A recent report published by Infinium Global Research on microwavable foods market provides in-depth analysis of segments and sub-segments in the global as well as regional microwavable foods market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional microwavable foods market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global microwavable foods market. According to the report, the global microwavable foods market is projected to grow at a CAGR of 4.2% over the forecast period of 2018-2024.
Microwavable food is defined as a prepackaged food product that requires negligible preparation for cooking. Microwaves cause fat, water and sugar molecules to vibrate 2.5 million times per second, producing heat that cooks the food. It contains frozen, shelf-stable, and chilled meals such as vegetarian meals, beef, poultry, pork, soups, and frozen and chilled pizza. The benefits offered by the microwavable food are they do a better work of preserving nutrients in fruits and vegetables than cooking on a stove top. Microwave-safe food containers let one place everything from soups to mac and cheese to popcorn inside and get a snack in only a few minutes. Moreover, Microwave ovens use less energy than all conventional ovens or stoves since they directly heat up the water in the food.
The increasing population of the working women along with the growth of nuclear families drives the growth of the microwavable foods market. Further women are turning to microwavable foods to save time and prepare quick, simple and healthy family meals. In addition, the increase in the standard of living of the people is fueling the demand for microwavable foods. The popularity of microwavable packaged snacks, desserts and meals; an increase in the number of single-person households in several countries are strengthening the growth of the microwavable foods market. A growing number of children accumulating their own meals and the ensuing demand for do-it-yourself microwaveable meal kits are spurring the market demand. However, undesirable perception related to nutritional content in the microwaveable foods is likely to curtail the growth of the microwavable foods market. Furthermore, an increasing number of retail chains and improvement in freezing technologies are further anticipated to create several growth opportunities for the key players in the microwavable foods market.
Among the geographies, North America dominated the microwavable foods market. The growth in the North American region is due to the established culture of snacking, easy meal preparation and processed food consumption in the United States. Asia-Pacific ranks as the fastest growing market due to the Westernization of food and dietary patterns and availability of microwavable precooked and ready meals/entrees foods. Moreover, bulky expenditure proficiencies of consumers and an increase in the number of women working outside the home have enhanced the consumption of microwavable foods in the European region.
The report on global microwavable foods market covers segments such as product type, and packaging technology. On the basis of product type, the sub-markets include shelf-stable microwavable food and frozen food. On the basis of packaging technology, the sub-markets include new cook bag technique and new tray-lidding methods.
The report provides profiles of the companies in the market such as Beech-Nut Nutrition Company, The Kraft Heinz Company, Nestlé S.A., McCain Foods Limited, Kellogg Company, General Mills, Inc., Bellisio Foods, Inc., CSC Brands LP, and AJINOMOTO CO., INC.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of microwavable foods market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.