(MENAFN- GlobeNewsWire - Nasdaq) The Indian single-door freezer market booms due to affordability, energy savings, and compact sizes. This demand aligns with the surging frozen food market and India's ice cream passion. Power outage resilience makes these freezers even more practical for Indian households.New Delhi, April 03, 2024 (GLOBE NEWSWIRE) -- According to the latest research by Astute Analytica, the India deep freezer market is projected to surpass US$ 4,058.79 million by 2032, up from US$ 536.98 million in 2023, at a CAGR of 25.2% during the forecast period 2024–2032.
The Indian deep freezer market is exploding with exciting growth and potential. In 2022 alone, a staggering 1.3 million units were sold, demonstrating a rapidly increasing demand from both households and commercial sectors. This growth is fueled by a mix of established domestic brands and international players, with three top brands alone recording sales exceeding 800,000 units. The market's dynamism and competitiveness ensure that consumers have a wealth of options at accessible price points. Household deep freezers average around $188, while commercial models, catering to larger capacity needs, typically cost around INR 625.
Request Free Sample Pages @
Research with a massive 10,000-participant sample revealed that energy efficiency is a deciding factor for savvy Indian consumers, alongside brand reputation. This awareness translates directly into sales figures, with the average 500 kWh annual energy consumption of household models becoming a key selling point. E-commerce giants have seized a significant share of this burgeoning market, boasting sales of 400,000 units, particularly during festive periods. However, India's strong domestic manufacturing capabilities are evident, with imports of 200,000 units being significantly outpaced by exports of 50,000 units.
Sustainability and adaptability are also shaping the future of the deep freezer market. Around 30,000 old units found new life through recycling or refurbishment, and nascent demand for solar-powered models saw 10,000 buyers embrace energy-conscious options. Metropolises witnessed a thriving rental market catering to urban populations and events – approximately 20,000 units were rented out. Brands are innovating rapidly with over 50 new models introduced to cater to diverse needs. This innovation is backed by a focus on customer experience – over 2,000 service centers were established, extending deeper into tier-2 and tier-3 cities. Although 10,000 complaints highlight room for service improvement, the digital revolution is transforming the market – $118 million in transactions occurred online, and festive discounts reached $2.5 million, demonstrating evolving consumer behavior.
Key Findings in India Deep Freezer Market
| Market Forecast (2032) | US$ 4,058.79 million |
| CAGR | 25.2% |
| Largest Region (2023) | Europe (34.9%) |
| By Type | Chest Deep Freezer (99.4%) |
| By Temperature Range | Up to -30 (48.1%) |
| By Capacity | 250-500 liters (39.4%) |
| By Doors | Single Door (53.9%) |
| By End User | Commercial (47.6%) |
| By Sales Channel | OEM's (84.9%) |
| By Distribution Channel | Offline (75.3%) |
| Top Trends | Rising demand for convenience food and processed frozen products. Increased focus on energy-efficient appliances among Indian consumers. E-commerce expansion making deep freezers accessible to broader markets. |
| Top Drivers | Growing middle-class with higher disposable incomes. Urbanization and changing lifestyles prioritizing convenience. Government initiatives supporting the cold-chain and food processing industry. |
| Top Challenges | Intense price competition among deep freezer brands and retailers, especially on e-commerce platforms Power outages in many parts of India necessitating deep freezers with longer cooling retention Limited kitchen space in Indian households affecting the adoption of larger deep freezer models |
Growing Demand for Frozen Food Products and Increasing Number of Stores Keeping them Adding Fuel to the Deep Freezer Demand in India
India's deep freezer market is experiencing unprecedented growth, directly linked to the surging demand for frozen food items. This demand is fueled by the popularity of leading ice cream chains like Baskin-Robbins, Naturals Ice Cream, Havmor Ice Cream, Vadilal, Kwality Walls, and Amul. Urban areas drive this trend, accounting for an impressive 80% of India's frozen food consumption. Regionally, North India leads the frozen food market with a 40% share, followed by West India (30%) and East India (10%).
The distribution landscape in the deep freezer market is rapidly evolving to ensure frozen foods reach consumers. India boasts a massive network of 12 million kirana stores, many of which now offer frozen treats and meals. Modern retail formats, like supermarkets and hypermarkets, are also experiencing significant growth – crucial for widespread frozen food availability. This aligns with the Indian retail industry's projected growth from US$ 1.3 trillion in 2022 to US$ 1,750 billion by 2026.
The digital revolution is transforming the frozen food market in tandem with deep freezer demand. The online distribution channel for frozen foods is set to grow at a rapid CAGR of 5.4% from 2022 to 2030. E-commerce leaders like BigBasket, Blinkit, Amazon, Swiggy, and Flipkart are seizing this opportunity, expanding their frozen food selections to meet rising consumer appetite. This digital shift is so significant that it's influencing the retail strategies of frozen food manufacturers, demonstrating the intertwined nature of the online marketplace and the demand for larger capacity storage like deep freezers.
Chest Deep Freezer Dominate India Market with 99.4% Revenue Share
Affordability plays a crucial role in Indian deep freezer market when it comes consumers' preference for chest freezers market. These models are generally $50 to $100 cheaper than comparable upright freezers, offering significant initial cost savings. Additionally, chest freezers boast superior energy efficiency, leading to savings of $10 to $20 per year in electricity costs. Their enhanced insulation, superior temperature retention, and lack of automatic defrost cycles all contribute to this efficiency advantage. Apart from this, chest freezers win out in terms of storage. They provide around 20% more usable space than upright models due to their horizontal storage orientation. This open design, often only featuring removable baskets, is perfect for storing large or irregularly shaped food items. A chest freezer with a capacity between 14.8 and 21 cubic feet is typically ample for a family of four.
