Global Ready Meals Market is valued at approximately USD 143.86 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.10% over the forecast period 2022-2029.
Ready Meals are such type of meal which is pre-packaged & pre-meals that can be consumed with less time or no preparation to cook and these meals provide healthier alternatives to junk food and cheaper alternatives to eat. The Ready Meals market is expanding because of factors such as increasing working populations and rising disposable income. However, the foremost key factor is increasing the working population owing to that they only heat before eating and thatreduces the effort of cooking which boost the market demand for ready meal market over the world. Moreover, another key factor driving is increasing disposable income, owing that it increases the purchasing power of people due to increase market growth across the world.
According to Statista, the number of employees in the year 2020 is USD 3.19 billion and the number of employees in the year 2021 is USD 3.29 billion. Therefore, it increases the market demand. Another key factor driving this is rising disposable income. For instance, according to Statista, the disposable income in the year 2020 is USD 1567.8 billion and the disposable income in the year 2021 is USD 16018.8 billion. The opportunity of the ready meal market is serving low-cost alternatives to junk food due to an increase in the market demand over the forecast period. However, negative perception about the health effects of people stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Ready Meals Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the marketin terms of revenue, owing to the dominance of growing health awareness, increasing concern for food safety, and increasing demand for ready-to-eat food which boosts the market demand. Asia Pacific is expected to grow with the highest CAGRduring the forecast period, owing to factors such as increasing working population, rising consumer disposable income and rising awareness about ready meals would create lucrative growth prospects for the Ready Meal market across Asia Pacific region.
Major market players included in this report are:
General Mills, Inc.
Conagra Brands, Inc.
Tyson Foods, Inc.
Dr. August Oetker KG
Nomad Foods Ltd
Green Mill Foods
Hindustan Unilever Ltd
2 Sisters Food Group Limited
Recent Developments in the Market:
In August 2020, ready meal manufacturer Symington's launched its own D2C platform. The new platform would sell pasta, rice and noodles in new packages.
In February 2022, Kitchen Prep, a new ready meal startup in the United Kingdom was launched offering frozen healthy gourmet pre-packaged meals.
Global Ready Meals Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Product, Meal, Distribution Channel, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Distribution Channel:
Supermarkets & Hypermarkets
Rest of the World