The US frozen snacks market is estimated to grow at a CAGR of 6.8% during the forecast period. As per the American Frozen Food Institute (AFFI), during the period, March to mid-April 2020, in the US, 86% of consumers had bought frozen food; of these 7% were new buyers of frozen food, who rarely or never purchased frozen food items before. The most frequently purchased frozen food categories were frozen meat/poultry, vegetables, and pizza. Nearly 1/3rd of consumers stocked up more than normal on frozen pizza, vegetables, and meat/poultry than pre-pandemic. With the growing consumption of frozen foods, some new launch for frozen snacks has been witnessed in the country. For instance, in June 2020, Tajín International Corp. declared the launch of Outshine frozen snacks in the US. It is a frozen fruit bar which is a suitable sweet and tangy combination of a sprinkle of the chili-lime seasoning and real juicy mangos. Outshine partnered with Tajín to introduce a new twist on the classic pairing of chili-lime and Mango. These new launches with innovative flavors support to widen the consumer base of frozen snacks, which in turn, is driving the market growth.
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Scope of the US Frozen Snacks Market
Market Coverage
- The market number available for 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Product and Distribution Channel
- Competitive Landscape- General Mills Inc., Nestlé S.A., CJ CheilJedang Corp., and Tyson Foods, Inc.
Recent Strategic Initiatives in the US Frozen Snacks Market
- In August 2020, General Mills Inc. plans to leverage the production of its Totino’s series of pizza snacks with the expansion to its plant in Wellston, Ohio, US. This will enable the company to meet the increased demand for frozen pizzas in the country.
- In February 2019, B&G Foods, Inc. acquired Farmwise LLC, a manufacturer of frozen veggie snacks, including Veggie Fries, Veggie Tots, and Veggie Rings. This will enable B&G Foods to expand its frozen snack offerings, which in turn, is expected to drive its market share.
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from the pre-COVID forecast
o Most affected segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
US Frozen Snacks Market-Segmentation
By Product
- Pizza
- Potato Fries
- Puffs
- Meat Snacks
- Others
By Distribution Channel
- Retail
- Food Service Chain
A full report of US Frozen Snacks Market is available at: https://www.omrglobal.com/industry-reports/us-frozen-snacks-market
