Frozen Snacks Market

Global Frozen Snacks Market Overview

Frozen Snacks Market Size was valued at USD 160.9 billion in 2023. The Frozen Snacks industry is projected to grow from USD 170.8758 Billion in 2024 to USD 245.1476087 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.20% during the forecast period (2024 - 2032). Rising frequency of gluten-free dietary lifestyles among consumers owing to various health benefits offered by these products are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Frozen Snacks Market Trends

Rising Demand of Convenience Food boost market growth

The market is primarily driven by rising food and beverage spending, the introduction of goods with longer shelf lives, an increase in impulse buying, and rising consumer demand for convenience foods that can be quickly prepared and are still fresh to eat, such as fries, frozen pizza, and other goods. For instance, the American Frozen Food Institute (AFFI) reported that all categories of frozen and chilled meals had double-digit sales in February 2021, with sales of frozen meals such as seafood and poultry up 21.0% from the previous year. The real benefit of these goods is that they are comfortingly familiar to consumers as snack foods, particularly for families where stressed parents resort to frozen pizza as a cuisine that even the pickiest eaters will eat. Because of our hectic lifestyles and the need for a quick snack among adults, there has been a growing demand for healthy and convenient foods that can be consumed instantly. These products are considered beneficial as most can be cooked quickly for consumption. These factors have been propelling the market's growth. Moreover, manufacturers have provided consumers with more foods, for which much of the preparation work has been done outside the home. This development has been facilitated by technological innovations in preservation, packaging, freezing, artificial flavorings and ingredients, and by using microwaves.

Therefore, the Frozen Snacks marketrevenue. is expanding rapidly due to the increasing number of working populations and their hectic lifestyles, which is enhanced the Frozen Snacks market CAGR across the globe in the recent years.

Frozen Snacks Market Segment Insights

Frozen Snacks By Product Type Insights

The  Frozen Snacks Market segmentation, based on product type, grouped into the following sub-segments Vegetables and fruits, Meat, Poultry and Seafood, Baked goods, Meat substitutes, Frozen desserts, Confectionary, Others. Ready meals are primarily consumed by working-class people worldwide, the ready meals sector, which had the most significant revenue share of 43.0% in 2021, is anticipated to continue to dominate the market. A February 2020 article in BioMed Central (BMC) reported that about 36% of adults in the U.S. admitted to eating prepared meals.

The market growth is also anticipated to expand due to the introduction new products. For instance, China's HEROTEIN introduced sixteen ready-to-eat plant-based meat dinners in September 2021, including various chicken and beef cuts. China will receive the entire spectrum, which is entirely made of plants.

Projections, the market for fruits and vegetables will grow at the fastest rate, 6.0%, between 2022 and 2030. Because of Owing to the increasing prevalence of lifestyle diseases, consumers are shifting to these products as they do not need to be washed, peeled, or chopped. That increases the  Frozen Snacks Market revenue.  

June 2022: Conagra Brands introduced an extensive summer line-up of new product innovations featuring contemporary flavors, on-trend ingredients, and convenient preparation methods. The latest food highlights a broad collection of single-serve and multi-serve frozen meals from leading brands such as Healthy Choice, Marie Callender's, Banquet, Frontera, and more.

April 2022: Nestle's brand DiGiorno launched the Stuffed Pizza Bites snack, its flagship pizza made using 100% real cheese. The Stuffed Pizza Bites are available in four varieties: Pepperoni, Supreme, Three Meat, and Four Cheese.

Frozen Snacks By Distribution Channel Insights

The  Frozen Snacks Market data has been based on distribution channel grouped into the following sub-segment: Store-Based, Non-Store-Based. The offline category held the most significant revenue share of roughly 89.2% in 2021. Supermarkets/hypermarkets, convenience stores, grocers, and neighborhood shops are examples of offline outlets. Frozen food distribution has increased significantly among a growing number of these retailers in various places. From 2022 to 2030, the internet distribution channel is expected to experience a CAGR of 5.4%. During the projected year, the category is expected to become a reliable source of revenue. Manufacturers are being compelled to readjust their retail strategy in these nations due to the promising growth displayed by e-commerce platforms in emerging and developed countries.

