Microwavable Foods Market size is 114.52 billion in 2019, growing at a CAGR of 4.6% during the forecast period 2020-2025. Rising disposable income, urbanization and the demand for western style diets are supporting the growth in Microwavable Foods Market during the forecast period 2020-2025. In addition, cooking with microwave oven is highly convenient, as it is simple and fast. Increasing population and the fast moving lifestyle of individuals have forced them to adapt to microwavable foods replacing traditional cooking methods. Furthermore, microwave cooking has gained considerable importance as an energy-saving, convenient, and time-saving cooking method. Moreover, the World Health Organization stated that when used according to manufactures instruction, microwave ovens are safe and convenient for heating and cooking a variety of foods.Key Takeaways
The growing number of working women and the rise in nuclear families is increasing the demand for shelf-stable microwavable food, frozen food, and chilled food.
By technology, the Patterned Susceptors held the dominant share in 2019 owing to advanced packaging technology leading to browning and crispness of food items
By product, the frozen microwavable food is the fastest growing with a CAGR of 3.8% during the forecast period 2020-2025.
In 2019, Europe dominated the Microwavable Foods Market owing to its technological developments and growing innovations attracting large consumers.
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Geography- Segment Analysis
Europe accounts for 37% of the Microwavable Foods Market share in 2019. Technological advancement along with the growing innovation leading to better packaging technology of microwave food items attracts consumers and drives the microwavable foods market. Furthermore, the growth is driven by the rising demand for convenience food products that save customers time and effort. Owing to these benefits of the microwavable foods market, there is an upsurge in the demands of these products and the market is estimated to witness significant growth during the forecast period 2020-2025.
Drivers –Microwavable Foods Market
Increasing Demand for easy-to-prepare and processed foods
Technology innovation in microwave packaging
Microwavable Foods Market top 10 companies are Ajinomoto Co, Inc, Campbell Soup Company, Conagra Brands, Inc, General Mills, Inc, Kellogg Company, Mccain Food Limited, Nestle S A, Pinnacle Food Inc, The Kraft Heinz Company, Unilever Plc and others.
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