Convenience Foods Market Report 2024 (Global Edition)

Global Convenience Foods Market Report 2024 Market Size Split by Product Type (Meat/Poultry Products, Cereal Based Products, Vegetables Based Products, Others), by Distribution Channel (Supermarkets/H...

Convenience Foods Market Report Description

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Convenience Foods Market Insights Video

Competitive Landscape of Convenience Foods Market

There is intense and varied competition in the convenience foods industry. Because convenience food consumption is rising, major corporations create long-lasting and sustainable food items. Leading manufacturers in the food and beverage business worldwide have devoted a segment to making the goods. Government regulations and policies have aided firms in the quality of their product service offerings, contributing to the whole sector's expansion.

Convenience Foods Industry News:

• January 2022: Cargill established the Cargill Innovation Center in Gurugram, Haryana, to create cutting-edge solutions for industry developments in food and drink. To better understand consumer needs, translate global industry trends into local applications, and speed up client product innovation pipelines, Cargill will collaborate with its F&B customers in India to co-develop wholesome food options.

Top Companies Market Share in Convenience Foods Industry: (In no particular order of Rank)

• Amy’s Kitchen
• Inc.
• Cargill Incorporated
• Conagra Brands
• Inc.
• General Mills
• Inc.
• Tyson Foods
• Inc.
• Mondelz International
• Inc.
• Kraft Foods Group Inc.
• WH Group
• Unilever
• Kelloggs Company
• Vandemoortele N.V.
• Lantmännen Unibake
• Nestlé S.A.
• EUROPASTRY S.A.
• Grupo Bimbo
• JBS Foods
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

The North American Convenience Foods Market Dominates the Largest Share of the Global Market

According to Cognitive Market Research, Asia Pacific dominated the market in 2023 due to the growing investments made by international food corporations in the developing nations in the area. Growing expenditure on food goods results from rising spending capacities brought on by an increase in two-income households; this factor is also anticipated to drive market growth in the region. Convenient food products are becoming more and more desirable and popular across the Asia Pacific due to increased marketing during the forecast period.

The North American region accounted for the fastest portion of the market due to the rising popularity of ready-to-eat foods like breakfast on a hand and frozen pizza. These are marketed as affordable, high-quality, and freshly made goods. Furthermore, these dishes are becoming just as popular as cuisine from restaurants and other food establishments. Similarly, among the categories of ready-to-eat food consumed the most are chilled and frozen ready meals. Because of the continuous improvements and technical breakthroughs in convenience meals, a market increase is anticipated in the region.

The current report Scope analyzes Convenience Foods Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Convenience Foods Market

North America Convenience Foods Market Analysis:

According to Cognitive Market Research, North America ranks second in size. The forecast for the compound annual growth rate is 6.5% because prepared items like frozen pizza and breakfast on hand are becoming more and more popular. These are promoted as freshly created, premium, and reasonably priced products. Moreover, the popularity of these dishes is rising to that of restaurants and other food business cuisines. Moreover, in the North American region, the ready-to-eat convenience foods category is presumed to have the fastest growth in the coming years due to increasing healthy lifestyles, and these ready-to-eat meals require a brief heating period before being served. This market sector is anticipated to develop fastest throughout the forecast period. In conclusion, According to Cognitive Market Research, more people are working, and rapid urbanization is shifting consumer lifestyles and increasing demand for convenience food during the forecast period in this region.

Europe Convenience Foods Market

Europe Convenience Foods Market Analysis:

According to Cognitive Market Research, in 2023, Europe accounted for a share of more than 6.6% of the global revenue because the primary driver of the region's growth is the hectic lifestyles of the local population, which leaves them with little time to cook meals. People in this region are changing their preferences due to this lifestyle, which leads to a rise in the usage of dried, tinned, and frozen items. In addition, frozen foods are predicted to expand at a rapid rate in the European market in the following years because the Foods that are frozen maintain their nutritional value and do not undergo any modifications to their protein, fat, or carbohydrate composition. In conclusion, the convenience foods market in the European region with developing countries such as Germany, France, Italy, Spain, Russia, and the Rest of the European countries will witness healthy growth during the forecast period.

Asia Pacific Convenience Foods Market

Asia Pacific Convenience Foods Market Analysis:

According to Cognitive Market Research, Asia Pacific dominated the market in 2023. The market in Asia Pacific is expected to increase at a CAGR of 8.5% over the next several years. This can be attributed to several factors, including high disposable income, increased urbanization, shifting lifestyles, and growing health consciousness among individuals in this area. Moreover, in the Asia-Pacific region, the meat/poultry foods category is presumed to witness the most significant growth in the coming years because the best protein sources are meat and poultry. They also supply many other vital elements your body requires, including zinc, iron, iodine, vitamins (particularly B12), and essential fatty acids. In conclusion, the Asia-Pacific convenience food is the trend that is transforming the food industry in this area. It is made to assist consumers in preparing and cooking nutritious meals with fresh ingredients, using products presented in attractive packaging that is simple to open and use, and ensuring the products are easy to transport, which fuels the industry's growth during the forecast period.

