Microwaveable Foods Market: Frozen Foods to Remain Leading Contributor, says TMR
The global microwaveable foods market is driven by the compatibility of microwaveable foods with the modern urban lifestyle, according to a new market research study from Transparency Market Research (TMR). The report examines the development history of the microwaveable foods market and provides readers with a solid analysis of the key growth patterns. The current condition of the global microwaveable food market is elaborated upon in detail in the report and provides the basis for reliable forecasts regarding the market’s development in the coming years. The report is titled ‘Microwaveable Foods Market – Global Industry Size, Share, Trends, Analysis And Forecasts 2012 – 2018.’
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Microwaveable foods have gained rising demand in the last few years due to the rising purchasing power of urban consumers. The hectic urban lifestyle leaves most consumers with little time to cook meals in the traditional way, leading to alternatives such as microwaveable food becoming essential. The ease of preparing microwaveable foods, many of which can be microwaved in their original packaging, has thus been vital to the global market and is likely to remain a key driver due to the rising urban population in Asia Pacific countries such as China and India.
The rising number of supermarkets and hypermarkets in the developing world has made it easier for established Western microwaveable food companies to establish a solid sales outlet in high-potential emerging economies in Asia Pacific and Latin America. The easy availability of microwaveable foods on many online shopping portals has also aided their demand.
The rising number of women entering the workforce has also been a vital driver for the global microwaveable foods market. While women have been responsible for cooking according to traditional gender roles, the rising number of working women has created the need to simplify the tasks of the traditional homemaker, as modern couples often share domestic duties. This is likely to remain a key driver for the microwaveable foods market in the coming years.
Geographically, North America and Europe are the key contributors to the global microwaveable foods market. The high disposable income of consumers in these regions and the widespread prevalence of the urban lifestyle are the key drivers for the microwaveable food market in North America.
By product type, the microwaveable foods market is segmented into chilled, frozen, and shelf-stable microwaveable foods. Of these, frozen microwaveable food is the leading contributor to the global microwaveable foods market and is likely to remain so in the coming years due to the convenience of storing frozen microwaveable food in the long term.
The report also examines the competitive dynamics of the global microwaveable foods market by profiling key players such as H.J. Heinz, General Mills Inc., McCain Foods, Campbell Soup Company, Kellogg Company, and Pinnacle Food Group LLC.