Europe Microwavable Foods Market is expected to grow at a CAGR of 4 % during the forecast period which is expected to reach a value of 117.250 billion by 2027.
Europe Microwavable Foods Market Overview:
Our lifestyles have become extremely busy and fast-paced in recent years, and there has been a shift in consumption patterns from raw food to convenience foods and ready-to-eat meals. Microwavable foods rapidly replace cooked meals because they take less time to prepare and can be quickly cooked using a standard microwave oven. There are loads of options in this category, ranging from frozen meals to frozen meat and gourmet foods such as pizza, pasta, soups, etc. Consumers only seek food options that have nutritional benefits and are simple to prepare. There has been a rise in industrialization, the growth of nuclear families, and an increase in disposable income, all of which have fueled the Growth of this Market. The popularity of fast-food restaurants has also increased, contributing to the Market's growth. Due to their large population base, increase in the number of employed people, and increase in QSRs such as Burger King, Mcdonalds, and subway, Europe has seen a huge demand and growth for the production and consumption of microwavable food items. During the forecast period, this growth is expected to boost demand for this Market. Germany has been a significant market segment for this Market. During the forecast period, the Microwaveable foods Market is expected to grow steadily.
Europe Microwavable Foods Market Drivers and Restraints:
The Europe Microwavable foods market is being driven by urban population growth, which is increasing demand for convenience foods and the number of nuclear families. People have multiple jobs and very hectic lifestyles, and the number of women in the workforce is increasing in European countries, which increases the demand for these ready-to-cook foods. There has also been an increase in the number of retail chains that have been expanding and growing exponentially. They provide consumers with convenience because they have various options available in one location. There has been a significant investment in R&D activities in this sector, as market players are constantly striving to develop advanced freezing and preservation technologies. Food supply chain companies' sales have contributed significantly to the revenue generated by this Market. These foods are gaining popularity in developed countries where consumption is higher. However, consumers generally perceive frozen and microwaveable foods as having low nutritional value and high levels of sodium and other preservatives, making them inferior to fresh food. These products are prepared in advance and are safe to consume even after months of production, which is not considered acceptable. These preservatives and microwave radiation can affect energy levels, contribute to obesity, and disrupt digestion and sleep patterns in individuals. Additionally, there is a growing preference for natural and organic foods, which can hamper and slow market growth during the forecast period.
The European Microwavable foods Market is segmented based on Product Type, Distribution Channel, Packing Technology, and Region.
By Product Type :
Shelf Stable Microwavable Food
Based on category, the frozen food segment is leading with the dominant shares of the Europe microwavable foods market. However, due to increasing awareness of healthy lifestyles and a nutritional diet, there is a shift in consumer perception of organic foods. It is expected to grow during the forecast period rapidly.
Regarding the product type, the frozen segment of the microwavable foods market has been dominating and overgrowing. They provide many conveniences, and because of the technology used to preserve them, they also have nutritional benefits and a taste comparable to freshly cooked food. Consumers are becoming more health conscious, so they are constantly looking for healthy options to help them maintain their lifestyle and health. The freezing technology eliminates preservatives while maintaining the essential nutrients and vitamins. Investment in R&D technology is also assisting in improving the quality of these products, which is expected to drive the Market during the forecast period.
By Distribution Channel :
Due to the increase in the number of hypermarkets and supermarkets in urban regions, the retail sector has dominated the Market in terms of distribution channels. They have many options available in one location and provide consumers with many conveniences.
By Packaging Tecbnology :
Patterned susceptors Technology
New Tray Lidding Methods
New Cook Bag Technique
Based on packing technology, patterned susceptor technology dominates the segment because it allows food to reach high temperatures.
Rest of Europe
Lamb Weston Holdings Inc.
The Kraft Heinz Company
Hain Celestial Company
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