About Ready-to-Eat
Ready-to-eat food is derived from plant and animal, is washed, cooked, frozen as well as processed for consumption directly after heating. The process saves time & energy of the consumers, so the demand for these type of food is increasing around the globe. It is backed up with the increasing disposable income among people and changing lifestyle. Nowadays, people globally prefer nutritional small quantity of ready to eat food instead of traditional large meals owing to busy lifestyle. Furthermore, rapid urbanization along with growing number of employment is projected to strengthen the demand for ready to eat food over coming years.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Billion) |
CAGR | 7.3% |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Ready-to-Eat market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Nomad Foods Ltd. (United Kingdom), Bakkavor Group plc (United Kingdom), General Mills Inc. (United States), McCain Foods Limited (Canada), Premier Foods Group Ltd. (United Kingdom), 2 Sisters Food Group (United Kingdom) and Greencore Group plc (Republic of Ireland) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Orkla Group (Norway) and ConAgra Foods Inc.(United States).
Segmentation Overview
AMA Research has segmented the market of Global Ready-to-Eat market by Type (Meat/Poultry Products, Cereal Based Products, Vegetable Based Products and Others) and Region.
On the basis of geography, the market of Ready-to-Eat has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Distribution Channel, the sub-segment i.e. Hypermarket/Supermarket will boost the Ready-to-Eat market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Packaging, the sub-segment i.e. Canned will boost the Ready-to-Eat market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological innovations in freezing & packaging of ready to eat snacks
Market Growth Drivers:
Busy lifestyle of consumers, Increasing personal disposable income, Growing number of working women and Growing number of nuclear families
Restraints:
Growing health awareness among people and Unhealthy substitutes and low quality & taste
Opportunities:
Growing disposable income and changing lifestyle in developing nations
Market Leaders and their expansionary development strategies
In October 2023, Tata Consumer Products Limited (TCPL), approved the amalgamation of its wholly-owned subsidiaries including NourishCo Beverages Limited, Tata SmartFoodz Limited, and Tata Consumer Soulfull Private Limited with the company, TCPL said in a regulatory filing.
In September 2023, Nestlé is exploring opportunities to provide consumers with more diverse food choices that incorporate different types of ancient grains such as millet and sorghum. In India, the company recently launched a range of a+ Masala millet-based porridges that are tasty and nutritious.
Key Target Audience
Ready-to-eat food product manufacturers, Raw material Suppliers, Ready-to-eat food product Traders, distributors, and suppliers, Governmental and research organizations, Associations and industry bodies and Technology providers
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.