Microwavable Foods Market

Microwavable Foods Market Analysis by Frozen, Chilled, and Shelf-Stable in Patterned Susceptors Technology, New Tray-Lidding Methods, and New Cook Bag Techniques from 2023 to 2033

Analysis of Microwavable Foods Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Microwavable Foods Market Outlook (2023 to 2033)

The global microwavable foods market stands at US$ 148 billion in 2023 , which is estimated to surpass a valuation of US$ 228 billion by the end of 2033. Global demand for microwavable foods is forecasted to increase at a CAGR of 4.4% from 2023 to 2033.

Owing to constantly changing lifestyles and rapid urbanization, market trends are changing at a noticeable speed. In the present fast-paced world, more and more people are looking for ways to accomplish more tasks in lesser time. They are looking for more convenient food solutions, including microwavable foods, which are the replacement for conventionally cooked meals.

Microwavable foods have become the perfect fit for people due to their changing lifestyles and perceptions about the consumption of nutrition-rich foods. Lesser time is required for the preparation of microwavable foods in a standard microwave oven. There are many nutritional benefits associated with microwavable foods and they are devoid of added fats.

Microwavable foods have comparatively longer shelf life than fresh food. Frozen foods are generally dried or pre-treated with heat to kill food-borne microorganisms to extend their shelf life. Microwavable chilled foods are stored at refrigerator temperatures, which can be between 00 C and -50 C.

Microwavable foods include soups, shelf stables, and frozen & chilled meals such as frozen & chilled pizzas, vegetarian meals, seafood, poultry, pork, and beef. Rising demand for convenience food options is a significant factor that is driving the sales of microwavable foods.

Other noticeable factors that are impacting the sales of microwavable foods include the noteworthy growth of nuclear families, rising disposable income, and an increasing number of working women around the world. Moreover, rapid increase in the number of large retail chains and rising standards of living are further contributing to market growth opportunities.

In recent years, fast-food restaurants, which are also addressed as quick service restaurants (QSRs), have been gaining popularity. Emerging economies such as Brazil and India are expected to hold a substantial share of the market as consumers of microwavable foods due to increasing QSR establishments such as Dunkin’s Donuts, Subway, Wendy’s, Burger King, and McDonald’s.

In addition, the large population base of these countries is also expected to drive the demand for microwavable foods over the coming years.

Rapid urbanization and rising disposable income are anticipated to result in an eight-fold growth of QSR chains in emerging economies, which is expected to lead to increased consumption of foods that are microwavable. Thus, growing fast-food restaurants around the world are projected to generate potential opportunities for suppliers of microwavable foods.

Report Attributes

Details

Microwavable Foods Market Size in 2023

US$ 148 Billion

Projected Market Value (2033)

US$ 228 Billion

Anticipated Market Growth Rate (2023 to 2033)

4.4% CAGR

Canada Market Growth Rate (2023 to 2033)

3.4% CAGR

Germany Market Growth Rate (2023 to 2033)

3% CAGR

Key Companies Profiled

  • Ajinomoto Foods North America, Inc.
  • The Kraft Heinz Company
  • Schwan’s Company
  • Bellisio Foods, Inc.
  • Nestle S.A.
  • McCain Foods Limited
  • Hormel Foods Corporation
  • Maple Leaf Foods Inc.

Why is Demand for Microwavable Foods Increasing across Geographies?

“Rising Urbanization and Increasing Trend of Convenience Food”

Microwavable foods require less effort and time to prepare compared to cooking from scratch. In addition, rising consumer inclination toward convenience foods has led to the rising requirement for microwavable foods. The hectic lifestyles of consumers have stimulated the demand for processed foods.

The disposable income of people has been increasing at a faster pace in recent years, which is further resulting in the increasing power of consumer spending. Consumers are spending significantly more on convenience foods, including microwavable foods, which is set to generate lucrative opportunities for players in the market.

Microwavable foods can retain the nutritional value of eatables for a longer duration and can have a longer shelf life compared to fresh meat, vegetables, and fruits. The rapidly rising processed food industry and growing retail digitalization are projected to generate lucrative opportunities for suppliers of microwavable foods over the coming years.

“Growing Working Class Population and Expansion of Convenience Stores”

Sales of microwavable foods by food supply chain companies are increasing significantly; these companies account for a noticeable share of the market revenue.

In addition, an increase in market revenue is also expected with the increasing demand for microwavable ready-to-eat meals by convenience stores. The penetration of the e-Commerce sector is also expected to open up untapped opportunities for market players.

Microwavable foods are gaining popularity across developing nations. Increasing number of people who are working in different sectors in emerging economies such as India are expected to gradually shift to ready-to-eat food from the conventional paradigm of routine cooking.

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Which Barriers are Encountered by Microwavable Food Suppliers?

“Constantly Increasing Demand for Natural and Fresh Food Products”

Nowadays, more people prefer natural and fresh food products owing to rising awareness about healthcare, as microwaves can change the texture and taste of food. Moreover, the increasing requirement for constant temperature monitoring is also projected to limit the adoption of microwavable foods.

The absence of cold chain infrastructure in several developing economies can also act as a barrier to the adoption of microwavable foods during the forecast period.

Microwavable Foods Market Trends and Forecast report by Fact.MR

Which Region is Anticipated to Dominate the Global Market?

“Increasing Awareness about Benefits of Microwavable Foods in Europe”

More people in Europe are gaining awareness about the benefits of microwavable foods that can retain the nutritional content of food items, otherwise lost in conventional preparation and cooking procedures.

