Middle East & Africa Refrigerated Snacks Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type and Distribution Channel

Middle East & Africa Refrigerated Snacks Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type and Distribution Channel

  • July 2021 •
  • 86 pages •
  • Report ID: 6134704 •
  • Format: PDF
The refrigerated snacks market in MEA is expected to grow from US$ 3,158.90 million in 2021 to US$ 4,426.11 million by 2028; it is estimated to grow at a CAGR of 4.9% from 2021 to 2028. New product launches is also bolstering the growth of the industry. The rise in popularity of refrigerated snacks has motivated the manufacturers to boost the production volume and undertake investment in research and development and new product development of refrigerated snacks with an exotic taste that could suit consumer needs. The rise in industrial field expenditures and increasingly intense competition, and the growing adoption of refrigerated snacks as snacking ingredients have driven the demand for new product launches. Besides, the key players in the market are launching new products with a unique combination of organic or natural ingredients, which is quite different from traditional refrigerated snacks. Manufacturers are experimenting with several elements, texture, flavor, and nutritional ingredients. For instance, in September 2020, Hormel Foods introduced Hormel Black Label Egg Bites and Breakfast Combos. This will further enhance the company’s product portfolio and thereby strengthen its sales in the coming years. Also, in February 2020, KIND launched KIND Nut Butter Bar, its first-ever refrigerated, smooth, and creamy nut butter protein bar. It has three different varieties, including creamy peanut butter, chocolate peanut butter, and honey almond butter. The key manufacturers also have been financing this opportunity by packaging their products more conveniently to make them easier to consume on the go and increase shelf life. The factors such as flexible products matching consumer needs, innovative concepts, and busy lifestyles are anticipated to benefit market growth

Saudi Arabia started the highest number of COVID-19 cases in the Middle East & Africa region, followed by Turkey and the UAE.The UAE is the Middle East & Africa was the first country to report a confirmed case of COVID-19.

Due to the lockdowns in the Middle East & African countries, numerous food and beverage companies remain closed, and production activities have also been halted.However, with extra precautionary measures, food manufacturers have started their operation, and mostly, they are going online to offer products.

The sale of food products has been increased mainly through online retail rather than supermarkets & hypermarkets. Hence, there are opportunities for refrigerated snack manufacturers to invest in this market

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 MEA 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 MEA 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 MEA 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 MEA refrigerated snacks market
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