Ready To Eat Food Market

Ready To Eat Food Market by Product Types (Instant Breakfast/Cereals, Instant Soups & Snacks, Ready Meals, Baked Goods, Meat Products, and Others), Distribution Channels (Hypermarkets/Supermarkets, Convenience Stores, Online Retailers, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: FB-1168
  • Author: Growth Market Reports
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The global ready to eat food market size was valued at USD 193 billion in 2019 and is expanding at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the COVID-19 pandemic, wherein customers disliked cooking.
 

Ready To Eat Food Market Key Takeaways


Ready-to-eat foods are precooked, pre-cleaned, and primarily packed foods that require no preparation or cooking before consumption. Ready-to-eat food is a type of packed prepared food that does not require any additional processing to ensure quality. It may be frozen, shelf-stable, and only requires minor heating or served hot. Some foods must be kept refrigerated until consumed, while others require specific care to ensure food safety.

With most individuals working from home and countries under lockdown, ready-to-cook meal products have been flying off the shelves in recent months. Grofers, an online grocery shop headquartered in India, reported a 170 per cent increase in sales in the ready-to-eat category, 31% in the ready-made meals and mixes area, and 41% in the frozen food category, showing a rapid consumer shift away from home-cooking. Indeed, it is predicted that this shift in consumer behavior would considerably boost the market studied in 2021 when compared to 2019. Young people spend the majority of their money on easy ready-to-eat foods. For ready-to-eat food manufacturing behemoths, young customers are the easiest prey. Ready-to-eat food is regarded as the most convenient alternative to conventional meals, as it may be consumed at any time (such as during breakfast, lunch, or dinner). The industry is being driven by regulatory authority activities, such as the Singapore Health Promotion Board's continuous promotional efforts to raise awareness of frozen meals and fish products.

The recent development of individual quick-freezing technology helps to freeze meat and poultry products at -30°C to – 40°C temperature, which preserves meat and poultry products.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing coronavirus infections resulting in restaurants having restricted services is expected to drive the market growth during the forecast period.
  • Simplicity of the use of such goods and consumer habits are anticipated to fuel market expansion in the coming years.
  • Growing support from regulatory authorities is estimated to spur market growth in the coming years.
  • Rising number of failed ready-to-eat food quality tests as well as poor sensory qualities of ready-to-eat food are projected to hinder market expansion.
  • Growing health concerns among all generations anticipated restricting the market growth.

Scope of the Report

The report on the global ready to eat food market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Ready To Eat Food Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Product Types (Instant Breakfast/Cereals, Instant Soups & Snacks, Ready Meals, Baked Goods, Meat Products, and Others) and Distribution Channels (Hypermarkets/Supermarkets, Convenience Stores, Online Retailers, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Nomad Foods; Bakkavor Group plc; General Mills Inc.; McCain Foods India Pvt. Ltd; Premier Foods Group Limited; 2 Sisters Food Group.; Greencore Group plc; Orkla; Conagra Brands, Inc.; BIRDS EYE LIMITED; FINDUS; ITC Limited; Nestle; Unilever; Vinayak Foods Group; The Kraft Heinz Company; CSC BRANDS; L.P.; Hormel Foods Corporation; Tyson Foods, Inc.; and Fleury Michon

 

Market Segment Insights

Meat products segment is projected to account for a key market share
Based on product types, the ready to eat food market is divided into Instant breakfast/cereals, instant soups & snacks, ready meals, baked goods, meat products, and others. The meat products segment is expected to account for a key share of the market during the forecast period owing to the development of basic infrastructure in various developing countries. Furthermore, with easy availability of storage space and affordable prices over other ready-to-eat food products, this segment is anticipated to hold the largest market share. Moreover, the introduction of new concepts such as covering the meat and poultry-based goods with vegetable and cereal-based products to increase nutritional value, are expected to drive the market growth.
 

Ready To Eat Food Market by Product Types


Hypermarkets/Supermarkets segment is expected to expand at a significant pace
In terms of distribution channels, the ready to eat food market is segregated into hypermarkets/supermarkets, convenience stores, online retailers, and others. The hypermarkets/supermarkets segment is expected to account for a key share of the market in the coming years owing to retail behemoths like Walmart, Tesco, 7Eleven, and Aldi extending their locations internationally and boosting their product choices to entice customers.

North America is expected to dominate the market
On the basis of regions, the ready to eat food market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to dominate the market CAGR during the forecast period. The regional market growth can be attributed to the rising demand for frozen pizza and portable breakfast.
 

Ready To Eat Food Market by Regions

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Ready To Eat Food Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Ready To Eat Food Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Ready To Eat Food Market - Supply Chain
  4.5. Global Ready To Eat Food Market Forecast
     4.5.1. Ready To Eat Food Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Ready To Eat Food Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Ready To Eat Food Market Absolute $ Opportunity
5. Global Ready To Eat Food Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Ready To Eat Food Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Ready To Eat Food Demand Share Forecast, 2019-2026
6. North America Ready To Eat Food Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Ready To Eat Food Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Ready To Eat Food Demand Share Forecast, 2019-2026
7. Latin America Ready To Eat Food Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Ready To Eat Food Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Ready To Eat Food Demand Share Forecast, 2019-2026
8. Europe Ready To Eat Food Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Ready To Eat Food Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Ready To Eat Food Demand Share Forecast, 2019-2026
9. Asia Pacific Ready To Eat Food Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Ready To Eat Food Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Ready To Eat Food Demand Share Forecast, 2019-2026
10. Middle East & Africa Ready To Eat Food Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Ready To Eat Food Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Ready To Eat Food Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Ready To Eat Food Market: Market Share Analysis
  11.2. Ready To Eat Food Distributors and Customers
  11.3. Ready To Eat Food Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Nomad Foods
     11.4.2. Bakkavor Group plc
     11.4.3. General Mills Inc.
     11.4.4. McCain Foods India Pvt. Ltd
     11.4.5. Premier Foods Group Limited
     11.4.6. 2 Sisters Food Group.

Segments Covered in the Report
The global ready to eat food market has been segmented on the basis of

Product Types

  • Instant Breakfast/Cereals
  • Instant Soups & Snacks
  • Ready Meals
  • Baked Goods
  • Meat Products
  • Others

Distribution Channels

  • Hypermarkets/Supermarkets
  • Convenience Stores
  • Online Retailers
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Nomad Foods
  • Bakkavor Group plc
  • General Mills Inc.
  • McCain Foods India Pvt. Ltd
  • Premier Foods Group Limited
  • 2 Sisters Food Group.
  • Greencore Group plc
  • Orkla
  • Conagra Brands, Inc.
  • BIRDS EYE LIMITED
  • FINDUS
  • ITC Limited
  • Nestle
  • Unilever
  • Vinayak Foods Group
  • The Kraft Heinz Company
  • CSC BRANDS
  • L.P.
  • Hormel Foods Corporation
  • Tyson Foods, Inc.
  • Fleury Michon

 

Key players competing in the global ready to eat food market include Nomad Foods; Bakkavor Group plc; General Mills Inc.; McCain Foods India Pvt. Ltd; Premier Foods Group Limited; 2 Sisters Food Group.; Greencore Group plc; Orkla; Conagra Brands, Inc.; BIRDS EYE LIMITED; FINDUS; ITC Limited; Nestle; Unilever; Vinayak Foods Group; The Kraft Heinz Company; CSC BRANDS; L.P.; Hormel Foods Corporation; Tyson Foods, Inc.; and Fleury Michon.
 

Ready To Eat Food Market by Key Players

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