Refrigerated Snacks Market Scope and overview, Expected to Raise Moderately over 2030 | Taiwan News | 2022-03-24 06:04:48

The global refrigerated snacks market revenue was US$ 94.6 billion in 2020. The global refrigerated snacks market revenue is forecast to reach US$ 165.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.3% during the forecast period from 2021-2030.

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A refrigerated snack is a snack of food kept in a refrigerator to preserve its food quality and extend its shelf life. In order to retain their authenticity and provide convenience in food consumption to consumers, such snacks are prepared and stored at a specific temperature. Cheese-based snacks, yogurt snacks, snack bars, specialty desserts, dips, and spreads are some of the refrigerated snacks available in the market.

Factors Influencing Market Growth

  • As the working population struggles to balance work, family, and social life, consumers prefer prepared foods instead of preparing them themselves, thus driving the global refrigerated snacks market.
  • Several factors, such as the increasing employment rate of women, urbanization, and growing disposable income, are boosting the global refrigerated snacks market’s growth.
  • Due to the availability of alternative products, the market faces stiff competition. Thus, this factor may slow down the global refrigerated snacks market growth.
  • The rise in demand for quick-to-cook food products from the foodservice sector will boost the global refrigerated snacks market growth.

Impact Analysis of COVID-19

  • The COVID-19 pandemic positively impacted the global refrigerated snacks market.
  • During the pandemic, the demand for refrigerated snacks increased. People preferred to remain at home, and refrigerated snacks were easy to store and cook, thus leading to an upsurge in the consumption of frozen or refrigerated products during the pandemic.
  • The pandemic had a positive impact, leading to positive growth in the refrigerated snacks market during the forecast period.

Regional Insights

Region-wise, Europe held dominance in the global refrigerated snacks market and is forecast to remain dominant during the forecast period. Refrigerated snacks have become essential to this new way of eating because freshness gives a sense of healthfulness that shelf-stable snacks do not. In addition, refrigeration methods and techniques have advanced, ensuring that the products retain their nutritional value. The growing popularity of refrigerated snacks in Europe is primarily due to increasing consumer awareness of protein-rich foods, a rise in demand for convenience foods, and the increasing demand for convenience foods. Additionally, the availability of manufacturing hubs and the rising demand for refrigerated snacks from food processing industries are likely to drive market growth. Moreover, continuous research and development and increased technological adoption have resulted in the widespread adoption of packaged foods. 

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Leading Competitors

The leading prominent companies profiled in the global refrigerated snacks market are:

  • Ajinomoto, Incorporated
  • Cargill Incorporated
  • Charoen Pokphand
  • ConAgra Foods, Incorporated
  • General Mills, Incorporated
  • Keventer Agro Limited
  • Kraft Heinz
  • McCain Foods Limited
  • Nestle S.A.
  • Unilever plc
  • Other Prominent Players

Scope of the Report

The global refrigerated snacks market segmentation focuses on Type, End-User, Distribution Channel, and Region.

Segmentation based on Type

  • Savory Snacks
  • Fruit Snacks
  • Confectionery Snacks
  • Bakery Snacks
  • Others

Segmentation based on End-User

  • Residential
  • Food Services

Segmentation based on Distribution Channel

  • Supermarket/Hypermarket
  • Specialty Stores
  • Online Sales Channel
  • Others

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Segmentation based on Region

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • Western Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Western Europe
  • Eastern Europe
  • Poland
  • Russia
  • Rest of Eastern Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • Rest of Asia Pacific
  • Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
  • South America
  • Brazil
  • Argentina
  • Rest of South America

What are the key findings of the report?

•This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
•The report offers the current state of the market and future prospects for various geographical regions.
•This report provides both qualitative and quantitative information about the competitive landscape of the market.

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