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Indonesia Frozen Food Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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  • 82 Pages
  • May 2021
  • Region: Indonesia
  • Mordor Intelligence
  • ID: 4703920
The Indonesia frozen food market was valued USD at USD 995.79 million in 2020 and is projected to witness a CAGR of 8.49 % during the forecast period (2021 - 2026).

In Indonesia, the frozen food market has been performing well following the onset of the novel coronavirus as these have emerged as an apt solution for the consumers striving for nutritional food with extended shelf life. Among all, frozen pre-cooked meals became the most popular choice of the consumers during their life in quarantine. Although the COVID-19 impact on the cold chain supply has been significant, the evolving buying patterns of the consumers with more inclination towards health have helped the frozen food market to show resilience faster than expected.

The rise in consumer preferences for convenience foods and the development of cold chain logistics in the country are some of the crucial factors driving the growth of the frozen food market in Indonesia. Further, the advancement of modern retail channels has additionally determined the development of frozen food. Supermarket giants, such as Super Indo, Giant Eksatra, and Ramayana have become a significant source of growth for the frozen foods market.

Thus, the market is expected to register robust growth rate, owing to increasing customer appetite and acceptance, complemented by an increase in selling points, deeper penetration by organized retail players, as well as an increase in the available freezer space in the retail domain.

Key Market Trends

Rise in Demand For Convenience Foods

The rise in consumer preferences for convenience foods is a crucial factor driving the growth of the packaged food market in Indonesia. Owing to the growing convenience factor, there has been an exponential growth of packaged food especially ready meals and frozen food there is less/no further preparation of food is required before consumption. The packed food includes canned food, packaged food or meals, frozen food, preserved food, and instant products. Frozen ready meals are appealing to consumers in Indonesia with hectic lifestyles, those who are trying to lose weight, and people who live alone and do not want to prepare a full meal. The presence of various global players in this country has led to wider availability of products. Furthermore, due to increasing purchasing power, food safety, and hygiene are being considered among consumers in the country. These factors have given global players a potential opportunity to make their products available on retail shelves as the brands are often considered high-quality products.

Frozen Meat Segment and Fish Segments Contribute to the Maximum Revenue Share

The consumer preference for frozen meat is increasing in Indonesia, in part due to the hygiene issues associated with making fresh products available. The popularity of protein diets has made meat and fish all the more popular, and seafood, in particular, is emerging as an important source of export earnings for the country. With the increase in bilateral and international agreements regarding the expansion of agriculture and food trade, the frozen meat and fish segment is expected to grow during the forecast period. These products exhibit longer shelf life ranging from six months to a year, making them convenient for export to the farthest of places. The Indonesian companies export various types of fish meat after processing and adding preservative materials according to international standards and consumer demand.

Competitive Landscape

The Indonesian frozen foods market is a competitive market, with numerous domestic and international players offering different varieties of frozen products. The major players, like General Mills Inc, Unilever PLC, PT Charoen Pokphand Indonesia Group, are heavily capitalizing on research and development. Ajinomoto Co. Inc, Gunung Sewu Group.(Belfoods Indonesia), and Kelola Group (PT Kelola Mina Laut) are some of the other leading players in the market with a significant range of product offerings. On the basis of the development of new products, manufacturers are sensitive to ongoing consumer wariness and trends about choosing products that are suitable for their healthy lifestyle choices, and thus players are offering products with international standards and certifications such as organic and kosher.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
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
5.1 By Type
5.1.1 Frozen Fruits & Vegetables
5.1.2 Frozen Ready Meals
5.1.3 Frozen Meat Products
5.1.4 Frozen Fish/Sea Food
5.1.5 Frozen Bakery Products
5.1.6 Others
5.2 By Distribution Channel
5.2.1 Hypermarkets/ Supermarkets
5.2.2 Grocery Stores/ Convenience Stores
5.2.3 Online Retail Stores
5.2.4 Others
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 General Mills Inc_
6.4.2 Ajinomoto Co. Inc.
6.4.3 PT Charoen Pokphand Indonesia Group_
6.4.4 Gunung Sewu Group.(Belfoods Indonesia)
6.4.5 PT Sekar Bumi Tbk
6.4.6 Kelola Group (PT Kelola Mina Laut)
6.4.7 Unilever PLC
6.4.8 PT Forisa Nusapersada

Companies Mentioned

A selection of companies mentioned in this report includes:

  • General Mills Inc_
  • Ajinomoto Co. Inc.
  • PT Charoen Pokphand Indonesia Group_
  • Gunung Sewu Group.(Belfoods Indonesia)
  • PT Sekar Bumi Tbk
  • Kelola Group (PT Kelola Mina Laut)
  • Unilever PLC
  • PT Forisa Nusapersada