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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Definition of Market/Industry:

Ready to eat food are ready meal that is convenient to consume as they help in saving time and efforts. Such foods have longer shelf-life and can be classified into canned, frozen, and retort. They are widely available across convenience/departmental stores, hyper/supermarket, and specialty stores.

The global ready to eat food market was accounted for US$ 122,488 Mn in terms of value by the end of 2019.

Drivers:

Growing demand for convenience food around the globe is primarily fueling the market growth of the ready to eat food. This is due to the hectic lifestyle of the consumer along with the increasing working women around the globe. Moreover, growing disposable income of the consumer which is encouraging them to spend on convenience food is further expected to foster the market growth of the ready to eat food over the forecast timeframe.

Rapid urbanization and improving consumer lifestyles are projected to fuel the market growth of the ready to eat food. Moreover, growth in the food processed industry is also contributing to the market growth of the ready to eat food. Growing penetration of various food manufacturer in the market is again expected to foster the market growth of the ready to eat food over the forecast timeframe. 

Figure 1. Global Ready to Eat Food Market, Revenue Share (%), By Region, 2019

Ready to Eat Food  | Coherent Market Insights

Statistics:

North America region dominated the global ready to eat food market in 2019, accounting for 40.2% share in terms of value, followed by APEJ and Western Europe, respectively.

Market Restraints

Growing demand for fresh and healthy foods among health-conscious consumers is expected to restrict the market growth of the ready to eat food. According to the Coherent Market Insights analysis, ready to eat foods in some countries such as Canada and Japan are viewed as convenient options and perceived to be unhealthy and are consumed when there is a lack of other options as they are overly processed.

Increasing strict rules and regulations regarding the ingredients present in the ready-to-eat food products is projected to negatively impact the market growth over the forecast timeframe.

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Ready to Eat Food Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 122,488 Mn
Historical Data for: 2017 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 7.2% 2027 Value Projection: US$ 209,366 Mn
Geographies covered:
  • North America, Western Europe, Eastern Europe, China, APEJ, MEA, Japan
Segments covered:
  • By Product Type: Meat/Poultary, Cereal Based, Vegetable Based, and Others
  • By Packaging: Canned, Frozen/Chilled, Retort, and Others
  • By Distribution Channel: Hypermarkets and Supermarkets, convenience Stores\Departmental Stores, Specialty Stores and Online Stores
Companies covered:

Nomad Foods Ltd., Bakkavor Foods Ltd., General Mills, McCain Foods, Premier Foods Group Ltd., 2 Sisters Food Group, Greencore Group Plc.,Orkla ASA, ConAgra Foods Inc., ITC Limited

Growth Drivers:
  • Growing demand for convenience food around the globe is primarily fueling the market growth of the ready to eat food.
  • Growing penetration of various food manufacturer in the market drives the market growth.
Restraints & Challenges:
  • Growing demand for fresh and healthy foods among health-conscious consumers is expected to restrict the market growth of the ready to eat food.

Market Opportunities

The advent of organic and natural ready-to-eat food products is expected to serve potential growth opportunities to the market of ready-to-eat food. For instance, in March 2019, Applegate launched two types of organic burgers blended with meat and mushrooms at Natural Products Expo West. The Great Organic Blend Burger offers both a turkey and a 100% grass-fed beef variety. Moreover, the new product contains only humanely raised organic meat or poultry, organic mushrooms, and rosemary extract.

The growing focus of the manufacturer to develop ready-to-eat food products with innovative and attractive packaging to increase the consumer base is expected to provide lucrative opportunities to the market. Also, various manufacturers are focusing on offering ready-to-eat food in bio-based packaging materials due to rising environmental concern and need to promote environmental sustainability is expected to augur the market growth over the forecast period.

Figure 2. Global Ready to Eat Food Market – Opportunity Analysis

Ready to Eat Food  | Coherent Market Insights

Statistics:

Global ready to eat food market was valued at US$ 122,488 million in 2019 and is forecast to reach a value of US$ 209,366 million by 2027 at a CAGR of 7.2% between 2019 and 2027.

Market Trends/Key Takeaways

Frozen and chilled meals such as frozen pizza and meals are gaining popularity across the globe. This is expected to foster the market growth of ready-to-eat food. Moreover, increasing consumption of canned meals coupled with the growing demand for dried products such as instant pasta and noodles are further anticipated upsurge the market growth over the forecast period.

Ready-to-eat food products have become a meal replacement trend among the young population due to their taste and convenience. This is expected to stimulate the market growth of the ready-to-eat. Moreover, advancement in freezing technology coupled with the increasing number of consumers visiting quick-service restaurants and mom & pop stores are again anticipated to accelerate the market growth of the ready-to-eat snacks in the near future.

