Key Companies Fuelling the Global Microwavable Foods Market with Rising Research and Development Activities

McCain Foods, Nestlé SA, Kellogg Company, Ajinomoto Windsor, Inc., and General Mills Inc., among others, are the major players in the global market for microwavable foods.

As per the analysis by Expert Market Research, the global microwavable foods market is expected to grow at a CAGR of 4.8% in the forecast period of 2023-2028, owing to the rise in demand for convenience food.

The microwavable foods industry has been growing due to the rising population in the urban localities. The improvement in lifestyles, need for quick and easy food, and an increase in the number of women in workplaces have helped the market growth. Additionally, the rising research and development efforts made by numerous companies that produce microwaveable food for improvements in freezing technology and the rising number of fast-food chains opening in developing economies are anticipated to improve the prospects for industry players in the forecast period.

North America and Europe are the significant regions in the microwavable foods market due to the innovations in the food intake solutions, simpler preparation process, and rising consumption of processed food products. Due to people's busy lifestyles and an increase in the number of working women, Europe has also seen significant growth in recent years in terms of the production and consumption of microwaveable meals. Germany is a significant contributor to the market, and it is closely followed in terms of value by the United Kingdom, Russia, and France. The Asia Pacific region is also expected to witness growth in the industry because of betterments in their standard of living.

McCain acquired a minority share in Fiddlehead Technology to enhance its data science technology in February 2021. In the quickly evolving consumer goods sector, Fiddlehead employs machine learning to find answers to some of the most challenging issues. Building on its original work with McCain and other top food producers, Fiddlehead has developed extensive expertise in aiding its clients in making money from their data. With McCain's investment, Fiddlehead will be able to hire more data scientists and engineers for its Moncton offices, among other expansion ambitions.

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Top 5 Global Microwavable Foods Companies:

McCain Foods

McCain Foods is the largest manufacturer of frozen potato products and supplier of potato specialities, appetisers, and French fries to retail and food services in the world. The company is present in more than 160 countries across the world. The company also produces a range of chilled goods, such as potato flakes and chilled versions of fries, mashed potatoes, and roast potatoes.

Nestlé SA

Nestle is the world’s multinational food and beverage processing corporation, which has a footprint in 191 countries. It is one of the largest food companies in the world, having more than 2,000 brands. Nescafe, Maggi, KitKat, and Milkmaid are world famous brands of the company.

Kellogg Company

Kellogg’s is a plant-based food company which offers a wide range of food items in its portfolios for customers. Their goal is to have food products in their portfolio that take societal, emotional, and physical ties into account. The company manufactures wholesome food products in 18 countries and exports these products to more than 180 countries across the world.

Ajinomoto Windsor, Inc.

Ajinomoto Windsor is one of the leading companies in the world for ethnic frozen foods and appetisers, committed to providing nutritious and delicious meals globally. It is a company that contributes towards a healthier lifestyle through balanced and nutritious umami foods. Their operations are in 9 factories and 1 corporate office domestically. The company has a workforce of 2,800 employees across the world.

General Mills Inc.

General Mills is a multinational manufacturer and advertiser of branded consumer food providing quality brands through stores. They have built a strong portfolio which highlights 8 iconic brands, and each represents more than USD 1 billion in retail sales. In the United States, it is a significant producer of packaged consumer foods, specialising in flour, breakfast cereals, snacks, prepared mixes, and related products.