Convenience Food Market Growth Outlook 2022:
According to the research report published by Data Intelligence, the global Convenience Food Market is projected to grow at a CAGR of 4.2% over the forecast period 2022-2029.
The rising selection of convenience foods and increasing level of consumer income per annum is the several major factors driving the convenience food market. Other prominent factors such as the increase in the consciousness of health, rising consumer preference, and altering lifestyles will boost the growth rate of the global convenience food market. Additionally, the surge in the funds for the development of the cold chain will probably affect the growth of convenience food.
In the recent situation, the convenience food market demand is growing prominent support from governments initiating the order that only supermarkets and legally registered markets should continue open so that customers’ regular needs can be simply accessed.
The necessity for dinner time solutions by nowadays customers is rising quickly, as meal consumption behavior among consumers is changing drastically. While consumers gradually lack the time and skill to make food in their homes few of the customers are interesting to spend money in the ready-to-eat market, and these elements have surged the demand for the convenience food market.
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Impact of COVID-19 on the Convenience Food Industry:
COVID-19 is another driving factor altering the living style of consumers consuming convenience foods due to maximum countries are mandatory to control movement and lockdown their borders. The necessity for pre-prepared meals is dominant within this period, especially in the United States where the COVID-19 is hammering the country tough.
Regional Share Insights:
Europe continues the major market for convenience foods market, as consumers in the United Kingdom live hectic and busy lifestyles, minimizing their time to prepare food. This living style has made consumers from this European region change to consuming frozen food, canned meals, and dried foods.
Apart from the United Kingdom, countries in Europe and North America are prominent markets for convenience foods. The altering in customer living styles owing to the pandemic will boost the growth of the regions.
Asia Pacific convenience food market is contributing a decent growth rate throughout the forecast period 202 to 2029.
Market segmentation:
By Product Type:
Meat/Poultry Products
Cereal Based Products
Vegetables Based Products
Others
By Packaging:
Frozen Foods
Canned Foods
Chilled Foods
Ready-to-Eat Foods
By Distribution Channel:
Supermarkets/Hypermarkets
Specialty Stores
Convenience Stores
Online Stores
Geographical Classification:
North America
Latin America
Europe
Middle East and Africa
Asia Pacific
Rest of the world
Some of the Major Companies Listed in the Global Market:
Amy’s Kitchen, Inc., Cargill, Incorporated, ConAgra Foods, Inc., General Mills, Inc., Tyson Foods, Inc., Mondelz International, Inc., Kraft Foods Group Inc., WH Group, Unilever, Kelloggs Company, and other major companies listed in the full report.
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