The global frozen snacks market size is anticipated to exhibit colossal growth from 2023 to 2033. According to the research report published by Future Market Insights, the global market is poised to surpass a valuation of USD 136,981 million in 2023. It is predicted to reach a valuation of USD 250,736.0 million by 2033. The market is projected to expand at a CAGR of 6% from 2023 to 2033.
Growth in the market is expected to be driven by surging demand for convenience foods with high nutrient levels, enhanced flavor, and variety, subsequently leading to increased consumption of these food items.
Consumers are getting conscious of the nutrient value in packaged and frozen food products. In response to this, brands are incorporating nutrients, vitamins, and minerals to cater to the growing demand. On the back of these factors, sales are expected to increase at a considerable pace over the assessment period.
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Rising consumption of ready-to-eat meals across the globe is compelling manufacturers to incorporate unique flavors and ingredients in frozen snacks. They are launching nutrient-rich convenience foods using organic ingredients and distinct flavor profiles, which is expected to fuel sales in the market.
Consumers are adopting various diets such as vegan, gluten-free, and keto. Taking cues from this trend, manufacturers are investing in research and development. This investment is to incorporate clean-label and organic ingredients, along with intelligent packaging and branding to increase sales. This is anticipated to create opportunities for growth in the market.
| Attributes | Details |
|---|---|
| Frozen Snacks Market Share (2022) | USD 131,712.70 million |
| Frozen Snacks Market Share (2023) | USD 136,981 million |
| Frozen Snacks Market Share (2033) | USD 250,736 million |
| Frozen Snacks Market Share (2023 to 2033) | 6% |
| Top 3 Countrie’s Market Share | 36% |
The global frozen snacks industry size increased at a CAGR of 2.6% from 2018 to 2022. In 2018, the global market size stood at USD 119,050.3 million. In the following years, the market witnessed substantial growth, accounting for USD 131,712.70 million in 2022.
Increasing sales of frozen snacks through online retail channels is expected to augment the growth in the market over the forecast period. The hectic lifestyles of millennials and working professionals around the world are boosting the consumption of ready-to-eat frozen snacks.
Principal Consultant
Convenience Offered by Frozen Meat-based Snacks Boost Sales in the Market
Based on product type, sales in the meat-based frozen snacks segment account for a dominant share of the market over the forecast period. In 2022, the meat-based segment garnered a 34.6% share of the global market. These snacks have a long shelf life as compared to regular meat-based snacks and are convenient to use.
Consumers in countries such as the United States, Germany, the United Kingdom, France, and Canada are preferring nutritional frozen snacks due to their hectic lifestyles. They are seeking snacks and ready-to-eat products with high nutrient values and clean labels. Furthermore, manufacturers are aiming to benefit from this trend by using locally and organically sourced ingredients in meat-based frozen snacks.
Meat-based frozen snacks are widely used in a range of fast-food items such as frozen meat patties in burgers, and frozen toppings in pizzas. On the back of the aforementioned factors, sales in this segment gain momentum in the forthcoming years.
Wide Availability of Frozen Snacks at Supermarkets and Hypermarkets Fuel Growth
In terms of sales channels, the availability of a wide range of frozen snacks at offline channels such as supermarkets and convenience stores boosts sales in the segment. Many supermarkets and hypermarkets are improving their cold storage capabilities to offer various frozen snacks.
The expansion of channels in emerging economies is boosting the availability of frozen snacks, which in turn creates opportunities for frozen snack brands to tap into these markets. The supermarket and hypermarkets segment is likely to dominate the market in the coming years. In 2022, the supermarkets and hypermarkets segment captured a 27.6% share of the global market.
Surging Demand for Frozen Appetizers in France Fuel Growth
As per FMI, France is expected to dominate Europe’s market owing to increasing sales of vegan frozen snacks in the country. Increasing preference for convenience foods and ready-to-eat meals owing to the hectic and fast-paced lifestyle among consumers is spurring demand for products such as frozen-backed products and frozen potato snacks. Driven by this, sales of frozen France are expected to remain high in France over the forecast period.
Growing Preference for Healthy Frozen Snacks in China Create Opportunities for Growth
Owing to the high adoption of digital retail platforms, sales of frozen snacks in China are expected to gain traction over the assessment period. In 2022, China captured a 5.8% share of the global market. Moreover, the presence of various frozen food brands, along with efficient cold chain facilities in the country augment the growth in the market in the forthcoming years.
Expansion of the e-commerce sector in China is anticipated to fuel sales in the market. Manufacturers are expanding their cold storage facilities and improving the quality of ingredients used in frozen snacks to increase their shelf life. This is anticipated to create prospects for growth for players operating in China market.
Increasing Focus on Health and Wellness in the United States is Boosting Sales of Frozen Fruit Snacks
The United States is expected to dominate North America market over the forecast period. In 2022, the United States captured an 18.2% share of the global market. Consumers in the United States are inclined toward nutrient-rich frozen snacks and convenience foods, which is anticipated to create opportunities for growth over the assessment period. Furthermore, various regulations have been imposed by the FDA which minimize the usage of harmful chemicals such as trans-unsaturated fatty acids in frozen snacks.
Frozen snacks have a long shelf life and are convenient to store and take less time to prepare. Growing preference for ready-to-eat meals in the country is anticipated to boost the market in the forthcoming years.
| Country | CAGR Share in Global Market (2022) |
|---|---|
| The United States | 18.2% |
| The United Kingdom | 7.4% |
| China | 6.1% |
| Japan | 4.0% |
| India | 9.0% |
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Leading players operating in the global market are investing in the research and development of products to incorporate nutritional values and increase their shelf life. They are also aiming to gain a competitive edge through strategic partnerships, mergers, and acquisitions allowing them to widen their reach and geographical footprint. The launch of new products and superior frozen snack items are among the organic strategies adopted by key players.
Recent Developments Observed by FMI:
Key Players Working in the Global Market for Frozen Snacks:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East & Africa (MEA) |
| Key Countries Covered | The United States, Canada, Germany, The United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASIAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others |
| Key Segments Covered | Component, Business Function Type, Service Type, Organizational Size, Application, Region |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The market is estimated to achieve USD 684.3 million by 2033.
The market is forecast to register a CAGR of 17.4% through 2033.
From 2018 to 2022, the global market exhibited a 5.9% CAGR.
The market is to reach USD 137.6 million by the end of 2023.
China controls about 19.7% of the market.
India commands 18.8% of the global market share.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Desserts 5.2. Confectionary 5.3. Vegetable & Fruit Snacks 5.4. Bakery Products 5.5. Meat Based Snacks 5.6. Meat Substitute Snacks 5.7. Seafood Snacks 5.8. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Category 6.1. Ready to Eat 6.2. Ready to Cook 6.3. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 7.1. Offline Sales Channel 7.1.1. Supermarkets/Hypermarkets 7.1.2. Departmental Stores 7.1.3. Convenience Store 7.1.4. Others 7.2. Online Sales Channel 7.2.1. Company Website 7.2.2. E-commerce Platform 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA (Middle East and Africa) 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Nestle 16.2. ConAgra Foods Inc. 16.3. Ajinomoto Co. Inc. 16.4. McCain Foods 16.5. The Kraft Heinz Co. 16.6. Cargill Incorporated 16.7. Tyson Foods Inc. 16.8. NewForrest Fingerfood BV 16.9. Rich Products Corp. 16.10. Nomad Foods Ltd. 17. Assumptions & Acronyms Used 18. Research Methodology
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Frozen Snacks Market
