Instant Food Market is projected to reach USD 139.39 Billion by 2030 : Cognitive Market Research

The Instant Food Market size was valued at USD 96.4 Billion in 2022 and is projected to reach USD 139.39 Billion by 2030, growing at a CAGR of 6.5% from 2023 to 2029
Instant foods are convenience foods, usually precooked, requiring minimal preparation. Most instant foods are sold as dry mixes, which require consumers to prepare by reconstitution. Starches used in instant foods generally contribute to product functionality and characteristics. Viscosity, texture, stability, appearance, and eating quality can be either controlled or affected by the incorporation of starch.

Market Dynamics:
• The hectic work schedule of people, Changing lifestyles, and increasing disposable income are the key driving factors for the instant food market. Due to hectic work schedules, people are not getting enough time to prepare their meals, so they feel making instant food products is a convenient option for them. these people also don't get enough time to grocery shop, making it more likely that they will turn to instant food products that can be easily stored and used at a later time. Further, according to the Bureau of Economic Analysis, Disposable personal income (DPI) increased by $68.6 billion (0.4 percent) and personal consumption expenditures (PCE) increased by $19.8 billion (0.1 percent) in November 2022. It leads to the increasing consumption of instant food.

• Innovations in the packaging and preservation of instant foods can create lucrative opportunities for the instant food market players in the forecast period. However, increasing awareness about the side effects of preservatives used in instant foods, and the less nutritional content of instant food due to processing can hamper the growth of the market.

Read Full Report with Table of Contents :
@-https://www.cognitivemarketresearch.com/instant-food-market-report

Regional Analysis of the Instant Food Market:
• Asia Pacific region is the largest contributor to the global instant food market and is expected to be the dominant region in the forecast period. This is due to the increasing demand for instant food products from the largest populated countries such as India, and China. Increasing disposable income is also fuelling the growth of the global instant food market. Consumers are willing to spend more on convenient foods to prevent spending a lot of time on conventional cooking to save time. Instant noodles, pasta, and vermicelli are popular instant food products in the countries such as Korea, Japan, and China, which is also fuelling the growth of the market. On the other hand, Europe held the second-largest market share, owing to the shifting trend towards convenience and on-the-go products.

Top players involved in the Instant Food market:
• Nissin Foods
• Nestle
• ITC Limited
• Unilever
• Capital Food Pvt. Ltd
• Indofood
• Ajinomoto Group
• Toyo Suisan
• Uni-President Enterprises
• Baixiang Food
• Masterkong
• Thai President Foods
• Sanyo Foods
• Samyang Food
• Premier Foods
• Ottogi
• Nongshim
• Chaudhary Group
• Cofco
• Korea Yakult
• Patanjali Ayurved
• Symingtons
• Koka Noodles
• Fukushima Foods

Current Trends of Manufacturers:
• Yu launched Instant Noodles (Yudles) at WH Smith and 24 Seven Stores (April 2022)
- Yu was conceptualized with the intention of changing the perception of packaged RTE food from being purely convenience foods to making them daily meal options owing to its foods containing zero preservatives or additives.

• Nissin Foods and Toyota Partnered to Realize Well-Being for All Through Food (April 2022)
- Nissin Food Products Co., Ltd. and Toyota Motor Corporation (Toyota) have initiated an agreement to jointly foster human well-being through healthy eating. This proposed plan will explore using Nissin's innovative food offering, based on the latest molecular nutritional science, to provide personalized, delicious, and healthy "Complete Nutrition Meals" for Woven City.

• Marico entered into instant noodle category with ''Saffola Oodles''(February 2021)
- Marico Ltd has announced its foray into the instant noodles segment with the launch of `Saffola Oodles`. The development comes in line with the company's focus on strengthening its foothold in the health, RTC snacking category.

• CG Foods infused Rs 125 cr in capacity expansion in India (September 2020)
- CG Foods, makers of Wai Wai instant noodles, has announced the manufacturing and selling of pre-packaged sauces. The company had announced the capacity expansion in its India noodles business with an investment of Rs 120 crore in 2020. The expansion commissioned to be effective from August 2020 will enable the plant to reach a capacity of Rs 1,550 crore.

Segment Analysis:
• Based on types of instant food, the market is segmented into canned food, instant products, breakfast cereal-based food, pasta food, dairy products, weaning food, and functional food. Pasta food held the largest market share in the year 2022, owing to the increasing demand and popularity of noodles, vermicelli, pasta, and other products. Following pasta food, instant products such as powders and mixes held the second-largest market share. People nowadays are not willing to spend time preparing conventional food, due to their hectic work schedule, so they prefer instant mixes and powders to prepare their meals. Instant mixes include products such as millet malts, fruit powders, onion powder, idli mixes, dosa mix, gulab jamun mix, rasam mix, and others.

• Based on packaging materials, the market is bifurcated into cardboard boxes, Pouches, plastic cups, and others. Pouches are the largest contributor to the overall market share of the global instant food market. The procurement cost of the pouches is less than the other packaging materials, and it is easy to handle during transportation, due to theis the manufacturer prefers pouches as packaging material for instant food products. Cardboard boxes held the second-largest market share in the year 2022. This packaging material prevents the formation of lumps in the instant powders and mixes by preventing moisture absorption.

• Based on diet type, the market is segmented into vegetarian, non-veg, and vegan. This is due to the ease of processing vegetarian sources than non-vegetarian sources. In addition to that, nonvegetarian sources such as meat and chicken have less shelf life as compared to vegetarians, which are mostly used instant food sources, such as oats, rice, and other cereals. According to the United States Department of Agriculture (USDA), raw chicken can be kept in your fridge for approximately 1-2 days. The same applies to raw turkey and other poultry. The quality of the poultry may diminish the longer it is frozen.

• Further, based on distribution channels, the market is segmented into online and offline channels. The offline segment held the largest market share while the online segment is expected to grow with the highest growth rate in the future period. Instant food products are easily available in retail stores, hypermarkets, wholesale shops, shopping malls, and other platforms. On the other hand, the online segment will grow faster in the forecast period due to the increasing popularity of the e-commerce platform and growing digitalization.

Related Report:
• Instant Noodles Market - https://www.cognitivemarketresearch.com/instant-noodles-market-report
• Processed Food Market - https://www.cognitivemarketresearch.com/processed-food-market-report
• Functional Food Market - https://www.cognitivemarketresearch.com/functional-food-market-report
• Baby Food Market - https://www.cognitivemarketresearch.com/baby-food-market-report
• Food Packaging Market - https://www.cognitivemarketresearch.com/food-packaging-market-report

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
20 N State Street,Chicago,
Illinois, 60602
United States
USA: +1 312-376-8303
Europe and UK: (+44) 20-8144-9523
Asia Pacific: (+852) 81930785
Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us

About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.

This release was published on openPR.