Convenience Foods Market Top Players, Global Trends, BusinessOpportunities, and Industry Forecast till 2023
“The factors that propel the growth of the convenience foods market include busy lifestyles and ageing population, technological innovation, rising disposable income, increasing demand for freshly prepared food, emerging economies, changing eating habitat, and rapid development of the foodservice industry”
Global convenience foods market is anticipated to witness an exponential growth in the forecast period. Convenience food, also known as “Tertiary Processed Food”, is commercially prepared and frequently through processing to improve ease of consumption. Such food is typically prepared to eat without further preparation. The factors that propel the growth of the convenience foods market include busy lifestyles and ageing population, technological innovation, rising disposable income, increasing demand for freshly prepared food, emerging economies, changing eating habitat, high demand of packaged ready-to-eat snacks such as bakery products, potato fries and meat products, and rapid development of the foodservice industry. On the other hand, there are factors that may hamper the growth of the market including lack of appropriate storage and logistics is a threat to the chilled and frozen category of convenience foods in emerging countries, and strict rules and regulations on manufacturing and labelling of convenience foods in both emerging and established nations. Convenience food market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.