Market Research Report
Global Frozen Snacks Market 2020-2026
|Global Frozen Snacks Market 2020-2026|
Published: December 21, 2020
Orion Market Research Pvt Ltd
Delivery time: 2-3 business days
Global Frozen Snacks Market Size, Share & Trends Analysis Report, By Product (Pizza, Potato Fries, Puffs, Meat Snacks, and Others), By Distribution Channel (Retail and Food Service Chain) and Forecast, 2020-2026
The global frozen snacks market is estimated to grow at a CAGR of 7.1% during the forecast period. Increasing demand for frozen foods is one of the factors driving the market growth. Emerging demand for frozen food has resulted, owing to the long shelf-life and time-saving. The increasing penetration of the online distribution channels and rising adoption of convenience foods and the increasing range of frozen prepared meals at convenience stores are some key factors leveraging the demand for frozen foods. Additionally, the increasing availability of new innovative frozen snacks is supporting to widen the consumer base.
For instance, in September 2020, Schwan's Consumer Brands, Inc. declared the launch of five new frozen products under the Edwards and Pagoda, Red Baron, and Freschetta brands. Red Baron Pizza Melts launched the great taste of pizza which comes in three delicious flavors, including Four Cheese, Pepperoni, and Supreme. Red Baron Stuffed Crust Pizza will feature a golden-brown crust, crispy, stuffed with melty mozzarella cheese in a unique and fun rectangle shape. Freschetta Thin Crust Pizza features a flavorful crust with crispiness. This pizza comes in three varieties, such as Garden Veggie, Premium Pepperoni, and Five Cheese.
Geographically, Asia-Pacific frozen snacks market is estimated to witness the fastest growth during the forecast period. The expansion of food retail stores and the significant availability of millennials are some major factors contributing to the market growth in the region. Domino's operates more than 1,250 stores present all over India, which may increase in the near future coupled with the increasing customer base. Additionally, in November 2018, Pizza Hut India declared plans to open more than 200 more outlets in the country by 2022, which aims to widen its footprint in the country. As of November 2018, Pizza Hut operates nearly 431 stores across India. The expansion of the foodservice chain is offering an opportunity for the increasing consumption of frozen snacks such as pizza and potato fries in the country.
Some key players in the market include Nestle S.A., CJ CheilJedang Corp., Conagra Brands, Inc., McCain Foods Ltd., and Tyson Foods, Inc. Geographical expansion and product launches are some potential strategies adopted by the market players to increase competitiveness in the marketplace. For instance, in August 2020, General Mills Inc. plans to leverage the production of its Totino's series of pizza snacks with the expansion to its plant in Wellston, Ohio, US. This will enable the company to meet the increased demand for frozen pizzas in the country.
The market study of the global frozen snacks market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
The Report Covers: