Europe Refrigerated Snacks Market

Market Introduction

Europe comprises several developing economies, including Germany, France, the UK, and Italy. The western part of the European region is known for its better standard of living, with people displaying a higher income level. It is one of the wealthiest parts of the European continent, with per capita Gross Domestic Product (GDP) more than the other parts of Europe. The European consumer displays variations in preferences and reflects economic status, culinary practices, and consumption habits of different countries. Europe is a well-established and mature market for refrigerated snacks. Cheese-based snacking, yogurt snacks, snack bars, cookies, specialty desserts, dips, and spread are refrigerated ready-to-eat snacks or cooked and packed snacks, which are gaining popularity among the consumers. Additionally, many national and international companies are offering different products in the market through offline and online retail channels. This factor is influencing the market growth in this region. The consumption of refrigerated snacks is displaying incremented growth. The presence of a manufacturing hub and the growing demand for refrigerated snacks from food processing are likely to positively impact the market growth. Apart from this, Germany, Italy, Spain, and the UK are experiencing a growing demand for refrigerated snacks due to the increasing preference of consumers for on-the-go food items, market penetration by global market players, and rising demand for health beneficiaries' products. Also, continuous R&D, coupled with rise in technology adoption, has led to the widespread adoption of packaged food. Changing eating habits with the adoption of a healthier lifestyle and food is among the key factors stimulating the demand for refrigerated snacks. Moreover, increasing availability of these products in food outlets is providing huge growth opportunities to the European refrigerated snacks market.

In Europe, currently, the UK and Russia, followed by France, Spain, Italy, and Germany, are the hardest-hit countries by the COVID-19 pandemic. These countries are estimated to suffer an economic hit due to the lack of revenue from various industries. Other member states have implemented drastic measures and travel restrictions, including partial closing of their border. Last year, the COVID-19 outbreak also affected the supply chain of raw materials required for the food & beverage industry to a greater extent; however, market players are coming up with new strategies, research, and development activities, to offers better products in the refrigerated snacks market. This will eventually create more demand for convenient snacks such as refrigerated snacks in the region

Europe Refrigerated Snacks Strategic Insights

Strategic insights for the Europe Refrigerated Snacks provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Refrigerated Snacks Report Scope

Europe Refrigerated Snacks Regional Insights

The geographic scope of the Europe Refrigerated Snacks refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The refrigerated snacks market in Europe is expected to grow from US$ 16,822.25 million in 2021 to US$ 22,720.70 million by 2028; it is estimated to grow at a CAGR of 4.4% from 2021 to 2028. New product launches, The rise in popularity of refrigerated snacks has motivated the manufacturers to boost the production volume and undertake investment in research and development and new product development of refrigerated snacks with an exotic taste that could suit consumer needs. The rise in industrial field expenditures and increasingly intense competition, and the growing adoption of refrigerated snacks as snacking ingredients have driven the demand for new product launches. Besides, the key players in the market are launching new products with a unique combination of organic or natural ingredients, which is quite different from traditional refrigerated snacks. Manufacturers are experimenting with several elements, texture, flavor, and nutritional ingredients. For instance, in September 2020, Hormel Foods introduced Hormel Black Label Egg Bites and Breakfast Combos. This will further enhance the company’s product portfolio and thereby strengthen its sales in the coming years. Also, in February 2020, KIND launched KIND Nut Butter Bar, its first-ever refrigerated, smooth, and creamy nut butter protein bar. It has three different varieties, including creamy peanut butter, chocolate peanut butter, and honey almond butter. The key manufacturers also have been financing this opportunity by packaging their products more conveniently to make them easier to consume on the go and increase shelf life. The factors such as flexible products matching consumer needs, innovative concepts, and busy lifestyles are anticipated to benefit market growth.

Key Market Segments

In terms of type, the fruits and vegetables segment accounted for the largest share of the Europe refrigerated snacks market in 2020. In terms of distribution channel, the supermarkets and hypermarkets segment held a larger market share of the refrigerated snacks market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the refrigerated snacks market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Danone S.A.; General Mills Inc.; Hormel Foods Corporation; Mars Incorporated; Mondelez International, Inc.; Nestle S.A; PepsiCo; The Kraft Heinz Company; among others.

Reasons to buy report

• To understand the Europe refrigerated snacks market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe refrigerated snacks market
• Efficiently plan M&A and partnership deals in Europe refrigerated snacks market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe refrigerated snacks market
• Obtain market revenue forecast for market by various segments from 2021-2028 in Europe region.

EUROPE REFRIGERATED SNACKS MARKETSEGMENTATION

Europe Refrigerated Snacks Market – By Type

• Baked Goods and Confectionery
• Fruits and Vegetables
• Yogurt
• Meat Snacks
• Sandwiches and Savory Snacks
• Others

Europe Refrigerated Snacks Market – By

Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Store
• Online Retail
• Others

Europe Refrigerated Snacks Market

– By

Country

• Germany
• France
• Italy
• UK
• Russia
• Rest of Europe

Europe Refrigerated Snacks Market

-Companies Mentioned

• Danone S.A.
• General Mills Inc.
• Hormel Foods Corporation
• Mars Incorporated
• Mondelez International, Inc.
• Nestle S.A
• PepsiCo
• The Kraft Heinz Company