31 December 2019 - Global Convenience
Foods Market is anticipated to
witness an exponential growth in the forecast period. Convenience food, also
known as “Tertiary Processed Food”, is commercially prepared and frequently
through processing to improve ease of consumption. Such food is typically
prepared to eat without further preparation.
The
factors that propel the growth of the convenience foods market include busy
lifestyles and ageing population, technological innovation, rising disposable
income, increasing demand for freshly prepared food, emerging economies,
changing eating habitat, high demand of packaged ready-to-eat snacks such as
bakery products, potato fries and meat products, and rapid development of the
foodservice industry.
On
the other hand, there are factors that may hamper the growth of the market
including lack of appropriate storage and logistics is a threat to the chilled
and frozen category of convenience foods in emerging countries, and strict
rules and regulations on manufacturing and labelling of convenience foods in
both emerging and established nations. Convenience food market is anticipated
to expand at a significant CAGR in the upcoming period as the scope, product
types, and its applications are increasing across the globe.
Market
could be explored by type, product type, distribution channel and geography.
Market could be explored by type as frozen foods, canned foods, ready-to-eat
snacks, chilled foods, meals, and others.
Based
on product type, the market could span candy; beverages (juices, soft drinks
and milk; fruits and vegetables, nuts, in preserved or fresh states); processed
meats and cheeses; and canned products (pasta dishes and soups), chips, pizza,
cookies and pretzels. The market could be explored based on distribution
channel as convenience stores, supermarkets and hypermarkets, mom-and-pop shops,
departmental stores and others.
North
America accounted for the major share of the convenience foods industry in 2017
and will continue to lead in the forecast period. The factors that could be
attributed to the growth include declining trend towards at-home cooking and
away-from-home dining and increasing demand for ready-to-eat meals/meal
solutions that can be prepared in two-step cooking. North America is followed
by Asia-Pacific region. Some of the key players that fuel the growth of the
convenience foods market comprise Cargill, Amy's Kitchen, Inc., Incorporated,
General Mills, Inc., ConAgra Foods, Inc., Tyson Foods, Inc., Kraft Foods Group
Inc, and Mondelz International, Inc.
ConAgra
Foods launched 23 new varieties of quality desserts and meals in P.F. Chang's
and Bertolli brands to improve consumers' at-home dining experience with
suitability. Furthermore, consumers are looking for meals with foraged,
hyper-local constituents with different flavors and blends such as nettles,
mushrooms, blackberries, rose hips, truffles, seaweeds, etc. The leading
companies are taking up partnerships, mergers and acquisitions, and joint
ventures in order to boost the inorganic growth of the industry.
Market Segment:
Geographically, this report is segmented
into several key Regions, with production, consumption, revenue (million USD),
market share and growth rate of Convenience Foods in these regions, from 2012
to 2023 (forecast), covering
•
North America (United States, Canada and Mexico)
•
Europe (Germany, France, UK, Russia and Italy)
•
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
•
South America (Brazil, Argentina, Columbia)
•
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Global Convenience Foods market competition
by top manufacturers, with production, price, revenue (value) and market share
for each manufacturer; the top players including
•
Amy's Kitchen
•
Cargill
•
Incorporated
•
ConAgra Foods
•
General Mills
•
Tyson Foods
•
Mondelez International
•
Kraft Foods Group
Comments
Post a Comment