Ready-to-Eat Food Market 2030, By Product Type (Meat/Poultry Products, Cereal Based Products, Vegetable Based Products, Others), Packaging (Canned, Frozen or Chilled, Retort, Others), Distribution Channel (Hypermarkets and Supermarkets, Conventional Store, Online, Subscription Model, Others) and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits

Industry : FMCG | Pages : 184 Pages | Published On : Mar 2024

         
     

The Ready-to-Eat Food market was valued USD 395.9 Billion in 2023 and projected to reach USD 631.6 Billion by 2030, growing at a CAGR of 6.9% during the forecast period of 2023-2030.

Ready-to-Eat Food Market Size


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             2019                         2023-2030      

ReportDetails
Market Size ValueUSD 395.9 Billion in 2023
Market Size ValueUSD 631.6 Billion by 2030
CAGR6.9%
Forecast Period2023-2030
Historic Data2019
Forecast UnitsValue (USD Million/USD Billion)
Segments CoveredProduct Type, Packaging, Distribution Channel and Region
Geographics CoveredNorth America, Europe, Asia Pacific, and RoW

Major vendors in the global Ready-to-Eat Food market: Birds Eye Ltd., Findus Group Ltd., Nestle, Nomad Foods Ltd., Bakkavor Foods Ltd., General Mills Inc., McCain Foods, Premier Foods Group Ltd., Sisters Food Group, Greencore Group Plc, Orkla ASA, Teleflex Incorporated, Conagra Brands, Inc., Unilever, The Kraft Heinz Company, CSC Brand LP, Hormel Foods Corporation, Tyson Foods, Inc., Fleury Michon, Grupo Herdez Food Services, MTR Foods Pvt. Ltd., Gits Food Products Pvt. Ltd., Haldiram Snacks Pvt. Ltd., ITC Limited and Others.

Market Overview

The Global Ready-to-Eat (RTE) Food market occupies a pivotal role in the contemporary food industry, offering convenience and quick meal solutions to consumers with increasingly busy lifestyles. This market segment encompasses a diverse range of products, including pre-packaged meals, snacks, and beverages that require minimal preparation before consumption. The demand for RTE foods has surged due to factors such as changing consumer preferences, urbanization, and a growing focus on time-saving solutions. The market's significance extends beyond mere convenience, contributing substantially to the overall food ecosystem by fostering innovation in packaging, preservation technologies, and flavor profiles. As a result, RTE foods not only cater to the fast-paced modern life but also stimulate advancements in food processing and distribution, shaping the industry's landscape.

The RTE Food market benefits the food industry by tapping into evolving consumer needs, creating opportunities for manufacturers, retailers, and suppliers to adapt and thrive. This segment aligns with the demand for on-the-go nutrition and addresses the time constraints faced by individuals, thereby driving market growth. Additionally, the RTE Food market fosters global supply chain efficiencies, encouraging collaboration among diverse stakeholders in the food ecosystem. Its contribution to product diversification and technological advancements underscores its role as a key driver of industry evolution, making it a vital component in meeting the dynamic demands of today's consumers.

Changing Consumer Lifestyles

One of the primary drivers for the global ready-to-eat food market is the significant shift in consumer lifestyles. The fast-paced nature of modern life has led to an increased demand for convenient and easily accessible food options. Consumers, especially in urban areas, are facing time constraints due to hectic work schedules, commuting, and various other commitments. As a result, there is a growing preference for ready-to-eat foods that require minimal preparation time. The convenience offered by RTE foods aligns with the need for quick, hassle-free meal solutions. This trend is further accentuated by the rising number of dual-income households and the increasing urbanization worldwide. Manufacturers in the RTE food sector are capitalizing on this trend by innovating and introducing a diverse range of products that cater to different tastes and dietary preferences.

Market Dynamics

Drivers:

  • Busy Lifestyles
  • Urbanization
  • Increasing Disposable Income
  • Convenience and Time-saving

Opportunities:

  • Technological Advancements
  • Health and Wellness Trends
  • E-commerce Growth
  • Globalization and Cultural Diversity

Advancements in Food Processing Technologies

Technological advancements in food processing play a crucial role in propelling the growth of the global RTE food market. Continuous developments in food preservation and packaging technologies contribute to extending the shelf life of RTE products without compromising on taste and nutritional value. Novel processing techniques such as high-pressure processing, advanced dehydration methods, and modified atmosphere packaging enhance the quality and safety of RTE foods, addressing concerns related to food spoilage and contamination. Additionally, improvements in packaging materials ensure that these products remain fresh during transportation and storage. These technological innovations not only enhance the overall consumer experience but also enable manufacturers to meet stringent food safety standards. As consumers become more health-conscious, technological advancements also facilitate the production of RTE foods with reduced additives, preservatives, and healthier ingredient profiles, further expanding the market's appeal.

North America dominates the market for Ready-to-Eat Food.

North America stands out as the dominating region in the global ready-to-eat food market, with the United States leading in consumption and market share. The region's dominance can be attributed to the high prevalence of busy lifestyles, a strong culture of convenience, and a well-established food and beverage industry. The U.S. market particularly benefits from a diverse consumer base with a penchant for quick and convenient meal options.

