The global microwavable foods market was valued at $100,098 million in 2016, and is projected to reach $136,305 million by 2023, registering a CAGR of 4.4% from 2017 to 2023. Microwavable food is defined as a prepackaged meal or food product that requires minimal preparation for cooking. Shelf stable microwavable food, chilled food, and frozen food are categorized under products that can be prepared in a microwave. Microwaves cause water, fat, and sugar molecules to vibrate 2.5 million times per second, producing heat that cooks the food. Foods that can be safely stored at room temperature or “on the shelf” are called shelf stable microwavable foods. These foods are pretreated by heat or dried to destroy food-borne microorganisms. Microwavable chilled food is stored at refrigeration temperatures, i.e., at or below 0 to -5°C. Chilled food products have high quality and are microbiologically safe at the point of consumption, although they have a low shelf life. Microwavable frozen food is preferred over microwavable chilled food, as it can be stored for longer periods and can be prepared in less time. Freezing maintains the nutritional value of the food items and also increases their shelf life. Microwavable frozen products do not require any added preservatives because microorganisms are unable to grow when the temperature of the food is below -9.5°C.
Emerging economies, such as India and China, have led to high demand for microwavable food. Increase in disposable income and rise in standard of living have led to changes in the dietary preferences of consumers. Increase in participation of women in labor force has increased the dependency on readymade and convenience food. This in turn has led to surge in demand for shelf stable, chilled, and frozen food, fueling the growth of microwavable foods market. Rapid increase in number of large retail chains, including hypermarkets and supermarkets, fuels the demand for microwavable foods. Moreover, continuous innovation and development in the packaging of microwavable food items attracts the customer, and hence drives the overall growth of the market. However, consumers' negative perception related to nutritional content in microwavable foods may restrain the market growth. Advancements in freezing technologies and presence of 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 segmented based on product, packaging technology, and geography. Based on product, the market is divided into shelf stable microwavable food, chilled food, and frozen food. On the basis of packaging technology, it is categorized into patterned susceptors technology, new tray-lidding methods, and new cook bag technique. Based on geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Following are the major players profiled in this study:
Ajinomoto Windsor, Inc.
Campbell Soup Company.
ConAgra Foods, Inc.
General Mills Inc.
Kellogg Company
McCain Foods
Nestle SA
Pinnacle Food Inc.
The Kraft Heinz Company
Unilever Plc
KEY BENEFITS FOR STAKEHOLDERS
The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global microwavable foods market to elucidate the prevailing opportunities and tap the investment pockets.
It offers qualitative and quantitative analysis of the global market from 2016 to 2023 to assist stakeholders to understand the market scenario.
In-depth analysis of the key segments demonstrates various products and packaging technology used for various microwavable foods.
Competitive intelligence of the industry highlights the business practices followed by key players across geographies.
Key players are profiled to understand the competitive outlook of the market.
KEY MARKET SEGMENTS
By Product
Shelf Stable Microwavable Food
Chilled Food
Frozen Food
By Packaging Technology
Patterned Susceptors Technology
New Tray-lidding Methods
New Cook Bag Technique
By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Russia
Rest of Europe
Asia-Pacific
China
India
South Korea
Japan
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
UAE
South Africa
Turkey
Rest of LAMEA
KEY PLAYERS
Bellisio Foods Inc.
Hormel Foods Corporation
Gunnar Dafgård AB
Frosta AG
Freiberger Lebensmittel GmbH & Co KG
Cargill Incorporated
Tyson Foods
Emerging economies, such as India and China, have led to high demand for microwavable food. Increase in disposable income and rise in standard of living have led to changes in the dietary preferences of consumers. Increase in participation of women in labor force has increased the dependency on readymade and convenience food. This in turn has led to surge in demand for shelf stable, chilled, and frozen food, fueling the growth of microwavable foods market. Rapid increase in number of large retail chains, including hypermarkets and supermarkets, fuels the demand for microwavable foods. Moreover, continuous innovation and development in the packaging of microwavable food items attracts the customer, and hence drives the overall growth of the market. However, consumers' negative perception related to nutritional content in microwavable foods may restrain the market growth. Advancements in freezing technologies and presence of 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 segmented based on product, packaging technology, and geography. Based on product, the market is divided into shelf stable microwavable food, chilled food, and frozen food. On the basis of packaging technology, it is categorized into patterned susceptors technology, new tray-lidding methods, and new cook bag technique. Based on geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Following are the major players profiled in this study:
Ajinomoto Windsor, Inc.
Campbell Soup Company.
ConAgra Foods, Inc.
General Mills Inc.
Kellogg Company
McCain Foods
Nestle SA
Pinnacle Food Inc.
The Kraft Heinz Company
Unilever Plc
KEY BENEFITS FOR STAKEHOLDERS
The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global microwavable foods market to elucidate the prevailing opportunities and tap the investment pockets.
It offers qualitative and quantitative analysis of the global market from 2016 to 2023 to assist stakeholders to understand the market scenario.
In-depth analysis of the key segments demonstrates various products and packaging technology used for various microwavable foods.
Competitive intelligence of the industry highlights the business practices followed by key players across geographies.
Key players are profiled to understand the competitive outlook of the market.
KEY MARKET SEGMENTS
By Product
Shelf Stable Microwavable Food
Chilled Food
Frozen Food
By Packaging Technology
Patterned Susceptors Technology
New Tray-lidding Methods
New Cook Bag Technique
By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Russia
Rest of Europe
Asia-Pacific
China
India
South Korea
Japan
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
UAE
South Africa
Turkey
Rest of LAMEA
KEY PLAYERS
Bellisio Foods Inc.
