Microwavable foods market value to exceed $104 billion

Press Release   •   Jul 02, 2012 15:08 BST

By 2017 the global microwavable foods market is poised to exceed US $104 billion. Growth within the microwavable food market is set to be driven by factors including convenience, minimal cooking time, busy lifestyles, and the changing food and purchasing habits of consumers.

The microwavable foods market is significantly impacted by contemporary, modern lifestyles. With technology advancements rushing an already frenzied life in the fast lane, food products designed to blend in with modern kitchen appliances is expected to witness renewed vigour.

Changing, erratic lifestyles and new technologies spawning the emergence of quick microwave frozen foods, is all set to scale convenience foods to new heights. As the next generation of convenient customer ready foods begins to hit the market shelves, highly processed frozen microwavable foods will rapidly make inroads into the frozen food sections of supermarkets and grocery stores.

At present, the frozen food section of a supermarket/grocery store is where all the action takes place, with close to 87.5% of microwavable foods originating from this section.

Developed economies in the US and Europe represent the largest regions within the global microwavable foods market. Strong growth is envisaged from developing countries in Asia, and South and Central America. The Asia-Pacific market looks likely to experience an explosive growth and is set to forge ahead at a strong rate of 7.4% through to 2017.

For more information on the microwavable foods market, see the latest research: Microwavable Foods Market

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