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Busy lifestyles and hectic work schedules are leaving little time for the preparation of elaborate meals. A growing number of consumers are therefore turning to ready-to-eat or ready-to-cook food products. While the trend has been in existence for several years, the introduction of microwave ovens has helped take the convenience trend to its limits, by reducing cooking and heating time to mere minutes. Microwavable packaged foods such as snacks and meals gained in popularity for their ability to expedite cooking time. Today, microwave ovens are a standard kitchen appliance in developed markets, while developing markets are witnessing a surge in ownership rates. As the number of women joining the workforce continues to rise, more women are likely to turn to microwavable foods as a method to save time and provide quick and simple meals for their families. Rising income levels, urbanization, changing consumer lifestyles, and spurt in nuclear families have emerged as major factors supporting growth in the market.
The evolving consumer palette is driving manufacturers to innovate new and unique microwavable food varieties in bold and exotic flavors. Food manufacturers are increasingly positioning precooked meals/entrees as being "homemade", given the growing preference for traditional homemade food. Shrinking family sizes driven by the rise in the number of double income no kids (DINK) households, as well as an increase in the number of singles are leading to the popularity of single-serve microwavable food packs. With a growing number of children assembling their own meals, there is a strong demand for do-it-yourself microwavable meal kits. Frozen foods continue to enjoy significant demand owing to a host of advantages such as convenience, and perceptions of quality, freshness and taste among others. The trend has percolated into the frozen microwavable foods market as well, with consumers preferring frozen microwavable dinners and meals. Technological advancements in microwaveable packaging are enabling the launch of a wide range of organic and ethnic frozen foods. Concerns over the use of preservatives are driving demand for shelf-stable microwavable foods and preservative free frozen diets.
As stated by the new market research report on Microwavable Foods, the United States represents the largest market worldwide, supported by the established culture of snacking, easy meal preparation, and processed food consumption. Emerging markets specifically BRIC (Brazil, Russia, India, and China) are expected to fuel growth in the coming years. The Middle East, Latin America, and Asia-Pacific offer significant potential for growth led by factors such as rising disposable incomes, booming supermarkets and hypermarkets sector, rapid urbanization, and Westernization of food and cooking habits. Asia-Pacific ranks as the fastest growing market with a CAGR of 9.5% over the analysis period.
Major players covered in the report include Ajinomoto Windsor, Inc., Bellisio Foods, Inc., Campbell Soup Company, ConAgra Foods, Inc., General Mills, Inc., Gunnar Dafgård AB, Hormel Foods Corp., Kellogg Company, McCain Foods Limited, Nestle SA, Pinnacle Foods Inc., The Kraft Heinz Company and The Schwan Food Company among others.
Food is universally key to a great birthday party, suggests a new study by Kadence International (www.kadence.com), a leading market research consultancy firm.
This month, Kadence International celebrates its 25th anniversary, and to mark the occasion, Kadence conducted a study across twelve markets to explore the ingredients of a perfect celebration. The countries sampled were Hong Kong, India, Indonesia, Japan, Malaysia, Philippines, Singapore, Taiwan, Thailand, United Kingdom, the United States, and Vietnam.
88 percent of all respondents selected Food as the most important ingredient to a well-organized birthday celebration. In line with the study average, 84 percent of respondents from the UK put strong emphasis on food, closely followed by drinks (82 percent) and getting the right music (73 percent).
Also identified in the study were six different party-attendee profiles across different countries and cultures: • Party Mad - Largely identified in India, Philippines and the United States. • Party Shy – Largely identified in Singapore and the United Kingdom. • Party Planner – Mostly found in Japan, with the Guest List as their top priority item for a celebration. • Planning Delegators – Largely found in Indonesia, Taiwan and Vietnam. • Party Socialiser – Most prominent in Malaysia and Thailand. Also associated with the culture of taking selfies which has a stronger Asian focus including countries like India, Indonesia and Vietnam. • Party Hard – The honorary profile goes to Hong Kong, with the highest preference over playing games and dancing at a party scene.
