Food & Beverage Market Research News

Recent research: Microwavable foods market projected to reach $136,305 million by 2023

Food & Beverage Market Research

The global microwavable foods market was valued at $100,098 million in 2016, and is projected to reach $136,305 million by 2023, registering a CAGR of 4.4% from 2017 to 2023. Microwavable food is defined as a prepackaged meal or food product that requires minimal preparation for cooking. Shelf stable microwavable food, chilled food, and frozen food are categorized under products that can be prepared in a microwave. Microwaves cause water, fat, and sugar molecules to vibrate 2.5 million times per second, producing heat that cooks the food. Foods that can be safely stored at room temperature or “on the shelf” are called shelf stable microwavable foods. These foods are pretreated by heat or dried to destroy food-borne microorganisms. Microwavable chilled food is stored at refrigeration temperatures, i.e., at or below 0 to −5°C. Chilled food products have high quality and are microbiologically safe at the point of consumption, although they have a low shelf life. Microwavable frozen food is preferred over microwavable chilled food, as it can be stored for longer periods and can be prepared in less time. Freezing maintains the nutritional value of the food items and also increases their shelf life. Microwavable frozen products do not require any added preservatives because microorganisms are unable to grow when the temperature of the food is below −9.5°C.

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Emerging economies, such as India and China, have led to high demand for microwavable food. Increase in disposable income and rise in standard of living have led to changes in the dietary preferences of consumers.

Increase in participation of women in labor force has increased the dependency on readymade and convenience food. This in turn has led to surge in demand for shelf stable, chilled, and frozen food, fueling the growth of microwavable foods market.

Rapid increase in number of large retail chains, including hypermarkets and supermarkets, fuels the demand for microwavable foods. Moreover, continuous innovation and development in the packaging of microwavable food items attracts the customer, and hence drives the overall growth of the market.

However, consumers' negative perception related to nutritional content in microwavable foods may restrain the market growth. Advancements in freezing technologies and presence of large number of fast food outlets in emerging economies are expected to provide lucrative opportunities for the market players.

The global microwavable foods market is segmented based on product, packaging technology, and geography. Based on product, the market is divided into shelf stable microwavable food, chilled food, and frozen food.

On the basis of packaging technology, it is categorized into patterned susceptors technology, new tray-lidding methods, and new cook bag technique. Based on geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Following are the major players profiled in this study:

  • Ajinomoto Windsor, Inc.
  • Campbell Soup Company.
  • ConAgra Foods, Inc.
  • General Mills Inc.
  • Kellogg Company
  • McCain Foods
  • Nestle SA
  • Pinnacle Food Inc.
  • The Kraft Heinz Company
  • Unilever Plc

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KEY BENEFITS FOR STAKEHOLDERS

  • The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global microwavable foods market to elucidate the prevailing opportunities and tap the investment pockets.
  • It offers qualitative and quantitative analysis of the global market from 2016 to 2023 to assist stakeholders to understand the market scenario.
  • In-depth analysis of the key segments demonstrates various products and packaging technology used for various microwavable foods.
  • Competitive intelligence of the industry highlights the business practices followed by key players across geographies.
  • Key players are profiled to understand the competitive outlook of the market.

KEY MARKET SEGMENTS

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 Geography

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • South Korea
  • Japan
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Saudi Arabia
  • UAE
  • South Africa
  • Turkey
  • Rest of LAMEA

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KEY PLAYERS

  • Bellisio Foods Inc.
  • Hormel Foods Corporation
  • Gunnar Dafgård AB
  • Frosta AG
  • Freiberger Lebensmittel GmbH & Co KG
  • Cargill Incorporated
  • Tyson Foods

Table Of Content 

  • CHAPTER 1: INTRODUCTION
  • CHAPTER 2: EXECUTIVE SUMMARY
  • CHAPTER 3: MARKET OVERVIEW
  • CHAPTER 4: MICROWAVABLE FOODS MARKET, BY PRODUCT
  • CHAPTER 5: MICROWAVABLE FOODS MARKET, BY PACKAGING TECHNOLOGY
  • CHAPTER 6: MICROWAVABLE FOODS MARKET, BY GEOGRAPHY
  • CHAPTER 7: COMPANY PROFILES

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