Global Convenience Foods Market is anticipated to witness an exponential growth in the forecast period. Convenience food, also known as “Tertiary Processed Food”, is commercially prepared and frequently through processing to improve ease of consumption. Such food is typically prepared to eat without further preparation.
The factors that propel the growth of the convenience foods market include busy lifestyles and ageing population, technological innovation, rising disposable income, increasing demand for freshly prepared food, emerging economies, changing eating habitat, high demand of packaged ready-to-eat snacks such as bakery products, potato fries and meat products, and rapid development of the foodservice industry.
On the other hand, there are factors that may hamper the growth of the market including lack of appropriate storage and logistics is a threat to the chilled and frozen category of convenience foods in emerging countries, and strict rules and regulations on manufacturing and labelling of convenience foods in both emerging and established nations. Convenience food market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
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Market could be explored by type, product type, distribution channel and geography. Market could be explored by type as frozen foods, canned foods, ready-to-eat snacks, chilled foods, meals, and others.
Based on product type, the market could span candy; beverages (juices, soft drinks and milk; fruits and vegetables, nuts, in preserved or fresh states); processed meats and cheeses; and canned products (pasta dishes and soups), chips, pizza, cookies and pretzels. The market could be explored based on distribution channel as convenience stores, supermarkets and hypermarkets, mom-and-pop shops, departmental stores and others.
North America accounted for the major share of the convenience foods industry in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include declining trend towards at-home cooking and away-from-home dining and increasing demand for ready-to-eat meals/meal solutions that can be prepared in two-step cooking. North America is followed by Asia-Pacific region. Some of the key players that fuel the growth of the convenience foods market comprise Cargill, Amy’s Kitchen, Inc., Incorporated, General Mills, Inc., ConAgra Foods, Inc., Tyson Foods, Inc., Kraft Foods Group Inc, and Mondelz International, Inc.
ConAgra Foods launched 23 new varieties of quality desserts and meals in P.F. Chang’s and Bertolli brands to improve consumers’ at-home dining experience with suitability. Furthermore, consumers are looking for meals with foraged, hyper-local constituents with different flavors and blends such as nettles, mushrooms, blackberries, rose hips, truffles, seaweeds, etc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Convenience Foods in these regions, from 2012 to 2023 (forecast), covering
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Columbia)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Global Convenience Foods market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
• Amy’s Kitchen
• ConAgra Foods
• General Mills
• Tyson Foods
• Mondelez International
• Kraft Foods Group
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
• Type I
• Type II
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Convenience Foods for each application, including
• Application 1
• Application 2
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/food-and-beverage
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