Market Trends of Chilled Processed Food Industry
Growing Demand for Convenience Food
Chilled processed food provides convenience in cooking and facilitates high-speed cooking, which is a major factor boosting the growth of the chilled processed food market. Owing to this convenience factor, chilled ready meals, processed meat, and other products like chilled vegetables are gaining importance in the market. The disposable incomes of consumers and the ever-growing population have led to an increased demand for chilled processed food, significantly boosting the market's rapid growth. Chilled processed foods provide consumer satisfaction by maintaining the desired food quality and standards, which is another remarkable factor expected to open new market opportunities for the chilled processed food market.
Increasing gluten intolerance among consumers in the market has propelled the demand for products that claim to be gluten-free in the bakery product range. Consumers tend to look for these claims in the packaging before purchases. Hence, manufacturers tend to use gluten-free ingredients to claim and market these products as gluten-free to attract consumers. For instance, Totally Gluten Free Bakery in New Zealand offers various chilled bakery products such as pastries, bread, and other bakery products.
North America Dominates the Market
North America dominates the market due to several regional and multinational players offering a variety of chilled processed food products in the market. The United States holds the largest market share in North America, with increasing demand for chilled processed foods for convenience. This inclination toward convenience is observed in the market due to the increasing working population. For instance, the Bureau of Labor Statistics of the United States revealed that the total full-time working population in the country significantly increased from 127.16 million in 2021 to 132.25 million in 2022. Such factors have helped drive the market in the recent past.
With increasing health awareness, consumers in the region are shifting toward vegan-based and plant-based diets, resulting in increasing demand for vegan meat and vegan-claimed chilled processed food in the market. Thus, players operating in the region are primarily offering chilled food that is ready to eat and ready to cook in nature. For instance, Beyond Meat Inc. offers a variety of plant-based meat products in chilled format. Plant-based burger patties and meats are among the popular products in the portfolio.
