Refrigerated Snacks Market
Refrigerated Snacks Market Trends and Analysis 2034
The refrigerated snacks market is on track for remarkable growth, driven by a surge in demand for convenient, healthy, and clean-label snack options. With a projected CAGR of 5.0% during the forecast period from 2024 to 2034, the market is anticipated to grow from USD 89.11 billion in 2024 to an impressive USD 132 billion by 2034. This surge reflects the growing consumer interest in healthier and on-the-go snack choices.
The demand for minimally processed, fresh, and health-conscious food products is steering the refrigerated snacks market to new heights. This trend, combined with rising awareness around sustainability, is encouraging companies to innovate and diversify their product offerings.
Market Trends Shaping the Refrigerated Snacks Market Industry
- Clean Label Revolution:
Consumers are prioritizing natural and “clean-label” products, avoiding artificial additives and preservatives. Refrigerated snacks with clean-label ingredients are seeing a spike in demand as health-conscious shoppers seek products with recognizable, natural components. - Shift Toward Plant-Based and Vegan Snacks:
Vegan refrigerated snacks are becoming increasingly popular as more consumers adopt plant-based diets. These products, often marketed as more sustainable and nutritious, have prompted brands to introduce new product lines catering to this growing demographic. - Convenience and On-The-Go Consumption:
The fast-paced lifestyle of modern consumers has fueled demand for convenient, ready-to-eat snacks. Refrigerated snacks, which offer freshness and nutritional benefits, have become the go-to option for many. - Health and Wellness Boom:
There is an uptick in demand for high-protein, low-sugar, and gluten-free refrigerated snacks as consumers prioritize health and fitness. Functional foods that offer added health benefits are playing a pivotal role in this shift. - Technological Advancements in Refrigeration:
New innovations in refrigeration technology have allowed manufacturers to improve product shelf life while preserving taste, freshness, and nutritional value.
Segment & Category Analysis in Refrigerated Snacks Market
By Nature
- Conventional Snacks: 92.3% market share in 2024.
- Organic Snacks: Growing at a faster pace due to demand for chemical-free, natural, and nutrient-rich options.
By Type
- Savory Snacks (Top-Selling, 32.5% Market Share): Consumers are gravitating toward savory options with reduced sugar and salt content.
- Fruit Snacks: Gaining momentum due to their high vitamin and antioxidant content.
- Confectionery Snacks: Witnessing growth due to innovations in flavors and organic ingredients.
- Bakery Snacks: Market share is on the rise, driven by demand for fresh, healthy baked treats.
By End-Use Application
- Retail/Household Use: Dominates with a 73.4% share of the global market. Consumers purchase refrigerated snacks for convenience, freshness, and health benefits.
- Food Service Industry: Expected to grow rapidly as food service providers offer ready-to-eat and fresh snack options.
By Sales Channel
- Hypermarkets/Supermarkets: Major distribution channel due to product visibility and consumer convenience.
- Online Retail Stores: Gaining popularity due to doorstep delivery, especially post-pandemic.
Regional Market Insights for Refrigerated Snacks Market
North America
- United States: Holds a 31.5% market share in 2024, driven by strong consumer preference for health-focused snacks.
- Canada: Increasing awareness of health and wellness is propelling demand for clean-label refrigerated snacks.
Europe
- Germany: Accounts for 7.5% of the global market, driven by demand for plant-based and organic snacks.
- United Kingdom: Projected to register a 5.0% CAGR through 2034 due to increasing awareness of health and wellness.
Asia Pacific (Excluding Japan)
- India: Experiencing robust growth, with a 5.2% CAGR, due to increased adoption of plant-based diets.
- China: Projected to grow at a 3.3% CAGR, as consumers embrace low-calorie and health-focused snacks.
Middle East & Africa (MEA)
- Increasing health consciousness and demand for convenient food are driving growth in countries like GCC countries, South Africa, and Israel.
Key Restraining Factors for Refrigerated Snacks Market
- High Cost of Organic Products: Organic refrigerated snacks are costlier than conventional alternatives, limiting their appeal to price-sensitive consumers.
- Supply Chain Challenges: Refrigerated products are perishable, and supply chain disruptions can lead to product wastage and financial losses.
Health and Wellness Focus for Refrigerated Snacks Market
With consumers adopting healthier eating habits, there is an increasing shift toward snacks with functional benefits. Brands are actively developing snacks with high protein, low sugar, and gluten-free claims. Healthy snacking is no longer a trend but a lifestyle choice, and manufacturers are tapping into this shift by offering nutritious, refrigerated snacks.
Sustainability Concerns
Consumers are seeking environmentally friendly products with minimal waste and sustainable packaging. This shift has prompted companies to offer eco-friendly packaging and increase transparency regarding product sourcing and production practices.
Market Composition in Refrigerated Snacks Market
The refrigerated snacks market is highly competitive, with the presence of numerous global and regional players.
End-Use Industries
Refrigerated snacks are in high demand in industries such as retail, foodservice, hospitality, and e-commerce platforms. Retail households dominate end-user demand, accounting for over 70% of the market share.
Company Overview & Competitive Landscape in Refrigerated Snacks Market
Leading companies in the market include:
- Nestle S.A.
- Conagra Brands, Inc.
- Danone S.A.
- General Mills Inc.
- Hormel Foods Corporation
- Mars Inc.
- PepsiCo
- The Kraft Heinz Company
These key players focus on product innovation, expansion of vegan and organic portfolios, and acquisitions of smaller brands to maintain competitive advantage.
Key Developments in Refrigerated Snacks Market
- 2021: Nestle USA launched a refrigerated snack featuring chocolate and nut butter.
- 2020: KIND Healthy Snacks expanded its portfolio to include frozen bars and chilled nut protein butter.
- General Mills Inc. acquired TNT Crust, a premium provider of frozen pizza crusts, enhancing its supply chain capabilities.
Market Figures (2024-2034) for Refrigerated Snacks Market
| Attribute | 2024 | 2034 | CAGR (2024-2034) |
| Market Size (USD Billion) | $89.11 billion | $132 billion | 5.0% |
| Top Segment (Nature) | Conventional (92.3%) | – | – |
| Leading Type | Savory Snacks (32.5%) | – | – |
| Top Region | United States (31.5%) | – | – |
Frequently Asked Questions (FAQs) for Refrigerated Snacks Market
1. How much revenue is generated from the sales of refrigerated snacks each year?
- In 2024, the market is expected to generate USD 89.11 billion in revenue.
2. Which type of refrigerated snack garners higher sales?
- Savory snacks lead with a 32.5% share of the global market.
3. How much market share does the U.S. hold in the global market?
- The United States holds a 31.5% share of the global refrigerated snacks market.
4. What is the growth outlook for refrigerated snacks in the U.K.?
- The U.K. market is expected to grow at a 5.0% CAGR through 2034.
5. Which country in Asia-Pacific is leading the refrigerated snacks market?
- India leads with an impressive 5.2% CAGR through 2034.
Contact Our Experts
Want to know more about leading players and new market entrants? Contact our advisory for exclusive insights on established and emerging players.
Take action now! Contact us today to access the full report and propel your business forward.