Ready to eat food is defined as an animal and plant-derived food that is washed, cooked, frozen and processed to be consumed directly after heating. The process saves time and energy of the consumers. People now prefer nutritional small quantity of ready to eat food rather than traditional large meals due to the busy lifestyle.
Market Size & Forecast
Global ready to eat food market is expected to reach USD 172 billion by the end of 2023 witnessing a promising compound annual growth rate of 7.3% over the forecast period owing to the changing lifestyle of consumers.
North-America holds the largest consumer base Of Ready To Eat Food Market across the globe and is estimated to represent highest value share of 42% by the end of 2016 owing to the technological innovations, busy lifestyle of consumers and high personal disposable income.
Asia-Pacific is estimated to hold 18.3% market share in 2016, however, the market share is anticipated to reach 21.0% by the end of 2023 owing to the increasing employment opportunities and rising personal disposable income of middle-class consumers in developing countries.
In 2015, Meat and poultry product segment stood for the largest market share in terms of revenue and is anticipated to attain 46.0% value share in 2016. Frozen ready meals segment is likely to expand at a CAGR of 9.0% over the period of forecast i.e. 2016-2023.
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Ready to eat food market is likely to expand at a higher pace owing to high consumer acceptance for such foods globally. Ready to eat food products are more popular among the younger working class consumers as they hardly find time to cook food due to their busy lifestyle. Owing to expand the market among these consumers, ready to eat food manufacturers are focused on providing low-cost affordable products.
By product type, the market can be segmented into following categories:-
- Meat/Poultry Products
- Cereal Based Products
- Vegetable Based Products
On the basis of technology used for packaging of product, the market can be segmented into following categories:-
- Frozen or Chilled
By Distribution Channel
By end-use distribution channel, the market can be segmented into following categories:-
- Convenience/Departmental Store
- Specialty Store
- Online Store
Global Ready to Eat Food Market is further classified on the basis of a region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis
- The Middle East and Africa
Growth Drivers and Challenges
Increasing number of nuclear families, rising employment opportunities coupled with increasing number of working women are some of the major factors that will fuel the growth of Global Ready To Eat Food Market over the forecast period.
Rising personal disposable income coupled with the busy lifestyle of working-class consumers will further boost the demand for ready to eat food products across the globe.
Rapid urbanization has reduced the time to cook food at home, innovative ready to eat food product offering such as nutritional and rich ingredient products resulted into the inclination of consumer behavior towards the use of ready to eat food further boosting the global ready to eat food market across the globe.
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Rising health consciousness towards the use of cooked and fresh food along with the government regulations towards the procurement of raw material such as meat and vegetables are the main factors expected to restrain market growth in future.
- Nomad Foods Ltd.
- Bakkavor Foods Ltd.
- General Mills Inc.
- McCain Foods.
- Premier Foods Group Ltd.
- 2 Sisters Food Group.
- Greencore Group Plc.
- Orkla ASA
- ConAgra Foods Inc.
- Teleflex Incorporated
Scope and Context
Overview of the Parent Market
- By Product Market Size & Y-O-Y Growth Analysis
- By Packaging Market Size & Y-O-Y Growth Analysis
- By Distribution Channels Market Size & Y-O-Y Growth Analysis
Global Ready to Eat Food Market has been studied in countries and regions like:
- North America (U.S., Canada) Market Size & Y-O-Y Growth Analysis
- Latin America (Mexico, Brazil, Rest of Latin America) Market Size & Y-O-Y Growth Analysis
- Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe) Market Size & Y-O-Y Growth Analysis
- Asia-Pacific (China, India, Singapore, Japan, Australia & New Zealand & Rest of Asia) Market Size & Y-O-Y Growth Analysis
- The Middle East and North Africa (MENA) Market Size & Y-O-Y Growth Analysis
- Rest of World Market Size & Y-O-Y Growth Analysis
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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