PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1530843
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1530843
Convenience Food Market Forecasts to 2030 - Global Analysis By Product Type (Meat/Poultry Products, Cereal Based Products, Vegetables Based Products and Other Product Types), Type, Distribution Channel and by Geography
According to Stratistics MRC, the Global Convenience Food Market is accounted for $705.34 million in 2024 and is expected to reach $1196.01 million by 2030 growing at a CAGR of 9.2% during the forecast period. Pre-packaged or prepared meals and snacks that are intended for rapid and simple consumption are referred to as convenience food. Because they are frequently processed and need little preparation, these products are perfect for time-pressed people. Moreover, they save time and effort in the kitchen, but people should be aware of their nutritional value because some may be heavy in fats, sodium, and preservatives.
According to the American Heart Association, incorporating a balanced diet rich in fruits, vegetables, and whole grains is crucial for maintaining cardiovascular health and preventing chronic diseases.
Market Dynamics:
Driver:
Raising spendable income
Growing disposable incomes allow consumers in wealthy areas to spend more on high-quality convenience food options. These goods frequently feature premium ingredients, gourmet flavors, and specialized items designed to satisfy particular dietary requirements. Additionally, with more disposable income at their disposal, consumers are more inclined to spend it on convenience foods that improve their overall dining experience by providing a higher level of perceived value or convenience.
Restraint:
Health issues with nutrition
Convenience foods are often criticized for having excessive amounts of sodium, bad fats, and preservatives, all of which can lead to a number of health problems, including obesity, heart disease, and hypertension. Convenience foods are perceived as having lower nutritional value, which can discourage health-conscious consumers from purchasing them, even though there is an expanding selection of healthier options. Furthermore, the growing awareness and scrutiny of ingredient lists and nutritional labels, which encourages consumers to look for fresher, less processed options, exacerbates this worry.
Opportunity:
Increase in items concerning health
Convenience food producers have a great chance to diversify their product lines with healthier options as consumers grow more health-conscious. Low-calorie, low-sodium, high-fiber, organic, and gluten-free goods fall under this category. Moreover, businesses can satisfy health-conscious customers and capitalize on the expanding market for well-balanced and nutritious convenience foods by addressing nutritional concerns and providing transparent ingredient lists.
Threat:
Trends in health and nutrition
Convenience food sales are under threat from consumers growing awareness of and preference for fresh, whole foods over processed alternatives. A growing number of consumers are aware of the possible health hazards linked to highly processed foods, including elevated sodium levels, unhealthy fats, and artificial additives. Additionally, customers may become less interested in traditional convenience foods as a result of this shift toward clean eating and whole foods and instead look for healthier options.
Covid-19 Impact:
The COVID-19 pandemic had a significant effect on the convenience food industry, driving up its growth as people looked for quick and simple meal options in the face of lockdowns and social distancing protocols. Convenience food sales rose as a result of consumers prioritizing safety and convenience over eating out or cooking large meals, which in turn led to a spike in demand for shelf-stable and ready-to-eat products. Furthermore, the pandemic caused a huge shift in consumer behavior toward online grocery shopping and home delivery services, which in turn forced convenience food companies to improve their online presence and logistical tools.
The Meat/Poultry Products segment is expected to be the largest during the forecast period
The meat/poultry products segment usually has the largest share in the convenience food market. This is because there is a growing market for meat options that are ready to eat or simple to prepare, like packaged poultry, frozen dinners, and pre-cooked meats. These products are frequently chosen by customers due to their time-saving and convenient features. Moreover, the widespread appeal of meat and poultry in a variety of cuisines as well as their incorporation into a wide range of prepared meals and snacks contribute to the segment's popularity.
The Ready-To-Eat Snacks segment is expected to have the highest CAGR during the forecast period
The Ready-to-Eat Snacks segment in the convenience food market is projected to grow at the highest CAGR. Due to shifting lifestyles, a rise in the need for solutions that can be used on the go, and an increasing emphasis on convenience without sacrificing flavor, this market has experienced tremendous growth. A growing number of consumers are searching for tasty, convenient, and nutrient-dense snack options that don't interfere with their hectic schedules. Additionally, innovations in product offerings, packaging, and flavors that satisfy a variety of dietary requirements and preferences are what are driving this trend.
