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Market Overview
The Bangladeshi frozen food market is expected to reach USD 420.48 million by 2024, registering a CAGR of 6.2% during the forecast period (2019 - 2024).
- The fast-paced urban life, rising disposable incomes, increasing number of women in the workforce, and resultant shortage time, along with the preference for nuclear families are major reasons for the growing acceptance for frozen food among Bangladeshi consumers.
Scope of the Report
The scope of the market study includes the segmentation by product type, such as frozen meat and seafood, frozen desserts, frozen ready meals, frozen snacks, and other product types. By distribution channel, the market is categorized into hypermarkets/supermarkets, traditional stores, online stores, and other distribution channels, such as specialty stores, kiosks, etc.
Key Market Trends
Rapidly Growing Demand for Ready-to-Eat Food and Beverage Products
A rise in the demand for all forms of convenience food and beverage products is being witnessed, owing to busy lifestyles and increasing number of working population in Bangladesh. The changing food consumption pattern in consumers, due to the rapid expansion of urbanization and rise in disposable incomes in the country, is one of the factors contributing to the growth of ready-to-food and beverage products. Owing to the increased demand for frozen food, leading companies, like Golden Harvest and Pran, are opting for the expansion strategy to expand their market presence and consumer bases. Frozen fruit and vegetable products are perceived to be healthy by the local consumers, as they contain more nutrients than preserved food products.
Online Sales Channel Witnessed the Fastest Growth Rate
Frozen food sold through online retail represents a small segment of the market, but is expected to be among the fastest-growing segments. The urban population in Dhaka and other parts of Bangladesh have slowly started preferring online channels, as it is hassle-free, convenient, less time-consuming, and consumers get a larger variety of goods to choose from. E-commerce players, like Chaldal, Parmeeda, Priyoshop, Shwapno, Othoba, Daraz, etc., are some of the major players in the Bangladeshi market. Many online channels provide an option for same-day delivery, which increases their brand value, thereby increasing the market penetration.
Competitive Landscape
The Bangladeshi frozen food market is highly fragmented, owing to the strong presence of numerous local and international players. The raw material suppliers are either farmers or middlemen, who transfer farm supplies to the frozen food manufacturers. Some of the prominent players in the country include Golden Harvest, Pran RFL Group, AG Foods Ltd, Frozen Foods Ltd, Kazi Farms Group, and McCain Foods, among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
The Bangladeshi frozen food market is expected to reach USD 420.48 million by 2024, registering a CAGR of 6.2% during the forecast period (2019 - 2024).
- The fast-paced urban life, rising disposable incomes, increasing number of women in the workforce, and resultant shortage time, along with the preference for nuclear families are major reasons for the growing acceptance for frozen food among Bangladeshi consumers.
Scope of the Report
The scope of the market study includes the segmentation by product type, such as frozen meat and seafood, frozen desserts, frozen ready meals, frozen snacks, and other product types. By distribution channel, the market is categorized into hypermarkets/supermarkets, traditional stores, online stores, and other distribution channels, such as specialty stores, kiosks, etc.
Key Market Trends
Rapidly Growing Demand for Ready-to-Eat Food and Beverage Products
A rise in the demand for all forms of convenience food and beverage products is being witnessed, owing to busy lifestyles and increasing number of working population in Bangladesh. The changing food consumption pattern in consumers, due to the rapid expansion of urbanization and rise in disposable incomes in the country, is one of the factors contributing to the growth of ready-to-food and beverage products. Owing to the increased demand for frozen food, leading companies, like Golden Harvest and Pran, are opting for the expansion strategy to expand their market presence and consumer bases. Frozen fruit and vegetable products are perceived to be healthy by the local consumers, as they contain more nutrients than preserved food products.
Online Sales Channel Witnessed the Fastest Growth Rate
Frozen food sold through online retail represents a small segment of the market, but is expected to be among the fastest-growing segments. The urban population in Dhaka and other parts of Bangladesh have slowly started preferring online channels, as it is hassle-free, convenient, less time-consuming, and consumers get a larger variety of goods to choose from. E-commerce players, like Chaldal, Parmeeda, Priyoshop, Shwapno, Othoba, Daraz, etc., are some of the major players in the Bangladeshi market. Many online channels provide an option for same-day delivery, which increases their brand value, thereby increasing the market penetration.
Competitive Landscape
The Bangladeshi frozen food market is highly fragmented, owing to the strong presence of numerous local and international players. The raw material suppliers are either farmers or middlemen, who transfer farm supplies to the frozen food manufacturers. Some of the prominent players in the country include Golden Harvest, Pran RFL Group, AG Foods Ltd, Frozen Foods Ltd, Kazi Farms Group, and McCain Foods, among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
