According to Markntel Advisors Report, Convenience Food Market is expected to grow at a significant growth rate, and the analysis period is 2024-2030, considering the base year as 2023. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

Convenience foods are pre-packaged and readily available for consumption, providing a quick and easy alternative to cooking. The appeal of convenience food lies in the fact that it caters to individuals lacking culinary abilities or who face time constraints due to busy work schedules.

 

Convenience Food Market Research Report & Summary:

The Global Convenience Food Market size was valued at around USD 528 billion in 2023 and is expected to reach around USD 852.6 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 7.45% during the forecast period, i.e. 2024-2030.                     

Time Period Captured in the Report:

• Historical Years: 2019-2022
• Base Years: 2023
• Forecast Years: 2024-2030

Who are the Key Players Operating in the Convenience Food Market?

The top companies of the Convenience Food Market ruling the industry are: 

Ajinomoto Co., Inc., Amy’s Kitchen, Inc., Cargill, Incorporated, General Mills Inc., McCain Foods Limited, MTR Foods Pvt. Ltd. (Orkla ASA), Nestlé SA, Tyson Foods Inc., Associated British Foods Plc, Grupo Bimbo, JBS Foods, Europastry S.A., Bakkavor Group Plc, Mosaic Foods, Mondelz International, Inc., Kraft Heinz, and others

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What is included in Convenience Food Market Segmentation?

The Convenience Food Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

• By Type
  • Ready-to-Eat Food- Market Size & Forecast 2019-2030, (USD Million)
  • Chilled Food- Market Size & Forecast 2019-2030, (USD Million)
  • Canned Food- Market Size & Forecast 2019-2030, (USD Million)
  • Frozen Food- Market Size & Forecast 2019-2030, (USD Million)
  • Others (Beverages, Ready-to-Cook Food, etc.)- Market Size & Forecast 2019-2030, (USD Million)
• By Product
  • Meat/Poultry Products- Market Size & Forecast 2019-2030, (USD Million)
  • Cereal-based Products- Market Size & Forecast 2019-2030, (USD Million)
  • Vegetable/Fruit-based Products- Market Size & Forecast 2019-2030, (USD Million)
  • Others (Dairy-based, Fish and Seafood, etc.)- Market Size & Forecast 2019-2030, (USD Million)
• By Distribution Channel
  • Offline Retail- Market Size & Forecast 2019-2030, (USD Million)
    • Supermarkets/Hypermarkets- Market Size & Forecast 2019-2030, (USD Million)
    • Departmental Stores- Market Size & Forecast 2019-2030, (USD Million)
    • Specialty Stores- Market Size & Forecast 2019-2030, (USD Million)
    • Convenience Stores- Market Size & Forecast 2019-2030, (USD Million)
    • Others (Mom & Pop Shops, Discount Stores, etc.)- Market Size & Forecast 2019-2030, (USD Million)
  • Online Retail- Market Size & Forecast 2019-2030, (USD Million)
• By Region
  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

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Global Convenience Food Market Driver:

Rapidly Changing Consumer Lifestyles Driving Inclination Toward Frozen Food & Beverages – There has been a rapid growth in the demand for frozen food and beverages, which is significantly fueling the expansion of the convenience food industry. This synergy has been attributed to numerous key factors. The frozen food and beverage sector is experiencing higher demand due to changing buyers’ preferences & lifestyles. They provide the dual benefits of ease of instruction and prolonged shelf existence, catering to the demands of time-strapped consumers. Additionally, frozen foods align seamlessly with these trends, providing convenient, ready-to-eat, or easy-to-prepare meal options. They offer a practical solution for individuals and families seeking quick, hassle-free dining choices in the packaged food segment, which has further boosted their demand.

Further, several health-conscious consumers are also contributing to this market growth, seeking out packaged options that provide nutritional value rather than fast food choices. This increasing preference for frozen & packaged foods and beverages is driving substantial growth in the market, encouraging companies to innovate and expand their product offerings to meet diverse consumer needs. For instance,

• In 2024, Nestle announced its plans to launch a new frozen food range, i.e., Vital Pursuit, which would be designed specifically for consumers relying on GLP-1 medications like Wegovy, Ozempic, etc.

Furthermore, the packaged food industry’s robust distribution networks and marketing strategies make it easier for frozen food products to reach a broader consumer base. These efforts have been driving the market growth of frozen convenience food items, which is anticipated to improve in the upcoming years as well.

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