Frozen Snacks Market Size, Share, Trends and Growth Forecast by 2032

The global frozen snacks market was valued at USD 115.05 billion in 2024. It is expected to rise to USD 119.66 billion in 2025 and reach USD 161.55 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.38% during the forecast period. Europe held the largest share in 2024, accounting for 40.6% of the market.

Frozen snacks are widely recognized as convenient food solutions. Changing socioeconomic trends in emerging markets are driving increased demand for easy-to-prepare food items, such as frozen appetizers and meals. Ready-to-eat (RTE) formats—including single-serve and multi-serve frozen meals, breakfast items, and gluten-free snacks—are gaining traction among working professionals, students, and women with busy schedules.

In countries like India and China, the rise in nuclear families has further accelerated the shift toward packaged frozen foods. These products are especially popular among working couples and individuals with limited cooking skills or time. Leading manufacturers are actively targeting these demographics to enhance their market share. Major players in the market include Nestlé S.A., Tyson Foods, Inc., and Conagra Brands, Inc., among others.

According to a 2023 study conducted by the Institute of Hotel Management, Punjab (IHM PUSA), over 34% of working professionals and 21% of students in Punjab purchased RTE frozen products two to four times per week.

Information Source: https://www.fortunebusinessinsights.com/frozen-snacks-market-113437

Frozen Snacks Market Trends

Growing Demand for Plant-Based Frozen Products

Health-conscious consumers are increasingly opting for plant-based foods, driving innovation in frozen food categories. Products such as dairy-free frozen desserts, vegetable-based meals, and plant-based meat alternatives are gaining popularity. These items cater to diverse dietary needs and appeal to environmentally conscious consumers seeking both taste and sustainability.

Market Dynamics

Market Drivers:

The rising popularity of convenience foods is a key driver for the frozen snacks market, as consumers increasingly prefer quick and easy meal options. This trend gained further momentum during the COVID-19 pandemic, which significantly boosted sales across the frozen food sector. Additionally, rapid urbanization and an expanding workforce in emerging economies are transforming lifestyles, with urban consumers favoring ready-to-eat products that offer extended shelf life and require minimal preparation time.

Market Restraints and Opportunities:

Despite this growth, the market faces challenges due to inadequate cold chain infrastructure in many developing regions. The absence of reliable temperature-controlled logistics and storage systems can compromise product safety and limit market expansion. However, the growing adoption of cloud kitchens presents a significant opportunity. These virtual restaurants increasingly depend on frozen ingredients to optimize efficiency, reduce space requirements, and cut operational costs, thereby accelerating the demand for frozen snacks.

Segmentation Insights

The vegetarian (veg) segment leads the market by type, driven by its broader appeal and increased availability. By product type, the bakery segment dominates due to its widespread popularity and diverse range of offerings. In terms of distribution, supermarkets and hypermarkets hold the largest share, supported by extensive product availability and convenient access, while other important channels include specialty stores, convenience outlets, and online platforms.

Regional Insights

The market is segmented geographically into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Europe stood out as the leading region in 2024, supported by strong demand for convenience foods and well-established cold chain infrastructure.

Key Frozen Snack Companies

• FRoSTA AG (Germany)

• Conagra Brands, Inc. (U.S.)

• Kellanova (The Kellogg Company) (U.S.)

• Nestlé S.A. (Switzerland)

• Lantmännen Unibake International (Denmark)

• The Kraft Heinz Company (U.S.)

• Unilever Plc (U.K.)

• Tyson Foods, Inc. (U.S.)

• Godrej Industries (India)

• Nomad Foods (U.K.)

Recent Industry Development

April 2024: Newman’s Own, Inc., a U.S.-based food and beverage company, expanded its frozen snack offerings by launching a new line of thick crust sourdough pizzas. The range features premium ingredients and includes flavors such as Uncured Pepperoni Ricotta, Meatball, and Five Cheese.