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Microwavable Foods Market by Product (Shelf Stable Microwavable Food, Chilled Food, and Frozen Food), Packaging Technology (Patterned Susceptors Technology, New Tray-lidding Methods, and New Cook Bag Technique), and Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online Sales Channel, and Others) And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts 2022 to 2027

Published: March, 2023
ID: 13346
Pages: 180
Formats: report pdf report excel report power bi report ppt

Microwavable Food Market Size, Growth, Forecast (2022-2027)

Microwavable food was valued at USD 120.50 billion in 2022 and is expected to expand at a CAGR of 5.5% to reach the value of USD 230.5 billion by 2027.

Microwavable foods require less time for preparation and can be cooked using a conventional microwave oven. It contains shelf stable, chilled& frozen meals such as pork, poultry, seafood, beef, vegetarian meals, frozen & chilled pizza, and soups.

Microwavable Foods Market

Recent Developments in Global Microwavable Food Market

  • In Dec 2021, McCain Foods announced a partnership with Strong Roots a leading plant-based frozen food company investing USD 55 million in Strong Roots to take a minority stake in the business. With this partnership, McCain Foods will have access to a wider range of products that will appeal to the growing number of consumers seeking delicious, easy-to-make meals that are natural, healthy, and contain real fruits and vegetables.

  • In August 2021, StarKist launched StarKist Creations Microwavable, its new microwavable tuna meals available in four different varieties. StarKist Creations Microwavables is the first shelf-stable seasoned tuna with vegetables and grains in a microwave-safe pouch.  

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 - 2026

Base Year

2021

Forecast Period

2022 - 2027

CAGR

5.5 %

Segments Covered

By Product, Type, Consumption, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

Market Leaders Profiled

McCain Foods, Pinnacle Food Inc., Kellogg Company, Nstle SA, The Kraft Heinz Company, Ajinomoto Windsor, Inc., General Mills Inc., StarKist, Unilever Plc, ConAgra Foods, Inc.

Microwavable Food Market Drivers

The huge demand for easy and convenient meals is the major factor in the growth of microwavable food. The other factors include the expansion of the urban population and nuclear families, and the increasing number of working women is accelerating the demand for microwavable food. The demand for ready-to-eat food items is projected to be driven by people's busy and hectic lifestyles, which is anticipated to increase demand for the global market for microwaveable foods. In addition to this, the high standards of living, and the rapid growth of huge retail chains contribute to the expansion of the Global Microwavable Food market.

Some nutrients degrade when they're exposed to heat, whether by microwave or an ordinary oven. For example, because microwave cooking durations are shorter, using a microwave to prepare food preserves more nutrients like vitamin C and other ingredients that degrade when heated.The food that is cooked quickly, without taking much time for heating the food and that uses less liquid preserves the nutrients of that food. Microwaving helps preserve these essential nutrients as they involve less time for preparing or heating food. When food is heated in the microwave with a small amount of water, it is usually steam-cooked from the inside out. This demonstrates that microwave meals can be nutritional as they retain more vitamins and minerals than almost any other type of cooking.The microwavable food market is expected to present a lucrative opportunity for players due to rising R&D efforts by several manufacturers of microwaveable food. For advancements in freezing technology and the rising establishment of numerous fast-food outlets in developing economies, several producers of microwavable food are investing in R&D.

Microwavable Food Market Restraints

Rising health concerns due to frozen, refrigerated, and shelf foods, and raising awareness of nutrient content in ready-to-eat foods may hamper the growth of Microwaveable food. People believe that food prepared several months or more before it is consumed is unhealthy. This may be another factor hindering the overall growth of the global microwave food market.

Microwavable Food Market Segmentation:

Microwavable Food Market - By Product Type

Based on product type, the Shelf stable foods are dominating the Microwavable Food Market due to their stability, quality, and long-life feature. Shelf Stable foods enable us to store food in our homes and pantries for a longer period resulting in limited trips to grocery stores. It also costs less when compared to the traditional way of cooking. These factors are boosting the growth of the Shelf stable microwavable food segment.

