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The market for microwavable foods is being driven by the rising demand for tasteful food items, which are resulting in the growing demand for RTE food products across the globe. The market is further aided by the growing need for delicious food in less time, due to the changing lifestyles and working schedules. Moreover, the frozen microwavable food is widely preferred across the globe for its enhanced nutritional benefits and taste, such as fresh foods. In addition, frozen microwavable foods are meeting the new age demands of dynamic consumers who demand healthier meals without compromising on the taste that too without any hassle. Additionally, the market is undergoing a continual R&D activities, which help improve the existing products and help provide a better quality product, further boosting the market growth of microwavable foods.
One of the key industry players in the market is Kellogg Company (NYSE: K). The company has witnessed household penetration and repeat sales rates for RTE cereal over the past several months of the year 2020, as a result of shifting patterns of consumption of consumers in relation to the coronavirus (COVID-19) pandemic. Consumers are rediscovering RTE cereal category and coming back to it now. The growing brand awareness as a result of dynamic marketing strategies is expected to influence the market positively.
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McCain Foods, Nestlé SA, Kellogg Company, Ajinomoto Windsor, Inc., and General Mills Inc., among others, are the key players in the global microwavable foods market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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