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 ResearchAndMarkets.com'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 Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $511.57 Billion |
| Forecasted Market Value (USD) by 2032 | $873.87 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/xnrok2
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.
Attachment
