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North America Refrigerated Snacks Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type and Distribution Channel

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    Report

  • 85 Pages
  • July 2021
  • Region: North America
  • The Insight Partners
  • ID: 5416202
UP TO OFF until Mar 31st 2024
Fruits and Vegetables Segment to Dominate North America Refrigerated Snacks Market during 2020-2028

According to a new market research study on “North America Refrigerated Snacks Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by type, and distribution channel,” is expected to reach US$ 20,507.65 million by 2028 from US$ 14,211.86 million in 2021. The market is estimated to grow at a CAGR of 5.4% from 2021 to 2028. The report provides trends prevailing in the North America refrigerated snacks market along with the drivers and restraints pertaining to the market growth. Increasing consumer awareness towards healthy snacking items are the major factor driving the growth of the North America refrigerated snacks market. However, issues associated with the food safety and quality issues associated with refrigerated snacks hinder the growth of North America refrigerated snacks market.

The market is being disrupted by COVID-19 because of the slowdown of raw material production, supply chain instability, hampered trade movements, and other reasons. The outbreak has distorted operational efficiency and disrupted the value chains due to the sudden shutdown of national and international boundaries, creating revenue loss and damage. The disturbed value chain has had a negative impact on raw material supply and further impacting the refrigerated snacks market. However, since the economies are planning to revive their operations, the demand for refrigerated snacks is presumed to rise in the coming months. In addition, most people are now working from home, and this change in lifestyle has further inspired families to buy food products online and to store for a longer time. And people are highly looking for sustainable refrigerated snacks for healthy snacking option; this is further giving an opportunity to the market players to recover their loss and to grow business through online platforms. According to the report published in the American Journal of Agriculture Economics in November 2020, the demand for fresh fruit & vegetables, grains, and frozen foods increased the most during the pandemic, which benefited small farms over agribusinesses. This increased sales by 5.7% and the number of customers by 4.9%. The variety of food products are sold on the e‐commerce platform with an increased ratio, which suggests the concentration of sales on niche products could rise as more consumers are drawn to online platforms. However, despite the difficulties faced by food shoppers during the Covid-19 pandemic, including food stockouts, limited public transportation, and reduced hours mainly at supermarkets & grocery stores, most of the shoppers in developed countries like the US have maintained adequate access to food (according to the US Food and Drug Administration 2020). Also, food processing companies are taking extra precautions to diminish person-to-person contact. The US in North America has the highest number of confirmed cases of COVID-19 among all key countries. Last year the pandemic impacted the overall food and beverage industry in the region, including the processed food market. However, post-pandemic, purchasing of food products with refrigerated snacks are increasing mainly through the online platform, which is going to put a positive impact upon the studied market.

The market for refrigerated snacks market is segmented into type, distribution channel, and country. Based on type, the North America refrigerated snacks market is categorized into baked goods and confectionery, fruits and vegetables, yogurt, meat snacks, sandwiches and savory snacks, and others. In 2020, the fruit and vegetable segment led the market. In 2020, the fruits and vegetables segment held the largest share North America refrigerated snacks market Based on distribution channel, the North America refrigerated snacks market is categorized into supermarkets and hypermarkets, convenience store, online retail and others. In 2020, the supermarkets and hypermarkets segment dominated the refrigerated snacks market.

Conagra Brands, Inc.; Danone S.A.; General Mills Inc.; Hormel Foods Corporation; Mars Incorporated; Mondelez International, Inc.; Nestle S.A; OHi Bars; PepsiCo; The Kraft Heinz Company; are among the leading companies in the North America refrigerated snacks market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Danone S.A. partners with Bright seed, a bioscience company.

The report segments the North America Refrigerated Snacks Market as follows:


North America Refrigerated Snacks Market - By Type

  • Baked Goods and Confectionery
  • Fruits and Vegetables
  • Yogurt
  • Meat Snacks
  • Sandwiches and Savory Snacks
  • Others

North America Refrigerated Snacks Market - By Distribution Channel

  • Supermarkets and Hypermarkets
  • Convenience Store
  • Online Retail
  • Others

North America Refrigerated Snacks Market - By Country

  • US
  • Canada
  • Mexico

Reasons to buy:

  • To understand the North America refrigerated snacks market landscape and identify market segments that are most likely to guarantee a strong return
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for North America refrigerated snacks market
  • Efficiently plan M&A and partnership deals in North America refrigerated snacks market by identifying market segments with the most promising probable sales
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America refrigerated snacks market
  • Obtain market revenue forecast for market by various segments from 2021-2028 in North America region
Frequently Asked Questions about the North American Refrigerated Snacks Market

What is the estimated value of the North American Refrigerated Snacks Market?