South America Convenience Foods Market

South America Convenience Foods Market Analysis:

According to Cognitive Market Research, South America dominated the market in 2023, and it is anticipated that convenience foods sales in South America will rise gradually, with a CAGR of 7.7% over the coming years. This is because there are significant market players for convenience foods. The market for convenience foods is predicted to increase more quickly due to rising consumer demand for meals based chiefly on veggies. This is explained by the fact that these products are of a higher quality and are sold for less money. Furthermore, the South American market vegetable foods category is expected to increase in the following years due to the consumption of an abundance of fruits that help lower blood pressure, reduce the risk of cardiac problems and stroke, prevent some cancers, cut the risk of digestive and ocular issues, and improve blood sugar regulation, which can help control appetite. As a whole, the expanding economies of South America, because the consumers' busy lifestyles have shown their support for convenience foods, see its potential economic and social benefits for the convenience foods industry over the next few years.

Middle East and Africa Convenience Foods Market

Middle East and Africa Convenience Foods Market Analysis:

According to Cognitive Market Research, The Middle East and Africa dominated the market in 2023. They accounted for a rising CAGR of 7.8% due to the higher cost of ready-to-eat meals, increased discretionary income, and a rising standard of living, projected to fuel the demand for convenience food further. Because they have lengthy work hours, the expanding millennial generation is following the trend of consuming convenience food, which supports the growth of the convenience foods market in the region. Moreover, the ready-to-eat meals convenience foods category is predicted to expand in the coming years due to women's increasingly lengthy work hours, leading to a rise in the demand for convenience foods. In conclusion, According to Cognitive Market Research, large manufacturers' concentration of convenience foods in the Middle East and Africa will witness substantial expansion during the anticipated time frame.

Convenience Foods Market Analysis

Convenience Foods Product Type Segment Analysis

According to Cognitive Market Research, in 2022, meat/poultry products will have the most significant share of the convenience foods market. Poultry and meat are additional sources of protein. They also supply your body with many other nutrients, including vitamins, vital fatty acids, iron, zinc, and iodine. Therefore, consuming meat and poultry once a week is a good idea as part of a balanced diet. 

Vegetables-based products, such as convenience foods, were the most popular category, accounting for more than 50% of the overall revenue. Consuming lots of fruits and vegetables can lower blood pressure, reduce the chance of cardiac problems and prevent some cancers, cut the risk of digestive and ocular issues, and improve blood sugar regulation, which can help control appetite.

• Meat/Poultry Products
• Cereal Based Products
• Vegetables Based Products
• Others

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Convenience Foods Industry. Request a Free Sample PDF!

Convenience Foods Distribution Channel Segment Analysis

According to Cognitive Market Research, supermarkets/hypermarkets are the most extensive contributors to the convenience foods market because supermarkets have a large assortment of goods, including food, personal hygiene products, cleaning supplies, and more. They provide you with numerous ways to take your groceries home, as well as a large assortment of payment alternatives. The purpose of hypermarkets is to house all the products customers need under one roof. Big box retailers typically have more buying power than shops that sell items in lesser numbers since they offer more significant quantities of merchandise.

Convenience foods for convenience stores rank second most popular segment because convenience stores are a terrific place to find fantastic food at affordable costs because they frequently offer discounts and promotions. Additionally, many provide coupons and fuel savings through loyalty programs, making convenience store meals an outstanding option for consumers on a tight budget.

• Supermarkets/Hypermarkets
• Specialty Stores
• Convenience Stores
• Online Stores
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Convenience Foods Packaging Segment Analysis

The ready-to-eat foods are the convenience foods market's most popular offering. The most excellent substitute for traditional foods suitable for any mealtime is generally considered ready-to-eat food. Most of the money young customers make is spent on easily prepared meals. Giants that provide ready-to-eat food have the best chance of attracting young consumers. The convenience offered by those products contributes to a rise in global customer demand.

According to Cognitive Market Research, frozen foods are the second-most popular product. Foods that are frozen maintain their nutritional value and do not undergo any modifications to their protein, fat, or carbohydrate composition. Because freezing preserves nutrients, frozen foods can have extra vitamins and minerals than their fresh counterparts. This is because fresh foods gradually lose these elements. The level of convenience that items provide helps drive up customer demand worldwide during the forecast period.

• Frozen Foods
• Canned Foods
• Chilled Foods
• Ready-to-Eat Foods
• Others

Author's Detail

Nisha Deore

Research Analyst at Cognitive Market Research

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I am a well-organized, conscientious, and professional Research Analyst with two plus years of experience. In my current role, I conduct in-depth secondary research, data mining, competitive analysis, DRO's, PR, and Collateral writing. Whilst I enjoy working as part of a team, researching information, analyzing data, and producing results that help my organization to achieve its commercial and financial objectives.

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