March 2021:Nomad Foods acquired Fortenova’s frozen food business. The deal for divesting the abovementioned business covers Ledo Plus, Ledo Citluk, Frikom, and several smaller affiliated companies.

June 2020:GOELD, a frozen food business by the Goel Group, was launched. The brand offers fifteen products in four categories, including Indian bread, snacks, desserts, and vegan treats.

January 2021: Imperial Tobacco Company of India Limited (ITC) expanded its frozen snacks business three times during the COVID-19 pandemic, with the conglomerate adding ten new products. The extension of the snack business will increase the growth of the Frozen Snacks industry

Figure 1:  Frozen Snacks Market, by Distribution Channel, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Frozen Snacks Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America Frozen Snacks market accounted for USD 160.9 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the growing gluten-free dietary lifestyles among consumers owing to various health benefits offered by these products across the region.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3:  FROZEN SNACKS MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Frozen Snacks market accounts for the largest market share because in the European Union, consumers are more concerned with their health. They desire to eat frozen meals more frequently because of this. Also, they like foods that are less expensive and simpler to prepare. All of these and more are available in frozen foods and snacks. Further, the Germany Frozen Snacks market held the largest market share, and the UK Frozen Snacks market was the fastest growing market in the European region

The Asia-Pacific Frozen Snacks Market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to the middle classes in India and China are exploding. The population gets wealthy, and they choose to purchase and consume simple to-prepare cuisine. The fact that Frozen Snacks market are sometimes less expensive than their fresh counterparts is another significant growing reason. Moreover, China Frozen Snacks market held the largest market share, and the India Frozen Snacks market was the fastest growing market in the Asia-Pacific region

Frozen Snacks Key Market Players& Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Frozen Snacks market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Frozen Snacks industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the global Frozen Snacks industry find that can invest heavily in research and development and thus develop superior products. They can also reach new markets and markets to more people in existing markets because they increase their manpower and financial resources. This allows them to develop more powerful digital and traditional marketing campaigns and strategies which help to expand Frozen Snacks industry.

The Frozen Snacks market major player such) Nestle S.A. (Switzerland), ConAgra Foods, Inc. (US), The Kraft Heinz Company (US), Mother Dairy Fruit and Vegetable Pvt. Ltd (India), BRF S.A. (Brazil), General Mills (US), Home Market Foods, Inc. (US), Unilever plc (UK), Maple Leaf Foods Inc. (Canada), Tyson Foods Inc. (US), Ajinomoto Co. Inc. (Japan), Europastry, S.A. (Spain), Flowers Foods (US), JBS S.A. (Brazil), and McCain Foods Limited (Canada),and others are working to expand the market demand by investing in research and development activities.

Nestle’s brand DiGiorno launched the Stuffed Pizza Bites snack, its flagship pizza made using 100% real cheese. The Stuffed Pizza Bites are available in four varieties like Pepperoni, Supreme, Three Meat, and Four Cheese.

Tyson Foods Inc. announced to build a new facility in Bowling Green, Kentucky, for the production of bacon with an investment of USD 355 million.

The Frostkrone food group acquired abergavenny fine foods Ltd., a market leader in the British retail and food service sector. Abergavenny fine food ltd. It specializes in finger food and snack combination in the form of deep-frozen goods such as Halloumi Fires, Cake Bites, and goat cheese products. The export markets for the company are Australia, Japan, and U.S.

