all report title image
  • Published On : Oct 2022
  • Code : CMI4309
  • Industry : Consumer Goods
  • Pages : 120
  • Formats :

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.

Global ready to eat food market was valued at US$ 138407.62 Million in 2021 in terms of revenue, exhibiting a CAGR of 6.8 % during the forecast period (2022 to 2030).

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, 2021

Ready to Eat Food  | Coherent Market Insights

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.

CMI table icon

Ready to Eat Food Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 138407.62 Mn
Historical Data for: 2017-2020 Estimated Year: 2022
Forecast Period 2022 to 2030 CAGR: 6.8 % Forecast Period: 2022-2030
Geographies covered:
  • Region: 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
  • Growing penetration of various food manufacturer in the market 
Restraints & Challenges:
  • Growing demand for fresh and healthy foods among health-conscious consumers 

Market Trends

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 2. Global Ready to Eat Food Market Revenue Share (%), By Product Type, 2021

Ready to Eat Food  | Coherent Market Insights

Recent Developments

  • In July, 2021, Riviana Foods Inc., a business unit of Madrid, Spain-based Ebro Foods, launched Success Garden & Grains Blends, the first boil-in-bag product to combine rice with simple ingredients. Success Garden & Grains Blends are available in two varieties: White rice, black beans, corn and bell peppers, and white rice, peas, carrot and red bell peppers.​
  • In August, 2021, Nestlé-owned brand Freshly launched its first fully vegan meal line. Under its new Purely Plant menu, the chef-prepared meal delivery service will offer six options developed to showcase the nutritional benefits and delicious possibilities of plant-based foods.
  • In November 2020, the producers of seeds and nuts, Whitworths introduced plant-based ready meals that are suitable options for vegan consumers. Each 250g pack of the product contains 20g of plant protein from pulses and grains such as pinto beans, quinoa, lentils, and wheatberries.

Competitive Section

Major players operating in the global ready to eat food market include 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 is accounted for US$ 138407.62 Mn in terms of value by the end of 2021. 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, 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 an in-depth analysis of Global Ready to Eat Food Market size (US$ Million), and Compound Annual Growth Rate (CAGR %) for the forecast period (2022– 2030), considering 2021 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 Food 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 Food 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 Food Market

Detailed Segmentation:

  • Global Ready to Eat Food Market, By Product Type:
    • Meat/Poultry
    • Cereal Based
    • Vegetable Based
    • Others
  • Global Ready to Eat Food Market, By Packaging:
    • Canned
    • Frozen/Chilled
    • Retort
    • Others
  • Global Ready to Eat Food Market, By Distribution Channel:
    • Hypermarket/Supermarket
    • Convenience Stores/Departmental Stores
    • Specialty Stores
    • Online Stores
  • Global Ready to Eat Food Market, By Region:
    • North America
    • Western Europe
    • China
    • APEJ
    • MEA
    • Rest of the World
  • 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

Frequently Asked Questions

Global ready to eat food market was valued at around US$ 138407.62 Million in 2021.
Growing demand for convenience food around the globe is primarily fueling the market. 
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.
Major players operating in the 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 market is estimated to grow at around 6.8 % CAGR in the forecast period (2022-2030).

Related Reports

EXISTING CLIENTELE

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo