The microwavable foods market share is expected to increase by USD 37.24 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.15%.
This microwavable foods market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers microwavable foods market segmentation by product (frozen food, chilled, and shelf-stable microwavable food) and geography (North America, Europe, APAC, the Middle East and Africa, and South America). The microwavable foods market report also offers information on several market vendors, including Ajinomoto Co. Inc., Bellisio Foods Inc., Campbell Soup Co, Charoen Pokphand Foods PCL, CJ CheilJedang Corp., Conagra Brands Inc., General Mills Inc., Hormel Foods Corp., ITC Ltd., Kellogg Co., McCain Foods Ltd., Mizkan America Inc., MTR Foods Pvt. Ltd., Nestle SA, Nomad Foods Ltd, Quirch Foods LLC, Rich Products Corp, The Kraft Heinz Co., Tyson Foods Inc., and Unilever PLC among others.
What will the Microwavable Foods Market Size be During the Forecast Period?
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Microwavable Foods Market: Key Drivers, Trends, and Challenges
The widened reach of vendors through organized retailing is notably driving the microwavable foods market growth, although factors such as concerns over health issues due to the use of preservatives may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the microwavable foods industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.
Key Microwavable Foods Market Driver
The widened reach of vendors through organized retailing is one of the major drivers impacting the microwavable foods market growth. The retail industries in different countries have witnessed a growth in organized retailers with the establishment of supermarkets, hypermarkets, independent retailers, and convenience stores. Convenience has become a key factor for consumers because of their hectic lifestyles and work schedules. Frozen food products, including snacks, are primarily sold by large organized retailers signifying the heavy reliance of consumers on these retailers. It also allows consumers to choose the brand of their choice from a wide range of food products. There has also been a significant increase in the number of organized retailers in some of the major countries across the globe. In 2021, the US, Brazil, the UK, Germany, Italy, Spain, China, Canada, France, Australia, and Japan were some of the major countries that have a high degree of penetration of organized retailing outlets. Therefore, a significant increase in the expansion of retail stores offering microwavable foods is likely to drive market growth during the forecast period.
Key Microwavable Foods Market Trend
The adoption of blockchain in the oil and gas refining industry is one of the major trends influencing the microwavable foods market growth. A petroleum refinery faces various problems that may hinder the production of refined products. Thus, to increase the production of petroleum products and the efficiency of refining operations, it is essential to address the problems associated with refinery operations and factors that hinder the growth of the refinery output. One of the problems that hinder the growth of the refinery business is the complexity of logistics, especially in areas where the lack of refineries leads to the high prices of fuel. For the exchange of small and medium volumes of fuels, the convenient mode of exchange is not available due to the complicated calculations involved during trading. As a result, technological advances, such as blockchain, are being introduced to address these issues. Blockchain platforms enable the fast processing of transactions between all the stakeholders in the supply chain and maintain transparency, thereby ensuring security. Hence, this builds trust among the various stakeholders and reduces the costs involved.
Key Microwavable Foods Market Challenge
Concerns over health issues due to the use of preservatives are one of the major challenges impeding the microwavable foods market growth. Preservatives are natural or synthetic compounds that slow or prevent bacterial growth. They have applications in a wide range of products, such as food, pharmaceutical products, and personal care products. Their primary purpose is to prevent spoilage and contamination of the products in which they are used. However, there are concerns regarding the exposure to radiation emitted from microwaves in microwavable food and their effects on concentration, energy levels, and sleep patterns of an individual. Ultra-processed food also carries the risk of cancer in the long run, besides being low in nutritional content. For instance, food associated with cancer risk includes mass-produced packaged bread and baked goods, instant noodles and soups, sweet or savory packaged snacks, meatballs, chicken and fish nuggets, frozen or shelf-stable ready meals, and other reconstituted meat products transformed with the addition of preservatives other than salt (for instance, nitrites). All these factors hinder the adoption of microwavable food.
This microwavable foods market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the global microwavable foods market as a part of the global packaged foods and meats under the global food products segment of the global food, beverage, and tobacco market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the microwavable foods market during the forecast period.
Who are the Major Microwavable Foods Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Ajinomoto Co. Inc.
- Bellisio Foods Inc.
- Campbell Soup Co
- Charoen Pokphand Foods PCL
- CJ CheilJedang Corp.
- Conagra Brands Inc.
- General Mills Inc.
- Hormel Foods Corp.
- ITC Ltd.
- Kellogg Co.
- McCain Foods Ltd.
- Mizkan America Inc.
- MTR Foods Pvt. Ltd.
- Nestle SA
- Nomad Foods Ltd
- Quirch Foods LLC
- Rich Products Corp
- The Kraft Heinz Co.
- Tyson Foods Inc.
- Unilever PLC
This statistical study of the microwavable foods market encompasses successful business strategies deployed by the key vendors. The microwavable foods market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The microwavable foods market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Microwavable Foods Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the microwavable foods market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
Which are the Key Regions for Microwavable Foods Market?
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33% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for the microwavable foods market in North America. Market growth in this region will be faster than the growth of the market in other regions.
The busy lifestyles of people will facilitate the microwavable foods market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic adversely affected the economies of various countries in North America. Governments of countries such as the US, Mexico, and Canada imposed stringent COVID-19-related restrictions, such as nationwide lockdowns and stay-at-home regulations, which resulted in the temporary closure of various industries, including those manufacturing microwavable foods. This resulted in decreased demand for microwavable foods from physical retail outlets in North America
What are the Revenue-generating Product Segments in the Microwavable Foods Market?
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The microwavable foods market share growth in the frozen food segment will be significant during the forecast period. They are convenient alternatives to cooking and are increasingly being opted for by the working population globally.
This report provides an accurate prediction of the contribution of all the segments to the growth of the microwavable foods market size and actionable market insights on post COVID-19 impact on each segment.
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Microwavable Foods Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.15% |
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Market growth 2022-2026 |
$ 37.24 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.7 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 33% |
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Key consumer countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Ajinomoto Co. Inc., Bellisio Foods Inc., Campbell Soup Co, Charoen Pokphand Foods PCL, CJ CheilJedang Corp., Conagra Brands Inc., General Mills Inc., Hormel Foods Corp., ITC Ltd., Kellogg Co., McCain Foods Ltd., Mizkan America Inc., MTR Foods Pvt. Ltd., Nestle SA, Nomad Foods Ltd, Quirch Foods LLC, Rich Products Corp, The Kraft Heinz Co., Tyson Foods Inc., and Unilever PLC |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Microwavable Foods Market Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive microwavable foods market growth during the next five years
- Precise estimation of the microwavable foods market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the microwavable foods industry across North America, Europe, APAC, Middle East and Africa, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of microwavable foods market vendors
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