Ready-to-Eat Meals Market to Cross USD 188 Billion by 2030

New York, US, May 12, 2022 (GLOBE NEWSWIRE) – Market Overview:

According to a Comprehensive Research Report by Market Research Future (MRFR), “Ready-to-Eat Meals Market Information by Type, Distribution Channel and Region – Forecast to 2030”, The market is estimated to acquire a size of over USD 188 billion by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 10.98% during the review timeframe.

Market Scope:

Ready-to-eat meals refer to the food items pre-cooked, precleaned, and usually packed and ready to be consumed without prior preparation or cooking. The ready-to-eat market has recorded substantial growth in the last few decades, especially during the global COVID-19 crisis. The young generation has been spending their money on convenient ready-to-eat products to fit their busy lifestyle. On the other hand, the market has also faced certain challenges as these food items cause obesity. The market’s growth is primarily credited to the launch of innovative organic ready meals. Furthermore, the factors such as establishing a robust distribution network, technological advancements, and launching new varieties of convenience food across the globe are also projected to catalyze the market’s growth over the coming years.

Competitive Analysis

The global ready-to-eat market has prominent players such as:

  • Conagra Foods Inc
  • Grupo Bimbo
  • General Mills. Inc
  • Greencore Group Plc
  • Premier Foods Plc
  • Tyson Foods, Inc.
  • Unilever
  • Associated British Foods Plc
  • Kerry Group

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Market USP Covered

Market Drivers

The global market for ready-to-eat meals has registered an enormous rise in the growth rate in the last few years. The major aspect causing an upsurge in the market’s growth is the wide range of food varieties available across the global market. Furthermore, the growing trend regarding convenience food consumption across the globe is another crucial parameter likely to boost the market’s growth over the coming years. the ready-to-eat meals are getting popular across the developing economies, given the rise in per capita income across these regions.

The integration of the latest technologies in the production process is projected to offer lucrative opportunities to market players across the globe. In addition, the launch of innovative flavors is also projected to support the market’s growth over the assessment era.

Market Restraints

Although there are several aspects propelling the ready-to-eat meals market’s growth, there are certain factors that may impede the market’s growth. The health complexity linked with the high consumption of ready-to-eat food is one of the prime challenges that the market face. These side effects associated with ready-to-eat meals can hamper the market’s growth globally. Furthermore, the launch of stringent regulations and guidelines across the market is also projected to be a major restraining factor for the market’s growth over the coming years. in addition, the rapid evolution of technology in the field is also likely to pose a challenge for the growth of the ready-to-eat meals market over the coming years.

COVID-19 Impact

The COVID-19 pandemic has had a major impact on the majority of the market sectors worldwide. The ready-to-eat meals market has had quite the opposite impact as others. The pandemic has had a positive impact on the ready-to-eat meals market. The high level of uncertainty led people across the globe to start stocking convenience food items surging the demand for these food items across the globe. The market is anticipated to grow substantially over the assessment era.

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Segment Analysis

The global market for ready-to-eat meals has been fragmented into several segments based on distribution channel, type, and region.

Based on type, the global market for ready-to-eat meals is split into soups, rice and noodles, pasta and pizzas, gravies and curries, salads, and others. The demand for the changing ready-to-eat meals is increasing rapidly on the global level. Among all, the rice & noodle segment is projected to secure the top position in the global ready-to-eat meals market over the forecasted era. The market’s growth is mainly credited to the awareness of organic ready-to-eat launches and the rise in the variety of products.

The global market for ready-to-eat meals is divided into non-store-based and store-based channels based on distribution channels. Convenience stores and, supermarkets & hypermarkets are the subsegments of the store-based channels segment. The MRFR analysis suggests that the store-based segment accounts for the largest revenue share over the assessment era. The segment’s growth is mainly credited to the rise in demand for convenience food.

Regional Analysis

The global market for ready-to-eat meals is examined across five major regions: Latin America, North America, Asia-Pacific, Europe, and the Middle East & Africa. All of these regions play a crucial role in the growth of the ready-to-eat meals market worldwide.

The MRFR analysis report suggests that the European region is projected to hold the top position in the global market for ready-to-eat meals over the assessment era. The regional market’s growth is mainly credited to the increasing trend revolving around convenience food items across the region. Furthermore, the easy availability of a variety of ready-to-eat meals is another major aspect propelling the regional market’s growth. The regional market is known to be home to many major global leaders that contribute to the strong market performance across the region.

The ready-to-eat meals market for the Asia-Pacific region is projected to grow substantially over the assessment timeframe. The regional market’s growth is mainly credited to the growing demand for handheld breakfast and frozen pizza. Furthermore, these meals have managed to attain equal fame as the foods found in restaurants and other places across the region, causing an upsurge in the growth of the regional market.

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