The global microwavable foods market size was US$ 127,321.9 million in 2021. The global microwavable foods market size is forecast to reach US$ 220,935.7 million by 2030, growing at a compound annual growth rate (CAGR) of 5.7% during the forecast period from 2022 to 2030.

Fast-paced lifestyles have forced individuals to seek more convenient alternatives, such as microwaveable foods, instead of traditionally cooked meals. Microwaveable foods require little preparation and can conveniently cook using a conventional microwave oven. This product line includes shelf-stable, chilled, frozen meals (beef, pork, poultry, seafood, vegetarian meals, frozen and chilled pizza) and soups. Foods like these have nutritional benefits as they do not contain extra fat during their preparation. 

Factors Influencing Market Growth

• There are several factors driving the global market, including the growth of nuclear families, the increase in the number of women working outside the home, a surge in disposable income, the rise in standards of living, and the rapid expansion of large retail chains.
• The growing popularity of fast-food restaurants, also known as quick-service restaurants (QSRs), contributes to the global microwavable foods market growth.
• Increasing health concerns owing to frozen, chilled, and shelf-stable foods and awareness of less nutrition in ready-to-cook food may slow down the overall growth of the global microwaveable foods market.
• A number of microwavable food makers are expanding their R&D activities to advance freezing technology and expanding their fast food outlets in developing economies, which offers lucrative opportunities for the global market for microwavable food.

Impact Analysis of COVID-19

During the COVID-19 pandemic, footfall at retail outlets and grocery stores declined, and consumers stocked up on microwavable food such as frozen food based on concerns about food shortages. Due to the worldwide lockdown, online sales of microwaveable foods have significantly increased. In response to the COVID-19 crisis, many microwavable food companies increased production to meet customer demand. COVID-19, therefore, had a positive impact on the market for microwavable foods, as sales and production rose following the global COVID-19 pandemic in 2020.

Regional Insights

Europe held dominance in the microwavable foods market and is forecast to show significant growth during the forecast period. The rise in working women and hectic lifestyles in Europe has led to impressive growth in the production and consumption of microwavable food. Additionally, as consumers in European countries become more aware of the nutritional quality of frozen microwavable foods, their consumption has increased. 

North America is forecast to lead the microwaveable foods market during the forecast period. Due to the ease of meal preparation, traditional cultures of snacking, and the consumption of ready-to-eat foods, the global microwavable foods market is experiencing growth. 

Leading Competitors

The leading prominent companies profiled in the global microwavable foods market are:

• Ajinomoto Windsor, Incorporated
• Campbell Soup Company
• ConAgra Foods, Incorporated
• General Mills Incorporated
• Kellogg Company
• McCain Foods
• Nestle SA
• Pinnacle Food Incorporated
• The Kraft Heinz Company
• Unilever Plc.
• Other Prominent Players

Scope of the Report

The global microwavable foods market segmentation focuses on Product, Packaging Technology, Distribution Channel, and Region.

Segmentation based on Product

• Shelf Stable Microwavable Food
• Chilled Food
• Frozen Food

Segmentation based on Packaging Technology

• Patterned Susceptors Technology
• New Tray-lidding Methods
• New Cook Bag Technique

Segmentation based on Distribution Channel

• Hypermarkets/Supermarkets
• Convenience Stores
• Online Sales Channel
• Others

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America