Industry Background:
Refrigerated snacks is a big industry, and it is still a narrow category in countries like India partially because of a strong preference for fresh food among Indian consumers. Though with the increasing number working population, majorly ration of working women looking for convenience the segment offers growth potential. To counter this growing requirement the manufacturers are providing a complete range of refrigerated food. Refrigerated snacks, which include yogurt, cheese snacks, and pudding, demand increased by nearly ~6.4% in the Asia Pacific.This growth is primarily driven by High Growth in Penetration of Prepared B&M Formats Including Supermarket and Other Convenience Stores in Metro and Tier 1 Cities and The Emergence of E-Commerce, the Food Retail Segment.
Globally, a noticeable market trend is evident Rapid Adoption of Frozen Fires and Snacks
. Major Vendors, such as Nestle (Switzerland), Ajinomoto, Inc. (Japan), Cargill Incorporated (United States), Mondelez International (United States), ConAgra Foods, Inc. (United States), General Mills, Inc. (United States), Keventer Agro Limited (India), Kraft Heinz (United States), McCain Foods Limited (Canada) and Unilever plc (United Kingdom) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In Oct 2021, Nestle announced the launch of chilled snacking "bombs" made with creamy nut butter and premium chocolate. The company aims to enhance its offering in refrigerated snacks segments and become more competent in this industry.
Market Drivers
- High Growth in Penetration of Prepared B&M Formats Including Supermarket and Other Convenience Stores in Metro and Tier 1 Cities
- The Emergence of E-Commerce, the Food Retail Segment
Market Trend
- Rapid Adoption of Frozen Fires and Snacks
- Technology Advancement in the Food Processing Industry
- Advancement in Packaging for Enhanced Shelf Life and Product Differentiation
Restraints
- Increase in Market Competency
- Unfavorable Business Decision from the Competitors
- High Cost of Transportation of Raw Materials
Opportunities
Technology Development in Cold Chain Infrastructure by Market Players to Shape Infrastructure in Retail Stores and Strengthening Food Regulatory Ecosystem
Challenges
Lack of Infrastructure for the Refrigerated Snacks in Under Developing Regions
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Refrigerated Snacks Study Sheds Light on
The Refrigerated Snacks Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Refrigerated Snacks industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Refrigerated Snacks industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.