In the Asia Pacific (APAC) region¹, convenience food stands as the leading category within the savory food sector.² This category, also known as “convenience eating”, “ready-to-eat” or “prepared meals”, encompasses a wide array of food products. At Biospringer, we classify ready meals, instant noodles, prepared pasta, salads, food kits, pizzas, as well as wet and dried soups under this category.
The Asia Pacific market dominates with 40% of the total sales value, placing it ahead of America, which holds 35% of the market share. In this article, Biospringer experts share an overview of the convenience food market trends in Asia Pacific.³
Sales value of the convenience food market in Asia Pacific
Between 2019 and 2023, the total retail value of savory convenience foods represents 378 USD billion in Asia.Chinaleads theconvenience food market with the highest sales value, totalling147.6 USD billion, followed by Japan with 127billion, and South Korea with 24 billion. Meanwhile,India is experiencing significant growth. With a total retail value of 8 USD billion, the countryisboastingan impressive CAGR of 18%. It is followed by Australasia, Vietnam & Philippines, with 11% CAGR.⁴Among the variousfood applicationsin this category, instant noodles dominate, capturing 43% of total sales value in the region. Following closely behind, food kits have surged in popularity, achieving a 22% CAGR over the past 5 years in Asia.⁵
Consumers’ expectations in convenience food segment
Consumers increasingly favor quick, easy-to-prepare meal solutions due to their busy lifestyles while also prioritizing healthy eating. The demand for nutritious and convenient foods is consequently rising, with “no additives/preservatives” remaining the top positioning in the category.“Low in sugar” options have alsoshown remarkable growth, boastingan outstanding CAGR of 56%. Meanwhile, consumers prioritizing healthiness are also being cautious with the salt content of their food products. In fact, 1 in 3 consumers globally reports always checking for ingredients of interest on their food products packing.⁶
Additionally, there is significant demand for “high protein/fiber” options, which have experienced a solid CAGR of 20%⁷in the convenience foods category.Now, the challenge for food manufacturers lies in developing formulations that meet all these criteria. To discover solutions our experts have found to address these challenges, visit our blog articles:
Japan leads the Asia Pacific region in New Product Launches (NPLs) for convenience food products, with 6114 products launched between 2019 and 2023. Following closely are China with 4302 NPLs and South Korea with 3273 NPLs.⁸Japan and Korea are widely recognized for their innovation in ready meals, consistently introducing numerous NPLs each year. For inspiration from their unique concepts, check out our dedicated study:
Key purchasing drivers in the convenience food category
Health claims are essential as consumers are increasingly focused on their well-being. With the rise in health-related communications, people are paying closer attention to product labels. They are seeking low-salt, low-fat, and high-protein ready meals to maintain a healthy diet, even in the midst of their busy daily lives.
Meanwhile, taste remains a top priority for consumers, often driving their purchasing decisions. For instance, when asked why they consume ready meals, 61% cited convenience as the primary reason, with an additional 41% highlighting taste as a significant factor.⁹
Consumers’ flavor preferences in convenience foods
In the realm of convenience foods, chicken flavor remains dominant across Asia. It is followed by cheese, beef, chili flavor and soy sauce.¹¹ Additionally, there is increasing popularity in regional, aquatic, and fusion flavors. Asian consumers are interested about local tastes, especially Korean and Japanese flavors. The trend of “fusion foods” is gaining global traction, exemplified by products like the Old El Paso Fusion Soft Tawo – Fusion Kit in Teriyaki Flavor. Furthermore, there has been a notable +24% year-over-year growth in meat categories featuring “Korean-inspired flavor,”¹² reflecting global interest in regional tastes.
2024 Report: Ready meals concepts in Japan and Korea
At Biospringer, we recognize convenience foods as a uniquely challenging category. Crafting healthier formulations requires a delicate balance between nutrition and taste, achieving appetizing texture and appearance, and ensuring a stable shelf life with flawless sourcing. Our experts in Singapore understand the critical importance of considering all these factors when developing or reformulating recipes.
Meanwhile, they are well aware of the importance of being informed on lastest trends to remain at the forefront of innovation. On that matter, Japan and Korea are recognized in the region as the most innovative countries for new products launches in ready meals. Therefore, they created a special report to present 2023 and 2024 products launched in Japan & Korea in the convenience foods category.
If you wish to download this report, fill in this contact form:
¹In this article, the “APAC” mentions include Japan, South Korea, China, Taiwan, Vietnam, Thailand, Philippines, Malaysia, Singapore, Indonesia, Australia, New Zealand, India, Sri Lanka, Nepal, Bangladesh and Pakistan.
²Euromonitor, “Retail Value (USD Billion) for Savory Segments, Asia, 2019 – 2023”
³Euromonitor, “Convenience Foods Retail Value (USD Billion), by Region, 2019-2023”
⁴Euromonitor, 2023
⁵Euromonitor, “Convenience Foods Sub-category Retail Value (USD Billion), Asia, 2019-2023”
⁶Innova Trends Survey 2024 (Global: Average of Brazil, Canada, China, France, Germany, India, Indonesia, Mexico, Spain, UK, US), Innova Database
⁷Innova Database, “Convenience Foods Health Claims, Asia, 2019-2023”
⁸Innova Database, “Convenience Foods New Product Launches by Country, Asia, 2019-2023”
⁹Innova Database, “Why do you typically consume ready meals?”, Asia, 2023
¹¹Innova Database, “Convenience Foods Top 10 Flavors”, Asia, 2019-2023
¹²Global, YoY 2022 vs 2023, Innova Database, Innova Flavor Survey 2023 (average of Brazil, Canada, China, France, Germany, India, Indonesia, Mexico, Spain, UK and US)
