Consumers today are adopting busy lifestyles and moving towards products and services that suite their fast-paced routine. Food product providers are focusing on these changing demands of the consumers, thereby fueling the demand for convenience foods. Consumers prefer convenient alternatives for their on-the-go routine, thereby fueling new innovations in the convenient foods landscape. Convenience foods are becoming the newest favorite amongst consumers who relish ready-meals that help them save up on time. Moreover, the ultra-convenient offerings introduced in the market including meal kits, single-serving packs, and others, are further garnering consumer attention, thereby creating major opportunities for the companies providing convenience foods.
Retailers Stacking Shelves with Convenience Foods Owing to Consumer Preference Shift
There has been a significant transformation in the way consumers buy food products. Shopping malls, retailers, supermarkets, and leading food product stores continually adapt to the current market trends to gain significant consumer attractive. As convenience foods gain major traction, various retailers and shopping malls are stacking their store shelves with convenience foods. For instance, a South-Africa-based supermarket company, Pick n Pay stores stands by its continual promise of innovating in ready-made meals and convenience foods range as the company recognized the South African consumers’ preference shift to seek dining at home over eating outside. Furthermore, the company research highlighted that the consumers prefer to purchase quality convenience foods to entertain and dine in the convenience of their homes. On this note, the company is witnessed prioritizing convenience foods in its stores. Pick n Pay has further witnessed that their convenience foods range is gaining tremendous popularity as an alternative to eating out.
Apart from such existing retailers making convenience foods a priority, there are several other changes coming up in the market. Considering the increasing popularity of convenience foods there are several shopping centers preferring them onto their store shelves. Convenient Food Mart, a chain of convenient stores in the United States, announced the opening of their new Convenient Food Mart in Wilkes-Barre Twp. Blvd., USA. Such growth in the convenience foods landscape reflects the continual growth expected through the coming years.
Other supermarket giants such as Woolworths and Coles, are also looking to offer new food products in 2019. Recognizing the demand for vegan and convenience foods, the two supermarket companies plan to focus on offering consumers with fresh convenient foods and healthy drinks. The trend for plant-based eating and convenient foods are major drivers for these development plans.
Ready-to-Eat Food Trends to Remain Popular Amongst Millennials
There is tremendous consumer attention focused on convenient foods such as ready-to-eat foods and processed foods. The millennials are increasingly adopting to the ready-to-eat foods trend owing to the aspect of convenience and time-saving. Meals delivering portioned intake along with nutritional attributes are, therefore, becoming the choice of consumers today, contributing to substantial growth of the convenience foods market. Owing to this promising scenario, convenience food providers are therefore readily expanding their offerings in the ready-to-eat foods segment.
Convenience Foods Manufacturers Implementing Key Strategies to Leverage Demand Growth
The convenience foods market has witnessed various strategic developments carried out by leading companies operating in the convenient foods landscape. On account of the increasing significance gained by the convenience foods, various companies are aiming at the lucrative convenience foods business. For instance, IF&P Foods recently acquired Cibus Fresh, a producer of convenience foods for strengthening its presence in the convenience foods landscape. The key factor driving IF&P Foods towards this acquisition was the rising demand for ‘grab-and-go’ convenience foods. The combined expertise of IF&P Foods in the distribution of specialty foods and Cibus Fresh’s approach to fresh convenience foods would bring new developments in the convenience foods landscape. A detailed and insightful research study traces the key developments witnessed across the convenience foods landscape.
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