Global Convenience Food Market was priced at US$ 511.57 Billion in 2023. The report forecasts a 6.13% CAGR from 2024 to 2032. The market is predicted to be priced at US$ 873.87 Billion by 2032.
The creation of convenience foods was intended to simplify our lives. They allow us to grab pre-prepared items while on the road and reduce the time we spend preparing at home. Even though they are not typically considered "healthy," the wide variety of readily available convenient foods is changing that. Food labeled "tertiary processed food," or convenience food, has undergone further processing to render it more palatable. The meal could have been thoroughly cooked into a salad, sandwich, or ready-to-eat meal. As an alternative, it might be a food that is easy to eat outdoors, such as cheese, cold cuts, chocolate bars, or fruit.
The thriving e-commerce in Asia enables the direct delivery of convenience food. Regional influences define the Asia-Pacific market. East Asia (China, Japan, and South Korea) emphasizes freshness, with improvements in microwave-friendly food and various flavors, including kimchi and sushi. Southeast Asia (Indonesia, Thailand, and Vietnam) favors ambitious flavors, with single-serve packaging inspired by street foods like Pad Thai and Pho.
2. Frozen food
2. Convenience Stores
3. Online Retail
4. Others
1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
2. Conagra Brands
3. Nestlé S.A.
4. Hormel Foods
5. Unilever PLC
6. The Kraft Heinz Company
7. Nomad Foods Ltd
8. B&G Foods, Inc.
The creation of convenience foods was intended to simplify our lives. They allow us to grab pre-prepared items while on the road and reduce the time we spend preparing at home. Even though they are not typically considered "healthy," the wide variety of readily available convenient foods is changing that. Food labeled "tertiary processed food," or convenience food, has undergone further processing to render it more palatable. The meal could have been thoroughly cooked into a salad, sandwich, or ready-to-eat meal. As an alternative, it might be a food that is easy to eat outdoors, such as cheese, cold cuts, chocolate bars, or fruit.
Global Convenience Food Market Trends
- Swift urbanization coupled with increasing disposable income
- Diversity and creativity
- Expansion of online commerce
Ready-to-eat foods are crucial components of the market
Due to their various minor and enormous ambitions, humans require more time. Food prepared, cooked, and packaged ahead of time so consumers can enjoy it without requiring extensive cooking times or preparation is theoretically defined as ready-to-eat. Specially packaged foods have become more of a priority for businesses, catering to a wide range of age groups, from finicky children to parents who work from home and senior citizens. While considering consumer trends and desires, there is something for everyone. This is driving the convenience food sector worldwide.Asia-Pacific convenience food market
Convenience food consumption and innovation dominate the market in the Asia-Pacific area. Fast-paced life and urbanization in crowded Asian cities increase the demand for quick meal solutions. The vital findings of a report by four United Nations agencies show that nearly 55% of the region's population is anticipated to live in urban areas by 2030. Professionals and college students who face time constraints are increasingly depending on convenience foods. There is a trend of fitness and convenience meeting, with consumers prioritizing nutritious but handy options. This will increase demand for easy, ready-to-heat food, including vegan or gluten-free choices. In February 2022, VegaBytz added a 100% vegan meat product in India. All meat, chicken, tuna-ready meals, and curry products through VegaBytz are vegan and crafted solely from plants.The thriving e-commerce in Asia enables the direct delivery of convenience food. Regional influences define the Asia-Pacific market. East Asia (China, Japan, and South Korea) emphasizes freshness, with improvements in microwave-friendly food and various flavors, including kimchi and sushi. Southeast Asia (Indonesia, Thailand, and Vietnam) favors ambitious flavors, with single-serve packaging inspired by street foods like Pad Thai and Pho.
Global Convenience Food Company News
The critical global convenience food market companies are General Mills Inc., Conagra Brands, Nestlé S.A., Hormel Foods, Unilever PLC, The Kraft Heinz Company, Nomad Foods Ltd, and B&G Foods, Inc.- In March 2024 - BigBasket, the grocery e-tailer, collaborates with chef Sanjeev Kapoor to launch a new frozen food brand called Precia. Precia offers three product categories: frozen veggies, nibbles, and sweets.
- In October 2023 - Amy’s Kitchen unveiled ""Family Size Entrées"" in response to shifting consumer preferences, especially among busy families, and in line with trends in the frozen food industry. This launch highlights the meals and focuses on packaging design and convenience. Given hectic schedules, families are searching for convenient, wholesome meal options, a need Amy's Kitchen meets with its range of frozen meals tailored for the entire family.
- In July 2023 - Conagra Brands Inc. unveiled a summer lineup of diverse frozen products, catering to various consumer tastes and lifestyles with multiple brands, entrees, flavors, and price points.
- In June 2023 - The Nestlé and PAI Partners joint venture aims to revitalize and develop Nestlé's European frozen pizza business, highlighting adaptability to evolving consumer preferences and market trends in the dynamic food industry.
- In April 2022 - Prasuma expanded its frozen food portfolio with the introduction of new products, which are now accessible in all 70 cities through partner retail outlets such as Meatigo.com, Walmart, Nature’s Basket, and Swiggy Instamart.
Type - Market breakup in 2 viewpoints:
1. Ready-to-eat2. Frozen food
Distribution Channel - Market breakup in 4 viewpoints:
1. Supermarkets & Hypermarkets2. Convenience Stores
3. Online Retail
4. Others
Country - Market breakup of 25 Countries:
1. North America1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
1. General Mills Inc.2. Conagra Brands
3. Nestlé S.A.
4. Hormel Foods
5. Unilever PLC
6. The Kraft Heinz Company
7. Nomad Foods Ltd
8. B&G Foods, Inc.
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. Global Convenience Food Market
4. Market Dynamics
6. Global Convenience Food - Market Share Analysis
7. Product - Global Convenience Food Market
8. Distribution Channel - Global Convenience Food Market
9. Countries - Global Convenience Food Market
10. Porter’s Five Forces Analysis - Global Convenience Food Market
11. SWOT Analysis - Global Convenience Food Market
12. Key Players
List of Tables
List of Figures
Companies Mentioned
- General Mills Inc.
- Conagra Brands
- Nestlé S.A.
- Hormel Foods
- Unilever PLC
- The Kraft Heinz Company
- Nomad Foods Ltd
- B&G Foods, Inc.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 180 |
| Published | May 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 511.57 Billion |
| Forecasted Market Value ( USD | $ 873.87 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
