Please Wait.....
Report
Asia-Pacific Ready-to-Eat Food - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 90 Pages I Mordor Intelligence
The Asia-Pacific ready-to-eat food market was valued at USD 126.87 billion for the current year and is projected to register a CAGR of 4.54% over the next five years.
Key Highlights
-The ready-to-eat-food market is experiencing significant growth. As a result of the new hybrid working patterns and hectic consumer lifestyles point to a larger number of frozen ready meals being consumed in the foreseeable future. Due to fast-paced lifestyles, the need for a quick meal or snack among adults has been driving the demand for healthy and convenient food that can be consumed instantly. Frozen food products are considered beneficial as they can be cooked within less time for consumption. These factors have been propelling the market growth. The ready-to-eat-food market is driven by the increasing demand for convenience and healthy food options.
-Additionally, the trend towards more plant-based/vegan ingredients and the use of sustainable packaging with less plastic and waste is continuing to change the way packaged food boxes are perceived overall. Therefore, brands are under more pressure to provide better products for the environment. For instance, in May 2022, Plix announced its plans to expand its product portfolio by launching its plant-based snackable functional foods in India. The company claims that the Plix'ssnackable useful food range includes High Protein Peanut Butter With 25G Plant Protein & Superfoods, Lean Fudge Bar Chocolate 5G Protein, Brain Fudge Bar Mocha Fudge 5G Protein, and Skin Fudge Bar Berry Blast with 5G Protein. All of its products claim to be plant-based, chemical and preservative-free products. Therefore, sustainable Ready-to-Eat Food products further drive the market in this region.
APAC Ready to Eat Food Market Trends
Rising Demand For Ready Meals Food Products to Influence Growth
- The convenience offered by ready-to-eat meals has been a significant driver of their growth in popularity, as they save time and require minimal effort to prepare. Additionally, an increasing number of individuals, particularly working professionals and students, prefer these products over restaurant meals due to the money saved and the fact that they only need to be heated before consumption.
- However, the popularity of packaged foods and ready-to-eat meals has also led to concerns about their taste and nutritional value. In recent years, the packaged food industry has evolved to offer better quality food options with simpler preparation methods, contributing to the market's growth for ready-to-eat meals. Several Indian companies, including MTR, Gits, Haldiram, and Bikano, are also trying to tap into the food industry's potential by improving the quality of their products and expanding their utility.
- Quick commerce, or q-commerce, is a significant driver of the growth in sales of ready meals. Local delivery service players have been quick to meet the growing demand for fast and convenient delivery of small quantities of goods to customers. Additionally, consumers cannot travel freely, so they are more willing to explore different cuisines and flavors, including ethnic and exotic tastes. The growing awareness and adoption of global trends have also contributed to the popularity of plant-based foods, including ready meals, which have gained a recognizable niche market.
- For instance, in April 2023, Float Foods, a pioneer in plant-based food technology and innovation, announced the launch of its two latest products at the Food & Hotel Asia (FHA) exhibition at the Singapore Expo. The new product launch includes Asia's first plant-based poached egg and plant-based yolk. Hence, these factors positively affect the market in the Asia-Pacific region.
India holds Major Share in the Asia-Pacific Region
- The popularity of convenient foods has significantly increased in recent times, particularly among working-class people, teenagers, hostel residents, and bachelors. As a result, manufacturers are continuously launching innovative products to meet the consumer's needs. For instance, in March 2021, Hyderabad-based Instahot Foods Private Limited launched The Taste Company (TTC) brand, which offers a delectable menu of ready-to-eat Indian food products for breakfast as well as meals.
- The company claims that it is the first brand in the country to offer non-vegetarian varieties, including chicken rice, in the instant food category. Further, the company also announced its plans to launch its two new ready-to-eat food products, including chicken biryani and Gongura chicken biryani.
- Moreover, hypermarkets and supermarkets are the primary distribution channels for RTE food in India. The wider availability of products under one roof, ranging from soup to ready-to-eat food products, has fueled the growth in the sales channel. Supermarkets sell products at competitive prices and offer discounts to expand their consumer base. However, despite the growing demand for convenience on-the-go snack food in the market, some consumers are more health-conscious.
- The rising prevalence of lifestyle disorders such as atherosclerosis, stroke, diabetes, and obesity has increased the inclination toward healthy snack products such as nuts, fruit snacks, snack bars, and other confectionery snack products. Therefore, all the above-mentioned factors drive the Ready-to-eat food market across the country.
APAC Ready to Eat Food Industry Overview
The Asia-Pacific market for ready-to-eat food is highly competitive, with numerous domestic and multinational players vying for a larger share of the market. The key players are adopting strategic approaches such as mergers, acquisitions, partnerships, and expansions, as well as focusing on new product development to enhance their brand presence among consumers. The leading companies dominating the regional market include PepsiCo Inc., Nestle, Kellogg's Company, Pondok Abang, and Unilever, among others. Further, the companies have been introducing new and innovative products with the inclusion of naturally derived ingredients so as to make their product unique from the existing products. Owing to the rapidly developing nature of the market, new product innovation has become the most commonly used strategy among all, as it helps in understanding the changing needs of the consumers in the market.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Rising Demand For Ready Meals Food Products to Influence Growth
4.1.2 Increasing Demand for Organic and Vegan Ready-to-Eat food products.
4.2 Market Restraints
4.2.1 Rising Concern Over Health Issues Associated with Processed Foods
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Instant Breakfast/Cereals
5.1.2 Instant Soups and Snacks
5.1.3 Ready Meals
5.1.4 Baked Goods
5.1.5 Meat Products
5.1.6 Other Product Types
5.2 Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Convenience/Grocery Stores
5.2.3 Speciality Stores
5.2.4 Online Retail Stores
5.2.5 Other Distribution Channels
5.3 Country
5.3.1 China
5.3.2 Japan
5.3.3 Australia
5.3.4 India
5.3.5 Rest of Asia-Pacific
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 PepsiCo Inc.
6.3.2 Nestle S.A.
6.3.3 The Kellogg's Company
6.3.4 Pondok Abang
6.3.5 Unilever PLC
6.3.6 McCain Foods Limited
6.3.7 General Mills Inc.
6.3.8 YO-KAI EXPRESS
6.3.9 GOEL Group
6.3.10 Beyond Meat, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security