The Microwavable Foods Market was valued at $120.50 million in 2023 and is estimated to reach $817.2 billion by 2028, with a CAGR of 10.91% from 2023-2028.

Foods that can be microwaved can be prepared more quickly and cooked in a standard microwave oven. It includes shelf-stable, chilled, and frozen meals such pork, chicken, cattle, shellfish, and vegetarian fare as well as frozen and chilled pizza and soups.

Market Drivers and Restraints:

The massive desire for quick and easy meals is the main driver of the expansion of microwaveable food. The expansion of nuclear families and urban populations are further contributing causes, and the rise in the number of working women is boosting the need for microwaveable food. The busy and hectic lifestyles of people are predicted to drive demand for ready-to-eat food items, which is likely to boost demand for the global market for microwaveable foods. In addition, the market for global microwaveable food is growing as a result of high living standards and the quick development of massive retail chains.

When nutrients are heated, whether by a microwave or a conventional oven, some nutrients begin to deteriorate. For instance, using a microwave to cook meals protects more nutrients like vitamin C and other substances that break down when heated because microwave cooking times are shorter. The nutrients in food are preserved when it is prepared fast, without needing to be heated for a long period of time, and with the least amount of liquid. Given that they require less time for food preparation or heating, microwaves aid in the preservation of these vital nutrients. Food is often steam-cooked from the inside out when it is heated in the microwave with a tiny amount of water. Given that they preserve more vitamins and minerals than practically any other method of cooking, microwave meals show that they can be nutritious. The market for microwaveable food is anticipated to offer businesses a lucrative opportunity as a result of increased R&D efforts by several manufacturers of microwaveable food. Several manufacturers of microwaveable food are investing in R&D because to improvements in freezing technology and the growing construction of numerous fast-food outlets in developing nations.

The rise of microwaveable food may be hampered by growing health concerns related to frozen, refrigerated, and shelf-stable meals as well as growing awareness of the nutrient content of ready-to-eat foods. People think that food that has been prepared months or more in advance is unhealthy. This could be yet another issue impeding the market for microwaved food's overall expansion. 

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The report is segmented as follows:

The Microwavable Foods Market is segmented by Product; the Market is segmented by Packaging Technology; the Market is segmented by Distribution Channel:

By Product (Shelf Stable Microwavable Food, Chilled Food, and Frozen Food)

By Packaging Technology (Patterned Susceptors Technology, New Tray-lidding Methods, and New Cook Bag Technique)

By Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online Sales Channel, and Others)

Geographical Segmentation:

During the forecast period, North America and Europe are anticipated to account for a sizeable portion of the global microwaveable market. The significant market share can be linked to the long-established infrastructure of retail food chains, the rising disposable income, and the growing populations in these areas. Additionally, during the projected period, the market for microwavable food products would rise more quickly in these regions due to rising technological breakthroughs and advances.

Impact of COVID-19 on the Market

Infectious disease COVID-19 was first discovered in the Chinese city of Wuhan in the province of Hubei in late December 2020. Customers were driven to purchase microwaveable items like frozen food during the pandemic due to a decline in foot traffic in grocery shops and retail establishments as well as preparation for possible food shortages. Due to the worldwide complete lockdown, there is a considerable surge in demand for items that can be microwaved. Due to the COVID-19 situation, many businesses that produce microwaveable foods upped their output to keep up with consumer demand. Since a result, COVID-19 has had a favorable effect on the market for microwaveable goods, as companies saw a boost in production and sales in 2020 as a result of the global COVID-19 pandemic.

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