Microwavable Foods Market - Global Industry Analysis

Microwavable Foods Market By Product (Shelf Stable Microwavable Food, Chilled Food, and Frozen Food), By Packaging Technology (Patterned Susceptors Technology, New Tray-lidding Methods, and New Cook Bag Technique), By Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, and Online Sales Channel), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Published Date: 30-Mar-2022 Category: Food & Beverage Report Format : PDF Pages: 160 Report Code: ZMR-92 Status : Published

The global microwavable foods market was valued at $150 million in 2021 and is likely to attain a value of $210 million by the end of 2028. The market is likely to expand with a compound rate of 5.7% during the forecast period.

Description

Global Microwavable Foods Market Industry Perspective:

The global microwavable foods market was valued at $150 million in 2021 and is likely to attain a value of $210 million by the end of 2028. The market is likely to expand with a compound rate of 5.7% during the forecast period. The report is focused on the growth drivers, restraints, challenges, and opportunities in the global market. It also emphasizes the geographical and competitive market landscape in the global market.

Global Microwavable Foods Market: Overview

Microwave food can be cooked with the help of a microwave, and it requires minimal preparation time. It includes frozen & chilled meals, shelf-stable soups, and others. These foods hold nutritional benefits as they do not need fat or oil for cooking.

COVID-19 Impact:

The Covid-19 crisis has an overall positive impact on the growth trajectory of the global microwavable foods market. The production and sales of companies in the microwavable food market were significantly scaled up in 2020 due to the outbreak of the coronavirus pandemic. However, the low footfall in retail and grocery stores encouraged consumers to purchase microwavable foods like frozen ones due to the food shortages during the pandemic.

Microwavable Foods Market: Growth Drivers

The fast-paced lifestyle of people is a major growth factor in the global market.

The hectic and busy lifestyle of people all around the globe induces them to opt for convenient solutions like microwavable foods, which require less time to cook, which is one of the primary factors driving the growth of the global microwavable foods market. The growing popularity of fast food restaurant chains like quick-service restaurants (QSR) is another reason complementing the growth of the global market. Emerging economies like Brazil, India, and China are likely to increase the market volume to manifolds due to the growing population base along with a number of QSR Giants like Dunkin Donuts, Subway, Wendy's, Burger King, McDonald's, etc.

The growing disposable income of people all across the globe, along with the rising living standard, is likely to propel the demand for microwavable foods. The high rate of urbanization is leading to the higher consumption rate of microwavable foods globally. Food producers are increasing the research and development activities for the progression of freezing technology.

However, the growing set-up rate of multiple fast food outlets is likely to offer lucrative growth opportunities to the global market players in the forthcoming years. The high demand for tasteful food triggers the requirement for ready-to-eat food products. These microwavable food products facilitate delicious food in less time. Frozen microwave food is widely preferred by consumers all around the globe due to its nutritional benefits and delicious taste. However, with the growing health consciousness among consumers, they are looking for healthier meals that take less time to cook and are full of vitamins, minerals, and other essential nutrients. Therefore, the manufacturers are emphasizing freezing aids which help in retaining the essential nutrients in the products.

Microwavable Foods Market: Restraints

General perception of consumers toward microwavable food is likely to restrain market growth.

There is a common view of consumers towards the chilled, frozen microwavable food items that they lack nutritional value due to the long manufacturing and freezing process. Such food items are also viewed as an inferior alternative to fresh foods. Therefore, this perception is likely to restrain the growth of the global market.

Global Microwavable Foods Market

Microwavable Foods Market: Opportunities

Growing number of nuclear families is likely to open new avenues in the global market.

The increasing number of nuclear families all around the globe is likely to create lucrative growth opportunities in the global market in the forthcoming years. The growth of nuclear families will proportionally increase the demand for microwavable food in the market, which in turn will expand the consumer base for the global market. However, the growing working women population will further support the market scenario. Therefore, such market dynamics are likely to open new avenues in the global market.

Microwavable Foods Market: Challenges

Lack of skilled professionals in freezing technology is a huge challenge in the global market.

Such soaring demand for microwavable foods is accentuating the requirement for skilled professionals, particularly in freezing technology. But the lack of specialists is a major challenge in the global market.

Microwavable Foods Market: Segmentation

The global microwavable foods market can be segmented into product, packaging technology, distribution channel, and region.

By product, the market can be segmented into frozen, chilled, and shelf-stable microwavable foods.

By packaging technology, the market can be segmented into new cook bag techniques, new tray lidding methods, and patterned susceptors technology.

By distribution channel, the market can be segmented into online stores, supermarkets, and others.