In addition, factors such as rapid urbanization and growing regional population are also projected to fuel the demand for microwavable foods in the European region. The COVID-19 pandemic increased the demand for microwavable foods due to the fact that these food items can be prepared and consumed at home easily.

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Country-wise Insights

How is Demand for Microwavable Foods Progressing in Japan?

“Increasing Trend of Ready-to-eat Foods”

Sales of microwavable foods in Japan are estimated to evolve at a CAGR of 2.2% during the forecast period from 2023 to 2033. The rising trend of ready-to-eat food among working-class people is estimated to serve as one of the pivotal factors pushing up the demand for microwavable foods. Moreover, decreased time for preparation and cooking is also serving as an important factor that is increasing the demand for microwavable meals.

Which Aspects are Fueling the Demand for Microwavable Foods in the United States?

“Hectic Lifestyle of Americans Leading to Higher Microwavable Food Sales”

Demand for microwavable foods in the United States was more than US$ 35.5 billion in 2022. This growth in the demand for ready-to-eat food products is attributed to the hectic lifestyle of Americans.

Sales of microwave-ready meals in Canada are expected to expand at a CAGR of 3.4% from 2023 to 2033.

Which Factors are Contributing to Increased Demand for Microwavable Foods in Germany?

“Growing Number of Working Women in the Country”

Germany is a key contributor to the rising sales of microwavable foods in the European region. Increasing production and consumption of microwavable foods owing to hectic lifestyles and the rising count of working women are estimated to stimulate the sales of food products that can be microwaved. Demand for ready-to-eat (RTE) food products in Germany is anticipated to progress at a CAGR of 3% over the decade.

Category-wise Insights

Which Type of Microwavable Food is Highly Popular?

“Frozen Microwavable Foods to Hold Substantial Market Share”

Based on product, the global market is segmented into frozen, chilled, and shelf-stable. Among these, frozen microwavable foods are estimated to hold a leading position in the global market owing to their nutritional benefits and taste, which are similar to fresh food. More consumers around the world are looking for healthier meals that taste better and are easier to cook.

Freezing helps eatables retain their essential nutrients, which are crucial to synthesize different minerals and vitamins in the body. Further, research and operational excellence of market players have resulted in constant improvements in existing microwavable food products.

Which Sales Channel Accounts for High Sales of Microwavable Foods?

“Hypermarkets/Supermarkets to Generate Noteworthy Market Revenue”

Microwavable foods are delivered through four different channels, including hypermarkets/supermarkets, convenience stores, online sales, and others. Among these, hypermarkets/supermarkets are projected to hold a high share of market revenue. They ensure the availability of a wide range of consumer goods under one roof.

Convenient operation timings and provision of ample parking space are some other pivotal factors that are expected to attract more consumers to hypermarkets or supermarkets over the coming years.

Which Technology is Widely Used for the Packaging of Microwavable Foods?

“Patterned Susceptors – Leading Technology in this Space”

Based on packaging technology, the global market is segmented into patterned susceptors technology, new tray-lidding methods, and new cook bag techniques. The evolution of patterned susceptors technology has resulted in a significant breakthrough in the packaging of microwavable food items.

The utilization of susceptors for the packaging of microwavable foods enables the food to reach a high temperature, which increases its crunchiness.

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Competitive landscape highlights only certain players
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Competitive Landscape

Prominent suppliers of microwavable foods are spending a significant amount to support their supply chain management systems. They aim to deliver quality products to consumers. Further, producers of microwavable foods adhere to the set guidelines to reduce negative environmental impacts.

Key manufacturers of microwavable foods are incorporating different strategies including agreements, new developments, etc. to generate lucrative opportunities in the market.

For instance,

  • In 2021, Conagra Brands Inc. launched its summer product line to provide consumers with novel single-serve microwavable meals. Conagra’s mission is to serve nutritious microwavable foods to consumers.
  • In 2020, Lazy Vegan, a Dutch start-up, launched a microwavable ready-to-eat meal named The Green Curry, which is soy-free and gluten-free.

Leading suppliers of microwavable foods include Ajinomoto Foods North America, Inc., The Kraft Heinz Company, Schwan’s Company, Bellisio Foods, Inc., Nestle S.A., McCain Foods Limited, Hormel Foods Corporation, and Maple Leaf Foods Inc.

Segmentation of Microwavable Foods Market Research

  • By Product :

    • Frozen
    • Chilled
    • Shelf-Stable
  • By Packaging Technology :

    • Patterned Susceptors Technology
    • New Tray-Lidding Methods
    • New Cook Bag Techniques
  • By Distribution Channel :

    • Hypermarkets/Supermarkets
    • Convenience Stores
    • Online Sales Channels
    • Others
  • By Region :

    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

- FAQs -

What is the anticipated growth rate for the microwavable foods market?

The global microwavable foods market is anticipated to expand at a CAGR of 4.4% from 2023 to 2033.

What is the expected valuation for the global market by 2033-end?

The market for microwavable foods is expected to reach US$ 228 billion by the end of 2033.

How fast is demand for microwavable foods projected to increase in Germany?

Demand for microwavable foods in Germany is forecasted to increase at a CAGR of 3%.

What is the present size of the microwavable foods market?

The value of the microwavable foods market is US$ 148 billion in 2023.

How big was the United States market in the year 2022?

The microwavable foods market in the United States was valued at US$ 35.5 billion in 2022.

Microwavable Foods Market