Microwavable Foods Market
Microwavable food can be heated using the conventional microwave oven. It requires very little preparation time. Microwavable meals have become an essential diet of daily life. It includes frozen meals (beef, vegetarian meals, poultry, seafood, etc.), ambient food (shelf stable), and soups. These foods don’t have added fat hence, considered to have nutritional values. Busy life schedule of people living with nuclear families in the metropolitan cities coupled with simple steps of preparations are factors fuelling the growth of microwavable foods market.Technologies such as patterned susceptors technology, new cook bag techniques and new tray-lidding methods are used for packaging.
Factors such as rising disposable income, the rise in standard of living, growing number of large retail and fast food chains, rising urban population, and increase in the number of working women in the corporate industries are driving the global microwavable foods market. Food packaging is very important which ensures that the food remains fresh for cooking, even after a few days. Moreover, busy life schedule and odd work timings of corporate work culture in the metropolitan cities have stipulated the people to opt for ready-to-eat foods. Microwavable foods can help them to fulfill their demand for good and healthy food along with ease of preparation. According to the U.S. Department of Labor in 2013, the total female working in the U.S. is expected to grow at 5.6% by 2024.
The global microwavable foods market is classified based on product, packaging technology, and geography. On the basis of product, the microwavable foods market is divided into shelf-stable microwavable food, frozen food, and chilled food. The frozen food segment dominates the global microwavable foods market owing to heavy demand from the consumers. The consumers always prefers healthier, easy to cook and easy to digest the meal, which is satisfied with frozen microwavable foods. Freezing the food can be helpful in order to keep its essential nutrients.By packaging technology, the microwavable foods market is classified into patterned susceptors technology, new cook bag technique, and new tray-lidding methods.
The microwavable foods market is segmented into North America, South America, Europe, Asia-Pacific and Middle East & Africa. North America and Europe takesthe largest share in the global microwavable foods market. The large share can be attributed to well-established retail food chain infrastructure, rising disposable income and growing number of people working and living in metro cities. Moreover, Asia-Pacific region is expected to grow at highest CAGR in the microwavable foods market. Rising population in metro cities and rising disposable income are some of the major factors driving Asia-Pacific microwavable foods market.
Major players in the microwavable foods market include McCain Foods, Campbell Soup Company, Kellogg Company, ConAgra Foods Inc., General Mills Inc., Kraft Foods Inc., Beech-Nut Nutrition Corporation, Pinnacle Foods Group LLC, Bellisio Foods Inc., and Nestle SA. These players adopt different strategies like the new product launch, geographic expansion, product differentiation, and merger & acquisition, in order to gain the market share and competitive advantage.