Report Scope:

 

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Recent Developments

  • Rich Products Corporation, in April 2020, introduced 'Time Outs', microwavable single-serve snacks. The frozen product portfolio includes snacks, appetizers, and meals prepared with plant-based meat and ingredients.
  • Starkist, in April 2020, introduced microwavable tuna with grains and vegetables that taste delicious and is consumed at room temperature for lunch, dinner, or healthy snack.

Microwavable Foods Market: Regional Landscape

North America to hold the largest share in the global market.

North America swipes the largest share in the global microwavable foods market due to the high demand for innovative food solutions and simpler preparation processes in the region. The rise in the trend of processed RTE food products will further contribute to the growth of the regional market in the forthcoming years. Additionally, due to the secured leadership of the region in the food and beverage sector, several startups and big organizations are investing in setting up restaurants in the region, which in turn will positively influence the growth of the regional market in the forthcoming years.

Europe is likely to showcase exponential growth in the consumption and production of microwavable food in the forthcoming years due to the growing working women population in the region. Furthermore, the rise in fast pace hectic lifestyle of people is likely to further propel the growth of the regional market.

Microwavable Foods Market: Competitive Landscape

Some of the significant players in the global microwavable foods market include Pinnacle Foods Group LLC, Bellisio Foods Inc., Beech-Nut Nutrition Corporation, Campbell Soup Company, Unilever Plc, ConAgra Foods, Inc., General Mills Inc., Ajinomoto Windsor, Inc., Kellogg Company, Nestle SA, Pinnacle Food Inc., The Kraft Heinz Company, and McCain Foods.

Global Microwavable Foods Market is segmented as follows:

Global Microwavable Foods Market 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 Distribution Channel