Region with largest share:
The North American region holds the largest share of the convenience food market. Due to fast-paced lifestyles and a well-established infrastructure for food production and distribution, there is a strong demand for convenient food options, which is what is driving this dominance. The area is advantaged by cutting-edge technology, creative product offerings, and robust consumer spending power. The strong inclination of North American consumers toward processed and ready-to-eat foods also contributes to the market's expansion in this area.
Region with highest CAGR:
With the highest CAGR, the convenience food market is expanding significantly in the Latin American region. This growth is driven by rising levels of urbanization, rising disposable incomes, and a rising consumer preference for quick and easy meal options. Ready-to-eat and simple-to-prepare food options are becoming more and more popular as more people move into cities and lead busier lifestyles. Moreover, the innovative convenience food products that are adapted to local tastes and the expansion of distribution networks are other factors contributing to the market's explosive growth in the area.
Key players in the market
Some of the key players in Convenience Food market include General Mills Inc., Nestle SA, Tyson Foods Inc, Associated British Foods plc, JBS Foods, Cargill Incorporated, Ajinomoto Co. Inc., MTR Foods Pvt. Ltd., WH Group Limited., Bakkavor Group plc, Kraft Foods Group Inc., McCain Foods Ltd, Amy's Kitchen Inc., Conagra Brands Inc., Mondelez International Inc. and Vandemoortele N.V.
Key Developments:
In July 2024, Tyson Foods, Inc. has entered into an agreement to sell its Vienna, Georgia poultry complex to House of Raeford Farms. Tyson Foods' decision to sell the complex is part of its continued efforts to optimize its plant network, and the company will continue to service customer orders from other production locations.
In March 2024, JBS USA Food Company and Tyson Foods reached a combined $127.3 million settlement with a group of current and former employees who alleged in a 2022 lawsuit the companies conspired to suppress wages, according to a motion filed in a federal court.
In February 2024, Nestle, in a move to streamline its operations, has entered into a slump sale agreement for its Nestle Business Services (NBS) Division with Purina PetCare India, a wholly-owned subsidiary of Nestle S.A. The deal, valued at ₹798 million, is set to be effective from July 1, 2024, subject to customary closing conditions.
Product Types Covered:
- Meat/Poultry Products
- Cereal Based Products
- Vegetables Based Products
- Other Product Types
Types Covered:
- Frozen Foods
- Canned Foods
- Raw Foods
- Ready-To-Eat Snacks
- Ready to Cook
- Other Types
Distribution Channels Covered:
- Supermarkets/Hypermarkets
- Departmental Stores
- Mom & Pop Shops
- Convenience Stores
- Online Retail
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Product Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Convenience Food Market, By Product Type
- 5.1 Introduction
- 5.2 Meat/Poultry Products
- 5.3 Cereal Based Products
- 5.4 Vegetables Based Products
- 5.5 Other Product Types
6 Global Convenience Food Market, By Type
- 6.1 Introduction
- 6.2 Frozen Foods
- 6.3 Canned Foods
- 6.4 Raw Foods
- 6.5 Ready-To-Eat Snacks
- 6.6 Ready to Cook
- 6.7 Other Types
7 Global Convenience Food Market, By Distribution Channel
- 7.1 Introduction
- 7.2 Supermarkets/Hypermarkets
- 7.3 Departmental Stores
- 7.4 Mom & Pop Shops
- 7.5 Convenience Stores
- 7.6 Online Retail
8 Global Convenience Food Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 General Mills Inc.
- 10.2 Nestle SA
- 10.3 Tyson Foods Inc
- 10.4 Associated British Foods plc
- 10.5 JBS Foods
- 10.6 Cargill Incorporated
- 10.7 Ajinomoto Co. Inc.
- 10.8 MTR Foods Pvt. Ltd.
- 10.9 WH Group Limited.
- 10.10 Bakkavor Group plc
- 10.11 Kraft Foods Group Inc.
- 10.12 McCain Foods Ltd
- 10.13 Amy's Kitchen Inc.
- 10.14 Conagra Brands Inc.
- 10.15 Mondelez International Inc.
- 10.16 Vandemoortele N.V.
