Pakistan Frozen Food Market 2019 Size, Trends, and Application with Top Key Players
The Pakistan frozen food market is forecasted to reach USD 726 million by 2024 growing at a CAGR of 5.8% during the forecast period (2019-2024). The frozen food market in Pakistan is preliminarily driven by the convenience factor and the rising demand for animal-based products, such as kebab, parathas, meatballs, sausages, etc. While, lack of infrastructure, in terms of efficient cold chain and retail-level inefficiencies, is considered as 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 supermarket/ hypermarket. The modern retail channels, with wide availability of products across regional/global brands, have gained popularity. These superstores have facilitated the process of distribution, easing the process for multi-channel marketing for frozen food products.
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Competitive Landscape
K&Ns, 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 innovative product portfolio. Other prominent players in the Pakistan frozen food market include PK Frozen Foods Pvt Ltd, which was launched in the Karachi market in 2011.
Scope of the Report
The frozen food market in Pakistan comprises majorly meat and seafood followed by fruit and vegetable, ready meal, snacks and other frozen products. By distribution channel, the market includes hypermarket/supermarket, convenience stores, online channel, and traditional stores.
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Key Market Trends
Rising Demands for Convenience Foods
Robust demand for convenience foods in Pakistan has arisen from 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 the 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, and Islamabad-Rawalpindi. The convenience factor associated with freezing is poised to create significant impact spanning different sectors of processed foods and agri-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 to Register Highest Growth Rate
Frozen ready meals are a convenient alternative to cooking and are, therefore, increasingly preferred by the growing working population in the country. In order to gain consumer’s interest by targetting religious beliefs, companies like PK foods, National Foods, 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. Further, the growing concerns about obesity and other lifestyle-related diseases have urged consumers to pay close attention to nutritional labelling leading manufacturers to introduce meals with value-added nutrients and claims such as fewer preservatives, less fat, etc
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