Portland, OR, December 15, 2021 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, the refrigerated snack market was estimated at $ 94.8 billion in 2020 and is expected to reach $ 165.4 billion by 2030, registering a CAGR of 5.6% from 2021 to 2030. The report provides an overall analysis of the main pockets of investment, top winning strategies, drivers and opportunities, market size and estimates, competitive landscape and faltering market trends.
The rapid growth of the restaurant industry, the increase in the adoption of ready meals with the increasing inclination towards a sedentary lifestyle and the emergence of Clean Label refrigerated snacks are driving the growth of the global refrigerated snacks market. . On the other hand, the availability of substitutes hinders growth to some extent. However, the increased demand for vegan foods and snacks and the expansion of the sales channel are expected to create lucrative opportunities in the industry.
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- The demand for refrigerated snacks soared during the pandemic as most people avoided leaving their homes. Chilled snacks were easy to store and cook, leading to an increase in the consumption of frozen or chilled products, especially during the initial phase of the outbreak, thus boosting the growth of the global market.
- However, huge supply chain disruptions across the globe have affected the market to some extent, giving the industry an overall mixed impact.
The global refrigerated snacks market is analyzed by type, end user, distribution channel, and region.
Based on type, savory snacks segment accounted for the major share in 2020, holding around one third of the global market. The fruit snacks segment, however, would post the fastest CAGR of 7.9% throughout the forecast period.
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On an end-user basis, the residential segment generated the highest share in 2020, accounting for almost two-thirds of the global market. However, the catering segment would be present the fastest CAGR 6.4% from 2021 to 2030.
Based on the region, the market across Europe held the lion’s share in 2020, garnering nearly two-fifths of the global market. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 7.3% by the end of 2030. Other provinces studied in the report include North America and LAMEA.
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Major market players analyzed in the Global Refrigerated Snacks Market report include Cargill Incorporated, Charoen Pokphand, Ajinomoto, Inc., Unilever plc., General Mills, Inc., Keventer Agro Limited, Kraft Heinz, McCain Foods Limited, Nestle SA and ConAgra Foods, Inc. These market players have integrated several strategies, including partnership, expansion, collaboration, joint ventures and others, to consolidate their position in the industry.
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Allied Market Research (AMR) is a full-service market research and business consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
We have professional relationships with various companies which helps us extract market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecast. Allied Market Research CEO Pawan Kumar helps inspire and encourage everyone associated with the business to maintain high quality data and help customers in every way possible to be successful. Each of the data presented in the reports we publish is taken from primary interviews with senior officials of the main companies in the field concerned. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with industry-savvy professionals and analysts.