Microwavable Food Market - By Packaging Type

  • Trays

  • Folding Cartons

  • Cups, Tubs, and Bowls

  • Bags and Pouches

  • Sleeves

Microwavable Food Market - By Packaging Technology

  • Patterned Susceptors Technology

  • New Tray-lidding Methods

  • New Cook Bag Technique

Based on packaging technology, Patterned Susceptors Technology is holding a significant share in the Microwaveable food market. Susceptors are designed to cook food quickly in a microwave oven and to make it resemble the same food as traditionally cooked. In order to prevent overheating and overcooking and raise the filling temperature of the food product, prevent delamination of the container in the folded region, and encourage an adequate level of cooking of the food product crust the patterned susceptors technology is used.

Microwavable Food Market - By Distribution Channel

  • Hypermarkets/Supermarkets

  • Convenience Stores

  • Online Sales Channel

  • Others

Based on Hypermarkets/Supermarkets are expected to lead the Microwavable food market. The demand for microwaveable goods is fuelled by the rapid growth in the number of large retail chains, including supermarkets and hypermarkets. Moreover, the huge availability of consumer goods under one roof, the availability of abundant parking, and convenient operating hours all contribute to the hypermarket/supermarket segment's expansion in both developed and emerging regions.

Microwavable Food Market - By Region

  • North America

  • Europe

  • Asia-Pacific

  • Latin America

  • Middle East

  • Africa

North America and Europe are expected to hold a significant market share in the Global Microwavable Segment during the forecast period. The substantial market share can be attributed to the infrastructure of retail food chains that have been in place for a while, the rising disposable income, and the increasing number of people in these regions. Moreover, the technological developments and expanding innovations that help in better packaging for microwavable food products are accelerating the growth of this market in these regions during the forecast period.

Microwavable Food Market Key Players

  1. McCain Foods

  2. Pinnacle Food Inc.

  3. Kellogg Company

  4. Nestle SA

  5. The Kraft Heinz Company

  6. Ajinomoto Windsor, Inc.

  7. General Mills Inc.

  8. StarKist

  9. Unilever Plc

  10. ConAgra Foods, Inc.

  11. Campbell Soup Company

  12. Beech-Nut Nutrition Corporation

  13. Bellisio Foods Inc.

  14. Pinnacle Foods Group LLC

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FAQ's

What are the key drivers accelerating the demand for the Global Microwavable Food Market?

The huge demand for easy and convenient meals, the increasing number of working women, the increasing supply chain food market, and advancements in R&D technology for frozen food and packaging are contributing to the growth of the Global Microwavable Food Market. Additionally, microwave cooking durations are shorter, using a microwave to prepare food preserves more nutrients like vitamin C and other ingredients. This feature is accelerating the demand for microwavable food worldwide.

Mention the leading region dominating the Global Microwavable Food Market.

North America and Europe are expected to hold a significant market share in the Global Microwavable Segment during the forecast period.

Which are the major players contributing to the growth of the Global Microwavable Food Market? Mention any five.

  1. McCain Foods

  2. Pinnacle Food Inc.

  3. Kellogg Company

  4. Nestle SA

  5. The Kraft Heinz Company

What is the size of the Global Microwavable Food Market and at what rate is it expected to grow?

The Global Market for Microwavable food was valued at USD 120.50 billion in 2021 and is expected to expand at a CAGR of 5.5% to reach the value of USD 230.5 billion by 2027

Mention some of the latest developments that contributed to the growth of the Global Microwavable Food Market?

In Dec 2021, McCain Foods announced a partnership with Strong Roots a leading plant-based frozen food company investing USD 55 million in Strong Roots to take a minority stake in the business. In August 2021, StarKist launched StarKist Creations Microwavable, its new microwavable tuna meals available in four different varieties

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