According to Technavio, the market for frozen snack foods is projected to expand by USD14.44bn over the period up to 2027. Additionally, over the course of the said period, the market’s growth pace will advance at a CAGR of 6.48%.
The market for frozen snack foods is primarily driven by an increase in the introduction of frozen goods. But elements like regular product recalls could stifle industry expansion.
Throughout the forecast period, the market share of the segments for appetizers, meat alternatives, and bakery goods will grow considerably. This category primarily consists of frozen sandwiches, frozen cheese nibbles, meat alternatives, and other frozen appetizers. Furthermore, there’s a growing market for frozen foods, particularly vegan pizzas from underdeveloped nations.
DEurope is expected to contribute 38% of the growth in the global market. Rapid urbanization has resulted in fewer living spaces and busier lifestyles, which is one of the key causes that has greatly aided in the market’s expansion in the area. Furthermore, consumers in the area are beginning to view frozen foods as more convenient and possibly healthier options, which is contributing to their growing preference.
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