Data Bridge Market Research analyses that the microwavable foods market was growing at a value of USD 102.60 billion in 2021 and is expected to reach a value of USD 140.67 billion and registering a CAGR of 4.1% from 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Microwavable Foods Market Dynamics
Drivers
Rising urbanization and growing trend of convenience food around the world
As they require less time and effort to prepare than cooking from scratch, the growing consumer preference for convenience foods indirectly benefits the growing demand for microwavable foods. Consumers' hectic lifestyles have increased demand for processed foods. As a result, there is an increase in demand for microwavable goods. Increased disposable income has a significant impact on the growth of the microwavable food market because it increases consumer purchasing power.
Expansions of convenience stores as well growing working class population
Food supply chain companies' sales of microwaveable foods continue to contribute significantly to revenue. Additional revenue share is expected soon as convenience stores expand their selection of microwavable ready meals and internet sales enter previously untapped market opportunities.
Opportunities
The unexpected breakdown of COVID-19 around the world has significantly increased demand for microwavable foods, which have the advantage of retaining nutrition for a longer period of time and having a longer shelf life than other fresh fruits, vegetables, and meat, which are also expected to fuel market growth. Furthermore, rising retail digitalization and rapidly rising processed food trade will create new opportunities for the microwavable foods market during the forecast period.
Restraints
However, the growing preference for fresh and natural food products, as well as the growing need for constant temperature monitoring, are expected to slow the growth rate of the microwavable foods market, while a lack of cold chain infrastructure in developing economies will pose a market challenge for microwavable foods during the forecast period.
Global Microwavable Foods Market Scope
The microwavable foods market is segmented on the basis of product type, packing technology and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
Shelf Stable Microwavable Food
Chilled Food
Microwavable Food
Distribution Channel
Supermarkets and Hypermarkets
Convenience Stores
Online Channels
Others
Packing Technology
Patterned Susceptors Technology
New Tray-lidding Methods
New Cook Bag Technique
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Microwavable Foods Market Regional Analysis/Insights
The microwavable foods market is analysed and market size insights and trends are provided by country product type, packing technology and distribution channel as referenced above.
The countries covered in the microwavable foods market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Competitive Landscape and Microwavable Foods Market Share Analysis
The microwavable foods market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to microwavable foods market.
Some of the major players operating in the microwavable foods market are:
The Hain Celestial Company (U.S.)
AGRARFROST GMBH & CO. KG (Germany)
Agristo (Belgium)
Bart's Potato Company bvba (Belgium)
Royal Cosun (Netherlands)
Farm Frites (Netherlands)
Greenyard (Belgium)
Himalaya Food International Ltd. (India)
J.R. Simplot Company (U.S.)
McCain Foods Ltd. (U.K.)
Lamb Weston Holdings, Inc. (U.K.)
General Mills, Inc. (U.S.)
Mondelēz International, Inc. (U.S.)
THE KRAFT HEINZ COMPANY (U.S.)
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MAJOR TOC OF THE REPORT: -
- Chapter One: Introduction
- Chapter Two: Market Analysis and Insights
- Chapter Three: Market Dynamics
- Chapter Four: Market Scope
- Chapter Five: Market Regional Insights
- Chapter Six: Competitive Landscape System Market
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