With the robust growth of the economy and the increasing emphasis on healthy eating among consumers, China's convenient food industry is embracing new opportunities for development. Data indicates that the market size reached 673.6 billion yuan in 2023 and is projected to exceed one trillion yuan by 2026. China Food Exhibition notes that as market demand further segments, the convenient food industry will continue to expand, attracting more businesses and capital to enter the field, offering consumers higher quality and healthier product options.

Segmentation and Innovation Trends

Sub-markets such as frozen food and pre-cooked meal industries are rapidly developing, with an increase in the number of enterprises and intensified market competition. The number of valid patents in the instant noodle and related food industry is growing rapidly, demonstrating the industry's innovative vitality. The continuous upgrading of consumer demands and the intensification of market competition are prompting convenient food companies to increase R&D investments and improve production processes to enhance their competitiveness.

Consumer Behavior and Market Response

When purchasing convenient foods, consumers most frequently buy instant noodles and ready meals, accounting for 63.1% of purchases, while pre-cooked dishes are also gradually capturing a certain market share, reaching 36%. The market for convenient foods is notably homogeneous, and innovations in product ingredients, flavors, and processing methods can better meet the diverse, healthy, and nutritious demands of the younger consumer group. Component safety is also a development direction that most consumers expect for products.

The Rise of Snack Foods and the Pre-Cooked Meal Market

With the increase in per capita income, snack foods are increasingly becoming essential products in people's lives. 98.4% of consumers have purchased snack foods within a year, with the majority opting for seeds, nuts, and baked goods such as bread, cakes, and pastries. The pre-cooked meal market also shows strong growth momentum, with 52% of consumers buying pre-cooked meals two to three times a week or more, and 17.8% buying once a week.

Quality and Safety

When purchasing frozen foods, consumers pay more attention to shelf life and freshness, accounting for 64.3% and 56.8% respectively; convenience and speed are the main reasons for consumers to buy frozen snacks. Additive issues, hygiene concerns, and low cost-performance ratio are the most concerning issues for consumers, who, based on this, hope that frozen food companies will increase product diversity and cost-performance ratio. To meet consumer demands, frozen food companies need to strengthen hygiene and quality control in the production process and continuously improve product quality and taste. In addition, frozen food companies also need to enhance the quality control of raw materials to ensure product safety and hygiene.

If you would like to learn more about the food industry, please visit the SIAL China website for more information.

Source: China Food Newspaper

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