Figure 3. Global Ready to Eat Food Market, Revenue Share (%), By Product Type, in 2019

Ready to Eat Food  | Coherent Market Insights

The meat/poultry segment dominated the global ready to eat food market in 2019, accounting for 45.9% share in terms of value, followed by cereal based and vegetable based segment respectively

Regulations

North America

U.S. Regulations: Guidelines to control Listeria monocytogenes (L. monocytogenes) in refrigerated or frozen ready-to-eat (RF-RTE) foods

These guidelines help manufacturers to:

  • Prevent the growth of L. monocytogenes;
  • Treatment of foods to destroy viable cells of L. monocytogenes;
  • Controls on ingredients;
  • Controls on storing RF-RTE foods

Global Ready to Eat Market - Impact of Coronavirus (Covid-19) Pandemic

The novel Coronavirus (COVID-19) has impacted almost all the industries globally including food and beverage industry. Rising demand for packed food products owing to rising health and hygiene awareness supports the growth of the ready to eat food market globally.

Competitive Section:

Company Names 

  1. Nomad Foods Ltd. 
  2. Bakkavor Foods Ltd.
  3. General Mills
  4. McCain Foods
  5. Premier Foods Group Ltd.
  6. 2 Sisters Food Group
  7. Greencore Group plc
  8. Orkla ASA
  9. ConAgra Foods Inc.
  10. ITC Limited

Few Recent Developments

General Mills

In January 2018, General Mills Inc. has invested in a California food company that specializes in plant-based ready-to-eat meals, snacks, and cold-pressed juices.

The Global Ready to Eat Retort Market is accounted for US$ 122,488 Mn in terms of value by the end of 2019. Ready to eat food are ready meal that is convenient to consume as they help in saving time and efforts. Such foods have longer shelf-life and can be classified into canned, frozen, and retort.

Market Dynamics

Consumer interest in ready-to-eat (RTE) snack and ready-to eat food is growing due to their convenience, value, attractive appearance, taste and texture. Moreover, rising per capita income of consumers globally also supports the market growth. Increased employment opportunities have augmented migration of people from tier 1 and tier 2 cities to metropolitans that is further expected to drive the overall RTE food market over the forecast period. 

North America is expected dominate the ready to eat food market over the forecast period owing to increased demand for convenience and packed food products. For instance, The reports by Credit Suisse, a leading financial services company suggests that Grocery chains and key food products manufacturers such as Tyson Foods, Inc., J.M. Smucker Co., Hormel Foods Corp., and Kraft Heinz Co. have witnessed 50% increase in the sales of food and beverage in the month of March, 2020.

Key features of the study:

  • This report provides in-depth analysis of Global Ready to Eat Retort Market size (US$ Million), and Compound Annual Growth Rate (CAGR %) for the forecast period (2020 – 2027), considering 2019 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
  • It profiles leading players in the Global Ready to Eat Retort Market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study includes Nomad Retorts Ltd., Bakkavor Retorts Ltd., General Mills, McCain Retorts, Premier Retorts Group Ltd., 2 Sisters Retort Group, Greencore Group Plc.,Orkla ASA, ConAgra Retorts Inc., ITC Limited
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding their future product launches, product up-gradation, market expansion, and marketing tactics
  • The Global Ready to Eat Retort Market report caters to various stakeholders in this industry including investors, suppliers, global fatty acid ester manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analysing the Global Ready to Eat Retort Market

Detailed Segmentation:

  • Global Ready to Eat Retort Market, By Product Type:
    • Meat/Poultry
    • Cereal Based
    • Vegetable Based
    • Others
  • Global Ready to Eat Retort Market, By Packaging:
    • Canned
    • Frozen/Chilled
    • Retort
    • Others
  • Global Ready to Eat Retort Market, By Distribution Channel:
    • Hypermarket/Supermarket
    • Convenience Stores/Departmental Stores
    • Specialty Stores
    • Online Stores
  • Global Ready to Eat Retort Market, By Region:
    • North America
      • By Product Type
        • Meat/Poultry
        • Cereal Based
        • Vegetable Based
        • Others
      • By Packaging
        • Canned
        • Frozen/Chilled
        • Retort
        • Others
      • By Distribution Channel
        • Hypermarket/Supermarket
        • Convenience Stores/Departmental Stores
        • Specialty Stores
        • Online Stores
    • Western Europe
      • By Product Type
        • Meat/Poultry
        • Cereal Based
        • Vegetable Based
        • Others
      • By Packaging
        • Canned
        • Frozen/Chilled
        • Retort
        • Others
      • By Distribution Channel
        • Hypermarket/Supermarket
        • Convenience Stores/Departmental Stores
        • Specialty Stores
        • Online Stores
    • Eastern Europe
      • By Product Type
        • Meat/Poultry
        • Cereal Based
        • Vegetable Based
        • Others
      • By Packaging
        • Canned
        • Frozen/Chilled
        • Retort
        • Others
      • By Distribution Channel
        • Hypermarket/Supermarket
        • Convenience Stores/Departmental Stores
        • Specialty Stores
        • Online Stores
    • China
      • By Product Type
        • Meat/Poultry
        • Cereal Based
        • Vegetable Based
        • Others
      • By Packaging
        • Canned
        • Frozen/Chilled
        • Retort
        • Others
      • By Distribution Channel
        • Hypermarket/Supermarket
        • Convenience Stores/Departmental Stores
        • Specialty Stores
        • Online Stores
    • APEJ
      • By Product Type
        • Meat/Poultry
        • Cereal Based
        • Vegetable Based
        • Others
      • By Packaging
        • Canned
        • Frozen/Chilled
        • Retort
        • Others
      • By Distribution Channel
        • Hypermarket/Supermarket
        • Convenience Stores/Departmental Stores
        • Specialty Stores
        • Online Stores
    • MEA
      • By Product Type
        • Meat/Poultry
        • Cereal Based
        • Vegetable Based
        • Others
      • By Packaging
        • Canned
        • Frozen/Chilled
        • Retort
        • Others
      • By Distribution Channel
        • Hypermarket/Supermarket
        • Convenience Stores/Departmental Stores
        • Specialty Stores
        • Online Stores
    • Rest of the World
      • By Product Type
        • Meat/Poultry
        • Cereal Based
        • Vegetable Based
        • Others
      • By Packaging
        • Canned
        • Frozen/Chilled
        • Retort
        • Others
      • By Distribution Channel
        • Hypermarket/Supermarket
        • Convenience Stores/Departmental Stores
        • Specialty Stores
        • Online Stores
  • Company Profiles
    • Nomad Retorts Ltd.
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Bakkavor Retorts Ltd.
    • General Mills
    • McCain Retorts
    • Premier Retorts Group Ltd.
    • 2 Sisters Retort Group
    • Greencore Group plc
    • Orkla ASA
    • ConAgra Retorts Inc.
    • ITC Limited

