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Market Research Report

Bangladesh Frozen Food Market - Growth, Trends and Forecast (2019 - 2024)

Published by Mordor Intelligence LLP Product code 850137
Published Content info 88 Pages
Delivery time: 2-3 business days
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Bangladesh Frozen Food Market - Growth, Trends and Forecast (2019 - 2024)
Published: April 1, 2019 Content info: 88 Pages
Description

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
Table of Contents
Product Code: 62149

Table of Contents

1 INTRODUCTION

  • 1.1 Study Deliverables
  • 1.2 Study Assumptions
  • 1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

  • 3.1 Market Overview

4 MARKET DYNAMICS

  • 4.1 Market Drivers
  • 4.2 Market Restraints
  • 4.3 Market Trends
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Threat of New Entrants
    • 4.4.2 Bargaining Power of Buyers/Consumers
    • 4.4.3 Bargaining Power of Suppliers
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

  • 5.1 By Product Type
    • 5.1.1 Frozen Meat and Sea Food
    • 5.1.2 Frozen Dessert
    • 5.1.3 Frozen Ready Meal
    • 5.1.4 Frozen Snacks
    • 5.1.5 Other Product Types
  • 5.2 By Distribution Channel
    • 5.2.1 Hypermarkets/Supermarkets
    • 5.2.2 Traditional Grocery Stores
    • 5.2.3 Online Channels
    • 5.2.4 Other Distribution Channels

6 COMPETITIVE LANDSCAPE

  • 6.1 Company Profiles
    • 6.1.1 Golden Harvest Agro Industries Ltd
    • 6.1.2 Pran-Rfl Group Ltd
    • 6.1.3 Ag Foods Ltd
    • 6.1.4 Frozen Foods Ltd
    • 6.1.5 BD Seafood Ltd
    • 6.1.6 Kazi Farms Group

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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