Microwavable food is packed food that is ready to eat. Microwavable food is easily available and can be preserved for long period. Several technologies and preservatives are used for the production of packaged microwavable foods. Microwavable foods contain preservatives that store the food for longer time.. Changing lifestyle and attraction towards the junk food has increased the production and sales of microwavable food items.
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In order to give comprehensive view on the microwavable foods market we have included a detailed value chain analysis. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the microwavable foods market has also been included. The study encompasses a market attractiveness analysis, wherein product segments are benchmarked based on their market size, growth rate and general attractiveness. The report also analyzes several driving and restraining factors and their impact on the market during the forecast period.
Increase in working women population along with shift in lifestyle and easy availability of number of microwavable foods acts as major driving factors for the microwavable foods market. Moreover, rising adoption for convenience food is expected to trigger the growth of microwavable food market in future. However, growing awareness about the adverse effect of microwavable foods among the consumers may slow down the growth of this market. Nevertheless, ongoing research based on nutritional microwavable packaged food for infants is likely to open new avenues for the microwavable food market in the years to come.
On the basis of type, the microwavable foods market can be segmented as chilled microwavable foods, shelf stable microwavable foods and frozen microwavable foods. Frozen microwavable foods are the leading segment and expected to remain the largest market segment in the coming years. This growth is attributed to huge utilization of frozen microwavable foods in developed and developing economies owing to innovative techniques and procedures used for preservation of frozen foods.
North America and Europe dominated the microwavable foods market owing to dual and high disposable income. U.S. emerged as the potential region due to the advance meal solutions and reluctance of consumers to cook fresh meals on a daily basis. Asia Pacific is expected to witness fastest growth due to increasing number of working women and rising attraction towards the frozen food. Middle East and Africa is likely to experience sluggish growth due to low discretional income and lack of introduction of microwavable food items in these regions.
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Campbell Soup Company, General Mills Inc., Beech-Nut Nutrition Corporation, McCain Foods, Kellogg Company, ConAgra Foods Inc., Kraft Foods Inc., Pinnacle Foods Group LLC, Bellisio Foods Inc. and Nestle SA among others are some of the key players in the microwavable foods market.