Frozen Snacks Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Frozen Snacks Market is Segmented By Product Type (Desserts, Confectionary, Meat Based Snacks, Bakery Products, Meat Substitute Snacks, Others), By Category ( Ready-to-eat, Ready-to-cook), By Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Online Sales, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Report Overview

The Global Frozen Snacks Market reached USD 102.1 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 140.8 billion by 2030. The market is growing at a CAGR of 4.1% during the forecast period 2024-2031. Frozen snacks are food items prepared, packaged, and frozen to extend their shelf life and provide convenience to consumers.

These snacks can include various options, from frozen appetizers and finger foods to frozen desserts. Frozen appetizers are mainly consumed snacks, including product varieties like mini quiches, chicken wings, spring rolls, and mozzarella sticks. 

The freezing process involves lowering the temperature of the snacks to a level where microbial activity is significantly slowed down. Freezing helps retain the nutritional value, texture, and flavor of the snacks, allowing them to be enjoyed even after an extended period, boosting the market growth of frozen snacks. 

The fast-paced lifestyle of consumers has led to a surge in demand for convenient and portable snacks. Frozen snacks are easy to prepare and can be consumed on the go, which boosts the growth of the frozen snacks industry.

Market Summary

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Market Dynamics

Increasing Working Women Population Drives the Market Growth of Frozen Snacks

Continuously increasing women's employment rate helps the market to grow. In 2022 the United States had 74.09 million working women, which is more than the previous year. Also, in India, female labor force participation rate rose by one percentage point in 2022 compared to 2021. The rate in its whole was 23.97 percent in 2022. It is not easy for working women to cook fresh meals all the time owing to their busy schedules. That is the reason women are looking for frozen convenience food like ready-to-eat frozen snacks, which take less time to prepare. Hence, the increasing working women population drives the market growth of frozen snacks.

Rising Appetite for Natural and Fresh Food Products hampers the Market Growth Of Frozen Snacks

Consumers increasingly associate fresh food with higher quality and better nutritional value. 84% of respondents stated they think about the benefits of fresh food for their health and well-being when making purchases; 80% of respondents believe fresh food is better for them than packaged or processed food that is marketed as healthy. 

Fresh food is often perceived as healthier and more natural than frozen alternatives. As a result, the preference for natural and fresh food products may lead some consumers to choose freshly prepared snacks over frozen snacks. Hence, the rising appetite for natural and fresh food products hampers the market growth of frozen snacks.

Market Segment Analysis

The Global Frozen Snacks Market is segmented based on product type, category, distribution channel, and region.

Higher Shelf Life of Meat-Based Frozen Snacks Than Regular Snacks 

Depending upon product type, the frozen snacks market is divided into desserts, confectionary, meat-based snacks, bakery products, meat substitute snacks, and others.

In 2022, the meat-based frozen snacks segment accounted for a dominant share of the market. These frozen meat-based snacks have higher shelf life than regular snacks and are more convenient to use. Consumers in developed and developing countries like the United States, Canada, the U.K., China, France, and Italy prefer frozen meat-based snacks due to their hectic schedules. 

Frozen meat-based snacks are widely used in a range of fast-food items, such as freezing meat patties in burgers and frozen toppings in pizzas. Hence, the higher shelf life of meat-based frozen snacks than regular snacks increases the sales of meat-based frozen food.

Market Geographical Share

Busy Lifestyles in the North American Region

In 2002, the North American region had the highest share in the frozen snacks market, driven by factors such as busy lifestyles, on-the-go snacking, and general popularity. According to IBISWorld, our snack food industry was $48.0bn in 2022.  According to the American Frozen Food Institute (AFFI), frozen food sales increased by 8.6% to reach $72.2 billion in 2022. Some major key players, such as General Mills Inc., Kraft Heinz Company, Cargill Incorporation, Flowers Foods, and Mccain Foods Limited, among others, were also actively working in the North American region to increase their frozen snack manufacturing. 

Frozen Snacks Market Companies 

The major global players include General Mills Inc., ConAgra Foods, Inc., J.R. Simplot Co., Mother Dairy Fruit and Vegetable Pvt. Ltd, Home Market Foods Inc., Unilever plc., Maple Leaf Foods Inc., Nestle S.A., Mc Cain Foods, and Tyson Foods

COVID-19 Impact on Frozen Snacks Market

COVID-19 Impact

During the COVID-19 pandemic, most people worked from home, and due to government restrictions, hotels, and restaurants were closed, which moved consumers to buy frozen snacks. According to American Frozen Food Institute and FMI—the Food Industry Association report, American online frozen food sales increased by 21% in 2020, with frozen snacks, dinners, meat, poultry, and seafood being the biggest online sellers. Some of the major key players announced that their sales increased during the pandemic. For instance, ITC Ltd increased its frozen snack business three times during the pandemic, driven by consumers seeking a variety of meals at home.

By Product Type

• Desserts
• Meat Based Snacks
• Bakery Products
• Meat Substitute Snacks
• Others

By Category

• Ready-to-Eat 
• Ready-to-Cook

By Distribution Channel

• Supermarket/Hypermarket
• Convenience Stores
• Online Sales
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In May 2023, Bikano, a Snack and packaged food manufacturer, launched a range of frozen products in the international market.
• In December 2022, Godrej Yummiez launched crispy potato starz, a ready-to-cook snack with no added preservatives backed by IQF (Individual Quick Freeze) technology.
• In March 2021, SeaPak Shrimp and Seafood Co. introduced wild-caught lobster and frozen shrimp appetizers.

Why Purchase the Report?

• To understand key commercial assets and players to visualize the Global Frozen Snacks Market segmentation based on product type, category, and distribution channel.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous frozen snacks market-level data points all for segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Frozen Snacks Market Report Would Provide Approximately 61 Tables, 59 Figures And 102 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies