Global Convenience Food Market Report and Forecast 2024-2032

Global Convenience Food Market Size

The global convenience food market reached a value of approximately USD 485.12 billion in 2023. The market is further expected to grow at a CAGR of 6.1% between 2024 and 2032, reaching a value of USD 828.86 billion by 2032.

Key Trends in the Market

Convenience foods refer to any and all food products that are quick, easy, and convenient to prepare, by helping save preparation, cooking, and clean-up time. The convenience foods can be available in ready to cook format or ready to eat format, to suit the preferences of consumers. Convenience food products often have a long shelf life, are easy to store, and portable making them ideal for people with hectic work schedules.

• The key convenience food market trends include changing lifestyles and availability of a variety of convenience food options for inexperienced cooks. A significant number of individuals do not know how to cook, and convenience foods offer solutions to such individuals as they require minimal to no cooking knowledge and are also affordable.

• Easy availability of convenience food products is another crucial trend fuelling the convenience food market growth. An increasing number of stores and supermarkets have started storing such food products, this coupled with emergence of various online stores focusing on convenience food products have led to their increased consumption, boosting the growth of the convenient food market across the globe.

• Growing popularity of instant breakfast foods and ready to eat cereals along with frozen snack options is further bolstering the growth of the market for convenience food products. Increased focus of key market players on convenience food market research in order to develop novel food products is further contributing towards the growth of the market.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Analysis

On the basis of product, the market is segmented into meat, fish and poultry products, cereal based products, and vegetable based products, among others. Based on type, the market is divided into raw food, canned food, frozen food, ready to cook, and ready to eat, among others. On the basis of distribution channels, the market is segregated into supermarkets and hypermarkets, convenience stores, and speciality stores, among others. Based on regions, the market is classified into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global convenience food market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Nestlé SA

• Associated British Foods plc

• The Kraft Heinz Company

• McCain Foods Ltd

• WH Group Limited.

• MTR Foods Pvt Ltd.

• Ajinomoto Co., Inc.

• Conagra Brands, Inc.

• Lantmännen ek för

• Grupo Bimbo

• JBS

• Others

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Share by Type

Over the forecast period, frozen foods are expected to account for a significant portion of the convenience food industry share as knowledge about improved quality parameters established for frozen food products increases. Numerous frozen food products are extremely healthy as well as nutritious, and their freshness can be immediately unlocked after defrosting them. The hassle free, easy, and quick nature of frozen foods has made them increasingly popular among growing populations as well as businesses such as restaurants and hotels, among others. This is due to the fact that frozen food items significantly reduce the cooking time of many dishes as the ingredients are already cut, chopped, and peeled. The increasing use of ovens and air fryers that can cook frozen foods directly are further bolstering the appeal and sales of frozen foods.

Market Share by Region

In regional terms, the convenience food market Europe is expected to witness significant growth due to evolving economic and social patterns. Changing eating habits and meal patterns are expected to have a positive impact on the convenience food market UK. Easy availability of a wide range of frozen food products in the local supermarkets and stores, among others, is expected to bolster the convenience food market France. Rising spending capacities due increase in number of two-income households has resulted in growing expenditure on food products, this factor is further expected to fuel the growth of the market in Europe region. Increasing promotions of convenient foods are further enhancing their desirability and sales throughout Europe.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Competitive Landscape

Nestlé SA is headquartered in Vaud, Switzerland, and was founded in 1905. It is one of the largest drink and food processing companies in the world. Their products include but are not limited to, breakfast cereals, chocolates, spreads, dairy products, snacks, bottled waters, teas, coffees, ice creams, confectionary, and pet foods.

Associated British Foods plc is headquartered in London, United Kingdom, and was established in 1935. They are a multinational retailing and food processing organisation that is one of the largest producers of baker’s yeast and sugar, across the globe. Other significant products offered by Associated British Foods plc include emulsifiers, lactose, and enzymes, among others.

The Kraft Heinz Company is headquartered in Illinois in the United States and was founded in 2015. The company was birthed after the merger of major multinational food companies H.J. Heinz Company and Kraft Foods. The products and services offered by the company include convenience foods, beverages, snacks, and foodservice, among others.

Other market players include McCain Foods Ltd, WH Group Limited., MTR Foods Pvt Ltd., Ajinomoto Co., Inc., Conagra Brands, Inc., Lantmännen ek för, Grupo Bimbo, and JBS, among others.

Key Highlights of the Report