The North American Refrigerated Snacks Market was estimated to be valued at $14211.86 Million in 2021.

What is the growth rate of the North American Refrigerated Snacks Market?

The growth rate of the North American Refrigerated Snacks Market is 5.4%, with an estimated value of $20507.65 Million by 2028.

What is the forecasted size of the North American Refrigerated Snacks Market?

The North American Refrigerated Snacks Market is estimated to be worth $20507.65 Million by 2028.

Who are the key companies in the North American Refrigerated Snacks Market?

Key companies in the North American Refrigerated Snacks Market include Conagra Brands, Inc., Danone S.A., General Mills Inc., Hormel Foods Corporation, Mars Incorporated, Mondelez International, Inc., Nestle S.A, OHi Bars, PepsiCo and The Kraft Heinz Company.

Table of Contents

1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection
3.2.2 Primary Interviews
3.2.3 Hypothesis Formulation
3.2.4 Macro-economic Factor Analysis
3.2.5 Developing Base Number
3.2.6 Data Triangulation
3.2.7 Country Level Data
4. North America Refrigerated Snacks Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Expert Opinion
5. North America Refrigerated Snacks Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Consumer Awareness Towards Healthy Snacking Items
5.1.2 Rise in Demand for Convenience Foods
5.2 Market Restraints
5.2.1 Food Safety and Quality Issues Associated with Refrigerated Snacks
5.3 Market Opportunities
5.3.1 New Product Launches
5.4 Future Trends
5.4.1 Growing Demand for Fresh Snacks and Plant-Based Refrigerated Snacks
5.5 Impact Analysis
6. Refrigerated Snacks Products - North America Market Analysis
6.1 Refrigerated Snacks Market Overview
6.2 North America Refrigerated Snacks Market -Revenue and Forecast To 2028 (US$ Million)
7. North America Refrigerated Snacks Market Analysis - By Type
7.1 Overview
7.2 North America Refrigerated Snacks Market, By Type (2020 and 2028)
7.3 Baked Goods and Confectionery
7.3.1 Overview
7.3.2 Baked Goods and Confectionery: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
7.4 Fruits and Vegetables
7.4.1 Overview
7.4.2 Fruits and Vegetables: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
7.5 Yogurt
7.5.1 Overview
7.5.2 Yogurt: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
7.6 Meat Snacks
7.6.1 Overview
7.6.2 Meat Snacks: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
7.7 Sandwiches & Savory Snacks
7.7.1 Overview
7.7.2 Sandwiches & Savory Snacks: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
7.8 Others
7.8.1 Overview
7.8.2 Others: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
8. North America Refrigerated Snacks Market Analysis - By Distribution Channel
8.1 Overview
8.2 North America Refrigerated Snacks Market, By Distribution channel (2020 and 2028)
8.3 Supermarkets and Hypermarkets
8.3.1 Overview
8.3.2 Supermarkets and Hypermarkets: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
8.4 Convenience Store
8.4.1 Overview
8.4.2 Convenience Store: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
8.5 Online Retail
8.5.1 Overview
8.5.2 Online Retail: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
8.6 Others
8.6.1 Overview
8.6.2 Others: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
9. North America Refrigerated Snacks Market - Country Analysis
9.1 Overview
9.1.1 North America: Refrigerated Snacks Market -Revenue, and Forecast to 2028 (US$ Mn)
9.1.3 North America: Refrigerated Snacks Market, by Key Country
9.1.3.1 US: Refrigerated Snacks Market - Revenue, and Forecast to 2028 (US$ Mn)
9.1.3.1.1 US: Refrigerated Snacks Market, by Type
9.1.3.1.2 US: Refrigerated Snacks Market, by Distribution Channel
9.1.3.2 Canada: Refrigerated Snacks Market - Revenue, and Forecast to 2028 (US$ Mn)
9.1.3.2.1 Canada: Refrigerated Snacks Market, by Type
9.1.3.2.2 Canada: Refrigerated Snacks Market, by Distribution Channel
9.1.3.3 Mexico: Refrigerated Snacks Market - Revenue, and Forecast to 2028 (US$ Mn)
9.1.3.3.1 Mexico: Refrigerated Snacks Market, by Type
9.1.3.3.2 Mexico: Refrigerated Snacks Market, by Distribution Channel
10. Impact of COVID-19 Pandemic on North America Refrigerated Snacks Market
10.1 Impact of COVID-19 on Refrigerated snacks Market
10.2 North America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Mergers & acquisition
