This Global Convenience Foods market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Global Convenience Foods market.
The convenience foods market is driven by busy lifestyles and ageing population. It includes a range of processed foods that has longer shelf life and are easy to use. The major attributes that consumers look for in convenience foods are ease of use, packaging, nutritional value, safety, variety and product appeal. These are prepared by adding various preservatives at specific conditions and few of them need an efficient supply chain and storage to retain their properties. Convenience foods save time and energy for preparing food at home or hotels. Technology and innovative packaging options have widened the food choices that are available in the market in various categories such as frozen, chilled, packaged foods, etc.
The market has been segmented by type as canned foods, frozen foods, ready-to-eat snacks, meals, chilled foods and others. The market can also be segmented on the basis of distribution channels into supermarkets and hypermarkets, departmental stores, mom-and-pop shops, convenience stores and others. Geographically, the market can be segmented into Asia-Pacific, North America (the U.S., Canada and Mexico), Western Europe, Eastern Europe, Middle East & North Africa and RoW (Rest of the World, including Latin America and South Africa).
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
The U.S. is the largest market for convenience foods in the world and the emerging markets of Asia-Pacific, Middle East and Latin America would fuel the future growth of the same. The U.S. will remain a strategic market for convenience food processors in the forecast period due to declining trend towards away-from-home dining and at-home cooking. There is a rising demand for meal solutions/ready-to-eat meals that can be prepared in two-step cooking. For instance, in December 2013, ConAgra Foods launched 23 new varieties of quality meals and desserts in Bertolli and P.F. Chang’s brands to enhance consumers’ at-home dining experience with convenience. In addition, consumers are looking for meals with foraged, hyper-local ingredients with different flavours and blends such as mushrooms, nettles, blackberries, rose hips, seaweeds, truffles, etc.
The global convenience foods market is expected to grow at a healthy CAGR from 2014–2020. Some of the emerging markets may even experience a double-digit growth rate through the forecast period in significant categories.
Large multinational corporations follow multiple strategies to develop and penetrate the market for convenience foods in different regions. However, providing products that match local consumer taste is of utmost importance. Pricing is another important factor for convenience foods, however nowadays, consumers are ready to pay a premium price if they get to buy quality convenience foods with health benefits. Some of the common strategies that companies have adopted in recent times are portion controlled packaging, in-store promotions, mergers & acquisitions and health claims in labels. There is a growing trend towards healthy convenience foods that are rich in proteins, functional fibres, vitamins, probiotics and omega-3 fatty acid. For this, many market leaders are integrating their operations by acquiring ingredient manufacturers to increase their technical know-how. Availability of customized food ingredients has become a boon for convenience food manufacturers as they can provide large varieties in each category.
Some of the key companies manufacturing and distributing convenience foods are Amy's Kitchen, Inc., Cargill, Incorporated, ConAgra Foods, Inc., General Mills, Inc., Tyson Foods, Inc., Mondel?z International, Inc. and Kraft Foods Group Inc.
This research report presents a comprehensive assessment of the convenience foods market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data and projections with suitable set of assumptions and methodology. It provides analysis and information by categories such as type, distribution channels and geographies.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. It provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Report covers exhaustive analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition and Companies Involved
- Value Chain
Regional analysis includes
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East & North Africa
- Rest of the World
- Detailed overview of parent market
- Changing market dynamics of the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
- Must-have information for market players to sustain and enhance their market footprint
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What will you discover from Global Convenience Foods Market report?
- The current and future market size, covering each aspect and nuanced trends across key national and geographic markets
- An overview of the market report, providing an imperative visual of the varied market subdivisions and overall forecast statistics in terms of value and volume
- Extensive database and key dynamics elevating the market with varied verticals associated
- Underlying Global Convenience Foods Market forces that are compelling consumers or businesses to purchase the product
- How novel technologies and consumer-centric innovations will create new value-adding opportunities for companies active in the Global Convenience Foods Market
- What will be environment and regulatory impacts on the market over the next decade
Which framework has been used to develop the Global Convenience Foods Market report?
- Investment Feasibility Matrix - It shows returns on investment, level of competition, success rate of investment, and potential risks associated with the market. The analysis shows that the competition is high in the established market, while the returns for short-term investment are also taken into consideration
- Relative Maturity Mapping – The relative maturity is measured according to three growth phases (growth, maturity, decline)
- Relative PLC (Product Life Cycle) – Analysis of the emergence of prominent players and competitive test prices which are driving factors behind every market. (expected market behavior, observed market behavior, expected market performance, observed market performance)