While it clearly remains in the category of comfort, frozen finger food has joined most categories in embracing healthier standards. This doesn’t seem to have had a major impact on manufacturers, as they spared little time coming up with options that should satisfy any type of consumer.
The global frozen snacks market is projected to grow at a CAGR of 7.2% during the forecast period (2022 – 2027). During the COVID-19 situation the frozen snacks market experienced sudden increase in sales with the availability of products in the e-commerce stores along with various supermarkets and hypermarkets with home delivery option for the consumers.
Consciousness and hygiene was major prospective among the consumers which has created an immense opportunity for the e-commerce stores to come up with contactless delivery with fully sanitized packaged food items in various countries around the globe, according to a new report by Mordor Intelligence. Convenience is one of the key factors driving the increase in consumption of frozen food items, globally. Hence, leading players are introducing new types and ingredients to cater to the taste of consumers, on a regional basis.
The rising preference of consumer toward convenience products fuel the growing demand for frozen products due to its effortless and time saving beneficial factor as compared to cooking from scratch. The frozen snacks food market is growing abundantly owing to the rising volume of hectic lifestyle of working population around the globe which in turn is boosting majorly the frozen snacks market. Gastronomy-wise, Italian cuisine is gaining traction in the global market. In terms of trends, consumers are showing an inclination toward vegan sources of protein, which, in turn, has created a good platform for the players offering plant-based/vegan frozen products.
Across the world, the frozen or the convenience food industry, which started by offering basic frozen vegetables and fries, today offers a wide range of snacks products, ranging from vegan snacks items to frozen meats and ready-to-cook products. With the increasing customer appetite and acceptance, the frozen snacks market has recorded a healthy growth rate, complemented by an increase in selling points and deeper penetration by organized retail players, as well as an increase in the available freezer space in retail channels, the report shows.
The changing lifestyles of consumers offer several opportunities for manufacturers across industries. Several factors have led to the growing acceptance of western food in the developing countries, thereby, enabling the need for on-the-move foods, thus, in turn, enhancing the demand for frozen snacks altogether.
To read the entire article, please access your complimentary e-copy of Frozen Food Europe May-June, 2022 issue here.