The Ready-To-Eat Food Market is projected to reach US$ 1,471.94 billion by 2028 from US$ 1,073.87 billion in 2022. It is expected to grow at a CAGR of 5.4% from 2022 to 2028.
Ready-to-eat food refers to food that may be securely partaken by consumers without cooking it. Ready to eat or ready to cook food is also termed fast food, which is effortless to prepare and eat up. It typically involves an instant meal, packed snack food, bread, pasta, breakfast cereals, fruit snacks, sauces, processed meat, protein bars, and more. The major growing factor towards ready-to-eat food market is the changing food consumption behavior amongst consumers. The prime factor driving the ready-to-eat food market is the increased willingness to spend on such food and the lack of time to cook at home due to rapid urbanization.
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List of Companies- Global Ready-to-Eat Food Market
- Nestl? SA
- Conagra Brands Inc.
- The Kraft Heinz Company
- General Mills Inc.
- CAMPBELL SOUP COMPANY
- MTR Foods Pvt Ltd.
- Hormel Foods Corporation
- Tyson Foods, Inc.
- JBS S.A.
The Kellogg Company Based on geography, the ready-to-eat food market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2020, Asia Pacific held the largest share of the market, and it is also expected to register the highest CAGR in the market during the forecast period. The diffusion of supermarkets in Asia favored the consumption of processed foods in the region and is expected to continue tracing the growth of respective distribution channels.
Based on product type, the ready-to-eat food market is segmented into breakfast cereals, instant soup & noodles, ready meals, snacks, baked goods & confectioneries, and others. The Ready meals segment accounted for the fastest-growing segment in the forecast period. The convenience offered in terms of time savings and the little effort required to prepare these meals is driving the expansion of the ready meals segment.
Furthermore, the working population and millennials have become more interested in these meals because they only require heating before consumption, reducing overall effort. Manufacturers are working on developing novel products to meet rising demand and gain significant market share. For Instance, Freshly Inc., the meal delivery service owned by Nestle SA, introduced a new product line in 2020 for consumers seeking to command their health and fuel active lifestyles. These factors are expected to fuel the growth of ready-to-eat food market during the forecast period.
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TABLE OF CONTENTS
- Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
- Key Takeaways
- Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis Formulation:
3.2.4 Macro-Economic Factor Analysis:
3.2.5 Developing Base Number:
3.2.6 Data Triangulation:
3.2.7 Country Level Data:
- Ready-to-Eat Food Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Expert Opinion
4.4 Ecosystem Analysis
- Ready-to-Eat Food Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Strong Preference for Convenience Food Among Millennials
5.1.2 Rise in Working Women Population
5.2 Market Restraints
5.2.1 Risk of Microbial Contamination in RTE Products
5.3 Market Opportunities
5.3.1 Innovations in RTE Products and Strategic Developments by Manufacturers
5.4 Future Trends
5.4.1 Consumer Inclination Toward Low-Fat, Low-Sugar, and Nutritious RTE Products
5.5 Impact Analysis of Drivers and Restraints
- Ready-to-Eat Food- Global Market Analysis
6.1 Ready-to-Eat Food Market Overview
6.2 Ready-to-Eat Food Market -Revenue and Forecast to 2028 (US$ Billion)
6.3 Competitive Positioning - Key Market Players
- Ready-to-Eat Food Market Analysis - By Product Type
- Ready-to-Eat Food Market Analysis - By Distribution Channel
- Ready-to-Eat Food Market - Geographic Analysis
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