South & Central America Refrigerated Snacks Market Analysis, Size, and Share by 2028

The refrigerated snacks market in SAM is expected to grow from US$ 4,587.14 million in 2021 to US$ 6,270.32 million by 2028; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028.

The Brazil and Argentina are major economies in SAM. New product launches are the major factor driving the growth of the SAM refrigerated snacks market. The rise in popularity of refrigerated snacks has motivated the manufacturers to boost the production volume and undertake investment in research and development and new product development of refrigerated snacks with an exotic taste that could suit consumer needs. The rise in industrial field expenditures and increasingly intense competition, and the growing adoption of refrigerated snacks as snacking ingredients have driven the demand for new product launches. Besides, the key players in the market are launching new products with a unique combination of organic or natural ingredients, which is quite different from traditional refrigerated snacks. Manufacturers are experimenting with several elements, texture, flavor, and nutritional ingredients. For instance, in September 2020, Hormel Foods introduced Hormel Black Label Egg Bites and Breakfast Combos. This will further enhance the company’s product portfolio and thereby strengthen its sales in the coming years. Also, in February 2020, KIND launched KIND Nut Butter Bar, its first-ever refrigerated, smooth, and creamy nut butter protein bar. It has three different varieties, including creamy peanut butter, chocolate peanut butter, and honey almond butter. The key manufacturers also have been financing this opportunity by packaging their products more conveniently to make them easier to consume on the go and increase shelf life. The factors such as flexible products matching consumer needs, innovative concepts, and busy lifestyles are anticipated to benefit market growth, which is further anticipated to drive the market in SAM.

Brazil stated the highest number of COVID-19 cases in South America, followed by Ecuador, Chile, Peru, and Argentina, among others. Governments of these countries have taken an array of actions to protect their citizens and contain COVID-19 spread. Nevertheless, the region is experiencing lower export revenues, both from the drop in commodity prices and reduction in export volumes, primarily due to lowered export performance in China, Europe, and the US. In addition, containment measures in several South American countries have reduced economic activity in the food and beverage industry; however, the industry is likely to rebound once the country manages to control the epidemic

SAM Refrigerated Snacks Market Segmentation   

SAM Refrigerated Snacks Market – By Type

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

SAM Refrigerated Snacks Market – By Distribution Channel

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

SAM Refrigerated Snacks Market – By Country

• Brazil
• Argentina
• Rest of SAM

SAM Refrigerated Snacks Market -Companies Mentioned

• Danone S.A.
• General Mills Inc.
• Hormel Foods Corporation
• Mars Incorporated
• Mondelez International, Inc.
• Nestle S.A
• PepsiCo
• The Kraft Heinz Company  

South & Central America Refrigerated Snacks Report Scope