Refrigerated snacks are defined as those forms of snacks, which requires refrigeration to keep intact their food quality and expand their life span. Such types of snacks are prepared and kept under certain temperatures conditions, which preserves their overall authenticity and provides convenience in food consumption to the final consumers. The refrigerated form of snacks includes cheese based snacking, yogurt snacks, snack bars, cookies, specialty desserts, dips and spread and much more. With the shift in consumer lifestyle along with change in working demographics and growing preference towards natural and fresh food, the demand for refrigerated snacks is set to rise, mostly amongst millennial population.
Market Overview and Dynamics
The U.S refrigerated snacks market is accounted to US$ 20,395.84 Million in 2019 and is expected to grow at a CAGR of 6.7% during the forecast period 2020 – 2027, to account to US$ 36,516.28 Million by 2027. Increasing consumer awareness regarding the benefits of protein rich food propels the market growth in the region.
Effect of COVID-19 on U.S Refrigerated Snacks Market
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. Food and beverage is one the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the travel bans and shutdowns imposed across the US are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the industries in a negative manner and thus act as restraining factor for the growth of various markets related to this industry in the coming months. This is likely to impact the consumer food and beverage industry in the US as, due to the COVID-19, the supply chain is likely to get affected. In addition, the overall manufacturing processes, research, and development activities will also negatively impact the US refrigerated market growth.
Key Market Segments
Based on type, the refrigerated snacks market is segmented into fruit and vegetable snacking, snack combos, cheese snacking, yogurt snacks, cookie dough, snack bars, sweet goods and specialty desserts, and others. The others segment is expected to grow at the highest CAGR during the forecast period. Based on distribution channel, the refrigerated snacks market is segmented into supermarkets and hypermarkets, specialty store, online, others. The supermarkets and hypermarkets segment led the market in 2019 with the largest share, whereas the others segment is anticipated to grow with the highest CAGR.
Major Sources and Companies Listed
A few of the key players in the U.S refrigerated snacks market are Better Bites Bakery, CONAGRA BRANDS, INC, DANONE S.A, DELIGHTED BY Desserts, GENERAL MILLS, INC., HAIL MERRY, Honey Mama’s, Hormel Foods Corporation, Justin’s, KIND, MARS INCORPORATED, Nelly’s Organic, Nestlé, S.A., Nutt Zo LLC, OHi Bar, PEPSICO, PERFERCT BAR, LLC , SARGENTO FOODS INCORPORATED, Sweet Loren's, Inc. and THE KRAFT HEINZ COMPANY
Reasons to buy the report
- To understand the U.S refrigerated snacks market landscape and identify segments that are most likely to guarantee a strong return
- To stay ahead of the race by comprehending the ever-changing competitive landscape of the U.S refrigerated snacks market
- To efficiently plan merger and acquisition, and partnership deals in U.S refrigerated snacks market by identifying market segments with the most promising probable sales
- To take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment from the market
- To obtain revenue forecast for the market based on various segments from 2018 to 2027
U.S REFRIGERATED SNACKS MARKET SEGMENTATION
U.S Refrigerated Snacks Market – by Type
- Fruit and Vegetable Snacking
- Snack Combos
- Cheese Snacking
- Yogurt Snacks
- Cookie Dough
- Snack Bars
- Sweet Goods and Specialty Desserts
U.S Refrigerated Snacks Market – by Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Store
- Better Bites Bakery
- CONAGRA BRANDS, INC
- DANONE S.A
- DELIGHTED BY Desserts
- GENERAL MILLS, INC.
- HAIL MERRY
- Honey Mama’s
- Hormel Foods Corporation
- MARS INCORPORATED
- Nelly’s Organic
- Nestlé, S.A.
- Nutt Zo LLC
- OHi Bar
- PERFERCT BAR, LLC
- SARGENTO FOODS INCORPORATED
- Sweet Loren's, Inc.
- THE KRAFT HEINZ COMPANY.