  • Hypermarkets/Supermarkets
  • Convenience Stores
  • Online Sales Channel

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global Microwavable Foods market, 2015 - 2024(USD Million)
    • 2.2. Global Microwavable Foods market : Snapshot
  •  
  • Chapter 3. Microwavable Foods - Market Dynamics
    • 3.1. Introduction
    • 3.2. Market drivers
      • 3.2.1. Global Microwavable Foods market drivers: Impact analysis
      • 3.2.2. Rising preference for junk foods
    • 3.3. Market Restraints
      • 3.3.1. Global Microwavable Foods market restraints: Impact analysis
      • 3.3.2. Growing concern over less nutritious food
    • 3.4. Opportunities
      • 3.4.1. New technologies and innovation of Microwavable Foods
    • 3.5. Porter's five forces analysis
      • 3.5.1. Bargaining power of suppliers
      • 3.5.2. Bargaining power of buyers
      • 3.5.3. Threat from new entrants
      • 3.5.4. Threat from new substitutes
      • 3.5.5. Degree of competition
    • 3.6. Market attractiveness analysis
      • 3.6.1. Market attractiveness analysis, by type segment
      • 3.6.2. Market attractiveness analysis, by regional segment
  •  
  • Chapter 4. Global Microwavable Foods Market - Competitive Landscape
    • 4.1. Company market share, 2017 (Subject To Data Availability)
      • 4.1.1. Global Microwavable Foods market: company market share, 2017
    • 4.2. Strategic Development
      • 4.2.1. Acquisitions & Mergers
      • 4.2.2. New End-Use Launch
      • 4.2.3. Agreements, Partnerships, Collaborations and Joint Ventures
      • 4.2.4. Research and Development, End Use and Regional Expansion
    • 4.3. End-Use Portfolio
  •  
  • Chapter 5. Global Microwavable Foods Market - Type Analysis
    • 5.1. Global Microwavable Foods market: Type overview
      • 5.1.1. Global Microwavable Foods market revenue share, by Type, 2017 - 2024
    • 5.2. Chilled Microwavable Food
      • 5.2.1. Global Microwavable Foods market for Chilled Microwavable Food, 2015 - 2024(USD Million)
    • 5.3. Shelf Stable Microwavable Foods
      • 5.3.1. Global Microwavable Foods market for Shelf Stable Microwavable Foods, 2015 - 2024(USD Million)
    • 5.4. Frozen Microwavable Foods
      • 5.4.1. Global Microwavable Foods market for Frozen Microwavable Foods, 2015 - 2024(USD Million)
  •  
  • Chapter 6. Global Microwavable Foods Market - Regional Segment Analysis
    • 6.1. Global Microwavable Foods market: Regional overview
      • 6.1.1. Global Microwavable Foods market revenue share, by region, 2017 - 2024
    • 6.2. North America
      • 6.2.1. North America Microwavable Foods market revenue, by Type, 2015 - 2024(USD Million)
      • 6.2.2. U.S.
        • 6.2.2.1. U.S. Microwavable Foods market revenue, by Type, 2015 - 2024(USD Million)
      • 6.2.3. Rest of North America
        • 6.2.3.1. Rest of North America Microwavable Foods market revenue, by Type, 2015 - 2024(USD Million)
    • 6.3. Europe
      • 6.3.1. Europe Microwavable Foods market revenue, by Type, 2015 - 2024(USD Million)
      • 6.3.2. UK
        • 6.3.2.1. UK Microwavable Foods market revenue, by Type, 2015 - 2024(USD Million)
      • 6.3.3. France
        • 6.3.3.1. France Microwavable Foods market revenue, by Type, 2015 - 2024, (USD Million)
      • 6.3.4. Germany
        • 6.3.4.1. Germany Microwavable Foods market revenue, by Type, 2015 - 2024, (USD Million)
      • 6.3.5. Rest of Europe
        • 6.3.5.1. Rest of Europe Microwavable Foods market revenue, by Type, 2015 - 2024(USD Million)
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Microwavable Foods market revenue, by Type, 2015 - 2024, (USD Million)
      • 6.4.2. China
        • 6.4.2.1. China Microwavable Foods market revenue, by Type, 2015 - 2024(USD Million)
      • 6.4.3. Japan
        • 6.4.3.1. Japan Microwavable Foods market revenue, by Type, 2015 - 2024(USD Million)
      • 6.4.4. India
        • 6.4.4.1. India Microwavable Foods market revenue, by Type, 2015 - 2024(USD Million)
      • 6.4.5. Rest of Asia Pacific
        • 6.4.5.1. Rest of Asia Pacific Microwavable Foods market revenue, by Type, 2015 - 2024(USD Million)
    • 6.5. Latin America
      • 6.5.1. Latin America Microwavable Foods market revenue, by Type, 2015 - 2024(USD Million)
      • 6.5.2. Brazil
        • 6.5.2.1. Brazil Microwavable Foods market revenue, by Type, 2015 - 2024(USD Million)
      • 6.5.3. Rest of Latin America
        • 6.5.3.1. Rest of Latin America Microwavable Foods market revenue, by Type, 2015 - 2024(USD Million)
    • 6.6. Middle East and Africa
      • 6.6.1. Middle East and Africa Microwavable Foods market revenue, by Type, 2015 - 2024(USD Million)
  •  
  • Chapter 7. Company Profile
    • 7.1. Campbell Soup Company
      • 7.1.1. Overview
      • 7.1.2. Financials
      • 7.1.3. Type portfolio
      • 7.1.4. Business strategy
      • 7.1.5. Recent developments
    • 7.2. General Mills Inc.
      • 7.2.1. Overview
      • 7.2.2. Financials
      • 7.2.3. Type portfolio
      • 7.2.4. Business strategy
      • 7.2.5. Recent developments
    • 7.3. Beech-Nut Nutrition Corporation
      • 7.3.1. Overview
      • 7.3.2. Financials
      • 7.3.3. Type portfolio
      • 7.3.4. Business strategy
      • 7.3.5. Recent developments
    • 7.4. McCain Foods
      • 7.4.1. Overview
      • 7.4.2. Financials
      • 7.4.3. Type portfolio
      • 7.4.4. Business strategy
      • 7.4.5. Recent developments
    • 7.5. Others
      • 7.5.1. Overview
      • 7.5.2. Financials
      • 7.5.3. Type portfolio
      • 7.5.4. Business strategy
      • 7.5.5. Recent developments

Table Of Figures

List of Figures 

1. Market Research Process
2. Market Research Methodology
3. Global Microwavable Foods Market Revenue, 2015 - 2024(USD Million) 
4. Porter’s Five Forces Analysis
5. Microwavable Foods Market: Market Attractiveness Analysis, By Type Segment
6. Microwavable Foods Market: Market Attractiveness Analysis, By Regional Segment
7. Company Market Share Analysis, 2017
8. Global Microwavable Foods Market Revenue Share, By Type, 2017 - 2024
9. Global  Microwavable Foods Market For Chilled microwavable food, 2015 - 2024, (USD Million) 
10. Global Microwavable Foods Market For Shelf stable microwavable foods, 2015 - 2024, (USD Million) 
11. Global Microwavable Foods Market For Frozen microwavable foods, 2015 - 2024, (USD Million) 


