Market Trends of North America Frozen Snacks Industry
This section covers the major market trends shaping the North America Frozen Snacks Market according to our research experts:
Supermarkets Emerged as a Prominent Segment
Owing to a huge retail space catering to a wide variety of preferences, the supermarkets/ hypermarkets segment is a dominant channel, in terms of sales of frozen snacks, across the country. Factors, such as business expansion, increasing number of hypermarkets and supermarkets, are expected to add to the sales of these retail formats and significantly contribute to the frozen snack market's growth. Moreover, with the presence of stores such as Walmart, Target, and their own in-house brands adding on to product options. Private label brands offer quality products at relatively lower prices than products offered by many major brands, increasing the market desirability among consumers
The United States Led the Regional Market
The United States, being one of the most developed nations, demands for highly convenient and time saving meals, owing to their busy lifestyle. The magazine Winsight Grocery Business reveals that 81% of US millennials opt for frozen foods for convenient breakfast options for kids, portraying significant rise in demand for frozen fruit snacks in the country. This is also anticipated to push the market for frozen bakery products like baguette, pretzels etc. Moreover, according to a survey conducted by co-operative Welch's in 2017, about 92% of millennials reported to have been replacing their meals with snacks. The data enlightens great scope for overall snack industry to boom in the market studied, especially that comes in frozen formats due to its high potency to be more filling than a regular packet of chips.
