Refrigerated Snacks Market to Witness Huge Growth by Key Players: Mondelez International, Inc., Nestlé, S.A., General Mills Inc., The Kraft Heinz Company

According to our latest market study on "Refrigerated Snacks Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type (Baked Goods and Confectionery, Fruits and Vegetables, Yogurt, Meat Snacks, Sandwich and Savory Snacks, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Convenience Store, Online Retail, and Others)," the market was valued at US$ 52,042.62 Million in 2021 and is projected to reach US$ 73,768.51 Million by 2028; it is expected to grow at a CAGR of 5.1% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Refrigerated snacks are defined as those forms of snacks that require refrigeration to keep their food quality intact and expand their shelf life. Such types of snacks are prepared and kept under certain temperature conditions to preserve their overall authenticity and provide convenience in food consumption to the final consumers. The refrigerated form of snacks are cheese-based snacking, yogurt snacks, snack bars, specialty desserts, dips, and spread, among others. With the shift in consumer lifestyle, along with change in working demographics, and growing preference toward natural and fresh food, the demand for refrigerated snacks is set to rise, mostly among millennials.

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Impact of COVID-19 Pandemic on Refrigerated Snacks Market

The COVID-19 outbreak disrupted the refrigerated snacks market as there was a slowdown in the production of raw material, restrictions on supply chain and trade movements, decrease in construction demand, and decline in new projects. However, since the economies are planning to revive their operations, the demand for refrigerated snacks is presumed to rise in the coming months. In addition, most people are now working from home, and this change in lifestyle has further inspired families to buy food products online and store for a longer time. People are looking for sustainable refrigerated snacks for healthy snacking option; this is further giving an opportunity to the market players to recover their loss and to grow business through online platforms. According to the report published in the American Journal of Agriculture Economics in November 2020, the demand for fresh fruit & vegetables, grains, and frozen foods increased the most during the pandemic, which benefited small farms over agribusinesses. This increased sales by 5.7% and the number of customers by 4.9%. The variety of food products are sold on the e?commerce platform with an increased ratio, which suggests the concentration of sales on niche products could rise as more consumers are drawn to online platforms. However, despite the difficulties faced by food shoppers during the COVID-19 pandemic, including food stockouts, limited public transportation, and reduced hours mainly at supermarkets & grocery stores, most of the shoppers in developed countries such as the US have maintained adequate access to food (according to the US Food and Drug Administration 2020). Also, food processing companies are taking extra precautions to diminish person-to-person contact. Some of the safety measures followed by the companies include limiting direct contact with truck drivers & visitors, strengthening and communicating proper hygiene practices, and conducting complete sanitations and eliminating personnel contact during shift changes. With all these factors, it can be presumed that in post-pandemic times, the demand for refrigerated snacks is further expected to rise.

Refrigerated Snacks Market Company Profiles Analysis:

• Mondelez International, Inc.
• Nestlé, S.A.
• General Mills Inc.
• The Kraft Heinz Company
• Ohi Bar
• Pepsico
• Conagra Brands, Inc
• Mars Incorporated
• Danone S.A
• Hormel Foods Corporation

Refrigerated Snacks Market, by Type

• Baked Goods and Confectionery
• Fruits and Vegetables
• Yogurt
• Meat Snacks
• Sandwich and Savory Snacks
• Others

Refrigerated Snacks Market, by Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Store
• Online Retail
• Others

The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Refrigerated Snacks Market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Refrigerated Snacks Market segments and regions.

The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries including Food and Beverages, and many more. Trade barriers are further restraining the demand- supply outlook. As government of different regions have already announced total lockdown and temporarily shutdown of industries, the overall production process being adversely affected; thus, hinder the overall Refrigerated Snacks Market globally. This report on 'Refrigerated Snacks Market' provides the analysis on impact on Covid-19 on various business segments and country markets. The report also Refrigerated Snacks Market trends and forecast to 2028, factoring the impact of Covid -19 Situation.

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The research provides answers to the following key questions:

1. What is the estimated growth rate of the market for the forecast period 2022-2028? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the Refrigerated Snacks Market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Refrigerated Snacks Market?
4. What are the prominent market trends influencing the development of the Refrigerated Snacks Market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the Refrigerated Snacks Market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?

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Refrigerated Snacks Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America

Table of content:

1 Introduction
2 Key Takeaways
3 Refrigerated Snacks Market Landscape
4 Refrigerated Snacks Market - Key Industry Dynamics
5 Refrigerated Snacks Market Analysis- Global
6 Refrigerated Snacks Market Revenue and Forecasts to 2028 - Component
7 Refrigerated Snacks Market Revenue and Forecasts to 2028 -Services Model
8 Refrigerated Snacks Market Revenue and Forecasts to 2028 - Deployment Model
9 Refrigerated Snacks Market Revenue and Forecasts to 2028 - Vertical
10 Refrigerated Snacks Market Revenue and Forecasts to 2028 - Geographical Analysis
11 Industry Landscape
12 Competitive Landscapes
13 Refrigerated Snacks Market, Key Company Profiles
14 Appendix

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