Hormel Foods Corporation
Gunnar Dafgård AB
Frosta AG
Freiberger Lebensmittel GmbH & Co KG
Cargill Incorporated
Tyson Foods
Frequently Asked Questions about the Global Microwavable Foods Market
What is the estimated value of the Global Microwavable Foods Market?
What is the growth rate of the Global Microwavable Foods Market?
What is the forecasted size of the Global Microwavable Foods Market?
Note: Product cover images may vary from those shown
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MICROWAVABLE FOODS MARKET, BY PRODUCT
CHAPTER 5: MICROWAVABLE FOODS MARKET, BY PACKAGING TECHNOLOGY
CHAPTER 6: MICROWAVABLE FOODS MARKET, BY GEOGRAPHY
CHAPTER 7: COMPANY PROFILES
Note: Product cover images may vary from those shown
According to a new report titled, Microwavable Foods Market by Product and Packaging Technology: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global microwavable foods market was valued at $100,098 million in 2016, and is projected to reach $136,305 million by 2023, registering a CAGR of 4.4% from 2017 to 2023. In 2016, the frozen food segment accounted for approximately four-fifths share of the global market, in terms of value.
Microwavable foods are convenience food that require minimal preparation time and are cooked using the conventional microwave oven. A microwave oven reduces the preparation time of food, thus enabling cooking to be simpler and less time consuming.
Increased participation of women in workforce and changes in family dynamics have increased the dependency on readymade microwavable foods. Other factors such as increased disposable income, rise in standard of living, and rapid increase in number of large retail chains supplement the growth of the market.
In 2016, the frozen food segment accounted for the highest market share in the global microwavable foods market, as they can be stored and used over a long period of time. Freezing helps retain the essential nutrients in the food products, which are essential to synthesize various vitamins and minerals in the body. In addition, to avoid food wastage and maintain competitiveness and profitability among food businesses, preservation of food by freezing is adopted by various food manufacturers, thus driving the market growth. On the other hand, shelf stable, chilled, and frozen microwavable foods have been perceived as less nutritious compared to fresh foods; this notion among consumers is projected to hamper the market growth.
Growth in R&D activities by various microwavable food manufacturers for advancement in freezing technology and increase in establishment of multiple fast food outlets in emerging economies are expected to provide lucrative opportunities for the market players.
Key findings of the Microwavable Foods Market:
Asia-Pacific is expected to grow at the highest CAGR of 6.4% from 2017 to 2023, followed by LAMEA, in terms of value.
In 2016, the patterned susceptors technology segment accounted for approximately two-thirds share, in terms of value, and is expected to grow at the highest CAGR of 4.9%.
In 2016, Europe generated the highest revenue, and is expected to grow at a CAGR of 3.7%.
In 2016, U.S. generated the highest revenue, accounting for more than two-sevenths share in the global market.
In terms of value, Asia-Pacific and LAMEA collectively contributed more than one fifth share in the global market in 2016. Growth in population, rise in disposable income, and increase in number of retail chains in China, India, and Brazil are expected to drive the growth in these regions.
The key players operating in the global microwavable foods market are McCain Foods, The Kraft Heinz Company, Pinnacle Food Inc., Nestle SA, Kellogg Company, Ajinomoto Windsor, Inc., General Mills Inc., ConAgra Foods, Inc., Unilever Plc, and Campbell Soup Company.
Microwavable foods are convenience food that require minimal preparation time and are cooked using the conventional microwave oven. A microwave oven reduces the preparation time of food, thus enabling cooking to be simpler and less time consuming.
Increased participation of women in workforce and changes in family dynamics have increased the dependency on readymade microwavable foods. Other factors such as increased disposable income, rise in standard of living, and rapid increase in number of large retail chains supplement the growth of the market.
In 2016, the frozen food segment accounted for the highest market share in the global microwavable foods market, as they can be stored and used over a long period of time. Freezing helps retain the essential nutrients in the food products, which are essential to synthesize various vitamins and minerals in the body. In addition, to avoid food wastage and maintain competitiveness and profitability among food businesses, preservation of food by freezing is adopted by various food manufacturers, thus driving the market growth. On the other hand, shelf stable, chilled, and frozen microwavable foods have been perceived as less nutritious compared to fresh foods; this notion among consumers is projected to hamper the market growth.
Growth in R&D activities by various microwavable food manufacturers for advancement in freezing technology and increase in establishment of multiple fast food outlets in emerging economies are expected to provide lucrative opportunities for the market players.
Key findings of the Microwavable Foods Market:
Asia-Pacific is expected to grow at the highest CAGR of 6.4% from 2017 to 2023, followed by LAMEA, in terms of value.
In 2016, the patterned susceptors technology segment accounted for approximately two-thirds share, in terms of value, and is expected to grow at the highest CAGR of 4.9%.
In 2016, Europe generated the highest revenue, and is expected to grow at a CAGR of 3.7%.
In 2016, U.S. generated the highest revenue, accounting for more than two-sevenths share in the global market.
In terms of value, Asia-Pacific and LAMEA collectively contributed more than one fifth share in the global market in 2016. Growth in population, rise in disposable income, and increase in number of retail chains in China, India, and Brazil are expected to drive the growth in these regions.
The key players operating in the global microwavable foods market are McCain Foods, The Kraft Heinz Company, Pinnacle Food Inc., Nestle SA, Kellogg Company, Ajinomoto Windsor, Inc., General Mills Inc., ConAgra Foods, Inc., Unilever Plc, and Campbell Soup Company.
Note: Product cover images may vary from those shown
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
