Global Convenience Food Market Analysis
The Convenience Food Market was US$511.57 billion in 2023 and could attain US$873.87 billion with the aid of 2032, with a 6.13% CAGR from 2024 to 2032.
Convenience or tertiary-processed meals undergo additional processing to make them consumable. These include pre-cooked, geared-up-to-devour meals, sandwiches or salads, and quick consumable items like cold cuts, cheese, fruit, or chocolate bars.
The demand for convenient foods is strong for the younger generations, in particular Gen Z. However, older consumers also show growing interest, in particular while time more healthy options are to be presented from unique brands. Gen Z consumers prioritize excellent over prices and are interested by effortlessly packaged meals with ultra-modern, appealing designs. Millennials, sandwiched amongst Gen Z and seniors, prioritize the environmental impact of food and packaging and its health benefits for on-the-go intake. On the other hand, seniors choose traditional dishes in smaller, readily available applications, prioritizing minimum instruction and pre-portioned substances for comfort.
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Ø According to NCBI, Snacks incorporate 22% of the American eating regimen, with over 90% of adults consuming at least one daily snack. In 2023, the average frequency of snacking will be 1.2 to 3.0 times daily.
Ø According to simplplotfoods.Com, the average consumption of comfort food in step with character in Southeast Asia is predicted to be 10.47 kg in 2023.
Ø China consumes a lot of fast foods, with 97% of the populace partaking and 41% eating fast foods at the least as per week.
United States Convenience Food Market
The US Convenience food market is a subnational sector that serves the desires of busy individuals. It offers an extensive variety of picks, which consist of pre-cooked meals, frozen entrees, canned soups, and quick snacks that may be heated in a microwave, addressing the necessities of a fast-paced society. These products undergo diverse processing tiers to extend their shelf lives, probable impacting their dietary price. Consumers should find a stability between comfort and fitness considerations. As purchaser picks lean towards more healthful options, the market responds by providing several picks. This shift is predicted to propel marketplace growth in the course of the U.S. In 2021, the distinguished US meals corporation General Mills added prepared-to-eat cookies beneath its baking emblem, Pillsbury, for the primary time.
Global Convenience Food Company Analysis
The major worldwide convenience food groups are General Mills Inc., Conagra Brands, Nestlé S.A., Hormel Foods, Unilever PLC, The Kraft Heinz Company, Nomad Foods Ltd., and B&G Foods, Inc.
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Convenience Food Company News
Ø In February 2024, Sukhi's Gourmet Indian Foods is ready to launch 3 new refrigerated entrees: Tamarind-Pulled Chicken, Chicken Chili, and Butter Chicken.
Ø In February 2024, Catalina Crunch delivered an emblem-new flavor, Peanut Butter, to its Dark Chocolate Cookie Bars line.
Ø In March 2024, BigBasket partnered with chef Sanjeev Kapoor to introduce a logo-new frozen meal emblem known as Precia. The emblem will consist of 3 product categories: frozen greens, nibbles, and chocolates.
Ø In October 2023, Amy’s Kitchen added "Family Size Entrées" to fulfill the desires of busy families and align with tendencies in the frozen meals company. The release emphasizes on hand packaging and imparts healthful meal alternatives for the complete own family.
Ø In July 2023, Conagra Brands Inc. Delivered a huge variety of frozen products for the summer time, targeted different patron alternatives with many manufacturers, entrees, flavors, and price alternatives.
Ø In June 2023, The Nestlé-PAI Partners joint task goals to revitalize and increase Nestlé's frozen pizza commercial organization in Europe via adapting to changing consumer options and corporation trends.
Ø In April 2022, Prasuma increased its frozen food portfolio and added new merchandise now to be had in 70 cities via partner shops, which includes Meatigo.Com, Walmart, Nature’s Basket, and Swiggy Instamart.
Type – Market breakup in 2 viewpoints:
1. Ready-to-eat
2. Frozen food
Distribution Channel – Market breakup in 4 viewpoints:
1. Supermarkets & Hypermarkets
2. Convenience Stores
3. Online Retail
4. Others
Country – Market breakup of 25 Countries:
1. North America
1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
All the Key players have been covered from 3 Viewpoints:
• Overview
• Recent Development
• Revenue Analysis
Company Analysis:
1. General Mills Inc.
2. Conagra Brands
3. Nestlé S.A.
4. Hormel Foods
5. Unilever PLC
6. The Kraft Heinz Company
7. Nomad Foods Ltd
8. B&G Foods, Inc.
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