Dublin, May 16, 2024 (GLOBE NEWSWIRE) -- The "Microwavable Foods - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Microwavable Foods Market to Reach $204 Billion by 2030
The global market for Microwavable Foods estimated at US$145.9 Billion in the year 2023, is projected to reach a revised size of US$204 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2023-2030.
Microwavable foods are adapting to evolving culinary preferences by offering quick and convenient cooking solutions. Recent market activity reflects advancements in microwave packaging, enhancing the cooking experience. The global outlook for microwavable foods includes insights into key competitors' market share and their presence categorized by strength.
Frozen Microwavable Foods, one of the segments analyzed in the report, is expected to record a 5% CAGR and reach US$169.4 Billion by the end of the analysis period. Growth in the Chilled Microwavable Foods segment is estimated at 4.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $38.4 Billion, While China is Forecast to Grow at 7.8% CAGR
Despite economic fluctuations, the market benefits from a resurgence in frozen foods and ready meals, driven by consumer demand for convenience and health. Food processors are dispelling myths about frozen microwavable foods, particularly in the realm of ready meals and value-added options like blanched fruits and vegetables. Growing interest in microwavable seafood meals, along with the culinary preferences of millennials for home-cooked meals, further boosts market demand, with the global millennial population serving as an important indicator of opportunity.
The Microwavable Foods market in the U.S. is estimated at US$38.4 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$46 Billion by the year 2030 trailing a CAGR of 7.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.8% respectively over the 2023-2030 period.
Within Europe, Germany is forecast to grow at approximately 3.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$28.5 Billion by the year 2030.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 274 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $145.9 Billion |
| Forecasted Market Value (USD) by 2030 | $204 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Microwavable Foods: Meeting Ever-Changing Culinary Demands & Enabling Cooking Perfection in Few Hot Minutes
- Recent Market Activity
- Microwave Packaging Advancements Transform the Microwave Cooking Experience
- Global Market Outlook
- Microwavable Foods - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Global Economic Update
MARKET TRENDS & DRIVERS
- The Frozen Food Renaissance & the Ready Meals Revolution Drives Healthy Growth in Demand for Microwavable Foods
- Food Processors Try to Eliminate Myths about Frozen Microwavable Foods
- Frozen Ready Meals Lead the Pack
- Value-Added Microwave Oven Blanched Frozen Fruits and Vegetables Gain Prominence
- Growing Interest in Frozen Microwavable Seafood Meals Augur Well for the Market
- The Millennials and their Preference for Cooking at Home Benefit Market Demand
- Global Millennial Population Facts & Figures: Important Opportunity Indicators
- Shelf-Stable Microwavable Foods Witness Steady Growth in Demand
- Innovations in Shelf-Stable Microwavable Foods Packaging to Spur Growth
- Changing Landscape of Packaging for Shelf-Stable Foods
- Convenience Factor Drive Adaptation of Popular Snack Foods to the Microwave
- Microwavable Popcorn Feels the Heat with Growing Competition from RTE Popcorn
- Growing Focus on Health and Wellness Drives Innovation in Microwavable Foods
- MATS: Long Term Freshness of Prepared Meals without Refrigeration
- Select Innovative Healthy Microwavable Meal Options
- Packaged Foods Demand Patterns Focus on the "Microwavability" Factor
- Microwavable Ethnic Cuisine: The Order of the Day
- Healthy Eating Brings the Spotlight on Steam Cooked Vegetables
- Revival of Interest in Microwave Ovens & Steady Launch of Technically Advanced Models Signal Opportunities
- Whirlpool Smart Front Control Range
- Smart Microwave Cover
- Tovala 'Smart Oven' to Cook Food Better
- Microwave Oven with Radio Frequency Technology
- Freescale's New Microwave Model Replace 50-Year-Old Technology
- Microwave Ovens: Improved, Altered & Perfected to Meet Native Requirements
- RF Microwave: A New Wave of Cooking?
- Microwaving Bakery Products Unravel the Complications of a Longstanding Problem
- Microwavable Food Packaging: Redefining Convenience and Simplifying Food Preparation
- Convenience Packaging: The Precedent to Efficient Microwavable Packaging
- Innovations in Microwavable Food Packaging Contribute to Market Growth
- Favorable Demographic Trends Strengthen Market Prospects
- Expanding Global Population
- Shrinking Family Size
- Burgeoning Middle Class Population
- Rapid Urbanization
- Rising Women Workforce
- Aging Population
- Kids Emerge as a Lucrative Demographic Target for Microwavable Foods
FOCUS ON SELECT PLAYERS (Total 43 Featured)
- Ajinomoto Foods North America, Inc. (USA)
- Bellisio Foods, Inc. (USA)
- BRF S.A. (Brazil)
- Campbell Soup Company (USA)
- Conagra Brands, Inc. (USA)
- Cremonini S.p.A. (Italy)
- Dawn Farm Foods Limited (Ireland)
- General Mills, Inc. (USA)
- Gunnar Dafgard AB (Sweden)
- Hormel Foods Corporation (USA)
- Itoham Foods, Inc. (Japan)
- Kellogg Company (USA)
- Maple Leaf Foods Inc. (Canada)
- McCain Foods Limited (Canada)
- Nestle S.A. (Switzerland)
- Pinnacle Foods, Inc. (USA)
- Birds Eye Group, Inc. (USA)
- San Miguel Food and Beverage, Inc. (The Philippines)
- Schwan's Company (USA)
- The Kraft Heinz Company (USA)
For more information about this report visit https://www.researchandmarkets.com/r/xngven
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
