Europe Frozen Snacks Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Europe Frozen Snacks market is projected to grow at a CAGR of 6.55% during the forecast period.

Key Highlights

• The popularity of frozen snacks as a meal-compliment or even meal replacement is increasing rapidly. The increasing trend of snacking, particularly among teenagers and adults, coupled with the rise in the snack frequency among these demographic segments, is expected to boost the frozen snacks market. The demand for frozen food is continuously growing in the region, with frozen snacks showing significant popularity.
• However, the preference for fresh and natural food products, the need for maintaining a constant temperature for the sustainability of frozen foods, and high logistics costs involved, due to crop failure and shortages, act as restraining factors for the market studied.

Key Market Trends

Potato Snacks Emerged as a Prominent Segment

Potatoes are among the most preferred choices for snacking, in the region, owing to preferences according to the local palate, their ability to satiate hunger, due to the presence of carbs that provide energy to the consumers’ body, and their health benefits, as they are packed with minerals and vitamins. According to the Federal Center for Nutrition (BZfE), the consumption of freshly cooked potatoes decreased, whereas the consumption of finished potato products, including frozen potato snacks, has increased across the country. Germany is among the largest importers of their products, owing to higher consumer demand. Netherlands, Belgium, and the United Kingdom are the prominent producers of frozen potato products in the region, followed by Germany.

Germany Held a Significant Share in the Market

The fact that frozen foods are popular and in great demand in Germany is shown by the latest market data survey by Dti-das Deutsches Tiefkühlinstitut- the Association of the Frozen Food Industry in Germany: Total sales of frozen products in Germany in 2017 increased to 3,730 million metric ton (3,632 million metric ton in 2016). Many consumers are increasingly looking for a convenient frozen snack, which delivers health benefits, tastes good, and offers a healthy snacking experience. Other factors, such as packaging and shelf-life enhancement, are further contributing to the growth opportunities of the frozen snack market. Furthermore, factors, such as developments in the retail landscape and technological advancements in the cold chain, are driving the market studied.

Competitive Landscape

Europe Frozen Snacks market is consolidated with majority shares held by companies like Nomad Foods Limited, Südzucker AG, and Glendale Foods Limited owing to their high household penetration with brands Bird’s Eye, Yankee etc. High industrial profitability has led manufactures to develop powerful competitive strategies, which is intensifying the competition among the existing market players. Major players consider product innovation as their prime strategy, in order to consolidate the market studied. For instance, In 2019, Agrarfrost GmbH & Co. KG unveiled its new Crunchy Riffled Frites, a cross-over of potato deep-frozen specialty and a chips snack, opening up a completely new product segment for food retail trade, with a special focus on young consumer groups.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support