competitive advantage over other players by introducing an innovative product portfolio. Another prominent player in the Pakistani frozen food market is PK Frozen Foods Pvt. Ltd. The primary strategy adopted by the company is the transparency it has maintained, particularly in terms of processing. The company has mentioned each detail noted at every level of production on its online website. In order to maintain transparency, the companies also declared the standards it is certified under, such as ISO and halal certification. This gives consumers a sense of satisfaction regarding the products they are consuming. The companies are also engaged in vertical integration, carrying out all operations in-house. They also invested in new products, packaging, and marketing via online channels to keep consumers interested in the brand.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Category
5.1.1 Ready-to-eat
5.1.2 Ready-to-cook
5.1.3 Ready-to-Drink
5.1.4 Other Product Categories
5.2 By Product Type
5.2.1 Frozen Fruits and Vegetables
5.2.2 Frozen Meat and Fish
5.2.3 Frozen-cooked Ready Meals
5.2.4 Frozen Desserts
5.2.5 Frozen Snacks
5.2.6 Other Product Types
5.3 By Freezing Technique
5.3.1 Individual Quick Freezing (IQF)
5.3.2 Blast freezing
5.3.3 Belt freezing
5.3.4 Other Freezing Techniques
5.4 By Distribution Channel
5.4.1 Supermarkets/Hypermarkets
5.4.2 Convenience Stores
5.4.3 Specialty Stores
5.4.4 Online Stores
5.4.5 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 PK Meat & Food Company
6.4.2 Multi Food Industries
6.4.3 Dawn Foods
6.4.4 McCain Foods
6.4.5 K&N's
6.4.6 Icepac Limited
6.4.7 Seasons Foods
6.4.8 Al-Shaheer
6.4.9 Big Bird
6.4.10 Frozen Fresh
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
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