Market Overview:
Market Research Future (MRFR) has announced a new report on the global ready to eat meals market. The report examines the global ready to eat meals market’s growth prospects over the forecast period from 2022 to 2030 based on a solid analysis of the market’s historical development and the major drivers and restraints affecting the market’s movement at present times. The leading segments and major players in the global ready to eat meals market are also profiled in the report to provide readers with an accurate picture of the market’s granular structure. Leading players in the global ready to eat meals market are also profiled in the report to provide readers with a comprehensive picture of the market’s competitive landscape.
In 2021, the market for ready-to-eat meals was estimated to be worth USD 81.7 billion. During the projection period (2022 - 2030), the ready-to-eat meals market size is anticipated to expand from USD 90.6 billion in 2022 to USD 188.0 billion. This represents a compound yearly growth rate (CAGR) of 10.98%. The primary factors boosting the growth of the ready-to-eat meal market are rising trends in the consumption of convenience foods and the rise in customers' per capita disposable income.
Ready to eat meals are produced from animal or plant matter and can be consumed directly upon opening or after simply heating them once. The convenience of consuming ready to eat meals has made them highly popular around the world, with urban users in particular emerging as a highly valuable demographic for the ready to eat meals market. Ready to eat meals are often sold frozen, so that they can be easily stored for long periods of time. This has also become a major factor behind the rising demand for ready to eat meals, as urban users can store ready to eat meals in bulk without seeing them perish.
The growing incorporation of healthy food products in ready to eat meals is likely to be a major factor driving the global ready to eat meals market over the forecast period. Consumers around the world are increasingly looking to buy healthier foods that allow them to prevent diseases, which has given the ready to eat meals market a new dimension. Nutritious ready to eat meals are likely to become a major part of the global ready to eat meals market over the coming years, especially in developing countries.
Segmentation:
The global ready to eat meals market is segmented on the basis of product type, packaging, cuisine, specialty type, form, and region in the report.
The ready to eat meals market has been segmented on the basis of product type into ready meals and mixes, bakery products, noodles and pasta, non-alcoholic beverages, herbs and spices, soups, and others.
On the basis of packaging, the ready to eat meals market is segmented into can, box, bag, sachet, vacuum pack, and others.
On the basis of cuisine, the ready to eat meals market is segmented into Indian, Italian, Chinese, continental, and others.
On the basis of specialty type, the market is segmented into natural, preservative-free, vegetarian, non-vegetarian, and others.
On the basis of form, the ready to eat meals market is segmented into dried, frozen, instant, cooked, fresh, and others.
Regional Analysis:
The global ready to eat meals market is segmented regionally into North America, Europe, Asia Pacific, and rest of the world. North America is likely to hold the largest share in the global ready to eat meals market over the forecast period due to the growing popularity of ready to eat meals among the urban population in the region.
The growing urbanization in Asia Pacific is likely to be a major driver for the ready to eat meals market in the region. The growing population of the region and the growing immigration into urban centers is likely to drive the ready to eat meals market over the forecast period. The growing awareness among APAC consumers about ready to eat meals is also likely to be a major factor in the growth of the ready to eat meals market in the region over the forecast period.
Competitive Analysis:
Leading players in the global ready to eat meals market include General Mills (U.S.), Nomad Foods Ltd. (BVI), Premier Foods Group Ltd. (UK), ConAgra Foods Inc. (U.S.), ITC Limited (India), Orkla ASA (Norway), McCain Foods, and Bakkavor Group Ltd. (UK).
Industry Updates:
In December 2018, Singapore’s NTUC Foodfare launched a new line of ready to eat meals suitable for diabetic people. This could become a major aspect of the ready to eat meals market over the coming years, as the diabetic population is growing in regions such as Asia Pacific.
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