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. 

Global Convenience Food Market 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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Market Dimensions & Projections

·        Pricing Evaluation

·        Recent Strategic Moves by Companies

·        Primary Stakeholders

·        Import/Export Trend Analysis

·        Competitive Landscape Assessment

·        Emerging Opportunities

·        Market Trends and Indicators

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Global Convenience Food Market Market Segmentation:

The market report categorizes the market based on different segments and geographical analysis.

Study Timeline:

-Base Year: 2023

-Historical Period: 2019 to 2022

-Forecast Period: 2024 to 2030

• 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

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including -  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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