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In recent years, ready-to-eat food has emerged as one of the most versatile segments of the global ready to eat food market. A rise in convenience trends and a parallel increase in demand for specific meal solutions has resulted in strong demand for frozen ready-to-eat food. The food and beverage industry is viewed as a one-stop shop for customers on the go, offering everything from frozen sweets to appetisers and meals.
Data Bridge Market Research analyses that the ready to eat food market was growing at a value of USD 163.1 million in 2021 and is expected to reach a value of USD 250.31 million and registering a CAGR of 5.50% from 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.
Explore Further Details about This Research Caffeine Substitute Market Report https://www.databridgemarketresearch.com/reports/global-ready-to-eat-food-market
Report Scope and Market Segmentation
REPORT METRIC | DETAILS |
Forecast Period | 2022 to 2029 |
Base Year | 2021 |
Historic Years | 2020 (Customizable to 2014 - 2019) |
Quantitative Units | Revenue in USD Million, Volumes in Units, Pricing in USD |
Segments Covered | Product Type (Instant Breakfast/Cereals, Instant Soups and Snacks, Ready Meals, Baked Goods, Meat Products, Others), Packaging Type (Canned, Frozen or Chilled, Retort, Others), Distribution Channel (Hypermarket/Supermarket, Convenience/Departmental Store, Specialty Store, Online Store, Others) |
Countries Covered | U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
Market Players Covered | The Hain Celestial Company (U.S.), AGRARFROST GMBH & CO. K.G. (Germany), Agristo (Belgium), Bart’s Potato Company bvba (Belgium), Royal Cosun (Netherlands), Farm Frites (Netherlands), Greenyard (Belgium), Himalaya Food International Ltd. (India), J.R. Simplot Company (U.S.), McCain Foods Ltd. (U.K.), Lamb Weston Holdings, Inc. (U.K.), General Mills, Inc. (U.S.), Mondelez International, Inc. (U.S.), and THE KRAFT HEINZ COMPANY (U.S.) |
Opportunities |
|
Ready-to-eat food is a type of packaged cooked food that does not require additional processing to ensure quality. It can be frozen, shelf-stable with minimal heating, or served hot. Some foods must be refrigerated until used, while others require special handling to ensure food quality.
Global Ready to Eat Food Market Dynamics
Drivers
- Consumers busy lifestyle is augmenting Ready to Eat Food market
As frozen ready meals require less time and effort to prepare than cooking from scratch, the growing consumer preference for convenience foods indirectly benefits the growing demand for frozen ready meals. due to the hectic lifestyles of consumers, the processed food market is driven by a greater need for convenience. As a result, there is an increase in demand for frozen goods. Increasing disposable income is another factor that has a significant impact on food market growth because it increases consumer purchasing power.
- Expansions of convenience stores as well growing working class population
Frozen convenience foods sold by food supply chain companies continue to contribute significantly to revenue. Additional revenue share is expected soon as convenience stores expand their frozen ready meal selection and internet sales tap into previously untapped market opportunities.
Ready to eat food are becoming increasingly popular in developed countries, where consumption is higher than in developing countries. The increase in the number of people working in emerging economies such as China and India, as well as the trend toward longer and more variable working hours, has resulted in a progressive shift away from the traditional paradigm of daily cooking.
Opportunity
Online grocery shopping and the introduction of new apps that make it easier for consumers to select their preferred products are two of the most recent market trends. Customers prefer online shopping because it is more convenient and diverse. According to Eurostat, nearly a quarter of the population bought food and groceries from online retailers. As the Internet and smartphone penetration increase, retail ready meal shopping is emerging as one of the platforms for companies to showcase and sell their food products.
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