19 November 2018, Japan Frozen Food Market is expected to reach USD 5,631.0 million by 2024 driven primarily by ageing population and busy lifestyle. About 23 % to 25 % of the domestic expenditure in Japan is on food. The culture of Japan is heavily influenced by senior citizen owing to growing ageing population and minimum youth segment. A young adult who lives in a single household, often eat outside and prefer good quality food owing to a busy lifestyle. Growing influence of healthy nutritional food, busy lifestyle and increase in the numbers of single person household is correlated with an increase in the sale of frozen meals or on-the-way food products.
E-commerce as well as mobile (m)-commerce, both channels are expected to be a lucrative market for the sale of frozen food products. Japan is dominated by elder population; a senior citizen is expected to be the most active online citizen in Japan. Despite the small-scale sale of online frozen food products, the growth rate is expected to be in double digits over the coming years. Major supermarket and hypermarket stores are also offering online grocery service hence the frozen food market is expected to show tremendous growth over the forecast period.
In the business sector, food and service industry is growing hence the need for ready meals or Convenience, Value, and Service (CVS) categories are growing at a brisk pace. Furthermore, home delivery and nursing home category is also growing hence these trends altogether are expected to develop the frozen food industry in Japan over the forecast period
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Despite the huge take off by e-commerce in Japan on a daily basis, convenience stores still continue to be a major retail purchasing choice. Expansion of convenience stores in terms of location, reinvention and introduction of a wide variety of products are expected to be the major contributing factor in the growth of frozen food products sales in Japan. Within the offline distribution channel, supermarkets, hypermarkets, and convenience stores are expected to enjoy maximum market share owing to upcoming construction activity in the form of shopping malls which is expected to provide opportunities to new players to establish their market and local players can further grow their market with in-store promotions and on-site demonstration.
Hexa Research has segmented the Japan frozen food market report based on type and distribution channel:
Segmentation by Type
• Frozen ready meals
• Frozen Pizza
• Frozen fish/seafood
• Frozen Meat
• Frozen potato products
• Frozen bakery products
Segmentation by Distribution Channel
Key players analyzed:
• NH Foods Ltd.
• Maruha Nichiro Holding, Inc.
• Nichirei Corporation
• Ajinomoto Co., Inc.
• Nippon Suisan
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