Global Convenience Food Market Set to Reach $873 Billion by 2032 - Health and Convenience Converging in Asia-Pacific, Making it a Regional Hotspot for Growth

Dublin, June 14, 2024 (GLOBE NEWSWIRE) -- The "Convenience Food Market Report by Type (Ready-to-eat, Frozen Food), Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, Others), Countries and Company Analysis 2024- 2032" report has been added to's offering.

The Global Convenience Food Market is currently witnessing a substantial upsurge, largely attributed to the accelerated urbanization and increased disposable incomes contributing to the market's growth. The trend towards urban living is expected to continue, potentially doubling the metropolitan population by 2050 and propelling the demand for ready-to-eat food products.

The report's findings shed light on the potential growth prospects of convenience foods across various distribution channels including supermarkets, hypermarkets, convenience stores, and online retail. It also provides a detailed analysis of the market performance in key countries across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Innovation and Consumer Preferences

A key force behind the market growth is the diversification of the product range and creativity in food processing and packaging, responding to evolving consumer preferences. Sustainability is increasingly influencing purchase decisions, with a significant share of consumers willing to pay more for environmentally friendly packaging. Catering to a broad spectrum of demographics, convenience food producers are continually innovating to meet the demands for quick yet nutritious meal options in today’s fast-paced world.

E-Commerce and Accessibility

The remarkable expansion of e-commerce has also played a pivotal role in shaping the convenience food industry. With online shopping gaining traction, a wide array of convenience food products has become readily available, catering to the needs of people seeking mealtime solutions that fit their busy lifestyles.

The Significance of Ready-to-Eat Foods

Ready-to-eat foods have become essential to the market, offering a variety of options tailored for every age group and catering to specific consumer trends and preferences. These products are especially significant for those balancing various professional and personal commitments, providing an efficient solution without compromising on taste or quality.

Focus on Asia-Pacific Development

The Asia-Pacific region is a powerhouse in the consumption and innovation of convenience foods, with urbanization and the quickening pace of life driving demand. Health and convenience are converging as consumers in the region seek tasty yet health-oriented food solutions, including vegan and allergen-free options. The e-commerce sector in Asia further facilitates the accessibility of convenience foods directly to the consumer.

Leading Market Players

The report prominently features Major players who are pioneering in the convenience food sector such as:

  • General Mills Inc.
  • Conagra Brands
  • Nestlé S.A.
  • Hormel Foods
  • Unilever PLC
  • The Kraft Heinz Company
  • Nomad Foods Ltd.
  • B&G Foods, Inc.

Their recent developments include innovative product launches tailored to cater to the dynamic needs and preferences of consumers across the globe. Emphasis is being placed on expanding the frozen food portfolio, unveiling specialty-sized entrées, and initiating strategic collaborations to strengthen the market presence.

Key Attributes

Report AttributeDetails
No. of Pages180
Forecast Period2023-2032
Estimated Market Value (USD) in 2023$511.57 Billion
Forecasted Market Value (USD) by 2032$873.87 Billion
Compound Annual Growth Rate6.1%
Regions CoveredGlobal

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Convenience Food Market

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