North America Refrigerated Snacks Market
No. of Pages: 85 | Report Code: TIPRE00023477 | Category: Food and Beverages
No. of Pages: 85 | Report Code: TIPRE00023477 | Category: Food and Beverages
North America comprises developed and developing countries such as the US, Canada, and Mexico. North America is anticipated to account for a remarkable share of the refrigerated snacks market during the forecast period. Consumers in countries, including the US and Canada, are shifting their preferences toward a healthy lifestyle as well as prefer products that provide health benefits. Rising diet consciousness among the consumers has facilitated the uptake of products containing high-protein and high-fiber in the region. Refrigerated snack product processing companies in North America are continuously enhancing their product portfolio to meet the customers' demand. Several market players are launching fortified product variants with improved packaging to cater to the evolving requirements of the consumers. Some of the key players offering refrigerated snacks in North America are the Kraft Heinz Company; Perfect Bar LLC; Nestle S.A; General Mills, Inc.; and OHi bars, among others. The region is a developed market for refrigerated snacks owing the rising consumption of convenience products, such as fruit and vegetable snacking, snack combos, cheese snacking, yogurt snacks, cookie dough, snack bars, sweet goods, and specialty desserts, and surging demand from ready to eat food products from the working population owing to busy lifestyles. A significant shift of the consumers toward a healthy lifestyle has led to increasing demand for food products that are healthy and tasty as well is propelling the market growth in the country over the past few years. The rise in the interest of consumers in healthy eating habits and convenience has set the pace for the growth of the refrigerated snacks market.
The market is being disrupted by COVID-19 because of the slowdown of raw material production, supply chain instability, hampered trade movements, and other reasons. The outbreak has distorted operational efficiency and disrupted the value chains due to the sudden shutdown of national and international boundaries, creating revenue loss and damage. The disturbed value chain has had a negative impact on raw material supply and further impacting the refrigerated snacks market. However, since the economies are planning to revive their operations, the demand for refrigerated snacks is presumed to rise in the coming months. In addition, most people are now working from home, and this change in lifestyle has further inspired families to buy food products online and to store for a longer time. And people are highly looking for sustainable refrigerated snacks for healthy snacking option; this is further giving an opportunity to the market players to recover their loss and to grow business through online platforms. According to the report published in the American Journal of Agriculture Economics in November 2020, the demand for fresh fruit & vegetables, grains, and frozen foods increased the most during the pandemic, which benefited small farms over agribusinesses. This increased sales by 5.7% and the number of customers by 4.9%. The variety of food products are sold on the e?commerce platform with an increased ratio, which suggests the concentration of sales on niche products could rise as more consumers are drawn to online platforms. However, despite the difficulties faced by food shoppers during the Covid-19 pandemic, including food stockouts, limited public transportation, and reduced hours mainly at supermarkets & grocery stores, most of the shoppers in developed countries like the US have maintained adequate access to food (according to the US Food and Drug Administration 2020). Also, food processing companies are taking extra precautions to diminish person-to-person contact. The US in North America has the highest number of confirmed cases of COVID-19 among all key countries. Last year the pandemic impacted the overall food and beverage industry in the region, including the processed food market. However, post-pandemic, purchasing of food products with refrigerated snacks are increasing mainly through the online platform, which is going to put a positive impact upon the studied market.
Strategic insights for the North America 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.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 14,211.86 Million |
| Market Size by 2028 | US$ 20,507.65 Million |
| Global CAGR (2021 - 2028) | 5.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
|
The geographic scope of the North America 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 North America is expected to grow from US$ 14,211.86 million in 2021 to US$ 20,507.65 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2021 to 2028. Growing demand for fresh snacks and plant-based refrigerated snacks; The refrigerated section is gradually filling with fresh snacks that are typically prepared and portioned in advance at home, such as pickled vegetables, drinkable soups, hard-boiled eggs with savory toppings, all portioned and in convenient single-serve packaging. The trend of fresh snacks will accelerate even in the upcoming years as they are healthy and rich in nutrients. Moreover, organic and plant-based products have exploded in popularity. These trends are heating the refrigerated snacks category. The importance of organic and plant-based snacking items has also been understood in the wake of alarming health issues caused by harmful synthetic additives and preservatives. The rising inclination of people toward these organic and plant-based forms of refrigerated snacks has encouraged the manufacturers to invest heavily in products containing the same as one of their primary constituents. For e.g., OHi Food Co manufactures OHi Plant-Based Super Green Superfood Bars, which are plant-based. The growing population is demanding fresh and healthier food options will further create more demand for plant-based refrigerated snacks. This is bolstering the growth of the refrigerated snacks market.
In terms of type, the fruits and vegetables segment accounted for the largest share of the North America 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.
A few major primary and secondary sources referred to for preparing this report on the refrigerated snacks market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Conagra Brands, Inc.; Danone S.A.; General Mills Inc.; Hormel Foods Corporation; Mars Incorporated; Mondelez International, Inc.; Nestle S.A; OHi Bars; PepsiCo; The Kraft Heinz Company; among others.
The North America Refrigerated Snacks Market is valued at US$ 14,211.86 Million in 2021, it is projected to reach US$ 20,507.65 Million by 2028.
As per our report North America Refrigerated Snacks Market, the market size is valued at US$ 14,211.86 Million in 2021, projecting it to reach US$ 20,507.65 Million by 2028. This translates to a CAGR of approximately 5.4% during the forecast period.
The North America Refrigerated Snacks Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Refrigerated Snacks Market report:
The North America Refrigerated Snacks Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Refrigerated Snacks Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Refrigerated Snacks Market value chain can benefit from the information contained in a comprehensive market report.
Office No. 1011, First floor, Farena Corporate Park, Magarpatta-Mundhwa road, Pune - 411028, Maharashtra, India
UK+442030260021, US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For North America Refrigerated Snacks Market