Table Of Tables

List of Tables

1. Microwavable Foods Market: Market Snapshot                                                                                                                        
2. Drivers Of Global Microwavable Foods Market: Impact Analysis 
3. Restraints Of Global Microwavable Foods Market: Impact Analysis  
4. North America Microwavable Foods Market Revenue, By Type, 2015 - 2024(USD Million) 
5. U.S. Microwavable Foods Market Revenue, By Type, 2015 - 2024(USD Million) 
6. Rest Of North America Microwavable Foods Market Revenue, By Type, 2015 - 2024(USD Million) 
7. Europe Microwavable Foods Market Revenue, By Type, 2015 - 2024(USD Million) 
8. UK Microwavable Foods Market Revenue, By Type, 2015 - 2024(USD Million) 
9. France Microwavable Foods Market Revenue, By Type, 2015 - 2024(USD Million) 
10. Germany Microwavable Foods Market Revenue, By Type, 2015 - 2024(USD Million)
11. Rest Of The Europe Microwavable Foods Market Revenue, By Type, 2015 - 2024(USD Million) 
12. Asia Pacific Microwavable Foods Market Revenue, By Type, 2015 - 2024(USD Million) 
13. Asia Pacific Microwavable Foods Market Revenue, By End Use, 2015 - 2024(USD Million) 
14. China Microwavable Foods Market Revenue, By Type 2015 - 2024(USD Million) 
15. Japan Microwavable Foods Market Revenue, By Type, 2015 - 2024(USD Million)
16. India Microwavable Foods Market Revenue, By Type, 2015 - 2024(USD Million)
17. Rest Of Asia Pacific Microwavable Foods Market Revenue, By Type, 2015 - 2024(USD Million)
18. Latin America Microwavable Foods Market Revenue, By Type, 2015 - 2024(USD Million) 
19. Brazil Microwavable Foods Market Revenue, By Type, 2015 - 2024(USD Million)
20. Rest Of Latin America Microwavable Foods Market Revenue, By Type, 2015 - 2024(USD Million)
21. Middle East And Africa Microwavable Foods Market Revenue, By Type, 2015 - 2024(USD Million)

Methodology

Free Analysis

Microwavable foods are ready-to-eat packed food. Microwavable food is easily accessible and has better shelf-life. Various technologies, techniques, and preservatives are used in the production of packaged microwavable foods. Moreover, microwavable foods can be stored for a longer duration because it contains preservatives to maintain its taste, flavors, and quality. As of now, busy lifestyle, modernization, and attraction towards the fast foods have increased the manufacturing and retailing of the microwavable food items. Thus, these are some of the key factors driving the global microwavable foods market growth during the forecast period. 

The market for global microwavable foods is primarily driven by the rising preference for junk foods such as noodles, pasta, macaroni, and cheese among the population. Besides, the increase in the manufacturer of microwavable foods across the world and the increased demand for instant foods is projected to gain more share value during the forecast period. In addition to this, the rising number of supermarket, hypermarket, and specialty stores ultimately benefits the market of microwavable foods. However, chilled, shelf stable, and frozen microwavable foods have been recognized as a less nutritious food as compared to fresh or normal food; thus this conception among the consumers may hamper the global microwavable foods market within the forecast period. 

Global Microwavable Foods Market

The global microwavable foods market is segmented on the basis of type and region. Based on the type, the global microwavable foods market is fragmented into shelf-stable microwavable foods, chilled microwavable foods, and frozen microwavable foods. Among which, frozen microwavable foods hold a dominant position in the global market owing to the high consumption rate which depends on the overall economic growth, the evolution of the food culture, and change in lifestyle. These are key factors contributing to the overall market growth of the microwavable foods.

By geography, the global microwavable foods market finds its market scope in Europe, North America, Latin America, Asia Pacific, and the Middle East & Africa. North America and Europe are the fastest growing regions in the global microwavable foods market owing to the facts such as strong economic development, demand for packaged food, and busy lifestyle population. Following Europe, North America and the Asia Pacific are expected to attain more share value during the forecast period.

The report also includes detailed profiles of key players such as Beech-Nut Nutrition Corporation, Campbell Soup Company, Bellisio Foods Inc., Kellogg Company, ConAgra Foods Inc., Kraft Foods Inc., McCain Foods, Pinnacle Foods Group LLC.

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FrequentlyAsked Questions

The hectic and busy lifestyle of people all around the globe induces them to opt for convenient solutions like microwavable foods, which require less time to cook, which is one of the primary factors driving the growth of the global microwavable foods market. The growing popularity of fast food restaurant chains like quick-service restaurants (QSR) is another reason complementing the growth of the global market.

 

The global microwavable foods market was valued at $150 million in 2021 and is likely to attain a value of $210 million by the end of 2028. The market is likely to expand with a compound rate of 5.7% during the forecast period.

Some of the significant players in the global microwavable foods market include Pinnacle Foods Group LLC, Bellisio Foods Inc., Beech-Nut Nutrition Corporation, Campbell Soup Company, Unilever Plc, ConAgra Foods, Inc., General Mills Inc., Ajinomoto Windsor, Inc.

 

North America swipes the largest share in the global microwavable foods market due to the high demand for innovative food solutions and simpler preparation processes in the region. The rise in the trend of processed RTE food products will further contribute to the growth of the regional market in the forthcoming years.

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