Ready-to-Eat Meals Market Overview:
Ready-to-eat meals market 2022 can potentially garner a
strong valuation of USD 188.0 billion by 2030, claims Market Research Future
(MRFR). MRFR also anticipates the market to procure a significant CAGR of close
to 10.98% over the forecast period (2022–2030). We will provide COVID-19 impact
analysis with the report, along with all the extensive key developments in the
market post the coronavirus disease outbreak.
Primary Drivers and Challenges:
The COVID-19 outbreak resulted in massive panic worldwide,
with the lockdown leading to shut down of retail stores to curb the spread of
the pandemic. This led to stockpiling of foods that have extended shelf life,
such as ready-to-eat meals like salads, rice & noodles, pasta & pizzas,
soups and gravies & curries. However, SARS-CoV-2 has still managed to slow
down the growth of the food and beverage industry due to the scarcity in labor.
Some other challenges posed by the novel coronavirus include movement restrictions;
weakened supply chains and the reduced supply of raw materials such as
vegetables and wheat. These factors have given a massive blow to the Ready-to-Eat
Meals Market Insights.
On the brighter side, the lockdown has accelerated the
transition to e-commerce, with online shopping growing in popularity among
people. This has been quite favorable for the ready to eat meals market in
these uncertain times. Rising preference for ready-to-eat meals due to hectic
lifestyle of working professionals, students and college grads remains one of
the top factors contributing to the market growth. The spike in the preference
for additive-free and minimally processed foods with longer shelf life also
benefits the ready to eat meals industry.
Ready to eat meals are more cost-effective compared to other
alternatives in the market, since they are precooked. Their easy availability
all year round also bolsters their demand, while media and print advertisement
helps fosters brand awareness among people. Leading market participants are
constantly launching new ready meals to cater to the evolving demand of the
consumers, with the primary aim of strengthening their global position.
To cite a reference, in August 2020, Kerry Foods’ brand
Richmond Sausages launched a new range of frozen ready to eat meal products in
the United Kingdom. This line-up will have two family-based meals, namely
Sausage Casserole and Sausage and Tomato Pasta.
Segmentations:
The ready-to-eat meals industry has been dissected with
regard to type as well as distribution channel.
The main types of ready to eat meals in the market include
soups, salads, rice & noodles, pasta & pizzas, gravies & curries,
and more.
Store-based and non-store-based are the key distribution
channels in the worldwide market. The sub-segments, depending on the
store-based type, are convenience stores, supermarkets & hypermarkets, to
name a few.
Regional Insights:
The market for ready to eat meals has been reviewed with
respect to four regions, namely Europe, North America, Asia Pacific or APAC as
well as RoW/ rest of the world.
Since 2018, Europe has been leading the Ready-to-Eat
Meals Market Outlook can continue to do so throughout the duration of
the evaluation period. Europe’s dominance is the outcome of the hectic
lifestyle followed by the consumers and the growing preference for ready-to-eat
meals due to their convenience and easy to cook nature. The UK/United Kingdom
is the most lucrative market in the region, as several vendors in the country
are focused on fortifying their distribution channels to capture a bigger share
in the market and also boost their customer base at a global level.
However, it is North America that can post the highest
expansion rate in the coming period, with the US at the vanguard of the said
growth. The strong demand for convenience food and the rising use of healthy
ingredients in ready to eat meals are cited to be the top growth inducers in
the market. With more and more manufacturers introducing creative packaging and
adhering to the regulations, the market growth in the region has been extensive
in recent years. The frozen pizza segment notes intense demand in the region,
and is a highly popular junk food among the youth and working professionals
leading busy lifestyles.
The market growth in APAC is the result of the expanding
target population and the dramatic surge in the disposable incomes of the
consumers. Improving living standards along with the fast industrialization in
India and China also enhances the market size in the region. Rising
introduction of new and innovative products, like frozen salads and vegetables
paired with the mounting preference for gluten-free meat also fuels the demand
rate in the region.
Top Market Firms:
Greencore Group plc (Ireland), General Mills Inc. (US),
Kerry Group (Ireland), Grupo Bimbo S.A.B. de C.V. (Mexico), Conagra Foods Inc.
(US), Associated British Foods PLC (UK), Tyson Foods, Inc (US), McCain Foods
Limited (Canada), Unilever (UK), Bakkavor Group plc (UK), Premier Foods Plc
(UK), are few of the top market firms profiled in the MRFR study.
Related Reports:
Biscuits
Market Research Report Information By Type (Crackers, Savoury Biscuits
and Sweet Biscuits), By Distribution Channel (Independent Bakeries, Online
Channels, Convenience Stores, Supermarkets and Others), and By Region (North
America, Europe, Asia-Pacific, and Rest Of The World) - Forecast Till 2030.
Rapport
d'étude de marché sur les cookies : par type (biscuits en barres,
biscuits moulés, biscuits roulés, autres), emballage (rigide, flexible,
autres), canal de distribution (en magasin, hors magasin) et région -
Prévisions jusqu'en 2030
Vitamin-C-Marktforschungsbericht:
Nach Typ (Natriumascorbat, Calciumascorbat, Kaliumascorbat, Magnesiumascorbat
und andere), Anwendung (Pharma und Nutrazeutika, Lebensmittel und Getränke,
Körperpflege und andere) und Region (Nordamerika, Europa, Asien-Pazifik und
Rest der Welt) - Prognose bis 2030
About Market Research Future:
Market Research Future (MRFR) is a world-renowned market
research company that offers a wide range of services, complete with accurate
and precise analysis about diverse markets, sub-markets and target consumers.
Our approach is a combination of extensive information and multiple data
sources that help provide an exhaustive comprehension about the latest major
developments to the client, in addition to future events and what measures and
decisions to take on the basis of the same.
Our fast-emerging market research firm is armed with an
adept research analysts’ team that focuses on gathering useful data and
analytics in terms of economic and technological advances. Our proficient
analysts conduct industrial visits in a bid to achieve reliable and accurate
information from established market participants. One of our foremost
objectives is to keep the client well-versed with all the lucrative
opportunities as well as challenges surrounding various global markets. We
offer step-by-step guidance to our clients, through consulting and strategic
services, enabling them to arrive at a practical and effective decision.
Contact Us:
Market Research Future (part of Wantstats Research and Media
Private Limited),
99 Hudson Street, 5Th Floor,
New York, New York 10013
United States of America
+1 628 258 0071
Comments
Post a Comment