Market Highlights
The hectic lifestylesand changing eating habits of consumers are encouraging market players to
introduce a variety of snack products in frozen form. The global frozen snacks
market size is projected to register a growth rate of 3.73% from 2019 to 2024
to reach a market value of USD 129 Billion by the end of 2024. However,
fluctuating storage temperatures leading to physical changes, such as moisture
loss, emulsion destabilization, and recrystallization of sugars and ice in
frozen desserts may hinder market growth during the forecast period.
Key Players
Some of the keyplayers in the global frozen snacks market are The Kraft Heinz Company (US),
Nestle S.A. (Switzerland), ConAgra Foods, Inc. (US), Flowers Foods (US), BRF
S.A. (Brazil), General Mills (US), Home Market Foods, Inc. (US), Unilever plc
(UK), JBS S.A. (Brazil), Maple Leaf Foods Inc. (Canada), Tyson Foods Inc. (US),
Mother Dairy Fruit and Vegetable Pvt. Ltd (India), Ajinomoto Co. Inc. (Japan),
Europastry, S.A. (Spain), and McCain Foods Limited (Canada).
Market Segmentation
The global frozen snacks market analysis has been segmented based on producttype, distribution channel, and region.
Based on product type,the global frozen snacks market size has been segmented into vegetables and
fruits; meat, poultry, and seafood; bakery products; meat substitutes; frozen
desserts and confectionery; and others. The meat, poultry, and seafood segment
is expected to dominate the global frozen snacks industry during the forecast
period. The consumption of poultry and seafood is high the world owing to
their protein content. The convenience of frozen products is influencing
consumers to switch to frozen meat, poultry, and seafood new snacks 2019 market for its convenience. However, the risingadoption of veganism and changing consumer preference toward plant-based diets
are expected to fuel the growth of the meat substitutes segment at the fastest
rate during the forecast period.
On the basis ofdistribution channel, the global frozen snacks analysis market has been
classified as store-based and non-store-based. The store-based segment has been
further divided into supermarkets and hypermarkets, convenience stores, and
others. The store-based segment is expected to generate higher revenue, with
the supermarkets and hypermarkets sub-segment being the largest due to the
strong and widespread network of stores. The non-store-based segment is
expected to register the higher CAGR during the assessment period.
Technological advancements in the e-commerce industry have enabled the
maintenance of temperature of frozen snacks; this, along with the growing
consumer preference for online retailing are fueling the growth of the segment.
Regional Analysis
The global frozensnacks market has been segmented, by region, into North America, Europe,
Asia-Pacific, and the rest of the world.
The European frozensnacks market is expected to dominate during the forecast period due to the
widespread adoption of healthy eating habits and demand for convenience foods
in the region. In the Netherlands, oven cooking of frozen potato snacks cooked
is increasing as a healthier alternative to traditional deep-fat frying, which
is driving market growth in Europe.
The frozen snacksmarket share in Asia-Pacific is projected to grow at the fastest rate from
2019 to 2024. Increasing spending power and the rise of the organized retail
sector are driving the regional market growth. The consumption of healthy
frozen snacks is increasing in highly populous countries in the region.
Additionally, the increasing working population and shifting consumption
patterns toward convenience foods are expected to boost the growth of the
frozen snacks market in Asia-Pacific during the forecast period.
Latest IndustryUpdates
Jun 2018: Conagra Brands announced the acquisitionof Pinnacle Foods for USD 10.9 billion to expand its frozen snacks portfolio.
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