The study also presents analysis of different preference for a great celebration and gifts based on Gender, Age and Geography. The full analysis can be found at Kadence’s 25th Anniversary website (www.kadence.com/25th/) launched today, along with a short party personality quiz for participants to discover which segment of party-goers they belong to.
Upsurge in Demand for Ready-To-Use Drinkable Therapeutic Food in the Market
According to Persistence Market Research report, titled “Ready-to-use Therapeutic Food Market: Global Industry Analysis and Forecast, 2016–2024”, the global ready-to-use therapeutic food market in 2015 was valued at US$ 249.2 million, and is anticipated estimated to account for value worth US$ 276 million by the end of 2016, exhibiting a Y-o-Y growth rate of 10.7% while in terms of value, it is anticipated to grow at a healthy CAGR of 10.6% in the forecast period from 2016 to 2024.
Universally, malnutrition is believed to contribute to nearly half of all child deaths. Malnutrition can be chronic, resulting to stunting. According to WHO Child Growth Standards that chart the progress of a reference population, a stunted child endures a short height with respect to age. An acute malnutrition causes wasting and a child who is wasted has a low weight for his height.
Malnutrition is caused by not having enough of essential food and necessary nutrition. Among children, recurrent infections is the prime cause of malnutrition in many tropical countries. Mostly, inadequate nutrition restricts recovery from infection, thus setting up a vicious illness and malnutrition cycle. One way to break this vicious cycle is by providing ill children with nutritional supplements, viz. Ready-To-Use Drinkable Therapeutic Food (RUTF). They have proved to be highly active in promoting rapid weight gain in children suffering from severe acute malnutrition.
Factors that are driving the market growth of ready-to-use therapeutic food include growing demand of drinkable ready-to-use therapeutic foods and increasing global disasters and emergencies. Due to easy storage and distribution, the demand for semi-solid paste therapeutic foods is fueling the revenue growth of the market. However, factors that are hampering the market growth of ready-to-use therapeutic food such as customers shifting towards foods having local ingredients and risk of contamination due to inconsistencies in RUTF milk products.
The global market of ready-to-use therapeutic food is categorized into product type and regions. Based on product type, the global market of ready-to-use therapeutic food is categorized as solid (biscuits/bar and powder/blends), drinkable therapeutic food and semi-solid paste. Among these, the section of powder/blends in the global market of ready-to-use therapeutic food will account for US$ 1.5 million in the forecast period from 2016 to 2024, exhibiting a CAGR of 11.2%. Meanwhile, the segment of biscuits/bar will register a CAGR of 8.7%, accounting for US$ 7.8 million during the forecast period. The segment of semi-solid paste is anticipated to remain dominant in the global market of ready-to-use therapeutic food.
Regionally, the ready-to-use therapeutic food market is categorized as North America, the MEA, Europe, and APAC. The MEA market will probably account for relatively higher revenue in the global market of ready-to-use therapeutic food market while the North America market is expected to be reach US$ 35.7 million by the end of 2016 and it is anticipated to exhibit a healthy CAGR of 10.3%, valued at US$ 78.2 million between 2016 and 2024.
The Europe region is estimated to witness maximum revenue share and higher production capacity in the global market of ready-to-use therapeutic food market during the forecast period. The APAC market is estimated to reach US$ 27.2 million during the forecast period. Additionally, in the APAC region, availability of cost-effective raw materials will boost the production of ready-to-use therapeutic foods and consequently fuel the market during the forecast period.
The key market players operating in the market for ready-to-use therapeutic food include Compact AS, Tabatchnik Fine Foods, Edesia USA, NutriVita Foods, Diva Nutritional Products, Nutriset SAS, InnoFaso , Mana Nutritive Aid Products, Hilina and Insta Products.
Over the forecast period, the segment of drinkable therapeutic food is projected to gain significant market share of the global market for ready-to-use therapeutic food.
Summary: Globally, Europe region will dominate the market for ready-to-use therapeutic food over the next eight years.