List of Tables
- Table 1 Global Convenience Food Market Outlook, By Region (2022-2030) ($MN)
- Table 2 Global Convenience Food Market Outlook, By Product Type (2022-2030) ($MN)
- Table 3 Global Convenience Food Market Outlook, By Meat/Poultry Products (2022-2030) ($MN)
- Table 4 Global Convenience Food Market Outlook, By Cereal Based Products (2022-2030) ($MN)
- Table 5 Global Convenience Food Market Outlook, By Vegetables Based Products (2022-2030) ($MN)
- Table 6 Global Convenience Food Market Outlook, By Other Product Types (2022-2030) ($MN)
- Table 7 Global Convenience Food Market Outlook, By Type (2022-2030) ($MN)
- Table 8 Global Convenience Food Market Outlook, By Frozen Foods (2022-2030) ($MN)
- Table 9 Global Convenience Food Market Outlook, By Canned Foods (2022-2030) ($MN)
- Table 10 Global Convenience Food Market Outlook, By Raw Foods (2022-2030) ($MN)
- Table 11 Global Convenience Food Market Outlook, By Ready-To-Eat Snacks (2022-2030) ($MN)
- Table 12 Global Convenience Food Market Outlook, By Ready to Cook (2022-2030) ($MN)
- Table 13 Global Convenience Food Market Outlook, By Other Types (2022-2030) ($MN)
- Table 14 Global Convenience Food Market Outlook, By Distribution Channel (2022-2030) ($MN)
- Table 15 Global Convenience Food Market Outlook, By Supermarkets/Hypermarkets (2022-2030) ($MN)
- Table 16 Global Convenience Food Market Outlook, By Departmental Stores (2022-2030) ($MN)
- Table 17 Global Convenience Food Market Outlook, By Mom & Pop Shops (2022-2030) ($MN)
- Table 18 Global Convenience Food Market Outlook, By Convenience Stores (2022-2030) ($MN)
- Table 19 Global Convenience Food Market Outlook, By Online Retail (2022-2030) ($MN)
- Table 20 North America Convenience Food Market Outlook, By Country (2022-2030) ($MN)
- Table 21 North America Convenience Food Market Outlook, By Product Type (2022-2030) ($MN)
- Table 22 North America Convenience Food Market Outlook, By Meat/Poultry Products (2022-2030) ($MN)
- Table 23 North America Convenience Food Market Outlook, By Cereal Based Products (2022-2030) ($MN)
- Table 24 North America Convenience Food Market Outlook, By Vegetables Based Products (2022-2030) ($MN)
- Table 25 North America Convenience Food Market Outlook, By Other Product Types (2022-2030) ($MN)
- Table 26 North America Convenience Food Market Outlook, By Type (2022-2030) ($MN)
- Table 27 North America Convenience Food Market Outlook, By Frozen Foods (2022-2030) ($MN)
- Table 28 North America Convenience Food Market Outlook, By Canned Foods (2022-2030) ($MN)
- Table 29 North America Convenience Food Market Outlook, By Raw Foods (2022-2030) ($MN)
- Table 30 North America Convenience Food Market Outlook, By Ready-To-Eat Snacks (2022-2030) ($MN)
- Table 31 North America Convenience Food Market Outlook, By Ready to Cook (2022-2030) ($MN)
- Table 32 North America Convenience Food Market Outlook, By Other Types (2022-2030) ($MN)
- Table 33 North America Convenience Food Market Outlook, By Distribution Channel (2022-2030) ($MN)
- Table 34 North America Convenience Food Market Outlook, By Supermarkets/Hypermarkets (2022-2030) ($MN)
- Table 35 North America Convenience Food Market Outlook, By Departmental Stores (2022-2030) ($MN)
- Table 36 North America Convenience Food Market Outlook, By Mom & Pop Shops (2022-2030) ($MN)
- Table 37 North America Convenience Food Market Outlook, By Convenience Stores (2022-2030) ($MN)
- Table 38 North America Convenience Food Market Outlook, By Online Retail (2022-2030) ($MN)
- Table 39 Europe Convenience Food Market Outlook, By Country (2022-2030) ($MN)
