The global ready meals market size is expected to reach USD 219.43 billion by 2030 according to a new study by Polaris Market Research. The report “Ready Meals Market Share, Size, Trends, Industry Analysis Report, By Product (Chilled, Frozen, Shelf-stable, Canned); By Meal Type (Vegan, Vegetarian, Non-vegetarian); By Distribution Channel; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The industry is primarily driven by the product's extended storage lifetime as a result of adequate packing and widespread accessibility. Furthermore, because of increasing hectic work schedules and shifting lifestyles, customers are gravitating towards packaged foods that can be consumed quickly and effortlessly, which has increased the demand for packed ready-to-eat food items and is expected to increase throughout the forecast period.
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Convenience meals are gaining prominence, and they are made up of fully or half-cooked dishes that require minimal time to make, no cooking expertise, and negligible exertion. Moreover, the digitization surge and vigorous ads regarding cooked foods on different communication platforms help raise consumer knowledge, which in turn is expected to propel the ready meals industry throughout the forecast period.
The non- vegetarian segment is expected to hold a significant share in the industry over the forecast period due to increasing demand for fresh hygiene non-vegetarian food items. However, the vegan segment is anticipated to grow at a considerable pace due to rising trends in healthy food coupled with increasing concerns regarding animal welfare.
The North American region is expected to dominate the industry throughout the forecast period due to the increasing adoption of convenience food coupled with the growing demand for high-quality packed food due to busy lifestyles. Furthermore, increasing trends in veganism and gluten-free products are expected to contribute to the regional development.
Market players operating in the global ready meals such as Chao Xiang Yuan Food Co. Ltd., Associated British Foods Plc, Dr. Oetker, Pepsico., Conagra Foods Inc., General Mills, Green Mill Food, Graham Packaging Company, Greencore Group Plc, Kerry Group, Kraft Heinz Company, Grupo Bimbo, Kellogg Company, McCain Foods Limited, Maple Leaf Foods, Nestle, Premier Foods Plc, Tyson Foods, Inc, Tetra Pak International S.A., Unilever, and WestRock Company.
Polaris market research has segmented the ready meals market report based product, meal type, distribution channel, and region:
Ready Meals, Product Outlook (Revenue - USD Billion, 2018 - 2030)
Ready Meals, Meal Type Outlook (Revenue - USD Billion, 2018 - 2030)
Ready Meals, Distribution Channel Outlook (Revenue - USD Billion, 2018 - 2030)
Ready Meals, Regional Outlook (Revenue - USD Billion, 2018 - 2030)