Microwavable Foods Market Overview, Outlook, Analysis and Forecast From 2017 To 2023
Microwavable Foods Market, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.
he global microwavable foods market was valued at $100,098 million in 2016, and is projected to reach $136,305 million by 2023, registering a CAGR of 4.4% from 2017 to 2023. Microwavable food is defined as a prepackaged meal or food product that requires minimal preparation for cooking. Shelf stable microwavable food, chilled food, and frozen food are categorized under products that can be prepared in a microwave. Microwaves cause water, fat, and sugar molecules to vibrate 2.5 million times per second, producing heat that cooks the food. Foods that can be safely stored at room temperature or “on the shelf” are called shelf stable microwavable foods. These foods are pretreated by heat or dried to destroy food-borne microorganisms. Microwavable chilled food is stored at refrigeration temperatures, i.e., at or below 0 to ?5?C. Chilled food products have high quality and are microbiologically safe at the point of consumption, although they have a low shelf life. Microwavable frozen food is preferred over microwavable chilled food, as it can be stored for longer periods and can be prepared in less time. Freezing maintains the nutritional value of the food items and also increases their shelf life. Microwavable frozen products do not require any added preservatives because microorganisms are unable to grow when the temperature of the food is below ?9.5?C.
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Emerging economies, such as India and China, have led to high demand for microwavable food. Increase in disposable income and rise in standard of living have led to changes in the dietary preferences of consumers. Increase in participation of women in labor force has increased the dependency on readymade and convenience food. This in turn has led to surge in demand for shelf stable, chilled, and frozen food, fueling the growth of microwavable foods market. Rapid increase in number of large retail chains, including hypermarkets and supermarkets, fuels the demand for microwavable foods. Moreover, continuous innovation and development in the packaging of microwavable food items attracts the customer, and hence drives the overall growth of the market. However, consumers’ negative perception related to nutritional content in microwavable foods may restrain the market growth. Advancements in freezing technologies and presence of large number of fast food outlets in emerging economies are expected to provide lucrative opportunities for the market players.
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The global microwavable foods market is segmented based on product, packaging technology, and geography. Based on product, the market is divided into shelf stable microwavable food, chilled food, and frozen food. On the basis of packaging technology, it is categorized into patterned susceptors technology, new tray-lidding methods, and new cook bag technique. Based on geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Major Key Players:
Bellisio Foods Inc.
Hormel Foods Corporation
Gunnar Dafg?rd AB
Frosta AG
Freiberger Lebensmittel GmbH & Co KG
Cargill Incorporated
Tyson Foods
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