North America Refrigerated Snacks Market to Grow at a CAGR of 5.4% to reach US$ 20,507.65 million from 2021 to 2028

North America Refrigerated Snacks Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Baked Goods and Confectionery, Fruits and Vegetables, Yogurt, Meat Snacks, Sandwiches and Savory Snacks, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Convenience Store, Online Retail, and Others)

Publication Month : Jul 2021

  • Report Code : TIPRE00023477
  • Category : Food and Beverages
  • Status : Published
  • No. of Pages : 85
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The refrigerated snacks market in North America is expected to grow from US$ 14,211.86 million in 2021 to US$ 20,507.65 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2021 to 2028.



The US, Canada, and Mexico are major economies in North America Increasing consumer awareness towards healthy snacking items are the major factor driving the growth of the North America refrigerated snacks market. The trend towards healthy snacking is rising amongst consumers. With the growing focus towards health, consumers have shifted their focus towards nutritional and high-quality food products rich in protein, minerals, vitamins and others. The trend towards healthy living has bolstered the demand for nutritional snacking food items. Amongst other essential nutrients, the demand for protein in refrigerated snacking products is comparatively high. The protein content is highlighted as a primary functional ingredient in many snacking segments. Proteins are the building blocks to maintain the structure and functions of the human body. Diet-conscious and health-conscious consumers nowadays tend to prefer the healthy snacking option, which provides a rich amount of protein, fiber, vitamins, and other nutritional profiles. The consumption of essential nutrients helps to promote proper growth and development in children, teenagers, and pregnant women. People consuming more protein tend to better maintain bone mass and have a much lower risk of osteoporosis and fractures. High protein intake has boosted metabolism that results in the burning of a high number of calories. These benefits of protein are hence attracting consumers towards protein-rich food and beverages available in the market. Hence, looking into the market’s demand, convenient food manufacturers are offering refrigerated snacks with nuts, fruits, vegetables, and other healthy ingredients. Healthy snacks such as Greek yogurt, protein snack bar, cottage cheese are extensively available in the market. Increasing consumption of plant protein along with the growing trend in clean label, gluten-free, and natural products is also contributing to the refrigerated snacks market. Some people prefer to have a small meal like snacks during the busy day which can even replace the heavy meal. Protein-based snacks are further popular among sportspeople, athletics, and bodybuilders. This further creates a massive demand for refrigerated snacks among consumers, which is further anticipated to drive the market in North America.

The market is being disrupted by COVID-19 because of the slowdown of raw material production, supply chain instability, hampered trade movements, and other reasons. The outbreak has distorted operational efficiency and disrupted the value chains due to the sudden shutdown of national and international boundaries, creating revenue loss and damage. The disturbed value chain has had a negative impact on raw material supply and further impacting the refrigerated snacks market. 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 to store for a longer time. And people are highly 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 like 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. The US in North America has the highest number of confirmed cases of COVID-19 among all key countries. Last year the pandemic impacted the overall food and beverage industry in the region, including the processed food market. However, post-pandemic, purchasing of food products with refrigerated snacks are increasing mainly through the online platform, which is going to put a positive impact upon the studied market  

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North America Refrigerated Snacks Market Segmentation        

North America Refrigerated Snacks Market – By Type

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

North America Refrigerated Snacks Market – By Distribution Channel

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

North America Refrigerated Snacks Market – By Country

  • US
  • Canada 
  • Mexico      

North America Refrigerated Snacks Market -Companies Mentioned

  • Conagra Brands, Inc.
  • Danone S.A.
  • General Mills Inc.
  • Hormel Foods Corporation
  • Mars Incorporated
  • Mondelez International, Inc.
  • Nestle S.A
  • OHi Bars
  • PepsiCo
  • The Kraft Heinz Company
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type and Distribution Channel

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada

  1. Conagra Brands, Inc.
  2. Danone S.A.
  3. General Mills Inc.
  4. Hormel Foods Corporation
  5. Mars Incorporated
  6. Mondelez International, Inc.
  7. Nestle S.A
  8. OHi Bars
  9. PepsiCo
  10. The Kraft Heinz Company

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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