Top Consumer Trends Predicts Unparalleled Growth in Global Ready-to-eat Meals Market

March 2021 Market Research Future Research Report on Global Ready-to-eat Meals market.

Global Ready-to-eat Meals Market Overview

The ready-to-eat meals market industry is projected to grow from USD 90.6 Billion in 2022 to USD 188.0 billion by 2030, exhibiting a compound annual growth rate CAGR of 10.98% during the forecast period 2022 - 2030Increasing demand for convenience food has given impetus to the Ready-to-eat Meals market owing to which it is growing at an incremental pace of development on the global stage. Market Research Future, a firm which specializes in market reports related to the Food and Beverage sector among others, recently forecasted in its report on ‘Global Ready-to-eat Meals Market Research Report- Forecast to 2023’ that the market will demonstrate an exceptional growth during the forecast period.

The growing population of working couples and increasing disposable income in emerging economies has given a significant push to ready-to-eat meals market. In addition, the growing inclination of consumers towards convenience food have had a positive influence on the market growth. Ready-to-eat meals are precooked and prepackaged meals which can be consumed either directly or require minimum cooking. Busy and hectic lifestyles compelled consumers to opt for ready-to-eat Meals as the cooking time is reduced, thereby accelerating the demand for the product. These Meals are considered to be healthier alternative to junk food as well as are economical alternative to restaurant foods.

Specific guidelines related to processing, washing, drying, cooling, freezing, and packaging have been laid down by food safety organizations in different regions which impact ready-to-eat meals market. Furthermore, key manufacturers are progressively focusing on the packaging as it’s vital for maintaining the product quality, taste, texture, color, nutritious content, as well as helps in extending shelf life of the product. This is likely to augment ready-to-eat meals market during the forecast period.

Latest Industry Updates

Nov 2017 Eden Prairie, Minn.-based Supervalu Inc. introduced new line of Meals solutions, including Meals kits, under the Quick & Easy Meals brand.

Nov 2017 Fry’s Family Food has an all-new line of ready-to-eat frozen Meals in U.K.

June 2017 ALDI introduced a new range of ready-to-cook meals kits

Feb 2017 Thistle introduced Meals kits to prepare nutritious baby food at home.

Jan 2017 Oprah Winfrey teamed up with Kraft Heinz to form a joint venture-Meals time Stories to launch ready-to-eat meals.

Global Ready-to-eat Meals Market - Competitive Analysis

The key manufacturers have been continuously innovating for developing novel products in the market which has intensified competition. The key players are paying attention on packaging and advertising of the products to attract consumers. The key players have tied up with packaging companies to manufacture novel and innovative packaging such as biodegradable barrier tray to augment their consumer base. In addition, the companies are also offering natural and organic ready-to-eat food products with health benefits to capitalize on the growing health and wellness trend.

The key players operating in ready-to-eat meals are General Mills (U.S.), Bakkavor Group Ltd (U.K.), Nomad Foods Ltd (British Virgin Islands), McCain Foods (Canada), Premier Foods Group Ltd (U.K.), Orkla ASA (Norway), ConAgra Foods Inc. (U.S.) and ITC Limited (India) among many others.

Global Ready-to-eat Meals Market – Segments

The global Ready-to-eat Meals market has been divided into type, cuisine, category, and region.

On The Basis Of Type: Ready Meals & Mixes, Bakery, Prepared Meals, Noodles & Pasta, and Others

On The Basis Of Cuisine: Indian, Italian, Chinese, Continental, and Others

On The Basis Of Category: Vegetarian, and Non-Vegetarian

On The Basis Of Region: North America, Europe, Asia Pacific and ROW.

Global Ready-to-eat Meals Market Regional Analysis

The global Ready-to-eat meals market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global Ready-to-eat meals market is highly dominated by North America. The U.S. is the leading market in North America due to busy and hectic lifestyle, high disposable income and technological innovations. Europe is projected to be the second largest market for Ready-to-eat meals. The growth of the ready meals market in Europe is majorly supported by countries such as Spain, the U.K., France, Germany, and Russia.

Asia Pacific is the fastest growing market led by countries like China and India. The growing urbanization and rapidly changing consumption pattern in these developing countries has fuelled the market for Ready-to-eat meals in Asia Pacific.