Key regions: Canada, China, Spain, Japan, Philippines
The Convenience Food Market in Europe is currently experiencing minimal growth due to factors such as increasing health consciousness among consumers and the convenience of ready-to-eat meals and soups. However, the market is expected to grow as digital technologies are adopted and online food services become more prevalent.
Customer preferences: Convenience food has become increasingly popular in Europe due to the fast-paced lifestyle and busy schedules of consumers. This has led to a rise in demand for ready-to-eat meals and snacks, as well as meal kits and pre-made ingredients. With the growing focus on health and wellness, there has also been a shift towards healthier and more sustainable convenience food options, such as plant-based and organic products. Moreover, the rise of e-commerce and online grocery shopping has made it easier for consumers to access a variety of convenience food products, catering to their changing preferences and needs.
Trends in the market: In Europe, there is a noticeable shift towards healthier convenience food options, as consumers are becoming more health-conscious. This trend is driven by the increasing prevalence of chronic diseases and the desire for convenience without compromising on nutrition. As a result, there is a growing demand for organic, plant-based, and gluten-free convenience food products. This trend is expected to continue, with the market for healthy convenience food projected to reach $38.7 billion by 2023. This presents opportunities for industry stakeholders to tap into this growing market and cater to the evolving preferences of consumers. Additionally, there is a potential for partnerships and collaborations between traditional convenience food companies and health-focused brands to offer a wider range of options to consumers.
Local special circumstances: In Europe, the Convenience Food Market is heavily influenced by local dietary preferences and cultural traditions. For example, in France, the demand for ready-to-eat meals and snacks is driven by the busy urban lifestyle, while in Italy, the market is dominated by traditional pasta and pizza options. In Germany, there is a growing trend towards healthier convenience food options, such as organic and vegetarian products. Additionally, regulations on food labeling and ingredients also play a significant role in shaping the market in different European countries.
Underlying macroeconomic factors: The Convenience Food market in Europe is heavily influenced by macroeconomic factors such as economic stability, consumer spending power, and government policies. Countries with strong economies and higher levels of disposable income are experiencing higher demand for convenience food products, as consumers are looking for quick and easy meal options. Additionally, government policies promoting healthy eating habits and food safety regulations also play a crucial role in shaping the market. As the European population continues to age and urbanize, the demand for convenient and ready-to-eat food options is expected to grow, driving the growth of the Convenience Food market in the region.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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