11.2 Product Launch
11.3 Product News
11.4 Merger and Acquisition
11.5 Company News
12. Company Profiles
12.1 Mondelez International, Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Nestle S.A
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.3 General Mills Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 The Kraft Heinz Company
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 OHi Bars
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.6 PepsiCo
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.7 ConAgra Brands, Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.8 Mars Incorporated
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Danone S.A.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products And Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Hormel Foods Corporation
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products And Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About
13.2 Glossary
List of Tables
Table 1. North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Million)
Table 2. North America Refrigerated Snacks Market, By Type - Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Refrigerated Snacks Market, by Type - Revenue and Forecast to 2028 (US$ Mn)
Table 4. US: Refrigerated Snacks Market, by Distribution Channel - Revenue and Forecast to 2028 (US$ Mn)
Table 5. Canada: Refrigerated Snacks Market, by Type - Revenue and Forecast to 2028 (US$ Mn)
Table 6. Canada: Refrigerated Snacks Market, by Distribution Channel - Revenue and Forecast to 2028 (US$ Mn)
Table 7. Mexico: Refrigerated Snacks Market, by Type - Revenue and Forecast to 2028 (US$ Mn)
Table 8. Mexico: Refrigerated Snacks Market, by Distribution Channel - Revenue and Forecast to 2028 (US$ Mn)
Table 9. Glossary of Terms, Global Refrigerated Snacks Market
List of Figures
Figure 1. North America Refrigerated Snacks Market Segmentation
Figure 2. North America Refrigerated Snacks Market Segmentation - By Country
Figure 3. North America Refrigerated Snacks Market Overview
Figure 4. Fruit and Vegetable Segment Held Largest Share of North America Refrigerated Snacks Market
Figure 5. US Held Largest Share of North America Refrigerated Snacks Market
Figure 6. North America Refrigerated Snacks Market, Industry Landscape
Figure 7. North America: PEST Analysis
Figure 8. Expert Opinion
Figure 9. Impact Analysis of Drivers and Restraints
Figure 11. North America: Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Million)
Figure 12. North America Refrigerated Snacks Market Revenue Share, By Type (2020 and 2028)
Figure 13. Baked Goods and Confectionery: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 14. Fruits and Vegetables: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 15. Yogurt: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 16. Meat Snacks: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 17. Sandwiches & Savory Snacks: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 18. Others: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 19. North America Refrigerated Snacks Market Revenue Share, By Distribution channel (2020 and 2028)
Figure 20. Supermarkets and Hypermarkets: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 21. Convenience Store: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 22. Online Retail: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 23. Others: North America Refrigerated Snacks Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 24. North America: Refrigerated Snacks Market - Revenue by Country to 2028 (US$ Mn)
Figure 25. North America: Refrigerated Snacks Market Revenue Share, by Key Country (2020 and 2028)
Figure 26. US: Refrigerated Snacks Market - Revenue, and Forecast to 2028 (US$ Mn)
Figure 27. Canada: Refrigerated Snacks Market - Revenue, and Forecast to 2028 (US$ Mn)
Figure 28. Mexico: Refrigerated Snacks Market - Revenue, and Forecast to 2028 (US$ Mn)
Figure 29. Impact of COVID-19 Pandemic on Refrigerated Snacks Market in North America

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Conagra Brands, Inc.
  • Danone S.A.
  • General Mills Inc.
  • Hormel Foods Corporation
  • Mars Incorporated
  • Mondelez International, Inc.
  • Nestle S.A
  • OHi Bars
  • PepsiCo
  • The Kraft Heinz Company