Microwavable food is referred to pre-packaged food product which requires less preparation for cooking and speeds up the cooking process. Microwavable foods market is expected to grow significantly in coming years. Major factors driving growth of the global microwavable foods market is increasing population of working women, growth of nuclear families and rising standard of living. In addition, increasing number of retail chains is the other factor expected to fuel the market growth.
The global microwavable foods market report has been segmented on the basis of product, packaging, and region.
On the basis of product, the global microwavable foods market is segmented into shelf stable microwavable food, chilled food and frozen food. The frozen food segment is projected to account for major share in terms of revenue owing to long storage and shelf life. In addition, consumer spending, coupled with high demand for economical meals which can be easily prepared at workplaces.
On the basis of packaging, the global microwavable foods market is segmented into, trays, folding cartons, cups, tubs, and bowls and bags, pouches and sleeves.
On the basis of region, the global microwavable foods market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Currently, the market in North America dominates the global microwavable foods market in terms of revenue. North America have developed in terms of innovative food consumption solutions. The market in Asia Pacific is projected to have fastest growth with highest CAGR, owing to increasing disposable income coupled with changing standard of living leading to changes in the food consumption preferences among consumers.
Key players in the global microwavable foods market include, Ajinomoto Windsor, Inc., Campbell Soup Company., ConAgra Foods, Inc., General Mills Inc., Kellogg Company, McCain Foods, Nestle SA, Pinnacle Food Inc., The Kraft Heinz Company and Unilever Plc.