According to a report from ReportLinker.com, the microwaveable food market will continue to grow at a compounded annual growth rate of five percent through 2023. Factors contributing to this growth will include:
- The availability of numerous distribution channels, including the surging presence of supermarkets, hypermarkets, specialty stores and online through outlets like Walmart and Tesco.com. As a result, the easy availability of microwavable food through offline and online retailers is likely to fuel the global microwavable foods market growth in the forthcoming years.
- An increase in new microwavable food product launches.
- The increasing availability of innovative and healthy microwavable food options.
- The market appears to be highly fragmented with the presence of several market players. Vendors in the market are entering into M&A to enhance their product portfolios as well as expand their geographical presence.