Global Convenience Food Market: Analysis and Growth Forecast (2024-2032)
The Global Convenience Food Market was valued at US$ 511.57 billion in 2023 and is projected to reach US$ 873.87 billion by 2032, with a CAGR of 6.13% from 2024 to 2032. Convenience foods, or tertiary-processed foods, undergo additional processing to make them ready for consumption. These include pre-cooked, ready-to-eat meals, sandwiches, salads, and quick snacks like cold cuts, cheese, and chocolate bars.
Demand for convenience food is driven by younger generations, particularly Gen Z, who prioritize quality and packaging design. Millennials focus on the environmental impact and health benefits of convenience foods, while seniors prefer traditional dishes in easily accessible, portioned packaging.
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Key Insights on Convenience Food Consumption
- According to the NCBI, snacks make up 22% of the American diet, with 90% of adults consuming at least one snack daily. In 2023, the average snacking frequency was 1.2 to 3.0 times per day.
- Southeast Asia‘s average consumption of convenience food per person in 2023 was 10.47 kg, according to simplplotfoods.com.
- In China, 97% of the population consumes fast foods, with 41% eating fast foods at least once a week.
United States Convenience Food Market Overview
The U.S. Convenience Food Market addresses the needs of busy individuals, offering a wide range of pre-cooked meals, frozen entrees, canned soups, and quick snacks. These products undergo multiple processing stages to extend shelf life, although this can impact their nutritional value. As consumer preferences shift toward healthier options, the market has responded with diverse offerings, driving growth. In 2021, General Mills introduced ready-to-eat cookies under the Pillsbury brand for the first time.
Global Convenience Food Companies
Major players in the global convenience food market include:
- General Mills Inc.
- Conagra Brands
- Nestlé S.A.
- Hormel Foods
- Unilever PLC
- The Kraft Heinz Company
- Nomad Foods Ltd.
- B&G Foods, Inc.
Recent News in the Convenience Food Market
- In February 2024, Sukhi’s Gourmet Indian Foods will launch three new refrigerated entrees: Tamarind-Pulled Chicken, Chicken Chili, and Butter Chicken.
- Catalina Crunch introduced a new Peanut Butter flavor to its Dark Chocolate Cookie Bars line in February 2024.
- BigBasket partnered with chef Sanjeev Kapoor in March 2024 to launch a new frozen meal brand, Precia, which includes frozen vegetables, nibbles, and desserts.
- In October 2023, Amy’s Kitchen introduced “Family Size Entrées” to cater to busy families.
- In July 2023, Conagra Brands Inc. launched a wide range of frozen products to target diverse consumer preferences.
- Nestlé-PAI Partners announced in June 2023 their plans to revitalize and grow Nestlé’s frozen pizza business in Europe.
- Prasuma expanded its frozen food portfolio in April 2022, introducing new products available in 70 cities via partner retailers, including Meatigo.com, Walmart, and Swiggy Instamart.
Market Segmentation
By Type:
- Ready-to-Eat
- Frozen Food
By Distribution Channel:
- Supermarkets & Hypermarkets
- Convenience Stores
- Online Retail
- Others
Market by Country (25 Countries Covered)
1. North America:
- United States
- Canada
2. Europe:
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherlands
- Turkey
3. Asia Pacific:
- China
- Japan
- India
- South Korea
- Thailand
- Malaysia
- Indonesia
- Australia
- New Zealand
4. Latin America:
- Brazil
- Mexico
- Argentina
5. Middle East & Africa:
- Saudi Arabia
- UAE
- South Africa
Company Analysis
- General Mills Inc.
- Conagra Brands
- Nestlé S.A.
- Hormel Foods
- Unilever PLC
- The Kraft Heinz Company
- Nomad Foods Ltd.
- B&G Foods, Inc.
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