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Convenience Food - Southern Asia

Southern Asia
  • Revenue in the Convenience Food market amounts to US$94.28bn in 2024. The market is expected to grow annually by 8.83% (CAGR 2024-2029).
  • In global comparison, most revenue is generated China (US$154bn in 2024).
  • In relation to total population figures, per person revenues of US$49.22 are generated in 2024.
  • In the Convenience Food market, volume is expected to amount to 28.81bn kg by 2029. The Convenience Food market is expected to show a volume growth of 6.1% in 2025.0.
  • The average volume per person in the Convenience Food market is expected to amount to 12.2kg in 2024.

Definition:

The Convenience Food market covers any form of pre-packaged or prepared food that is intended to be simple to prepare or consume quickly, requiring little to no cooking or other preparation. Examples include ready-to-eat meals, frozen dinners, and soups. The focus of these meals is less on quality and nutrition and more on convenience and accessibility.

Structure:

The market consists of two different submarkets:

  • The Ready-to-Eat Meals market covers products that require minimal preparation by the consumer, i.e., meals that only require heating up.
  • The Soups market covers finished products such as powders for making soup (instant soups), and broth or liquid soups that are purchased in prepared form (tinned soups).

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

In-Scope

  • Ready-to-eat meals
  • Soups

Out-Of-Scope

  • Fresh cut salad
  • Frozen vegetables
  • Cut fruit
  • Out-of-home consumption
Convenience Food: market data & analysis - Cover

Market Insights report

Convenience Food: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Volume

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Price

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Sales Channels

    Most recent update: Nov 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Convenience Food Market in Southern Asia is experiencing slow growth due to factors such as changing consumer preferences, increasing health consciousness, and the convenience of online food delivery services. The Ready-to-Eat Meals and Soups sub-markets are also impacted by these trends, leading to subdued growth in the overall market.

    Customer preferences:
    In Southern Asia, there has been a noticeable increase in the demand for convenience food products, driven by the rise in dual-income households and busy lifestyles. This trend is further fueled by the growing adoption of Western eating habits and the desire for quick and easy meal solutions. However, there is also a rising demand for healthier and more nutritious options, as consumers become more health-conscious. This has led to the emergence of new convenience food products that cater to specific dietary needs, such as gluten-free, vegan, and organic options. Additionally, there has been a shift towards locally sourced and traditional ingredients, reflecting a preference for authentic and sustainable food choices.

    Trends in the market:
    In Southern Asia, the Convenience Food Market within The Food market is experiencing a surge in demand for healthier and more diverse options. With an increasing focus on health and wellness, consumers are seeking out convenience foods that are made with natural ingredients and have minimal processing. This trend is expected to continue as consumers become more health-conscious and prioritize convenience in their busy lives. Industry stakeholders must adapt to this shift by offering healthier and more diverse options in order to remain competitive in the market.

    Local special circumstances:
    In Southern Asia, the Convenience Food Market is influenced by a variety of factors, including cultural preferences and economic conditions. In countries like India, where busy lifestyles and limited access to traditional cooking methods are common, packaged and ready-to-eat foods are in high demand. In contrast, countries like Sri Lanka and Nepal, with their rich culinary traditions and strong agricultural sectors, have a more limited market for convenience foods. Additionally, government regulations on food safety and labeling play a significant role in shaping the market. These unique factors contribute to the diverse landscape of the Convenience Food Market within The Food market in Southern Asia.

    Underlying macroeconomic factors:
    The Convenience Food Market within The Food market is greatly impacted by macroeconomic factors in Southern Asia. For instance, the region's economic growth, government policies, and consumer spending patterns all play a crucial role in market performance. Additionally, global economic trends, such as population growth and changing dietary preferences, also have a significant influence on the demand for convenience food in this region. Moreover, the availability of raw materials, infrastructure, and labor force also contribute to the market's growth in Southern Asia. Lastly, political stability and trade agreements also affect the import and export of convenience food in this region, further shaping the market's dynamics.

    Methodology

    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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    Convenience Food: market data & analysis - BackgroundConvenience Food: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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