- Table 40 Europe Convenience Food Market Outlook, By Product Type (2022-2030) ($MN)
- Table 41 Europe Convenience Food Market Outlook, By Meat/Poultry Products (2022-2030) ($MN)
- Table 42 Europe Convenience Food Market Outlook, By Cereal Based Products (2022-2030) ($MN)
- Table 43 Europe Convenience Food Market Outlook, By Vegetables Based Products (2022-2030) ($MN)
- Table 44 Europe Convenience Food Market Outlook, By Other Product Types (2022-2030) ($MN)
- Table 45 Europe Convenience Food Market Outlook, By Type (2022-2030) ($MN)
- Table 46 Europe Convenience Food Market Outlook, By Frozen Foods (2022-2030) ($MN)
- Table 47 Europe Convenience Food Market Outlook, By Canned Foods (2022-2030) ($MN)
- Table 48 Europe Convenience Food Market Outlook, By Raw Foods (2022-2030) ($MN)
- Table 49 Europe Convenience Food Market Outlook, By Ready-To-Eat Snacks (2022-2030) ($MN)
- Table 50 Europe Convenience Food Market Outlook, By Ready to Cook (2022-2030) ($MN)
- Table 51 Europe Convenience Food Market Outlook, By Other Types (2022-2030) ($MN)
- Table 52 Europe Convenience Food Market Outlook, By Distribution Channel (2022-2030) ($MN)
- Table 53 Europe Convenience Food Market Outlook, By Supermarkets/Hypermarkets (2022-2030) ($MN)
- Table 54 Europe Convenience Food Market Outlook, By Departmental Stores (2022-2030) ($MN)
- Table 55 Europe Convenience Food Market Outlook, By Mom & Pop Shops (2022-2030) ($MN)
- Table 56 Europe Convenience Food Market Outlook, By Convenience Stores (2022-2030) ($MN)
- Table 57 Europe Convenience Food Market Outlook, By Online Retail (2022-2030) ($MN)
- Table 58 Asia Pacific Convenience Food Market Outlook, By Country (2022-2030) ($MN)
- Table 59 Asia Pacific Convenience Food Market Outlook, By Product Type (2022-2030) ($MN)
- Table 60 Asia Pacific Convenience Food Market Outlook, By Meat/Poultry Products (2022-2030) ($MN)
- Table 61 Asia Pacific Convenience Food Market Outlook, By Cereal Based Products (2022-2030) ($MN)
- Table 62 Asia Pacific Convenience Food Market Outlook, By Vegetables Based Products (2022-2030) ($MN)
- Table 63 Asia Pacific Convenience Food Market Outlook, By Other Product Types (2022-2030) ($MN)
- Table 64 Asia Pacific Convenience Food Market Outlook, By Type (2022-2030) ($MN)
- Table 65 Asia Pacific Convenience Food Market Outlook, By Frozen Foods (2022-2030) ($MN)
- Table 66 Asia Pacific Convenience Food Market Outlook, By Canned Foods (2022-2030) ($MN)
- Table 67 Asia Pacific Convenience Food Market Outlook, By Raw Foods (2022-2030) ($MN)
- Table 68 Asia Pacific Convenience Food Market Outlook, By Ready-To-Eat Snacks (2022-2030) ($MN)
- Table 69 Asia Pacific Convenience Food Market Outlook, By Ready to Cook (2022-2030) ($MN)
- Table 70 Asia Pacific Convenience Food Market Outlook, By Other Types (2022-2030) ($MN)
- Table 71 Asia Pacific Convenience Food Market Outlook, By Distribution Channel (2022-2030) ($MN)
- Table 72 Asia Pacific Convenience Food Market Outlook, By Supermarkets/Hypermarkets (2022-2030) ($MN)
- Table 73 Asia Pacific Convenience Food Market Outlook, By Departmental Stores (2022-2030) ($MN)
- Table 74 Asia Pacific Convenience Food Market Outlook, By Mom & Pop Shops (2022-2030) ($MN)
- Table 75 Asia Pacific Convenience Food Market Outlook, By Convenience Stores (2022-2030) ($MN)
- Table 76 Asia Pacific Convenience Food Market Outlook, By Online Retail (2022-2030) ($MN)
- Table 77 South America Convenience Food Market Outlook, By Country (2022-2030) ($MN)
- Table 78 South America Convenience Food Market Outlook, By Product Type (2022-2030) ($MN)