Chest freezers, often called reach-in freezers, are the workhorses of India's commercial food industry. Their ability to store large quantities of frozen goods makes them indispensable for hotels, restaurants, and supermarkets in the India deep freezer market. The rapidly increasing consumption of frozen foods in India is a primary driver of chest freezer demand. This shift, fueled by changing lifestyles and dietary choices, directly translates into a greater need for convenient, long-term frozen food storage. Household names like Whirlpool (the world's largest home appliance maker), Kelvinator, Haier, Samsung, Bluestar, Rockwell, and Godrej all offer a wide array of chest freezer models in India. This strong brand presence and diversity in options further contribute to the popularity of chest freezers among Indian consumers.
Ask Questions Before Purchasing @
India Witnesses Highest Demand for Single Door Deep Freezer, Control Over 53.9% Market Share
Single door freezers are an attractive option for Indian households due to their affordability and energy efficiency, consuming an average of 8.5 kWh/day. This cost-consciousness is crucial in India's price-sensitive deep freezer market. Their compact design aligns well with space constraints in many Indian kitchens, while still offering 200-300 liters of capacity – ample for the average family. The upright format ensures easy organization and access. Single door freezers often reach temperatures of -30°C, exceeding the USDA's recommendation of -18°C (0°F) for safe, quality frozen food storage. This capability suits the growing Indian frozen food market, projected to reach INR 192.96 billion by 2024 with a CAGR of 17.27%. Changing lifestyles and a desire for convenience are fueling this growth.
India's love for ice cream (the world's highest consumption at 400ml per capita annually) further drives demand for single door freezers. They maintain the ideal ice cream storage range of -18°C to -23°C. Popular brands like Amul, Kwality Walls, and Vadilal contribute to this trend. At the end, single door freezers offer a practical advantage in areas prone to power outages. Their ability to maintain freezing temperatures for up to 48 hours with the door closed provides peace of mind, especially during hot summers. This combination of affordability, efficiency, and practicality makes single door freezers a compelling choice for Indian consumers.
E-commerce is Reshaping the Dynamics of Deep Freezer Sales in India
India's booming e-commerce sector is a major catalyst for deep freezer market sales. Predictions suggest the e-commerce market will reach a value of US$ 111 billion by 2024 and a staggering US$ 200 billion by 2026. This rapid expansion creates a wealth of opportunities for deep freezer manufacturers and retailers to connect with a vast online consumer base. One crucial advantage of e-commerce is increased accessibility, particularly notable in Tier II and Tier III Indian cities. Consumers nationwide can now easily research and compare different deep freezers online, considering features, prices, and brands before committing to a purchase.
E-commerce fuels price competition among brands and retailers in the deep freezer market, leading to more affordable deep freezers – a key consideration for cost-conscious Indian consumers. India's festive periods see a surge in deep freezer sales online, driven by further promotions and attractive deals. Product selection also benefits from the move online. E-commerce allows brands like Voltas, Kaff, Blue Star, and Panasonic to display a wider range of deep freezer models and capacities than physical stores can typically accommodate. Consumers easily find the perfect fit for their household or commercial needs. New e-commerce models like social commerce and live commerce are making additional inroads, proving particularly effective in reaching customers within Tier II and Tier III cities.
E-commerce isn't just transforming the household deep freezer market; the commercial sector is also seeing a shift. Businesses like hotels, restaurants, and retail stores find it simpler than ever to purchase commercial-grade deep freezers online. This accessibility fuels demand for larger capacity models designed for business use. Online platforms streamline the process for businesses, allowing them to compare prices, technical specifications, and potential suppliers with ease.
India Deep Freezer Market Key Players
AB Electrolux Birla Aircon Haier Group Himalaya Refrigeration Hindustan Apparatus Mfg. Co., Hitachi Limited HMG India Industrial Refrigeration Pvt Ltd Khera Instruments Pvt. Ltd. Newtronic Panasonic Corporation Polfrost Air-con Pvt. Ltd. Remi Lab World Rockwell Industries Limited Singhla Scientific Industries Thermo Fisher Scientific Inc., Universe Surgical Equipment Co. Western Refrigeration Pvt. Ltd. Whirlpool Corporation Other Prominent Players
Key Segmentation:
By Type
Chest Deep Freezer Upright Deep Freezer
By Capacity
Up to 250 Liters 250 - 500 Liters 500 - 750 Liters Above 750 Liters
By Temperature Range
Up to -30 Degree Celsius -30 to -60 Degree Celsius Above -60 Degree Celsius
By Doors
Single Door Double Door Triple Door
By End User
Residential Commercial HoReCa (Hotel/Restaurants & Cafes) Supply chain & Logistics Storage Service Providers Others
Industrial Food & Beverage Pharmaceutical Chemical Agriculture Retail Others
By Sales Channel
By Distribution Channel
Explore Research Methodology @
About Astute Analytica
Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
Contact us:
Vipin Singh
BSI Business Park, H-15,Sector-63, Noida- 201301- India
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
Email: ...
Website:
CONTACT: Vipin SinghBSI Business Park, H-15,Sector-63, Noida- 201301- IndiaPhone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)Email: ...Website:
MENAFN03042024004107003653ID1108053589