 “*” marked represents similar segmentation in other categories in the respective

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Packaging
      • Market Snippet, By Distribution Channel
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • PEST Analysis
      • PORTER’s Analysis
      • Key Developments
  4. Global Ready to Eat Food Market- Impact of Coronavirus (Covid-19) Pandemic
    • Overview
    • Factors Affecting Global Ready to Eat Food  Market– COVID-19
  5. Global Ready to Eat Food Market, By Product Type, 2017 - 2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Meat/Poultry
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
    • Cereal Based
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
    • Vegetable Based
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
    • Others
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 – 2027
  6. Global Ready to Eat Food Market, By Packaging, 2017 - 2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Canned
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
    • Frozen or Chilled
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
    • Retort
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
    • Others
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 – 2027
  7. Global Ready to Eat Food Market, By Distribution Channel, 2017 - 2027 (US$ Million))
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Hypermarkets/Supermarkets
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
    • Convenience/Departmental Stores
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
    • Specialty Stores
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
    • Online Stores
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
  8. Global Ready to Eat Food Market, By Region, 2017- 2027 (US$ Million))
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2020 - 2027
    • North America
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
      • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million))
      • Market Size and Forecast, By Packaging, 2017- 2027 (US$ Million))
      • Market Size and Forecast, By Distribution Channel, 2017- 2027 (US$ Million))
    • Europe
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
      • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million))
      • Market Size and Forecast, By Packaging, 2017- 2027 (US$ Million))
      • Market Size and Forecast, By Distribution Channel, 2017- 2027 (US$ Million))
    • China
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
      • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million))
      • Market Size and Forecast, By Packaging, 2017- 2027 (US$ Million))
      • Market Size and Forecast, By Distribution Channel, 2017- 2027 (US$ Million))
    • Asia Pacific
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
      • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million))
      • Market Size and Forecast, By Packaging, 2017- 2027 (US$ Million))
      • Market Size and Forecast, By Distribution Channel, 2017- 2027 (US$ Million))
    • Latin America
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
      • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million))
      • Market Size and Forecast, By Packaging, 2017- 2027 (US$ Million))
      • Market Size and Forecast, By Distribution Channel, 2017- 2027 (US$ Million))
    • Rest of the World
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
      • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million))
      • Market Size and Forecast, By Packaging, 2017- 2027 (US$ Million))
      • Market Size and Forecast, By Distribution Channel, 2017- 2027 (US$ Million))
  9. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • Nomad Foods Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Bakkavour Foods Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • General Mills
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • McCain Foods
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Premier Foods Group Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • 2 Sisters Food Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Greencore Group plc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Orkla ASA
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • ConAgra Foods Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • ITC Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • References
      • Research Methodology
      • About us and Sales Contact
FAQgrowicon

Frequently Asked Questions

The market for global ready to eat food is forecast to surpass US$ 209,366 million by 2027 witnessing a CAGR of 7.2% between 2020 and 2027.
Growing demand for convenience food around the globe is primarily fueling the market growth of the ready to eat food.
Ready-to-eat food products have become a meal replacement trend among the young population due to their taste and convenience.
Growing demand for fresh and healthy foods among health-conscious consumers is expected to restrict the market growth of the ready to eat food.
Major players operating in the global ready to eat food market Nomad Foods Ltd., Bakkavor Foods Ltd., General Mills, McCain Foods, Premier Foods Group Ltd., 2 Sisters Food Group, Greencore Group Plc.,Orkla ASA, ConAgra Foods Inc., ITC Limited
The global ready to eat food market was valued at US$ 122,488 million in terms of revenue in 2019.
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