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

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

  • July 2021 •
  • 88 pages •
  • Report ID: 6134657 •
  • Format: PDF
The refrigerated snacks market in Europe is expected to grow from US$ 16,822.25 million in 2021 to US$ 22,720.70 million by 2028; it is estimated to grow at a CAGR of 4.4% from 2021 to 2028. Increasing consumer awareness towards healthy snacking items is also bolstering the growth of the industry. The trend towards healthy snacking is rising amongst consumers. With the growing focus towards health, consumers have shifted their focus towards nutritional and high-quality food products rich in protein, minerals, vitamins, and others. The trend towards healthy living has bolstered the demand for nutritional snacking food items. Amongst other essential nutrients, the demand for protein in refrigerated snacking products is comparatively high. The protein content is highlighted as a primary functional ingredient in many snacking segments. Proteins are the building blocks to maintain the structure and functions of the human body. Diet-conscious and health-conscious consumers nowadays tend to prefer the healthy snacking option, which provides a rich amount of protein, fiber, vitamins, and other nutritional profiles. The consumption of essential nutrients helps to promote proper growth and development in children, teenagers, and pregnant women. People consuming more protein tend to better maintain bone mass and have a much lower risk of osteoporosis and fractures. High protein intake has boosted metabolism that results in the burning of a high number of calories. These benefits of protein are hence attracting consumers towards protein-rich food and beverages available in the market. Hence, looking into the market’s demand, convenient food manufacturers are offering refrigerated snacks with nuts, fruits, vegetables, and other healthy ingredients. Healthy snacks such as Greek yogurt, protein snack bar, cottage cheese are extensively available in the market. Increasing consumption of plant protein along with the growing trend in clean label, gluten-free, and natural products is also contributing to the refrigerated snacks market. Some people prefer to have a small meal like snacks during the busy day, which can even replace the heavy meal. Protein-based snacks are further popular among sportspeople, athletics, and bodybuilders. This further creates a massive demand for refrigerated snacks among consumers.
In Europe, currently, the UK, and Russia, followed by France, Spain, Italy, and Germany are the hardest-hit countries by the COVID-19 pandemic.These countries are estimated to suffer an economic hit due to the lack of revenue from various industries.

Other member states have implemented drastic measures and travel restrictions, including partial closing of their border.Last year, the COVID-19 outbreak also affected the supply chain of raw materials required for the food & beverage industry to a greater extent; however, market players are coming up with new strategies, research, and development activities, to offers better products in the refrigerated snacks market.

This will eventually create more demand for convenient snacks such as refrigerated snacks in the region.

The fruits and vegetables segment led the refrigerated snacks market based on type in 2020.The fruit snacks are usually a sweet confectionery and are similar item to gummy candies.

The main content found in fruits snack is sugar, particularly refined sugar obtained from concentrated white grape juice as well as apple juice.Some fruit snacks contain more sugar than gummy candies, and they regularly have less protein.

Fruit snacks are gaining popularity owing to their convenience, candy-like taste, and health benefits.Products such as Welch’s fruit snacks contain some fruit purees.

On the other hand, there are some products that only have trace amounts of juice, in addition to sugar. However, most of the kids, even adults, found fruits snacks attractive, which is propelling the demand for fruit snacks. Companies such as Del Monte Foods, Inc. offers a variety of fruit snacks such as Fruit Naturals Yellow Cling Peach Chunks - No Sugar Added, SunFresh Citrus Salad - No Sugar Added, and SunFresh Mango Chunks in Extra Light Syrup. Refrigerated vegetable snacks are also gaining popularity among consumers for their convenience of eating. Companies such as McCain Foods Limited and Godrej (Yummiez) are offering different products such as crispy happy potato, crispy burger patty, veggie fingers, mini samosa, and aloo tiki. To Be Honest is offering a vegetable chips combo with spiced okra, crispy beetroot, and golden sweet potato flavor, which is ultimately drives the refrigerated snacks market.
The overall Europe refrigerated snacks market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the Europe refrigerated snacks market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe refrigerated snacks market. Danone S.A.; General Mills Inc.; Hormel Foods Corporation; Mars Incorporated; Mondelez International, Inc.; Nestle S.A; PepsiCo; and The Kraft Heinz Company are among the leading companies in the Europe refrigerated snacks market.
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