North America 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
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.
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Market Overview and Dynamics
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.
Key Market Segments
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.
Major Sources and Companies Listed
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.
Reasons to buy report
- To understand the North America 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 North America refrigerated snacks market
- Efficiently plan M&A and partnership deals in North America 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 North America refrigerated snacks market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
NORTH AMERICA REFRIGERATED SNACKS MARKETSEGMENTATION
North America Refrigerated Snacks Market – By Type
- Baked Goods and Confectionery
- Fruits and Vegetables
- Yogurt
- Meat Snacks
- Sandwiches and Savory Snacks
- Others
North America Refrigerated Snacks Market – By Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Store
- Online Retail
- Others
North America Refrigerated Snacks Market – By Country
- US
- Canada
- Mexico
North America Refrigerated Snacks Market -Companies Mentioned
- 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
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. North America Refrigerated Snacks Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Expert Opinion
5. North America Refrigerated Snacks Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Consumer Awareness Towards Healthy Snacking Items
5.1.2 Rise in 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 Growing Demand for Fresh Snacks and Plant-Based Refrigerated Snacks
5.5 Impact Analysis
6. Refrigerated Snacks Products– North America Market Analysis
6.1 Refrigerated Snacks Market Overview
6.2 North America Refrigerated Snacks Market –Revenue and Forecast To 2028 (US$ Million)
7. North America Refrigerated Snacks Market Analysis – By Type
7.1 Overview
7.2 North America 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: North America 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: North America Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Mn)
7.5 Yogurt
7.5.1 Overview
7.5.2 Yogurt: North America Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Mn)
7.6 Meat Snacks
7.6.1 Overview
7.6.2 Meat Snacks: North America 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: North America Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Mn)
7.8 Others
7.8.1 Overview
7.8.2 Others: North America Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Mn)
8. North America Refrigerated Snacks Market Analysis – By Distribution Channel
8.1 Overview
8.2 North America Refrigerated Snacks Market, By Distribution channel (2020 and 2028)
8.3 Supermarkets and Hypermarkets
8.3.1 Overview
8.3.2 Supermarkets and Hypermarkets: North America Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Mn)
8.4 Convenience Store
8.4.1 Overview
8.4.2 Convenience Store: North America Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Mn)
8.5 Online Retail
8.5.1 Overview
8.5.2 Online Retail: North America Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Mn)
8.6 Others
8.6.1 Overview
8.6.2 Others: North America Refrigerated Snacks Market – Revenue and Forecast to 2028 (US$ Mn)
9. North America Refrigerated Snacks Market– Country Analysis
9.1 Overview
9.1.1 North America: Refrigerated Snacks Market –Revenue, and Forecast to 2028 (US$ Mn)
9.1.3 North America: Refrigerated Snacks Market, by Key Country
9.1.3.1 US: Refrigerated Snacks Market – Revenue, and Forecast to 2028 (US$ Mn)
9.1.3.1.1 US: Refrigerated Snacks Market, by Type
9.1.3.1.2 US: Refrigerated Snacks Market, by Distribution Channel
9.1.3.2 Canada: Refrigerated Snacks Market – Revenue, and Forecast to 2028 (US$ Mn)
9.1.3.2.1 Canada: Refrigerated Snacks Market, by Type
9.1.3.2.2 Canada: Refrigerated Snacks Market, by Distribution Channel
9.1.3.3 Mexico: Refrigerated Snacks Market – Revenue, and Forecast to 2028 (US$ Mn)
9.1.3.3.1 Mexico: Refrigerated Snacks Market, by Type
9.1.3.3.2 Mexico: Refrigerated Snacks Market, by Distribution Channel
10. Impact of COVID-19 Pandemic on North America Refrigerated Snacks Market
10.1 Impact of COVID-19 on Refrigerated snacks Market
10.2 North America: 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
12.5 OHi Bars
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
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
12.7 ConAgra Brands, Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 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. North America Refrigerated Snacks Market –Revenue and Forecast To 2028 (US$ Million)
Table 2. North America Refrigerated Snacks Market, By Type – Revenue and Forecast To 2028 (US$ Million)
Table 3. US: Refrigerated Snacks Market, by Type –Revenue and Forecast to 2028 (US$ Mn)
Table 4. US: Refrigerated Snacks Market, by Distribution Channel –Revenue and Forecast to 2028 (US$ Mn)
Table 5. Canada: Refrigerated Snacks Market, by Type –Revenue and Forecast to 2028 (US$ Mn)
Table 6. Canada: Refrigerated Snacks Market, by Distribution Channel –Revenue and Forecast to 2028 (US$ Mn)
Table 7. Mexico: Refrigerated Snacks Market, by Type –Revenue and Forecast to 2028 (US$ Mn)
Table 8. Mexico: Refrigerated Snacks Market, by Distribution Channel –Revenue and Forecast to 2028 (US$ Mn)
Table 9. Glossary of Terms, Global Refrigerated Snacks Market
LIST OF FIGURES
Figure 1. North America Refrigerated Snacks Market Segmentation
Figure 2. North America Refrigerated Snacks Market Segmentation – By Country
Figure 3. North America Refrigerated Snacks Market Overview
Figure 4. Fruit and Vegetable Segment Held Largest Share of North America Refrigerated Snacks Market
Figure 5. US Held Largest Share of North America Refrigerated Snacks Market
Figure 6. North America Refrigerated Snacks Market, Industry Landscape
Figure 7. North America: PEST Analysis
Figure 8. Expert Opinion
Figure 9. Impact Analysis of Drivers and Restraints
Figure 11. North America: Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Million)
Figure 12. North America Refrigerated Snacks Market Revenue Share, By Type (2020 and 2028)
Figure 13. Baked Goods and Confectionery: North America Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 14. Fruits and Vegetables: North America Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 15. Yogurt: North America Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 16. Meat Snacks: North America Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 17. Sandwiches & Savory Snacks: North America Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 18. Others: North America Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 19. North America Refrigerated Snacks Market Revenue Share, By Distribution channel (2020 and 2028)
Figure 20. Supermarkets and Hypermarkets: North America Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 21. Convenience Store: North America Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 22. Online Retail: North America Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 23. Others: North America Refrigerated Snacks Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 24. North America: Refrigerated Snacks Market – Revenue by Country to 2028 (US$ Mn)
Figure 25. North America: Refrigerated Snacks Market Revenue Share, by Key Country (2020 and 2028)
Figure 26. US: Refrigerated Snacks Market – Revenue, and Forecast to 2028 (US$ Mn)
Figure 27. Canada: Refrigerated Snacks Market – Revenue, and Forecast to 2028 (US$ Mn)
Figure 28. Mexico: Refrigerated Snacks Market – Revenue, and Forecast to 2028 (US$ Mn)
Figure 29. Impact of COVID-19 Pandemic on Refrigerated Snacks Market in North America
- 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
- To understand the North America 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 North America refrigerated snacks market
- Efficiently plan M&A and partnership deals in North America 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 North America refrigerated snacks market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region