MarkNtel Advisors, a leading market research firm, has showed its latest study titled “Convenience Food Market“, offering a detailed industry overview and market perspective. This comprehensive research provides insights into the current state of the market, highlighting recent advancements and emerging trends.
The report combines in-depth quantitative analysis with qualitative analysis; it ranges from macro-overviews of the overall market size, industry chain, and market dynamics to micro details of segment markets. This, as a result, provides a thorough overview of the industry under study as well as a profound understanding of all of its important features.
Analysis and Insights into the Convenience Food Market: 2024-2030
The Convenience Food Market size is valued at around USD 528 billion in 2023 and is estimated to grow at a CAGR of about 7.45% during the forecast period, i.e., 2024-30.
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What are the primary factors driving the growth of the Convenience Food market?
Global Convenience Food Market Driver: Rapidly Changing Consumer Lifestyles Driving Inclination Toward Frozen Food & Beverages
There has been a rapid growth in the demand for frozen food and beverages, which is significantly fueling the expansion of the convenience food industry. This synergy has been attributed to numerous key factors. The frozen food and beverage sector is experiencing higher demand due to changing buyers’ preferences & lifestyles. They provide the dual benefits of ease of instruction and prolonged shelf existence, catering to the demands of time-strapped consumers. Additionally, frozen foods align seamlessly with these trends, providing convenient, ready-to-eat, or easy-to-prepare meal options. They offer a practical solution for individuals and families seeking quick, hassle-free dining choices in the packaged food segment, which has further boosted their demand.
Further, several health-conscious consumers are also contributing to this market growth, seeking out packaged options that provide nutritional value rather than fast food choices. This increasing preference for frozen & packaged foods and beverages is driving substantial growth in the market, encouraging companies to innovate and expand their product offerings to meet diverse consumer needs. For instance,
In 2024, Nestle announced its plans to launch a new frozen food range, i.e., Vital Pursuit, which would be designed specifically for consumers relying on GLP-1 medications like Wegovy, Ozempic, etc.
Furthermore, the packaged food industry’s robust distribution networks and marketing strategies make it easier for frozen food products to reach a broader consumer base. These efforts have been driving the market growth of frozen convenience food items, which is anticipated to improve in the upcoming years as well.
Convenience Food Market Segmentation:
The Convenience Food market is categorized in to different segments. Analyzing growth across these segments enables a comprehensive understanding of key growth areas within the industry. This segmentation provides valuable market insights, empowering stakeholders to make strategic decisions and identify primary market applications effectively.
By Type
-Ready-to-Eat Food
-Chilled Food
-Canned Food
-Frozen Food
-Others (Beverages, Ready-to-Cook Food, etc.)
- The frozen food segment accounts for the majority of the market share in the Global Convenience Food Market, offering a variety of products like fruits and veggies, pizzas, and desserts.
By Product
-Meat/Poultry Products
-Cereal-based Products
-Vegetable/Fruit-based Products
-Others (Dairy-based, Fish and Seafood, etc.)
By Distribution Channel
-Offline Retail
–Supermarkets/Hypermarkets
–Departmental Stores
–Specialty Stores
–Convenience Stores
–Others (Mom & Pop Shops, Discount Stores, etc.)
-Online Retail
Geographical Analysis into the Convenience Food Market:
- North America: US, Canada, Mexico
- Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
- Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA
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Competitive Landscape and Convenience Food Market Share Analysis:
The competitive landscape of the Convenience Food market includes comprehensive details about competitors. These details encompass company overviews, financial performance, revenue generation, market potential, investments in research and development, new market strategies, production facilities, strengths and weaknesses, product launches, ongoing trials, approvals, patents, product range, dominant applications, and technology life cycle.
The report features major players including:
Ajinomoto Co., Inc., Amy’s Kitchen, Inc., Cargill, Incorporated, General Mills Inc., McCain Foods Limited, MTR Foods Pvt. Ltd. (Orkla ASA), Nestlé SA, Tyson Foods Inc., Associated British Foods Plc, Grupo Bimbo, JBS Foods, Europastry S.A., Bakkavor Group Plc, Mosaic Foods, Mondelz International, Inc., Kraft Heinz, and others
Market research studies from MarkNtel Advisors are offered in PDF, Excel and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address.
Questions Addressed in this Study
- What factors are driving the Convenience Food Market growth?
- How is the Convenience Food Market expected to grow over the next five years?
- What are the key insights into the current trends in the Convenience Food Market?
- What is the current size of the Convenience Food Market, and how is it projected to change in the future?
- What is the future outlook for the Convenience Food Market in terms of technological advancements and market expansion?
Why choose MarkNtel?
MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 14.8 diverse industrial verticals.
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