Published Date: 28-Feb-2022
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According to a new report Global Refrigerated Snacks Market, published by KBV research, The Global Refrigerated Snacks Market size is expected to reach $141.1 billion by 2027, rising at a market growth of 5.5% CAGR during the forecast period.
The Residential market acquired maximum revenue share in the Global Refrigerated Snacks Market by End User 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $86.9 billion by 2027. This is because of the rising adoption of sedentary lifestyles and hectic schedules which encourages many people to consume these snacks to save cooking time.
The Savory Snacks market is generating high revenue in the Global Refrigerated Snacks Market by Type 2020, thereby, achieving a market value of $48.1 billion by 2027. Savory snack refers to food products containing salts such as potato chips, savory biscuits, tacos, and other baked snacks. Due to their time-saving nature, these savory snacks come under the category of convenience food. There has been a flourishing demand for savory snacks from the youngsters, thereby boosting the growth of the segment.
The Specialty Stores market shows highest growth rate of 5.1% during (2021 - 2027). This is because Specialty stores have specific variety of products offering different prices and brands. Various refrigerated snacks are easily available at these stores with the limited choice which allow the consumers to easily choose among the available options. The limited variety offered by these stores attracts the consumers to shop from such stores.
The Europe market is the fastest growing region in the Global Refrigerated Snacks Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $47.2 billion by 2027. The North America market is expected to witness a CAGR of 5.3% during (2021 - 2027). Additionally, The Asia Pacific market is expected to witness a CAGR of 5.6% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Ajinomoto Co. Inc., Charoen Pokphand Foods Public Company Limited, Keventer Agro Limited, Cargill Corporation, Nestle S.A., Conagra Brands, Inc., General Mills, Inc., The Kraft Heinz Company, Unilever PLC, and McCain Foods Limited.
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