Frozen Snack Food Market size to increase by USD 14.44 billion from 2022 to 2027- Technavio

NEW YORK, Oct. 12, 2023 /PRNewswire/ — The frozen snack food market size is expected to grow by USD 14.44 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 6.48% during the forecast period. The rise in the launch of frozen products is notably driving the frozen snack food market. However, factors such as frequent product recalls may impede market growth. The market is segmented by product (bakery products/meat substitutes/appetizers, meat/poultry/seafood, and vegetables and fruits), distribution channel (offline and online), and geography (Europe, North America, APAC, South America, and Middle East and Africa).

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Key Segment Analysis

The market share of the bakery products/meat substitutes/appetizer segment is significant during the forecast period. This segment mainly includes bakery products, meat substitutes, frozen sandwiches, frozen cheese snacks, and other frozen appetizers. In addition, there is an increasing demand for frozen snacks, especially frozen vegan pizzas from developing countries. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.

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Geographical Market Analysis

Europe is estimated to account for 38% of the growth of the global market during the forecast period. Factors such as rapid urbanization which has led to smaller living spaces and busier lifestyles one of the main factors which has significantly contributed to the growth of the market in the region. In addition, the rising preference for frozen snacks in the region is due to the increasing perception of these products as convenient and potentially more nutritious options. Hence, such factors drive the market growth in the region during the forecast period.

Company Insights

The frozen snack food market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including: Ajinomoto Co. Inc., Al Kabeer Group ME, BRF SA, Conagra Brands Inc., Del Monte Pacific Ltd., General Mills Inc., Home Market Foods Inc., JBS SA, Kidfresh, Maple Leaf Foods Inc., McCain Foods Ltd., Mother Dairy Fruit and Vegetable Pvt. Ltd., Nestle SA, NewForrest Fingerfood B.V., Nomad Foods Ltd., Rich Products Corp., The Kraft Heinz Co., Tyson Foods Inc., ELEVATION BRANDS LLC., and The Hain Celestial Group Inc.

View a FREE PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Distribution Channel

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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