Asia Pacific Frozen Snacks Market Size (2024 - 2029)

APAC Frozen Snacks Market Analysis

The Asia Pacific frozen snacks market is projected to register a CAGR of 5.3% during the forecast period (2022-2027)

The market growth in the region is mainly driven by the rising popularity of frozen potato fries, potato wedges, and other potato products among millennial consumers. Further, Asian countries like China and India were among the major producers of potatoes worldwide, in 2020, according to FAO (The U.S. Food and Agriculture Organization). With the availability of a large volume of potatoes in the region and a high consumer affinity for potato-based food are enabling key manufacturers to produce a large assortment of potato-based frozen snacks. Furthermore, the busy lifestyles of the urban population are influencing the adoption of longer shelf life and convenience food options such as frozen snacks.

In the medium term, demand for plant-based snack products is expected to expand exponentially due to the consumer's inclination toward healthy food habits. Plant-based sausages, nuggets, and burger patties are a few of the products preferred by Asian consumers to replace conventional snack food.

Further, the outbreak of COVID-19 encouraged consumers to consume frozen snacks as longer shelf life snacks and ready-to-eat food is registering high demand owing to the work-from-home culture. For instance, ITC India, in its press release disclosed that the company's frozen snacks business has grown three times since the pandemic occurred. Also, the reach of the company's frozen foods extended from 12 towns to 132 towns from May to July 2020.

APAC Frozen Snacks Industry Segmentation

Frozen snacks are a type of snack food that has been subjected to rapid freezing and kept frozen until used. The Asia pacific frozen market is segmented by product type, distribution channel, and geography. By product type, the market is segmented into fruit-based snacks, potato-based snacks, meat, and seafood-based snacks, and others. On the basis of distribution channels, the market is segmented into supermarkets/hypermarkets, convenience stores, online retail channels, and other distribution channels. It provides an analysis of emerging and established economies across the region, comprising China, Japan, India, Australia, and the Rest of Asia Pacific. For each segment, the market sizing and forecasts have been done on the basis of value(in USD million).