Frozen snacks have bounced back from an unstable past few years and steady, but minimal, growth is predicted looking ahead to 2022, according to Mintel. Private label brands are performing strongly and legacy frozen snack brands remain stable, especially among parents with 85% acknowledging their kids eat frozen snacks. Despite the stability, increased competition from RTE snacks, such as snack bars and salty snacks, will continue to put pressure on the frozen snack segment.
By Dan Orehov
The growing demand for frozen snacks and pastries has ensured its major share in the global frozen foods market. An increase in snacking trends among the younger populace stands as a major propeller for this surge in demand. According to a MarketsandMarkets report, about 30% to 35% of the global frozen food market was occupied by the frozen snack and pastries segment in 2017. While the frozen snacks market is expected to witness a steady double-digit growth rate, ranging from 10% to 15%, the frozen pastries segment is expected to be growing at a single-digit growth rate, ranging from 6% to 8%, by 2022.
Leaders in Europe
The above-mentioned study shows that Germany, the UK, and France largely dominate the consumption and demand for frozen snacks and pastries in Europe. However, Italy, Spain, and other smaller countries in Western Europe also account for substantial market shares in terms of consumption of frozen snacks and pastries on the continent. The region accounted for about 35% to 38% of the global frozen snacks and pastries market in 2017, thereby holding the largest market share. According to a FoodDrink Europe report dating to 2017, 14% of the household expenditure in Europe was on food and beverage products, and this amount is expected to increase in the coming years. Additionally, the consumption of packaged food and drinks in the region is projected to grow at 3% annually, until 2020, to reach about 953bn packages by 2020, according to Smithers Pira, a packaging testing service provider in the U.S. and the UK. Such factors are further expected to boost the market for frozen snacks and pastries in the region.
To read the complete article, please refer to the May-June 2019 print issue of Frozen Food Magazine Europe.