Asia-Pacific, and specifically India, is emerging as a key player with substantial growth potential in the ready-to-eat food market. India's market is driven by a rising urban population, increasing disposable incomes, and a shift towards Westernized eating habits. The convenience factor aligns well with the fast-paced urban life in countries like India, making ready-to-eat foods increasingly popular. Additionally, government initiatives promoting the food processing sector and improvements in distribution channels contribute to the market's growth.

Another noteworthy region is the Middle East and Africa, where the demand for convenient food solutions is on the rise due to changing lifestyles and an expanding working-class population. South Africa, in particular, showcases promise as a market with high growth potential, driven by urbanization and a growing awareness of convenient food options.

The Canned Segments is anticipated to hold the Largest Market Share during the Forecast Period

In the global Ready-to-Eat Food market, the Packaging segment comprises various categories such as Canned, Frozen or Chilled, Retort, and Others. This segment's dominance can be attributed to its pivotal role in ensuring convenience, shelf stability, and preservation of the diverse range of ready-to-eat products. Canned packaging offers prolonged shelf life, while Frozen or Chilled packaging maintains product freshness. The Retort packaging method, involving heat-resistant pouches, contributes to both preservation and portability. The inclusion of other packaging methods reflects the industry's dynamic nature, adapting to evolving consumer preferences. The dominance of the Packaging segment underscores its crucial function in not only preserving the quality of ready-to-eat foods but also enhancing their accessibility, aligning with the modern consumer's demand for convenience and on-the-go options.

Segmentations Analysis of Ready-to-Eat Food Market: -

  • By Product Type
    • Meat/Poultry Products
    • Cereal Based Products
    • Vegetable Based Products
    • Others
  • By Packaging
    • Canned
    • Frozen or Chilled
    • Retort
    • Others
  • By Distribution Channel
    • Hypermarkets and Supermarkets
    • Conventional Store
    • Online
    • Subscription Model
    • Others
  • By Region
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
      • Chile
      • Peru
      • Rest of Latin America
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Russia
      • BENELUX
      • CIS & Russia
      • Nordics
      • Austria
      • Poland
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Thailand
      • Indonesia
      • Malaysia
      • Vietnam
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Nigeria
      • Egypt
      • Israel
      • Turkey
      • Rest of Middle East & Africa

Recent Developments

  • In 2021, Nomad Foods and Fortenova Grupa d. d. have reached an agreement for the cash purchase of Fortenova's Frozen Food Business Group (FFBG) for USD 724 million. The purpose of the acquisition is to broaden Nomad Foods' product line, as FFBG has a big distribution network in Eastern Europe and a variety of frozen meals.

Ready-to-Eat Food Market Report Gives Answers to Following Key Questions:

  • What will be the Ready-to-Eat Food Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of Ready-to-Eat Food Market?
  • What are the main forces behind the worldwide Ready-to-Eat Food Market? Which companies dominate the Ready-to-Eat Food Market?
  • Which companies dominate the Ready-to-Eat Food Market? Which business possibilities, dangers, and tactics did they embrace in the market?
  • What are the global Ready-to-Eat Food industry's suppliers' opportunities and dangers in Ready-to-Eat Food Market?
  • What is the Ready-to-Eat Food industry's regional sales, income, and pricing analysis? In the Ready-to-Eat Food Market, who are the distributors, traders, and resellers?
  • What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Ready-to-Eat Food Market?
  • What are the main geographical areas for various industries that are anticipated to observe an astounding expansion in Ready-to-Eat Food Market?
  • What are the dominant revenue-generating regions for Ready-to-Eat Food Market, as well as regional growth trends?
  • By the end of the forecast period, what will the market size and growth rate be?
  • What are the main Ready-to-Eat Food Market trends that are influencing the market's expansion?
  • Which key product categories dominate the Ready-to-Eat Food Market? What are the Ready-to-Eat Food Market’s main applications?
  • In the coming years, which Ready-to-Eat Food Market technology will dominate the market?

Reason to purchase this Ready-to-Eat Food Market Report:

  • Determine prospective investment areas based on a detailed trend analysis of the global Ready-to-Eat Food Market over the next years.
  • Gain an in-depth understanding of the underlying factors driving demand for different Ready-to-Eat Food Market segments in the top spending countries across the world and identify the opportunities each offers.
  • Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
  • Identify the major channels that are driving the global Ready-to-Eat Food Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
  • Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global Ready-to-Eat Food Market.
  • Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Ready-to-Eat Food Market providers worldwide, including information about their products, alliances, recent contract wins, and financial analysis wherever available.

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Methodology:

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Furthermore, our methodology incorporates technology-based research techniques, such as data mining, text analytics, and predictive modelling, to uncover hidden patterns, correlations, and trends within the data. This data-driven approach enhances the accuracy and reliability of our analysis, enabling us to make informed and actionable recommendations.

In addition, our analysts bring their industry expertise and domain knowledge to bear on the research process. Their deep understanding of market dynamics, emerging trends, and future prospects allows for insightful interpretation of the data and identification of strategic opportunities.

To ensure the highest level of quality and reliability, our research process undergoes rigorous validation and verification. This includes cross-referencing and triangulation of data from multiple sources, as well as peer reviews and expert consultations.

The result of our 360° Research Methodology is a comprehensive and robust research report that empowers you to make well-informed business decisions. It provides a panoramic view of the industry landscape, helping you navigate challenges, seize opportunities, and stay ahead of the competition.

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