The Global Frozen Snacks Market is set to witness growth at a CAGR of 6.5%, reaching a valuation of US$ 247.2 Bn by 2032.
Growth can be attributed to the convenience offered by these products. As consumers are trying to keep up with their busy schedules, they are preferring packaged food products and frozen snacks as they take less time to prepare. This trend will continue pushing sales in the market over the forecast period.
According to the World Bank, two-third of the world’s population is predicted to live in urban areas in the next 10 years. As a result, rapid urbanization and hectic lifestyle among millennials and working professionals will drive the adoption of frozen snacks.
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Companies Profiled In frozen snacks market are Nestle, ConAgra Foods Inc., Ajinomoto Co. Inc., McCain Foods, The Kraft Heinz Co,. Cargill Incorporated, Tyson Foods Inc., NewForrest Fingerfood BV, Rich Products Corp., Nomad Foods Ltd.
Moreover, these frozen snacks take less time to prepare than cooked meals, which is one of the key reasons driving the preference for frozen snacks. In addition to this, increasing focus on nutrient-rich frozen snacks is compelling manufacturers to launch products with organic ingredients and clean-labels. This is anticipated to fuel sales in the market.
“Wide availability of vegan, gluten-free and keto frozen snacks, along with increasing sales through online channels across emerging economies will augment the growth in the market in the forthcoming years,” says an FMI analyst.
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Key Takeaways:
- The global frozen snacks market is anticipated to reach a valuation of around US$ 131.7 Bn in 2022.
- By product type, sales in the desserts segment will account for around 2/5th of the total market share over the forecast period.
- In terms of category, demand in the ready-to-eat frozen snacks segment will remain high through 2032.
- Offline sales channels will be the most preferred sales channel among consumers over the assessment period.
- France will dominate the Europe frozen snacks market owing to increasing demand for vegan frozen snacks and ready-to-eat meals.
- China will account for a lion’s share of the East Asia frozen snacks market due to increasing sales of packaged food products through online channels
- The U.S. will emerge as a lucrative market on the back of growing preference for vegan and clean-label frozen snacks.
Competitive Landscape
Leading players in the frozen snacks market are aiming to improve sales by launching frozen snackes made from organic and natural ingredients. They are also investing in mergers, acquisitions and collaborations to expand their production and storage facilities for frozen snacks. For instance:
- In April 2021, Abergavenny Fine Foods Ltd., a company specializing in frozen snacks and finger food was acquired by Frostkrone Food Group.
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Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global frozen snacks market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on product type (desserts, confectionary, vegetable & fruit snacks, bakery products, meat-based snacks, meat substitute snacks, seafood snacks and other products), category (ready to eat, ready to cook and others), sales channel (offline sales channel (supermarkets/hypermarkets, departmental stores, convenience store and other sales channel) and online sales channel (company website and e-commerce platform)), across seven major regions of the world.
Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Product launches & Recent Developments
3.4. Product Life Cycle Analysis
3.5. Value Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. % of Operating Margin Analysis
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Global Frozen Snacks Market – Pricing Analysis
3.6.1. Price Point Assessment by Region
3.6.2. Price Point Assessment by Product Type
3.6.3. Price Forecast till 2032
3.6.4. Factors affecting pricing
3.7. Forecast Factors – Relevance & Impact
3.8. Regulatory Landscape
3.8.1. Packaging & Labelling Regulations
3.8.2. Certifications and Certifying Agency Overview
3.8.3. Import/Export Policies
3.9. Regional Parent Market Outlook
3.10. Consumers Survey Analysis
3.11. Macro-Economic Factors
3.12. Product Claims & Nutritional Information Scan by Buyers
- Global Frozen Snacks Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Bn) & Volume (MT) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Bn) & Volume (MT) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
- Global Frozen Snacks Market Analysis 2017-2021 and Forecast 2022-2032, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Bn) & Volume (MT) Analysis By Product Type, 2017-2021
5.3. Current and Future Market Size Value (US$ Bn) & Volume (MT) Analysis and Forecast By Product Type, 2022-2032
5.3.1. Desserts
5.3.2. Confectionary
5.3.3. Vegetable & Fruit Snacks
5.3.4. Bakery Products
5.3.5. Meat Based Snacks
5.3.6. Meat Substitute Snacks
5.3.7. Seafood Snacks
5.3.8. Other Products
5.4. Y-o-Y Growth Trend Analysis By Product Type, 2017-2021
5.5. Absolute $ Opportunity Analysis By Product Type, 2022-2032
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