Global Microwavable Foods Market Report and Forecast 2024-2032

Global Microwavable Foods Market Outlook

The global microwavable foods market is expected to grow at a CAGR of 4.8% in the forecast period of 2024-2032.

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North America Region to Support the Growth of the Global Market for Microwavable Foods, Owing to Innovations in the Food Intake Solutions

The global market for microwavable foods is being significantly supported by the North America market. This can be attributed to many factors, including the innovation in the food intake solutions, conventional snacking patterns, simpler and faster preparation process, and a rise in the intake of processed RTE food products. Further, Europe has exhibited remarkable growth in the recent years in terms of production and consumption of microwavable food owing to individuals' hectic lifestyle and an increase in the number of working women. Within the region, Germany is an important contributor and is further followed, in terms of value, by the UK, Russia, and France. The Asia Pacific region is expected to witness a spurt in its growth curve as the demand for an enhanced standard of living is prompting a change in consumers’ food consumption behaviour.

Microwavable Foods: Market Segmentation

Microwavable foods are those foods that can be cooked using a conventional microwave oven in less time.

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On the basis of product type, the market is divided into:

• Chilled Food
• Frozen Food
• Shelf Stable

Based on packaging type, the industry can be segmented into:

• Trays
• Folding Cartons
• Cups, Tubs, and Bowls
• Bags and Pouches
• Sleeves
• Others

By distribution channel, the industry is segregated into:

• Hypermarkets and Supermarkets
• Convenience Stores
• Online
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Demand for Convenience Foods to Aid the Market Growth of Microwavable Foods

The market for microwavable foods is being driven by the rising population in urban areas, which is expected to promote the demand and growth for convenience foods. In addition, factors like the rising nuclear families, a rise in the standard of living, growth in the number of women in the workforce, and a rapid increase in the number of large retail chains are furthering the growth of the microwavable foods industry. Further, the rising R&D activities undertaken by many microwavable food companies for the advancements in freezing technology and increasing set up of fast-food chains in rising economies are expected to enhance the prospects for industry players in the forecast period.

Key Industry Players in the Global Microwavable Foods Market

The report gives a detailed analysis of the following key players in the global microwavable foods market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• McCain Foods
• Nestlé SA
• Kellogg Company
• Ajinomoto Windsor, Inc.
• General Mills Inc.
• Others

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.

Key Highlights of the Report