Microwavable Foods Market
Microwavable Foods Market was valued US$ 104.5 Bn in 2017 and is expected to reach US$ 155.7 Bn by 2026, at CAGR of 5.07% during forecast period.
Global Microwavable Foods Market
The factors like growing disposable income, the rise in the standard of living, a growing number of large retail and fast food chains, rising urban population, an increase in the number of working women in the corporate industries are driving the global microwavable foods market. Food packaging is very important which ensures that the food remains fresh for cooking, even after a few days. Furthermore, busy life schedule and odd work timings of corporate work culture in the metropolitan cities have stipulated the people to choose for ready-to-eat foods. Microwavable foods can help them to fulfil their demand for good and healthy food along with ease of preparation.
Developing countries like India and China, have led to a high demand for microwavable food. An increase in disposable income and a rise in the standard of living have led to changes in the dietary preferences of consumers in these regions during the forecast period. This, in turn, has led to increasing demand for shelf stable, chilled, and frozen food, drive the growth of the microwavable foods market. The rapid increase in the number of large retail chains, including hypermarkets and supermarkets, fuels the demand for microwavable foods. Additionally, continuous innovation and development in the packaging of microwavable food items attract the customer and hence drives the overall growth of the market. At the same time, consumers’ negative perceptions related to nutritional content in microwavable foods may hamper market growth. Advancements in freezing technologies and the presence of a large number of fast food outlets in emerging economies are expected to provide lucrative opportunities for the market players.
The global microwavable foods market is classified based on the product, packaging technology, and geography. Based on the product, the microwavable foods market is divided into shelf-stable microwavable food, frozen food, and chilled food. The frozen food segment dominates the global microwavable foods market because of the growing demand from the consumers. The consumers always prefer healthier, easy to cook and easy to digest the meal, which is satisfied with frozen microwavable foods. Freezing the food can be helpful in order to keep its essential nutrients.
Based on region, North America and Europe is expected to hold the largest share of the market in global microwavable foods market during the forecast period, the large share can be attributed to well-established retail food chain infrastructure, rising disposable income and a growing number of people working and living in metro cities. However, the Asia-Pacific region is expected to grow at the highest CAGR in the microwavable foods market. The rising population in metro cities and rising disposable income are some of the major factors driving the Asia-Pacific microwavable foods market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the Microwavable Foods Market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Microwavable Foods Market.
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Scope of Global Microwavable Foods Market:
Global Microwavable Foods Market, By Product:
- Shelf Stable Microwavable Food
- Chilled Food
- Frozen Food
Global Microwavable Foods Market, By Packaging Technology:
- Patterned Susceptors Technology
- New Tray-lidding Methods
- New Cook Bag Technique
Global Microwavable Foods Market, By Region:
- North America
- Central & South America
- Middle East & Africa
Key Players Operated in Market Include:
- Campbell Soup Company
- Beech-Nut Nutrition Corporation
- Kellogg Company
- ConAgra Foods Inc.
- Kraft Foods Inc.
- McCain Foods
- Pinnacle Foods Group LLC
- Bellisio Foods Inc.
- General Mills Inc.
- Nestle SA.
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