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Report
Pakistan Frozen Food - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 80 Pages I Mordor Intelligence
The Pakistan Frozen Food Market size is estimated at USD 730.23 million in 2024, and is expected to reach USD 968.48 million by 2029, growing at a CAGR of 5.81% during the forecast period (2024-2029).
Key Highlights
-The convenience factor and the rising demand for animal-based products, such as kebabs, parathas, meatballs, and sausages, primarily drive the frozen food market in Pakistan. The retail marketing of packaged foods in Pakistan has been shifting towards modern retail channels like supermarkets and hypermarkets. This trend has been driven by several factors, including the growth of the urban population, changing lifestyles, and increased disposable income.
-Supermarkets and hypermarkets offer a wide range of products, including global brands and packaged foods. This has made it easier for consumers to access a diverse range of frozen food products. Moreover, these modern retail channels have facilitated the distribution process, making it easier for manufacturers to reach a larger customer base.
-In the upcoming years, demand for frozen food products will rise even more owing to the increased preference for frozen fruits and vegetables over fresh food among millennials and Gen Z. Sales of frozen fruits and vegetables will also increase due to the retention of vitamins and minerals in contrast to their fresh counterparts, over the time period they lose vitamins and other nutritious elements.
-Furthermore, the growing trend for clean-label products is increasing consumer preference toward clean-label frozen food products in the market. Gluten-free and low-carb products also make up strong subsets within the frozen categories. However, the 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.
Pakistan Frozen Food Market Trends
Rising Demand for Convenience Food
- Robust demand for convenience food in the country has increased owing to major factors such as growing urbanization, time-pressed schedules, and women joining the workforce. Pertaining to the growing working-class population and evolving consumer lifestyle, a notable rise is observed in the expenditure for convenience food products, such as frozen foods. Urban consumers of Pakistan have shown huge interest in products offering greater convenience against price. Thereby, the growing preference for convenience over price is a major factor fuelling the market growth.
- Meanwhile, younger consumers with disposable incomes are more likely to try new products (many of which are convenient food products) and have non-traditional eating habits. In addition, they eat out more often, which is burgeoning the demand for frozen food across the country. Furthermore, the development or innovation of frozen food products, including pizza, sausages, plain chicken, and other frozen food items with low fat, low cholesterol, whole wheat, and artificial components, is also anticipated to increase demand in the country.
- Owing to fast-paced lifestyles and the need for a quick meal or snack among adults, there has been a growing demand for healthy and convenient food that can be consumed instantly. Frozen food products are considered to provide that benefit as most of them can be cooked within less time for consumption. These factors have been propelling the market growth.
Expanding Packaged Food Category is Benefitting Frozen Food Market
- A surge in sales of packaged food products, as rising disposable incomes and a growing middle class often lead to an increase in consumer spending on convenience products like packaged foods. The growth of organized retail and e-grocery is also a significant driver of packaged food sales in Pakistan, as these distribution channels make it easier for consumers to access and purchase a wide variety of packaged food products, including frozen foods.
- Meanwhile, 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 being halal-certified.
- 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 low fat and no added preservatives.
- Another perk associated with frozen meals is that they are free from contamination, thus, becoming an attractive alternative among consumers, boosting sales of the segment.
Pakistan Frozen Food Industry Overview
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. 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.
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.
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 Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 PK Meat & Food Company
6.3.2 Multi Food Industries
6.3.3 Dawn Foods
6.3.4 McCain Foods
6.3.5 K&N's
6.3.6 Icepac Limited
6.3.7 Seasons Foods
6.3.8 Al-Shaheer
6.3.9 Big Bird
6.3.10 Frozen Fresh
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