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China's frozen market to reach USD52.1 billion in 2027

Source:ResearchAndMarkets.com via BusinessWire     Date:2022-04-20
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A new report from ResearchAndMarkets.com has forecast the China market for frozen foods to grow to USD 52.1 billion in 2027: "China Frozen Food Market, Size, Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis"

 

As the pace of life becomes more instantaneous in China, the frozen foods industry will continue to grow.  Chinese consumers, specifically white-collar workers, often prefer the convenience and differentia of frozen foods.

 

The rapid development of the cold chain also helps frozen food brand radiation range to expand. Besides, the development of the cold chain is promoting frozen food companies to improve the quality and flavour of their products in the frozen food market. Hence, we expect the Chinese cold chain to expand and continue to expand during 2021-2027.

Product type: Frozen Fish/seafood account for largest market share

Various local cuisines are made into frozen food, such as frozen fish/seafood, meat, ready meals, potato products, bakery products, and pizza. As per the analysis, the product's market scale, will grow steadily in the forthcoming years. The increased consumer spending on cold-stored food is expected to expand the Chinese Frozen Food market in the near future. Thereon, frozen fish/seafood holds the lion's share in the local frozen food industry, with the increasing consumer choice towards frozen fish/seafood being as nutritious as fresh. Moreover, frozen fish/seafood can be preserved longer than fresh produce that succumbs to vitamins and minerals over time.

Frozen food market to expand with a CAGR of 11.9% during 2021-2027

The frozen industry occupies a considerable position in the food market in China. Today, Millennials have a dynamic lifestyle with less time available for cooking. Hence, the convenience of frozen food is one of the critical factors estimated to keep propelling the frozen food industry growth over the forecast period. Also, most Chinese families use refrigerators which enable them to follow the pace of modern life. Consequently, frozen food will naturally come into Chinese grocery lists. In the future, product innovation and logistic infrastructure evolution are expected to boost the sector further.

Frozen foods gaining popularity

By consumers, the report has covered the Household and Catering Service Industry among the top users of frozen foods, including the objective of frozen foods to aid the cooking process and elongate the shelf life. Moreover, frozen foods are growing in popularity as consumers are concerned about spoilage of fresh food. Notwithstanding, frozen food is considered an imperative component of the meals cooked and served in Household and Catering Service. Further, the overall distribution channel development existing in the realms of the frozen food industry in China is boosting the market expansion readily.

Online distribution channel to gain huge market share

Today, Chinese consumers are increasingly shopping through offline and online distribution channels. The offline channel accounts for a significant share throughout. The availability of infrastructures like freezing and temperature-controlled outlets makes offline distribution channels a dominant distribution channel for frozen products in China. However, with the growing penetration of the Internet and smartphone usage, the online distribution channel is gaining traction as one of the major platforms to showcase and sell frozen food products. As per the analysis, the online distribution channel is estimated to gain a considerable market share during 2021-2027.


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