Key Companies in the Frozen Snacks market includes

• Nestle S.A. (Switzerland)
• ConAgra Foods Inc. (US)
• The Kraft Heinz Company (US)
• Mother Dairy Fruit and Vegetable Pvt. Ltd (India)
• BRF S.A. (Brazil)
• General Mills (US)
• Home Market Foods Inc. (US)
• Unilever plc (UK)
• Maple Leaf Foods Inc. (Canada)
• Tyson Foods Inc. (US)
• Ajinomoto Co. Inc. (Japan)
• Europastry S.A. (Spain)
• Flowers Foods (US)
• JBS S.A. (Brazil)
• McCain Foods Limited (Canada)

Frozen Snacks Industry Developments

March 2021:Nomad Foods acquired Fortenova’s frozen food business. The deal for divesting the abovementioned business covers Ledo Plus, Ledo Citluk, Frikom, and several smaller affiliated companies.

June 2020:GOELD, a frozen food business by the Goel Group, was launched. The brand offers fifteen products in four categories, including Indian bread, snacks, desserts, and vegan treats.

April 2022: Nestle's brand DiGiorno launched the Stuffed Pizza Bites snack, its flagship pizza made using 100% real cheese. The Stuffed Pizza Bites are available in four varieties: Pepperoni, Supreme, Three Meat, and Four Cheese.

Frozen Snacks Market Segmentation

Frozen Snacks By Product Type Outlook

• Vegetables and fruits
• Meat
• Poultry and Seafood
• Baked goods
• Meat substitutes
• Frozen desserts
• Confectionary
• Others

Frozen Snacks By Distribution Channel Outlook

• Store-Based
• Non-Store-Based

Frozen Snacks Regional Outlook

• North America

  • US
  • Canada

• Europe

  • Germany
  • France
  • UK
  • Italy
  • Spain

• Rest of Europe

  • Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Australia
  • Rest of Asia-Pacific

• Rest of the World

  • Middle East

  • Africa

  • Latin America

Frozen Seafood Market Segmentation

Frozen Seafood Product Type Outlook (USD Million, 2018-2030)

• Fish

• Crustaceans

• Shellfish

• Mollusks

• Others

Frozen Seafood Distribution Channel Outlook (USD Million, 2018-2030)

• Store-based

• Non-Store-based

Frozen Seafood Regional Outlook (USD Million, 2018-2030)

• North America Outlook (USD Million, 2018-2030)

  • North America Frozen Seafood by Product Type

    • Fish

    • Crustaceans

    • Shellfish

    • Mollusks

    • Others

  • North America Frozen Seafood by Distribution Channel

    • Store-based

    • Non-Store-based

  • US Outlook (USD Million, 2018-2030)

  • US Frozen Seafood by Product Type

    • Fish

    • Crustaceans

    • Shellfish

    • Mollusks

    • Others

  • US Frozen Seafood by Distribution Channel

    • Store-based

    • Non-Store-based

  • CANADA Outlook (USD Million, 2018-2030)

  • CANADA Frozen Seafood by Product Type

    • Fish

    • Crustaceans

    • Shellfish

    • Mollusks

    • Others

  • CANADA Frozen Seafood by Distribution Channel

    • Store-based

    • Non-Store-based

• Europe Outlook (USD Million, 2018-2030)

  • Europe Frozen Seafood by Product Type

    • Fish

    • Crustaceans

    • Shellfish

    • Mollusks

    • Others

  • Europe Frozen Seafood by Distribution Channel

    • Store-based

    • Non-Store-based

  • Germany Outlook (USD Million, 2018-2030)

  • Germany Frozen Seafood by Product Type

    • Fish

    • Crustaceans

    • Shellfish

    • Mollusks

    • Others

  • Germany Frozen Seafood by Distribution Channel

    • Store-based

    • Non-Store-based

  • France Outlook (USD Million, 2018-2030)

  • France Frozen Seafood by Product Type

    • Fish

    • Crustaceans

    • Shellfish

    • Mollusks

    • Others

  • France Frozen Seafood by Distribution Channel

    • Store-based

    • Non-Store-based

  • UK Outlook (USD Million, 2018-2030)

  • UK Frozen Seafood by Product Type

    • Fish

    • Crustaceans

    • Shellfish

    • Mollusks

    • Others

  • UK Frozen Seafood by Distribution Channel

    • Store-based

    • Non-Store-based

  • ITALY Outlook (USD Million, 2018-2030)

