China Prepared Meals Market Outlook (2018 to 2032)
Synopsis
The above chart is China Prepared Meals Market Outlook (2018 to 2032)
Market Dynamics
the demand of china’s prepared meals market is increasing at a rapid rate and is expected to reach a valuation of over usd 25 billion by 2032. this growth is expected to be fueled by the rising disposable incomes in the country, increasing demand for convenience foods due to busy lifestyles, and the large number of potential customers with limited cooking time and skills. as a nation populous, china provides a good opportunity for food consumption for a large population. in 2018, the packaged food market in china was valued at usd 13.2 billion, and it is anticipated to grow at a cagr of 5.4% during the period 2018-2032. with the development of the country's refrigeration and food processing technology, more consumers are turning to convenience foods. also, the emergence of modern retail and improved cold chain facilities support the development of the packaged food category. the demand for chinese prepared meals is fuelled by health-consciousness among consumers, convenience demands of the working population, availability of convenience stores and modern retail chains, and the popularity of ready-to-cook solutions. chinese consumers are now opting for prepared meals that are healthier and with fewer additives as compared with the processed foods. on the other hand, rising disposable income and changing eating habits in tier-2 cities and rural areas have encouraged manufacturers to launch convenient and ready-to-eat products. manufacturers are looking to launch products that address the convenience, health, and nutrition needs of consumers. companies like yum china holdings, nestle sa, and unifrutti, and masterfoods are some of the major players in the chinese prepared meals market. manufacturers are increasingly focusing on product innovations through product diversification and the launch of premium and healthy prepared meals. in addition, the growth of e-commerce, which contributes extensively to the sales of prepared meals in the country, is another factor driving the growth of the segment. in conclusion, with increasing disposable income, busy lifestyles, and attractive product packaging, the demand for the chinese prepared meals market is expected to remain strong over the forecast period. the market is expected to be driven by product innovations such as product diversification and the launch of new, healthier, and premium products that are aimed at addressing the needs of nutrition and convenience of chinese consumers.
