Market Size of Frozen Snacks Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 107.86 Billion |
| Market Size (2029) | USD 132.68 Billion |
| CAGR (2024 - 2029) | 4.23 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Frozen Snacks Market Analysis
The Frozen Snacks Market size is estimated at USD 107.86 billion in 2024, and is expected to reach USD 132.68 billion by 2029, growing at a CAGR of 4.23% during the forecast period (2024-2029).
During the COVID-19 pandemic, the frozen snacks market experienced a sudden increase in sales due to the availability of products in e-commerce stores and various supermarkets and hypermarkets offering home delivery to customers. With the rapid spread of the virus, consumers' awareness and hygiene practices increased, creating an enormous opportunity for e-commerce stores to offer contactless delivery of fully sanitized packaged food items in various countries worldwide. However, continuous innovation in the sector to provide appropriate packaging aids the overall growth of the market.
Key players are introducing new types of ingredients and products to cater to the tastes of consumers on a regional basis. The rising preference of consumers toward convenience products fuels the growing demand for frozen products due to their effortlessness and time-saving benefits as compared to cooking from scratch. The frozen snacks market is expanding rapidly due to the increasing number of working populations and their hectic lifestyles, which is expected to boost the frozen snacks market significantly.
Italian cuisine is gaining traction in the global market, and the trend of deep-frozen pizza is capturing majorities of the Asian, European, and North American markets. The manufacturers are coming up with innovative techniques to meet consumer demands and boost the growth of the market. The intake of animal protein is associated with high cholesterol levels, fat intake, and calorie intake, which increase the risk of cardiac diseases, high blood sugar levels, and obesity. Hence, consumers are showing an inclination toward vegan sources of protein, which, in turn, has created a good platform for the players offering plant-based or vegan frozen products.
