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Report
Global Ready Meals Market Report and Forecast 2024-2032
Market Report I 2024-06-20 I 207 Pages I EMR Inc.
Global Ready Meals Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the global ready meals market size reached a value of USD 149.21 billion in 2023. Aided by the increased preference for healthy readymade meals such as vegan, Mediterranean, and paleo, among others, due to growing health awareness among consumers, the market is projected to further grow at a CAGR of 4.9% between 2024 and 2032 to reach a value of USD 230.24 billion by 2032.
Ready meals, also known as prepared meals or ready-to-eat (RTE) meals, are pre-packaged meals that require minimal preparation before consumption. These meals encompass a wide range of products, including frozen meals, chilled meals, canned meals, and dried meals. They are designed to offer convenience to consumers who have busy lifestyles or limited cooking skills, providing a quick and easy meal solution without compromising on taste or nutrition.
The increasing consumer preference for convenience foods is driving the ready meals market growth. With the growing urbanization and the rise in dual-income households, there has been a significant shift towards ready meals, as they save time and effort in meal preparation. Additionally, the increasing trend of on-the-go consumption has further contributed to the rising popularity of ready meals, as they are ideal for busy individuals who require quick meal options.
Moreover, the advent of innovative packaging technologies has enhanced the shelf-life and quality of ready meals, making them more appealing to consumers. The development of eco-friendly and sustainable packaging solutions has also positively influenced the market, as environmentally conscious consumers are increasingly opting for products with minimal environmental impact.
The rapid urbanisation and the increasing number of working professionals have significantly influenced the demand for ready meals, driving the ready meals market expansion. As urban dwellers often face time constraints due to their hectic schedules, they seek convenient and quick meal solutions that fit into their busy lifestyles. Ready meals offer an ideal solution, providing a hassle-free and time-saving option for those who do not have the time or energy to cook elaborate meals.
The advancements in food processing technologies have played a crucial role in increasing the ready meals market share. The introduction of advanced freezing and packaging techniques has improved the quality and shelf-life of ready meals, making them more appealing to consumers. These technological innovations have also enabled manufacturers to offer a wide variety of ready meals with diverse flavours and ingredients, catering to different consumer preferences.
The increasing awareness of health and wellness among consumers has led to a rising demand for healthier ready meal options. Manufacturers are now focusing on developing nutritionally balanced ready meals that cater to health-conscious consumers. The inclusion of organic ingredients, low-calorie options, and meals with reduced levels of artificial additives and preservatives has further driven the market growth. Additionally, the growing popularity of plant-based and vegetarian ready meals has also contributed to the expanding consumer base.
As per the global ready meals market analysis, North America holds a significant share of the global market. The high demand for convenient food solutions, coupled with the busy lifestyles of consumers, drives the market growth in this region. Additionally, the presence of established market players and the availability of a wide range of products contribute to the market's expansion. The U.S. is the largest market for ready meals in North America, followed by Canada. The Asia Pacific region is expected to witness significant growth during the forecast period. The rapid urbanization, rising disposable incomes, and changing lifestyles of consumers drive the demand for ready meals in this region. Additionally, the increasing penetration of modern retail formats and the growing influence of Western food habits contribute to the market's expansion. China, Japan, and India are the major markets for ready meals in the Asia Pacific region.
Market Segmentation
The market can be divided based on product, meal type, distribution channel and region.
Market Breakup by Product
- Frozen
- Chilled
- Canned
- Shelf-stable
Market Breakup by Meal Type
- Vegetarian
- Non-vegetarian
- Vegan
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Online
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global ready meals market. Some of the major players explored in the report by Expert Market Research are as follows:
- Nestle S.A.
- Mars, Incorporated
- General Mills Inc.
- Dr. August Oetker Nahrungsmittel KG
- Tyson Foods, Inc.
- Conagra Brands, Inc.
- Hormel Foods, LLC
- McCain Foods Ltd.
- Nomad Foods
- Boparan Holdings Limited
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Ready Meals Market Analysis
8.1 Key Industry Highlights
8.2 Global Ready Meals Historical Market (2018-2023)
8.3 Global Ready Meals Market Forecast (2024-2032)
8.4 Global Ready Meals Market by Product
8.4.1 Frozen
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Chilled
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Canned
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Shelf-stable
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.5 Global Ready Meals Market by Meal Type
8.5.1 Vegetarian
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Non-vegetarian
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Vegan
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Ready Meals Market by Distribution Channel
8.6.1 Supermarkets and Hypermarkets
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Convenience Stores
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Online
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Others
8.7 Global Ready Meals Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Ready Meals Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Ready Meals Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Ready Meals Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Ready Meals Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Ready Meals Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Nestle S.A.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Mars, Incorporated
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 General Mills Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Dr. August Oetker Nahrungsmittel KG
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Tyson Foods, Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Conagra Brands, Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Hormel Foods, LLC
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 McCain Foods Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Nomad Foods
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Boparan Holdings Limited
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Ready Meals Market: Key Industry Highlights, 2018 and 2032
2. Global Ready Meals Historical Market: Breakup by Product (USD Billion), 2018-2023
3. Global Ready Meals Market Forecast: Breakup by Product (USD Billion), 2024-2032
4. Global Ready Meals Historical Market: Breakup by Meal Type (USD Billion), 2018-2023
5. Global Ready Meals Market Forecast: Breakup by Meal Type (USD Billion), 2024-2032
6. Global Ready Meals Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
7. Global Ready Meals Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
8. Global Ready Meals Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Ready Meals Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Ready Meals Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Ready Meals Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Ready Meals Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Ready Meals Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Ready Meals Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Ready Meals Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Ready Meals Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Ready Meals Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Ready Meals Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Ready Meals Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Ready Meals Market Structure
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