  • ITALY Frozen Seafood by Product Type

    • Fish

    • Crustaceans

    • Shellfish

    • Mollusks

    • Others

  • ITALY Frozen Seafood by Distribution Channel

    • Store-based

    • Non-Store-based

• SPAIN Outlook (USD Million, 2018-2030)

• Spain Frozen Seafood by Product Type

  • Fish

  • Crustaceans

  • Shellfish

  • Mollusks

  • Others

• Spain Frozen Seafood by Distribution Channel

  • Store-based

  • Non-Store-based

• Rest Of Europe Outlook (USD Million, 2018-2030)

• Rest Of Europe Frozen Seafood by Product Type

  • Fish

  • Crustaceans

  • Shellfish

  • Mollusks

  • Others

• REST OF EUROPE Frozen Seafood by Distribution Channel

  • Store-based

  • Non-Store-based

• Asia-Pacific Outlook (USD Million, 2018-2030)

  • Asia-Pacific Frozen Seafood by Product Type

    • Fish

    • Crustaceans

    • Shellfish

    • Mollusks

    • Others

  • Asia-Pacific Frozen Seafood by Distribution Channel

    • Store-based

    • Non-Store-based

  • China Outlook (USD Million, 2018-2030)

  • China Frozen Seafood by Product Type

    • Fish

    • Crustaceans

    • Shellfish

    • Mollusks

    • Others

  • China Frozen Seafood by Distribution Channel

    • Store-based

    • Non-Store-based

  • Japan Outlook (USD Million, 2018-2030)

  • Japan Frozen Seafood by Product Type

    • Fish

    • Crustaceans

    • Shellfish

    • Mollusks

    • Others

  • Japan Frozen Seafood by Distribution Channel

    • Store-based

    • Non-Store-based

  • India Outlook (USD Million, 2018-2030)

  • India Frozen Seafood by Product Type

    • Fish

    • Crustaceans

    • Shellfish

    • Mollusks

    • Others

  • India Frozen Seafood by Distribution Channel

    • Store-based

    • Non-Store-based

  • Australia Outlook (USD Million, 2018-2030)

  • Australia Frozen Seafood by Product Type

    • Fish

    • Crustaceans

    • Shellfish

    • Mollusks

    • Others

  • Australia Frozen Seafood by Distribution Channel

    • Store-based

    • Non-Store-based

  • Rest of Asia-Pacific Outlook (USD Million, 2018-2030)

  • Rest of Asia-Pacific Frozen Seafood by Product Type

    • Fish

    • Crustaceans

    • Shellfish

    • Mollusks

    • Others

  • Rest of Asia-Pacific Frozen Seafood by Distribution Channel

    • Store-based

    • Non-Store-based

• Rest of the World Outlook (USD Million, 2018-2030)

  • Rest of the World Frozen Seafood by Product Type

    • Fish

    • Crustaceans

    • Shellfish

    • Mollusks

    • Others

  • Rest of the World Frozen Seafood by Distribution Channel

    • Store-based

    • Non-Store-based

  • Middle East Outlook (USD Million, 2018-2030)

  • Middle East Frozen Seafood by Product Type

    • Fish

    • Crustaceans

    • Shellfish

    • Mollusks

    • Others

  • Middle East Frozen Seafood by Distribution Channel

    • Store-based

    • Non-Store-based

  • Africa Outlook (USD Million, 2018-2030)

  • Africa Frozen Seafood by Product Type

    • Fish

    • Crustaceans

    • Shellfish

    • Mollusks

    • Others

  • Africa Frozen Seafood by Distribution Channel

    • Store-based

    • Non-Store-based

  • Latin America Outlook (USD Million, 2018-2030)

  • Latin America Frozen Seafood by Product Type

    • Fish

    • Crustaceans

    • Shellfish

    • Mollusks

    • Others

  • Latin America Frozen Seafood by Distribution Channel

    • Store-based

    • Non-Store-based