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FOOD & BEVERAGES | Meat, Fish, Seafood & Alternative Proteins
apexfrozenfoods.in

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Stage

IPO | IPO

Date of IPO

8/22/2017

Market Cap

8.49B

About Apex Frozen Foods

Apex Frozen Foods is in the business of producing and exporting aquaculture products. The company supplies their products to food companies, retail chains, restaurants, club stores, and distributors. Apex produces two kinds of shrimps, namely the Whiteleg shrimp (Litopenaeus vannamei) and the Black Tiger Shrimp (Penaeus monodon).

Apex Frozen Foods Headquarter Location

3-160, Panasapadu

Kakinada, 533 005,

India

+91 884 2383 902

Latest Apex Frozen Foods News

India Frozen Foods Market Report 2021 Featuring Apex Frozen Foods Ltd., Godrej Agrovet Ltd., ITC Ltd., and Venky’s – ResearchAndMarkets.com

Sep 9, 2021

Intellasia East Asia News The frozen food market was valued at INR 98.79 Bn in 2020 and is anticipated to reach INR 224.90 Bn by 2025, expanding at a compound annual growth rate (CAGR) of ~18.17% during 2021 - 2025 In recent years, the demand for frozen food has witnessed sharp growth in India. The rapid growth in the number of modern retail stores and online grocery stores, along with proper refrigeration facilities are the key factors influencing this demand. Improved shelf-life and packaging of frozen foods has further propelled growth. Some of the key players that operate in the market are Apex Frozen Foods Ltd., Godrej Agrovet Ltd., ITC Ltd., and Venky's (India) Ltd.. Market insights: Rise in the number of millennial and gen-Z consumers opting for convenience food, improved awareness and acceptance of frozen food among the urban and semi-urban people are some of the significant factors that push the market forward. Development of the cold chain infrastructure in India and constant support are further propelling the market. However, proper cold storage and supply infrastructure are yet to develop adequately and this is a barrier to the growth of frozen food market's growth. Segment insights: Based on sales channel, the market is segmented into retailers, food service providers, and exporters. In terms of revenue, the export segment dominated the frozen food market, accounting for 44.62% of the overall revenue share in 2020. The retailers segment (online and offline stores) was valued at INR 25.81 Bn in 2020 and is expected to show maximum growth rate during the forecast period, expanding at a CAGR of ~20.94%. The food service providers segment was valued at INR 28.90 Bn in 2020 and is expected to reach INR 70.66 Bn by 2025. COVID-19 impact analysis: The frozen food business in India was disrupted due to the pandemic and several prominent manufacturers incurred huge losses due to the shutdown of food joints. However, the overall market witnessed a mixed impact experiencing both positive and negative growth. On the one hand, the demand from food service sectors declined and on the other hand, the online sale of packaged ready-to-eat snacks skyrocketed. Consumers seeking frozen snacks in local flavors helped bring in new product ranges during lockdown. Consumers' perception toward the processed frozen food products changed positively as the manufacture and packaging of these items were done in a hygienic way ensuring sanitization. Online orders of frozen foods and groceries also increased during the nationwide lockdown. The government also introduced policies such as Integrated Development of Horticulture (MIDH) which have provided financial support for building and enhancing cold storage facilities in India, amid the COVID-19 crisis. Companies covered: HyFun Frozen Foods Pvt. Ltd. Innovative Foods Ltd.

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