Europe Refrigerated Snacks Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Baked Goods and Confectionery, Fruits and Vegetables, Yogurt, Meat Snacks, Sandwiches and Savory Snacks, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Convenience Store, Online Retail, and Others)
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
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Market Overview and Dynamics
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
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection
3.2.2 Primary Interviews
3.2.3 Hypothesis Formulation
3.2.4 Macro-economic Factor Analysis
3.2.5 Developing Base Number
3.2.6 Data Triangulation
3.2.7 Country Level Data
4. Europe Refrigerated Snacks Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Europe
4.3 Expert Opinion
5. Europe Refrigerated Snacks Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Consumer Awareness Towards Healthy Snacking Items
5.1.2 Growing Demand for Convenience Foods
5.2 Market Restraints
5.2.1 Food Safety and Quality Issues Associated with Refrigerated Snacks
5.3 Market Opportunities
5.3.1 New Product Launches
5.4 Future Trends
5.4.1 Rise in Demand for Fresh Snacks and Plant-Based Refrigerated Snacks
5.5 Impact Analysis
6. Europe Refrigerated Snacks Products– Global Market Analysis
6.1 Europe Refrigerated Snacks Market Overview
6.2 Europe Refrigerated Snacks Market –Revenue and Forecast To 2028 (US$ Million)
7. Europe Refrigerated Snacks Market Analysis – By Type
7.1 Overview
7.2 Europe Refrigerated Snacks Market, By Type (2020 and 2028)
7.3 Baked Goods and Confectionery
7.3.1 Overview
7.3.2 Baked Goods and Confectionery: Europe Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Mn)
7.4 Fruits and Vegetables
7.4.1 Overview
7.4.2 Fruits and Vegetables: Europe Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Mn)
7.5 Yogurt
7.5.1 Overview
7.5.2 Yogurt: Europe Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Mn)
7.6 Meat Snacks
7.6.1 Overview
7.6.2 Meat Snacks: Europe Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Mn)
7.7 Sandwiches & Savory Snacks
7.7.1 Overview
7.7.2 Sandwiches & Savory Snacks: Europe Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Mn)
7.8 Others
7.8.1 Overview
7.8.2 Others: Europe Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Mn)
8. Europe Refrigerated Snacks Market Analysis – By Distribution Channel
8.1 Overview
8.2 Europe Refrigerated Snacks Market, By Distribution channel (2020 and 2028)
8.3 Supermarkets and Hypermarkets
8.3.1 Overview
8.3.2 Supermarkets and Hypermarkets: Europe Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Mn)
8.4 Convenience Store
8.4.1 Overview
8.4.2 Convenience Store: Europe Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Mn)
8.5 Online Retail
8.5.1 Overview
8.5.2 Online Retail: Europe Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Mn)
8.6 Others
8.6.1 Overview
8.6.2 Others: Europe Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Mn)
9. Europe Refrigerated Snacks Market– Country Analysis
9.1 Overview
9.1.1 Europe: Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Million)
9.1.3 Europe: Refrigerated Snacks Market, by Key Country
9.1.3.1 Germany: Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Million)
9.1.3.1.1 Germany: Refrigerated Snacks Market, by Type
9.1.3.1.2 Germany: Refrigerated Snacks Market, by Distributional Channel
9.1.4 France: Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Million)
9.1.4.1.1 France: Refrigerated Snacks Market, by Type
9.1.4.1.2 France: Refrigerated Snacks Market, by Distribution Channel
9.1.4.2 Italy: Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Million)
9.1.4.2.1 Italy: Refrigerated Snacks Market, by Type
9.1.4.2.2 Italy: Refrigerated Snacks Market, by Distribution Channel
9.1.4.3 UK: Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Million)
9.1.4.3.1 UK: Refrigerated Snacks Market, by Type
9.1.4.3.2 UK: Refrigerated Snacks Market, by Distribution Channel
9.1.4.4 Russia: Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Million)
9.1.4.4.1 Russia: Refrigerated Snacks Market, by Type
9.1.4.4.2 Russia: Refrigerated Snacks Market, by Distribution Channel
9.1.4.5 Rest of Europe: Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Million)
9.1.4.5.1 Rest of Europe: Refrigerated Snacks Market, by Type
9.1.4.5.2 Rest of Europe: Refrigerated Snacks Market, by Distribution Channel
10. Impact of COVID-19 Pandemic on Europe Refrigerated Snacks Market
10.1 Impact of COVID-19 on Refrigerated snacks Market
10.2 Europe: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Mergers & acquisition
11.2 Product Launch
11.3 Product News
11.4 Merger and Acquisition
11.5 Company News
12. Company Profiles
12.1 Mondelez International, Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Nestle S.A
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.3 General Mills Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 The Kraft Heinz Company
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.6 PepsiCo
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.8 Mars Incorporated
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Danone S.A.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products And Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Hormel Foods Corporation
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products And Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary
LIST OF TABLES
Table 1. Europe Refrigerated Snacks Market –Revenue and Forecast To 2028 (US$ Million)
Table 2. Europe Refrigerated Snacks Market, By Type – Revenue and Forecast To 2028 (US$ Million)
Table 3. Germany Refrigerated Snacks Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. Germany Refrigerated Snacks Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 5. France Refrigerated Snacks Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. France Refrigerated Snacks Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 7. Italy Refrigerated Snacks Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Italy Refrigerated Snacks Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 9. UK Refrigerated Snacks Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. UK Refrigerated Snacks Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 11. Russia Refrigerated Snacks Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. Russia Refrigerated Snacks Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of Europe Refrigerated Snacks Market, by Type– Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of Europe Refrigerated Snacks Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 15. Glossary of Terms, Global Refrigerated Snacks Market
LIST OF FIGURES
Figure 1. Europe Refrigerated Snacks Market Segmentation
Figure 2. Europe Refrigerated Snacks Market Segmentation – By Country
Figure 3. Europe Refrigerated Snacks Market Overview
Figure 4. Fruit and Vegetable Segment Held Largest Share of Europe Refrigerated Snacks Market
Figure 5. Rest of Europe Region Held Largest Share of Europe Refrigerated Snacks Market
Figure 6. Europe Refrigerated Snacks Market, Industry Landscape
Figure 7. Europe: PEST Analysis
Figure 8. Expert Opinion
Figure 9. Europe Impact Analysis of Drivers and Restraints
Figure 10. Europe: Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Million)
Figure 11. Europe Refrigerated Snacks Market Revenue Share, By Type (2020 and 2028)
Figure 12. Baked Goods and Confectionery: Europe Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 13. Fruits and Vegetables: Europe Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 14. Yogurt: Europe Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 15. Meat Snacks: Europe Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 16. Sandwiches & Savory Snacks: Europe Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 17. Others: Europe Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 18. Europe Refrigerated Snacks Market Revenue Share, By Distribution channel (2020 and 2028)
Figure 19. Supermarkets and Hypermarkets: Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 20. Convenience Store: Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 21. Online Retail: Europe Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 22. Others: Europe Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 23. Europe: Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Europe: Refrigerated Snacks Market Revenue Share, by Key Country (2020 and 2028)
Figure 25. Germany: Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. France: Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Italy: Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. UK: Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Russia: Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Rest of Europe: Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Impact of COVID-19 Pandemic on Refrigerated Snacks Market in Europe
- Danone S.A.
- General Mills Inc.
- Hormel Foods Corporation
- Mars Incorporated
- Mondelez International, Inc.
- Nestle S.A
- PepsiCo
- The Kraft Heinz Company
- 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.