The Ready Meals Global Market Report 2023 by The Business Research Company, provides ready meals market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Ready Meals Global Market Report 2023, the global ready meals market size grew from $154.5 billion in 2022 to $169.01 billion in 2023 at a compound annual growth rate (CAGR) of 9.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the global ready meals is expected to grow to $244.09 billion in 2027 at a CAGR of 9.6%.
The growing awareness of food products with extended shelf lives is significantly contributing to the growth of the ready meals market. The shelf life of a product is described as the amount of time it may be safely consumed while retaining its desired features such as sensory, functional, chemical, and microbiological properties. People are on the lookout for food with a long shelf life such as ready meals as they are convenient, inexpensive, fast, and pre-portioned with extended shelf lives.
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The ready meals market is segmented:
1) By Product: Frozen, Chilled, Canned, Dried
2) By Distribution Channel: Supermarket / Hypermarket, Convenience Store, Online
3) By End-User: Residential, Food Services
The increasing demand for fresher and more convenient nutritionally compliant dietary standards are key trend gaining popularity in the ready meals market. For instance, in September 2020, FiveStar Gourmet Foods ltd launched the Simply Fresh2GO ready-to-eat meals product line to deliver both in retail and school food services channels to meet strict national school lunch dietary standards. It maintains that each item in the line has a balanced complete meal including protein, grains, fresh vegetables, and fruits.
The ready meals market report table of contents includes:
1. Executive Summary
2. Ready Meals Market Characteristics
3. Ready Meals Market Trends And Strategies
4. Ready Meals Market – Macro Economic Scenario
5. Ready Meals Market Size And Growth
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26. Africa Ready Meals Market
27. Ready Meals Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Ready Meals Market
29. Ready Meals Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Tyson Foods In
- Unilever Group
- Nestle
- Conagra Brands Inc
- Kerry Foods
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