Market Size of Frozen Snacks Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 107.86 Billion |
| Market Size (2029) | USD 132.68 Billion |
| CAGR (2024 - 2029) | 4.23 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Frozen Snacks Market Analysis
The Frozen Snacks Market size is estimated at USD 107.86 billion in 2024, and is expected to reach USD 132.68 billion by 2029, growing at a CAGR of 4.23% during the forecast period (2024-2029).
During the COVID-19 pandemic, the frozen snacks market experienced a sudden increase in sales due to the availability of products in e-commerce stores and various supermarkets and hypermarkets offering home delivery to customers. With the rapid spread of the virus, consumers' awareness and hygiene practices increased, creating an enormous opportunity for e-commerce stores to offer contactless delivery of fully sanitized packaged food items in various countries worldwide. However, continuous innovation in the sector to provide appropriate packaging aids the overall growth of the market.
Key players are introducing new types of ingredients and products to cater to the tastes of consumers on a regional basis. The rising preference of consumers toward convenience products fuels the growing demand for frozen products due to their effortlessness and time-saving benefits as compared to cooking from scratch. The frozen snacks market is expanding rapidly due to the increasing number of working populations and their hectic lifestyles, which is expected to boost the frozen snacks market significantly.
Italian cuisine is gaining traction in the global market, and the trend of deep-frozen pizza is capturing majorities of the Asian, European, and North American markets. The manufacturers are coming up with innovative techniques to meet consumer demands and boost the growth of the market. The intake of animal protein is associated with high cholesterol levels, fat intake, and calorie intake, which increase the risk of cardiac diseases, high blood sugar levels, and obesity. Hence, consumers are showing an inclination toward vegan sources of protein, which, in turn, has created a good platform for the players offering plant-based or vegan frozen products.
Frozen Snacks Industry Segmentation
As per the scope of the report, frozen snacks are a type of snack food that is subjected to rapid freezing and kept frozen until consumed. Similar to snacks, a small portion of food is consumed between meals. The frozen snacks market is segmented based on product type, distribution channels, and geography. By product type, the market is segmented into potato fries, pizzas, and other frozen snacks. By distribution channel, the market is segmented into retail and food service. The retail channel is further segmented into supermarkets/hypermarkets, convenience stores, online retail stores, and other distribution channels. In terms of geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The report offers the market size and values in (USD million) for the above segments.
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| Potato Fries | |
| Pizzas | |
| Other Frozen Snacks |
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Frozen Snacks Market Size Summary
The frozen snacks market is experiencing significant growth, driven by changing consumer preferences and lifestyle trends. The demand for convenience foods, which offer time-saving benefits and ease of preparation, is on the rise, particularly among working populations with busy schedules. The market's expansion is further fueled by the increasing popularity of Italian cuisine, such as deep-frozen pizza, across Asian, European, and North American regions. Manufacturers are innovating with new ingredients and packaging solutions to meet diverse consumer tastes and preferences, including a growing inclination towards plant-based and vegan frozen products. The COVID-19 pandemic accelerated the shift towards e-commerce and contactless delivery, enhancing the market's reach and accessibility. Technological advancements in preservation and packaging have also played a crucial role in extending product shelf life and maintaining quality, contributing to the market's robust growth trajectory.
The frozen snacks market is characterized by a high level of fragmentation, with numerous global and local players competing for market share. Key companies such as Nomad Foods Limited, Conagra Brands Inc., McCain Foods Limited, Kraft Heinz Co., and Nestle SA are actively engaging in strategic partnerships, geographical expansion, and product innovation to strengthen their market positions. The market is also witnessing a surge in impulse purchasing and increased expenditure on food and beverages, further propelling its growth. Restaurants and cafes are adapting to consumer demands by offering take-out and delivery options, which has led to a higher stock of frozen snack products. This trend is supported by the growing preference for healthier food options and concerns over environmental sustainability, which are reshaping the dining experience and influencing consumer choices.
Frozen Snacks Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Potato Fries
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2.1.2 Pizzas
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2.1.3 Other Frozen Snacks
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2.2 Distribution Channel
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2.2.1 Retail
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2.2.1.1 Supermarkets/Hypermarkets
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2.2.1.2 Convenience Stores
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2.2.1.3 Online Retail Stores
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2.2.1.4 Other Distribution Channels
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2.2.2 Food service
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Spain
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2.3.2.2 United Kingdom
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2.3.2.3 Germany
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 South Africa
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2.3.5.2 United Arab Emirates
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2.3.5.3 Rest of Middle East and Africa
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Frozen Snacks Market Size FAQs
How big is the Frozen Snacks Market?
The Frozen Snacks Market size is expected to reach USD 107.86 billion in 2024 and grow at a CAGR of 4.23% to reach USD 132.68 billion by 2029.
What is the current Frozen Snacks Market size?
In 2024, the Frozen Snacks Market size is expected to reach USD 107.86 billion.
