The market outlook for convenience food in the Asia-Pacific (APAC) region is positive. The market is expected to grow at a CAGR of 4.54% from 2023 to 2028, reaching a value of USD 158.40 billion by 2028.
The growth of the convenience food market in the APAC region is being driven by a number of factors, including:
- Increasing urbanisation: The APAC region is rapidly urbanizing, with the urban population expected to reach 5.3 billion by 2030. This is leading to a change in lifestyle, with people having less time to cook and eat at home.
- Changing consumer preferences: Consumers in the APAC region are increasingly looking for convenience and value for money. They are also becoming more health conscious, and are demanding healthier convenience food options.
- Growth of the online food delivery market: The online food delivery market is growing rapidly in the APAC region. This is making it easier for consumers to access convenience food, and is contributing to the growth of the market.
This sector includes:
- Ready-to-eat meals
- Frozen food
- Canned food
- Packaged snacks
- Pre-made meals
- Microwaveable meals