The pandemic might've hit many of the sectors real hard, but the frozen food segment came out as winners.
The Surge Of Frozen Food
The frozen food market got a huge boost due to the pandemic, growing by 40-50%. As a result, ITC Ltd has grown its frozen snack business three times since the pandemic driven by consumers seeking variety in meals at home, with the conglomerate adding 10 new products during this period. The frozen food segment grew by five times for ITC.
During the lockdown, ITC went direct to home with frozen trucks to 1,000-plus societies reaching out to 20,000 households. The company’s reach of frozen foods grew from 12 towns to 132 towns between May to July last year.
In order to tackle the challenges in the supply chain of frozen food, ITC is trying to reach small retailers and has also launched carts in Delhi as a pilot which will sell the products right at the doorstep.
ITC hit a goldmine amidst the pandemic and the trend is likely to keep growing.