- Table 79 South America Convenience Food Market Outlook, By Meat/Poultry Products (2022-2030) ($MN)
- Table 80 South America Convenience Food Market Outlook, By Cereal Based Products (2022-2030) ($MN)
- Table 81 South America Convenience Food Market Outlook, By Vegetables Based Products (2022-2030) ($MN)
- Table 82 South America Convenience Food Market Outlook, By Other Product Types (2022-2030) ($MN)
- Table 83 South America Convenience Food Market Outlook, By Type (2022-2030) ($MN)
- Table 84 South America Convenience Food Market Outlook, By Frozen Foods (2022-2030) ($MN)
- Table 85 South America Convenience Food Market Outlook, By Canned Foods (2022-2030) ($MN)
- Table 86 South America Convenience Food Market Outlook, By Raw Foods (2022-2030) ($MN)
- Table 87 South America Convenience Food Market Outlook, By Ready-To-Eat Snacks (2022-2030) ($MN)
- Table 88 South America Convenience Food Market Outlook, By Ready to Cook (2022-2030) ($MN)
- Table 89 South America Convenience Food Market Outlook, By Other Types (2022-2030) ($MN)
- Table 90 South America Convenience Food Market Outlook, By Distribution Channel (2022-2030) ($MN)
- Table 91 South America Convenience Food Market Outlook, By Supermarkets/Hypermarkets (2022-2030) ($MN)
- Table 92 South America Convenience Food Market Outlook, By Departmental Stores (2022-2030) ($MN)
- Table 93 South America Convenience Food Market Outlook, By Mom & Pop Shops (2022-2030) ($MN)
- Table 94 South America Convenience Food Market Outlook, By Convenience Stores (2022-2030) ($MN)
- Table 95 South America Convenience Food Market Outlook, By Online Retail (2022-2030) ($MN)
- Table 96 Middle East & Africa Convenience Food Market Outlook, By Country (2022-2030) ($MN)
- Table 97 Middle East & Africa Convenience Food Market Outlook, By Product Type (2022-2030) ($MN)
- Table 98 Middle East & Africa Convenience Food Market Outlook, By Meat/Poultry Products (2022-2030) ($MN)
- Table 99 Middle East & Africa Convenience Food Market Outlook, By Cereal Based Products (2022-2030) ($MN)
- Table 100 Middle East & Africa Convenience Food Market Outlook, By Vegetables Based Products (2022-2030) ($MN)
- Table 101 Middle East & Africa Convenience Food Market Outlook, By Other Product Types (2022-2030) ($MN)
- Table 102 Middle East & Africa Convenience Food Market Outlook, By Type (2022-2030) ($MN)
- Table 103 Middle East & Africa Convenience Food Market Outlook, By Frozen Foods (2022-2030) ($MN)
- Table 104 Middle East & Africa Convenience Food Market Outlook, By Canned Foods (2022-2030) ($MN)
- Table 105 Middle East & Africa Convenience Food Market Outlook, By Raw Foods (2022-2030) ($MN)
- Table 106 Middle East & Africa Convenience Food Market Outlook, By Ready-To-Eat Snacks (2022-2030) ($MN)
- Table 107 Middle East & Africa Convenience Food Market Outlook, By Ready to Cook (2022-2030) ($MN)
- Table 108 Middle East & Africa Convenience Food Market Outlook, By Other Types (2022-2030) ($MN)
- Table 109 Middle East & Africa Convenience Food Market Outlook, By Distribution Channel (2022-2030) ($MN)
- Table 110 Middle East & Africa Convenience Food Market Outlook, By Supermarkets/Hypermarkets (2022-2030) ($MN)
- Table 111 Middle East & Africa Convenience Food Market Outlook, By Departmental Stores (2022-2030) ($MN)
- Table 112 Middle East & Africa Convenience Food Market Outlook, By Mom & Pop Shops (2022-2030) ($MN)
- Table 113 Middle East & Africa Convenience Food Market Outlook, By Convenience Stores (2022-2030) ($MN)
- Table 114 Middle East & Africa Convenience Food Market Outlook, By Online Retail (2022-2030) ($MN)
