Microwavable foods are considered more convenient for today’s generation where most people have a work life and prefer to get readymade food. Microwaveable food requires less preparation time and can be cooked in a standard microwave oven. As the urban population grows, so does the demand for convenience food. Furthermore, rising nuclear families, increased female labor force participation, rising living standards, and a rapid increase in the number of large retail chains are the key factors promoting the sales growth of the global microwaveable foods market during the forecast period, set between 2021 and 2031.
The microwavable foods market is segmented on the basis of product, packaging technology, and region. Based on product, the market is grouped into shelf stable microwavable food, chilled food, and frozen food. In terms of packaging technology, the market is categorized into patterned susceptors technology, new tray-lidding methods, and new cook bag technique. With respect to distribution channel, the market is categorized into hypermarkets/supermarkets, convenience stores, online sales channel, and others.
The research report on microwaveable foods market provides a comprehensive overview of the market and its key growth parameters including drivers, restraints, challenges, and future opportunities. It also highlights the key innovations that made positive contribution to the market in terms of revenue generation. The impact of the novel COVID19 pandemic is also discussed in the report. List of the notable players and their key contributions in the form of innovations and system upgrades is also discussed in details.
The nature of the global microwaveable food market is consolidated on account of the presence of a few players. Leading players in the global microwaveable food market are focusing on adopting multiple growth strategies, such as innovations in the current technologies, product launches, and more to reach for the top position in the overall market competition. Other players are investing in R&D activities to ensure their brand position in the overall market competition.
Some of the key players of the global Microwaveable food market include:
The growing popularity of fast food joints, also known as quick service restaurants (QSRs), drives the global microwavable foods market. Owing to their large population bases and growth in the number of QSRs such as McDonalds, KFC, Subway, Burger King, and others, China, India, and Brazil dominate in terms of microwavable food consumption among emerging economies. The business of QSR chains in India is expected to grow eightfold as disposable income rises and urbanization accelerates, leading to increased consumption of microwavable foods. As a result, the increasing popularity of fast food restaurants around the world is expected to present a potential opportunity for manufacturers of microwavable foods.
Regionwise, the global microwaveable foods market is widespread into the regions of North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Among these, North America emerged as the largest revenue generator for the microwaveable foods market. This is owing to the rising rate of food intake solutions, coupled with the increasing iptake of processed food. This coupled with the rising culture of snacking and junk food consumption will further help this region continue dominating the market in the near future as well. On the other side, Europe stands in close competition with North America with Germany as its major contributor. This is accountable to the hectic lifestyle of people in the region especially the increasing rate of working women that propels people to opt for instant food that can be made ready with just heating over microwave.
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Microwaveable Foods Market
