Frozen Snacks are set to transform the food with high nutrition, better flavor, and diversity: Witness the Evolving Trends with ChemView's report
Category: Food & Beverages Published Date : July 2022 ID: CVC-00165 Format: PDF Pages: 308
Frozen Snacks Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Frozen Snacks Market was worth US$ 131.8 Bn and is expected to grow at a CAGR of 6.4% over the forecast period. The market is expected to hit US$ 216.5 Bn by 2030 end.
Frozen food is kept at a low temperature and used over an extended period. The frozen snacks market includes a wide range of food items such as vegetables and fruit snacks, meat, poultry, and seafood snacks, bakery products, meat alternatives, frozen desserts, and many more.
Surging demand for convenience meals with high nutritious levels, better flavor, and diversity will likely fuel market growth, resulting in higher consumption of these food products.
THE SURGE IN DEMAND FOR CONVENIENCE MEAL DRIVE THE MARKET
The busy lifestyles of millennials and working professionals worldwide are increasing the demand for ready-to-eat frozen snacks. Furthermore, customers are becoming more aware of the nutritional benefits of packaged and frozen food products.
Manufacturers are integrating nutrients, vitamins, and minerals to meet the increasing demand. As a result of these variables, sales are predicted to rise at a rapid rate over the evaluation period.
FROZEN SNACKS PERCEIVED AS NON-NUTRITIOUS MEALS HAMPER THE MARKET
Some customers perceive frozen food as a poor alternative to fresh food, which is one of the market’s primary constraints. The widespread belief is that food prepared a year or more before consumption cannot be healthful.
ONLINE RETAILS WILL CREATE AMPLE OPPORTUNITIES FOR THE MARKET
One of the most recent industry developments is online grocery shopping and the launch of new applications that make it easier for consumers to select their chosen items. Customers like internet purchasing because of its ease and variety.
Why are meat-based type Frozen Snacks projected to have the highest CAGR?
Sales in the meat-based frozen snacks category will account for a major portion of the market over the projection period. These snacks have a longer shelf life than traditional meat-based snacks and are easier to use.
Meat-based frozen snacks are commonly utilized in various fast-food products, including frozen meat patties in burgers and frozen pizza toppings. Due to the considerations above, sales in this area will pick up steam in the future.
Which sales channel segment is expected to expand the fastest during the forecast period?
The availability of a diverse assortment of frozen snacks in offline channels such as supermarkets and convenience stores would improve sector sales.
Many supermarkets and hypermarkets are upgrading their cold storage facilities to provide various frozen foods. Expanding these channels in emerging nations is increasing the availability of frozen snacks, creating the potential for frozen snacks companies to enter these markets.
Which Category segment is expected to expand the fastest during the forecast period?
The sector of ready-to-cook foods is expected to develop at the fastest rate. Changes in lifestyle and an increase in working women are driving the global rise of ready-to-eat frozen meals.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Leading global frozen snacks market companies are investing in product research and development to include nutritional elements and extend shelf life. They also want a competitive advantage through strategic collaborations, mergers, and acquisitions, allowing them to expand their reach and geographical footprint.
Major players’ organic initiatives include introducing new goods and developing superior frozen snack items.
Some of the key developments that have taken place in the Frozen Snacks Market include:
A list of some of the key suppliers present in the market are:
Market Segments Covered in Report
By Product Type:
By Sales Channel:
By Region and Country:
Global Frozen Snacks Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Billion for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Product Type, Category, Sales Channel, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|