Convenience Food Market Size
The Global Convenience Food Market reached USD 623.5 million in 2022 and is projected to witness lucrative growth by reaching up to USD million by 2030. The market is growing at a CAGR of 7.5% during the forecast period (2024-2031). Changing customer trends have led to the growth of the convenience food retail industry as people migrate to urban areas.
Innovative products in natural ingredients, convenience, and organic foods and advances in packaging development areas are expected to provide the sector with a potential growth opportunity. The factors that play a major role in the growth of the convenience food market are increasing demand for ready-to-eat snacks, high demand from developing regions, growing disposable income, a sedentary lifestyle, and growth in the working population.
Market Summary
| Metrics | Details |
| CAGR | 7.5% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Product Type, Packaging, Distribution Channel and Region |
| Regions Covered | North America, Asia-Pacific, Europe, , South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Changes in Consumer Lifestyle and Rapid Urbanization.
The rapid urbanization, improving consumer lifestyle, and high disposable income, are increasing the demand for on-the-go convenience foods market size. The rate of urbanisation worldwide in 2022 was 57%. With more than 45 % of the population living in cities, North America had the highest rate of urbanisation. The proportion of the population living in areas classified as "cities" depends on the level of urbanisation. In addition, factors such as the growing millennial population, increasing population of working women, busy work schedules, and on-the-go consumption habits are expected to fuel revenue growth of the global convenience food products.
The packaged and processed food industry is estimated to witness significant growth in the next few years as these foods are easy and quick to make. The quality and variety of convenience foods are also getting better. The rapidly growing urban population is set to impact the industry significantly. The increase in the number of convenience food sales outlets on driveways, fuel stations, and commercial locations is fueling the growth of the convenience food market as it has facilitated the availability of convenience foods to the target consumers. Also, consumer preferences for nutritious and convenient food and an increase in disposable income coupled with the rising demand for snacks and fried food products are expected to further boost the demand for the convenience food market.
Market Segment Analysis
The global convenience food market is segmented based on product type, packaging, distribution channel and region.
Ready-to-eat Convenience Food Segment Accounted for the Highest Share of the Global Convenience Food Market
Ready-to-eat foods are known to be the best alternative to traditional foods that can be eaten at any time (such as breakfast, lunch, or dinner). Young consumers spend the bulk of their earnings on convenient ready-to-eat food. Young consumers are the best targets for giants that manufacture ready-to-eat food. The level of convenience of those products helps to increase overall consumer demand worldwide. According to, The Indian Institute of Journalism & New Media (IIJNM), Sales of ready-to-eat food items in supermarkets have increased significantly over the past two years. As the sales percentage of ready-to-eat food products increased from 50% last year to 70% in 2023, there has been a 20% increase in sales.
Ready-to-eat food products turned into one of the few industries that witnessed a surge in immense demand during the coronavirus pandemic. With countries on lockdown and most people working from home, ready-to-cook food products were flying off the shelves over the last few months. For instance in 2022, one of the India-based online grocery stores named Grofers even reported a sales surge of 170% in the ready-to-eat category, 31% in the ready-made meals and mixes category, and 41% in the frozen food category, indicating a sudden consumer shift from home-cooked food to ready-to-eat products.
Source: DataM Intelligence Analysis (2023)
Market Geographical Share
North America Holds Highest Share in the Global Convenience Food Market
North America is the largest market for convenience food market with a share of nearly 30% in global sales value in 2022. The primary factor behind this region’s dominance is attributed to the wide concentration of convenience food manufacturers in North America including Nomad Foods Ltd., Mondelez International and Tyson Foods, Inc. among others. The market for convenience food in the region is mainly driven by the increasing demand for ready-to-eat food such as frozen pizza and handheld breakfast. These are positioned as low-cost products with quality and freshness. Moreover, these meals have gained equal popularity as the foods found in restaurants as well as foods found in other food outlets. Furthermore, chilled ready meals and frozen ready meals are one of the most consumed categories of ready-to-eat food in the United States.
Source: DataM Intelligence Analysis (2023)
Convenience Food Companies
The major global players in the market include Amy’s Kitchen, Inc., Cargill, Incorporated, Conagra Brands, Inc., General Mills, Inc., Tyson Foods, Inc., Mondelz International, Inc., Kraft Foods Group Inc., WH Group, Unilever, and Kelloggs Company.
COVID-19 Impact on Market
COVID-19 has created a panic situation among consumers with temporary closures of retail stores in an attempt to limit the impact of the virus. Global economies have contracted by 5% to as much as 20% in the first half of 2020. This has led to panic purchasing among the consumers and the stockpiling of food products with a long shelf life, such as convenience food. The corona-virus pandemic is the driving force changing the lifestyle of consumers towards consuming convenience foods because most nations are forced to restrict movement and lockdown their borders. The need for pre-prepared meals is paramount within this period. In the current scenario, the demand for convenience foods is gaining a significant boost from governments giving the order that only supermarkets and formally registered markets should remain open so that consumers' daily necessities can be easily accessed.
By Product Type
- Meat/Poultry Products
- Cereal Based Products
- Vegetables Based Products
- Others
By Packaging
- Frozen Foods
- Canned Foods
- Chilled Foods
- Ready-to-Eat Foods
- Others
By Distribution Channel
- Supermarkets/Hypermarkets
- Specialty Stores
- Convenience Stores
- Online Stores
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- The U.K.
- France
- Italy
- Spain
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- On June 29, 2022, North American Conagra Brands launched extensive summer line-up of new product innovation. The new foods from Conagra Brands are found in almost every aisle of the store and feature modern flavors, trendy ingredients, and easy prep techniques.
- On April 5, 2022, Prasuma launched category expansion with brand new products in Frozen Food Portfolio. Prasuma's new products available across all 70 cities at the brand’s partner retail stores including Meatigo.com, Walmart, Nature’s Basket, and Swiggy Instamart.
- On November 13, 2020, Cham Foods, an Israel-based company, launched Pre-Cooked Pulses & Grains as Convenience Foods Soar.
Why Purchase the Report?
- To visualize the global convenience food- market segmentation based on product type, packaging, distribution channel and region as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of convenience food market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global convenience food market report would provide approximately 53 tables, 54 figures and 195 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
