Richmond, Dec. 08, 2023 (GLOBE NEWSWIRE) -- According to a research report "Ready-to-Eat Food Market”, by Product Type (Meat/Poultry Products, Cereal Based Products, Vegetable Based Products, Others), Packaging (Canned, Frozen or Chilled, Retort, Others), Distribution Channel (Hypermarkets and Supermarkets, Conventional Store, Online, Subscription Model, Others) and Region - Global Forecast to 2030.
Global Ready-to-Eat Food Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 395.9 Billion |
| Market size value in 2030 | USD 631.6 Billion |
| CAGR (2023-2030) | 6.9% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Product Type, Packaging, Distribution Channel and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Ready-to-Eat Food Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The Global Ready-to-Eat (RTE) Food market occupies a pivotal role in the contemporary food industry, offering convenience and quick meal solutions to consumers with increasingly busy lifestyles. This market segment encompasses a diverse range of products, including pre-packaged meals, snacks, and beverages that require minimal preparation before consumption. The demand for RTE foods has surged due to factors such as changing consumer preferences, urbanization, and a growing focus on time-saving solutions. The market's significance extends beyond mere convenience, contributing substantially to the overall food ecosystem by fostering innovation in packaging, preservation technologies, and flavor profiles. As a result, RTE foods not only cater to the fast-paced modern lifestyle but also stimulate advancements in food processing and distribution, shaping the industry's landscape.
The RTE Food market benefits the food industry by tapping into evolving consumer needs, creating opportunities for manufacturers, retailers, and suppliers to adapt and thrive. This segment aligns with the demand for on-the-go nutrition and addresses the time constraints faced by individuals, thereby driving market growth. Additionally, the RTE Food market fosters global supply chain efficiencies, encouraging collaboration among diverse stakeholders in the food ecosystem. Its contribution to product diversification and technological advancements underscores its role as a key driver of industry evolution, making it a vital component in meeting the dynamic demands of today's consumers.
Major Vendors in the Global Ready-To-Eat Food Market:
- Birds Eye Ltd.
- Findus Group Ltd.
- Nestle
- Nomad Foods Ltd.
- Bakkavor Foods Ltd.
- General Mills Inc.
- McCain Foods
- Premier Foods Group Ltd.
- Sisters Food Group
- Greencore Group Plc
- Orkla ASA
- Teleflex Incorporated
- Conagra Brands, Inc.
- Unilever
- The Kraft Heinz Company
- CSC Brand LP
- Hormel Foods Corporation
- Tyson Foods, Inc.
- Fleury Michon
- Grupo Herdez Food Services
- MTR Foods Pvt. Ltd.
- Gits Food Products Pvt. Ltd.
- Haldiram Snacks Pvt. Ltd.
- ITC Limited
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Changing Consumer Lifestyles
One of the primary drivers for the global ready-to-eat food market is the significant shift in consumer lifestyles. The fast-paced nature of modern life has led to an increased demand for convenient and easily accessible food options. Consumers, especially in urban areas, are facing time constraints due to hectic work schedules, commuting, and various other commitments. As a result, there is a growing preference for ready-to-eat foods that require minimal preparation time. The convenience offered by RTE foods aligns with the need for quick, hassle-free meal solutions. This trend is further accentuated by the rising number of dual-income households and the increasing urbanization worldwide. Manufacturers in the RTE food sector are capitalizing on this trend by innovating and introducing a diverse range of products that cater to different tastes and dietary preferences.
Market Dynamics
Drivers:
- Busy Lifestyles
- Urbanization
- Increasing Disposable Income
- Convenience and Time-saving
Opportunities:
- Technological Advancements
- Health and Wellness Trends
- E-commerce Growth
- Globalization and Cultural Diversity
Advancements in Food Processing Technologies
Technological advancements in food processing play a crucial role in propelling the growth of the global RTE food market. Continuous developments in food preservation and packaging technologies contribute to extending the shelf life of RTE products without compromising on taste and nutritional value. Novel processing techniques such as high-pressure processing, advanced dehydration methods, and modified atmosphere packaging enhance the quality and safety of RTE foods, addressing concerns related to food spoilage and contamination. Additionally, improvements in packaging materials ensure that these products remain fresh during transportation and storage. These technological innovations not only enhance the overall consumer experience but also enable manufacturers to meet stringent food safety standards. As consumers become more health-conscious, technological advancements also facilitate the production of RTE foods with reduced additives, preservatives, and healthier ingredient profiles, further expanding the market's appeal.
North America dominates the market for Ready-to-Eat Food.
North America stands out as the dominating region in the global ready-to-eat food market, with the United States leading in consumption and market share. The region's dominance can be attributed to the high prevalence of busy lifestyles, a strong culture of convenience, and a well-established food and beverage industry. The U.S. market particularly benefits from a diverse consumer base with a penchant for quick and convenient meal options.
Asia-Pacific, and specifically India, is emerging as a key player with substantial growth potential in the ready-to-eat food market. India's market is driven by a rising urban population, increasing disposable incomes, and a shift towards Westernized eating habits. The convenience factor aligns well with the fast-paced urban life in countries like India, making ready-to-eat foods increasingly popular. Additionally, government initiatives promoting the food processing sector and improvements in distribution channels contribute to the market's growth.
Another noteworthy region is the Middle East and Africa, where the demand for convenient food solutions is on the rise due to changing lifestyles and an expanding working-class population. South Africa, in particular, showcases promise as a market with high growth potential, driven by urbanization and a growing awareness of convenient food options.
The Material Segments is anticipated to hold the Largest Market Share during the Forecast Period
In the global Ready-to-Eat Food market, the Packaging segment comprises various categories such as Canned, Frozen or Chilled, Retort, and Others. This segment's dominance can be attributed to its pivotal role in ensuring convenience, shelf stability, and preservation of the diverse range of ready-to-eat products. Canned packaging offers prolonged shelf life, while Frozen or Chilled packaging maintains product freshness. The Retort packaging method, involving heat-resistant pouches, contributes to both preservation and portability. The inclusion of other packaging methods reflects the industry's dynamic nature, adapting to evolving consumer preferences. The dominance of the Packaging segment underscores its crucial function in not only preserving the quality of ready-to-eat foods but also enhancing their accessibility, aligning with the modern consumer's demand for convenience and on-the-go options.
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