Convenience Food Market

Any food item that can be quickly, easily, and conveniently prepared while reducing the amount of time needed for prep, cooking, and cleanup is referred to as a convenience food. To accommodate customer preferences, the convenience foods might be offered in ready-to-eat or ready-to-cook formats. Convenience food items are great for persons with busy schedules because they are portable, easy to store, and frequently have a long shelf life. The convenience food industry is growing quickly on a global scale. Global Convenience Food Market Sales is expected to grow at a compound annual growth rate (CAGR) of 6.13% from 2024 to 2032, from USD 511.57 Billion in 2024 to US$ 873.87 Billion.

Type- Global Convenience Food Market is divided into 2 viewpoints:

1. Ready-to-eat
2. Frozen food

Distribution Channel – Global Convenience Food Market is divided into 4 viewpoints:

1. Supermarkets & Hypermarkets
2. Convenience Stores
3. Online Retail
4. Others

Growth drivers of convenience food industry

Changing lifestyle and hectic schedules

The fast-paced nature of modern living and shifting lifestyles have been key drivers of the market. People are becoming busy in their everyday lives and have less time to prepare meals, thus there is a growing need for quick and easy food options. Convenience foods provide ready-to-eat or simple-to-prepare meals that save consumers time and effort, thereby providing a solution to this dilemma. It's difficult for modern customers to dedicate hours to cooking because they frequently have to balance work, family, and social obligations. Given the prevalence of long commutes and hard employment in urban regions, this trend is especially noticeable there. Convenience foods have therefore become commonplace in many homes, satisfying the demand for easy and quick meals.

The growing demand for immediate food is anticipated to fuel market expansion.

Convenience food products are becoming more and more popular as consumers seek for frozen snack options, ready-to-eat cereals, and quick breakfast options. Because major industry players are concentrating more on convenience food market research to develop cutting-edge food products, the market is growing.

Nestlé wants to raise sales of its healthier products by CHF 20–25 billion by 2030. This suggests an almost 50% rise in sales over 2022. Nestlé, a company that advocates for "Good food, Good life," is making greater efforts to help customers maintain a balanced diet. Convenience food products' simple accessibility is a key trend propelling the market's growth. These food items are becoming more readily available in stores and supermarkets. As a result of their expanding availability and the emergence of internet retailers who specialize in selling convenience food items, consumer demand has increased and the convenience food sector has grown internationally.

Countries– Convenience Food Industry is divided into 25 viewpoints:

North America                  

• United States
• Canada

Europe                                

• France
• Germany
• Italy
• Spain
• United Kingdom
• Belgium
• Netherland
• Turkey

Asia Pacific                                        

• China
• Japan
• India
• Australia
• South Korea
• Thailand
• Malaysia
• Indonesia
• New Zealand

Latin America                                   

• Brazil
• Mexico
• Argentina

Middle East & Africa                                      

• South Africa
• Saudi Arabia
• UAE

what do different generations want from convenience foods?

• Gen Z, also known as Generation Z, is a group of young people who were born well into the twenty-first century and who, in contrast to Millennials, prefer in-person buying over online purchasing. They are picky, though, and they prefer food that is portable and comes in appealing packaging.

• Millennials, also known as Generation Y, are consumers who were born in the final two decades of the 20th century and are particularly concerned about packaging's effects on the environment and its recyclability. Because they like wholesome meals that are portable, they are also the ideal convenience food customers.

• Seniors: Despite being older and typically preferring traditional foods, elderly individuals are also looking for meals that take less preparation, such mixing pre-portioned components or merely reheating them. They also favor easily opened tiny packs.

All companies have been covered from 3 viewpoints:

• Overview
• Recent Development & Strategies
• Revenue Analysis

Company Insights:

1. General Mills Inc.
2. Conagra Brands
3. Nestlé S.A.
4. Hormel Foods
5. Unilever PLC
6. The Kraft Heinz Company
7. Nomad Foods Ltd
8. B&G Foods, Inc.