Ready Meals Market Size, Share & Trends Report

Ready Meals Market Size, Share & Trends Analysis Report By Distribution Channel (Retail & Supermarket, Online Platform), By Product Type (Frozen & Chilled, Canned, Dried), By Region, And Segment Forecasts, 2019 - 2025

  • Published Date: Aug, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-3-68038-529-8
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 80

Industry Insights

The global ready meals market size was estimated at USD 219.69 billion in 2018 and is estimated to expand further at a CAGR of 4.3% over the forecast period. Rapidly expanding food packaging industry is estimated to drive the market. Growing demand for minimally processed and additive-free food products with extended shelf life is expected to fuel the market growth.

Another key factor driving the market is changing consumer lifestyle, which boosts demand for convenience foods, such as ready meals. In addition, increasing cases of lifestyle diseases, such as obesity, across the globe will augment the product sales. Ready meals are highly convenient and help save time and efforts required for meal preparation.

U.S. ready meals Market

This has led to the increased demand for such meals, especially by the working population and students across the globe. They are a cost-effective alternative as they are precooked. Moreover, easy availability of such meals throughout the year will have a positive impact on their demand. In addition, print and media advertisement has played a big role in creating awareness about these products, thereby augmenting the overall market growth.

Rise in per capita income levels is another factor driving the net sales in most parts of the world. However, increasing safety concerns associated with these meals might affect the market growth. Moreover, rising cases of obesity and other lifestyle diseases are anticipated to hinder the market growth. Thus, manufacturers are focusing on introducing nutritious and healthier products to retain their market share.

Product Type Insights

Based on product type, the market is classified into frozen & chilled, canned, and dried. Frozen and chilled product segment led the market in 2018 accounting for a share of more than 44%. Frozen and chilled ready meals have high demand than other types owing to their extended shelf life. Frozen pizza is the most popular frozen ready meal and tops the contribution in the global revenue.

The canned ready meals product segment is projected to witness the fastest CAGR from 2019 to 2025. Dried product segment is also likely to witness a significant growth in future. Dried products include foods, such as instant pasta and noodles. Countries including U.S., China, India, and U.K. are the major markets for dried meals owing to substantial demand.

Distribution Channel Insights

Based on distribution channel, the market is categorized into retail and supermarket and online platform. Among these, retail and supermarket segment is anticipated to hold the largest share in the market. However, the online distribution channel is anticipated to experience the maximum growth rate over the forecast period owing to the rising number of internet and smartphone users.

Global ready meals Market

Moreover, rising popularity of e-commerce platforms, such as Amazon, is expected to boost the product sales through online channels. Increasing adoption of advanced technologies, such as AI, will drive the segment growth further. In addition, online platforms provide various offers and discounts on branded products, which also helps boost segment growth.

Regional Insights

North America held the largest share of the global ready meals market in 2018 and is projected to expand further at a steady CAGR from 2019 to 2025. This growth is attributed to the increasing target population in the region. Asia Pacific is said to be the second-largest regional market owing to the rising population, consumer disposable income levels, and awareness about ready meal products.

In addition, improved standards of living and rapid industrialization in emerging economies, such as India and China, will have a positive impact on the product demand. Europe is also expected to have a considerable growth in coming years due to the introduction of innovative products, such as frozen vegetables and salads. Moreover, increased demand for gluten-free meat is another factor driving the ready meals market growth.

Ready Meals Market Share Insights

Manufacturers have undertaken several marketing strategies to expand their geographical reach, such as product innovation, mergers and acquisitions, and partnerships. For example, in October 2016, ConAgra Brands, Inc. acquired Pinnacle Foods, a New Jersey-based company. Companies also focus on quality packaging to improve the product shelf life.

They are collaborating with packaging companies to develop advanced and innovative packaging solutions, such as biodegradable barrier tray. Prominent market participants include ConAgra Brands, Inc.; Nestle S.A.; Kraft Heinz Company; Chao Xiang Yuan Food Co. Ltd.; Dr. Oetker; BRF S.A.; Berkshire; General Mills; Massa Leve; and Tyson Foods.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Billion and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central and South America, and Middle East and Africa

Country scope

U.S., U.K., France, India, China, Brazil, and South Africa

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

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Segments
Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global ready meals market report on the basis of product type, distribution channel, and region:

  • Product Type Outlook (Revenue, USD Billion, 2015 - 2025)

    • Frozen & chilled Ready Meals

    • Canned Ready Meals

    • Dried Ready Meals

  • Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)

    • Retail & Supermarket

    • Online Platform

  • Regional Outlook (Revenue, USD Billion, 2015 - 2025)

    • North America

      • U.S.

    • Europe

      • U.K.

      • France

    • Asia Pacific

      • India

      • China

    • Central and South America

      • Brazil

    • Middle East and Africa

      • South Africa

Key questions answered by the report
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