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Ready Meals Market (Type - Canned/Preserved Ready Meals, Chilled Pizza, Chilled Ready Meals, Dried Ready Meals, Frozen Pizza, Frozen Ready Meals, and Prepared Salads; Distribution Channel - Store-based Retailing, and Online Retailing): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : July, 2020

  • Rep Id : CGP105

  • Category : Consumer Goods and Packaging

  • Status : Published

A recent report published by Infinium Global Research on ready meals market provides an in-depth analysis of segments and sub-segments in the global as well as regional ready meals market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional ready meals market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global ready meals market. According to the report, the global ready meals market is projected to grow at a healthy CAGR over the forecast period of 2020-2026.

 

Market Insight

Ready meals are deliberated as a cost-effective alternative meal and their preparation requires less time, as they are precooked. The ready meals are available throughout the year and are safe to consume. The current concern over the spread of coronavirus is expected to have a positive impact on the sales of ready meals in the long term. The whole world is witnessing the spread of COVID-19 pandemic since the beginning of 2020. Furthermore, from the second month of the year 2020, nearly all the countries around the globe have proposed a country level lockdown, which led to the restriction on going outside their houses. Under this panic situation, customers are progressively buying these ready meals owing to their higher shelf life and convenience in cooking. Moreover, ready meals can last a long time, thus leading to the minimum number of visits to the marketplaces for the purchase of food products.

 

The growth of the ready meals market is driven by an upsurge in the convenience foodstuffs among students and working professionals provided in terms of time-saving and minimum efforts required for the preparation of these meals. Ready meals are precooked and pre-packaged meals that can be consumed with least or no preparation. Furthermore, increasing demand for minimally processed and additive-free food products with a prolonged shelf life is anticipated to fuel the market growth during the forecast period. In addition, preference for these meals by the working population and students has augmented, owing to the fact that it requires only heating before consumption, which decreases the overall effort. Moreover, ready meals serve as low-cost alternatives to junk food, which is expected to boost their demand over the forecast period. On the other hand, an increase in health awareness and negative perceptions pertaining to the health effects of the ready meals products among the consumers confine the market growth. 

 

Among the geographies, North America region is expected to hold the largest share in the global ready meals market owing to the introduction of innovative products, such as frozen vegetables and salads. Food inclinations among the consumers are increasing the demand for ready meals in the region. The United States is the largest consumer of ready-to-eat food products and meals. Furthermore, the Asia Pacific region is anticipated to be the fastest-growing region with the highest CAGR during the forecast period. This growth is accredited to the growing target population in the region. In addition, increasing consumer disposable income coupled with rising awareness about ready meal products are driving the regional market growth.

 

Segment Covered

The report on the global ready meals market covers segments such as type, and distribution channel. On the basis of type, the sub-markets include canned/preserved ready meals, chilled pizza, chilled ready meals, dried ready meals, frozen pizza, frozen ready meals, and prepared salads. On the basis of the distribution channel, the sub-markets include store-based retailing, and online retailing.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Nestlé S.A., ConAgra Brands Inc., Kraft Heinz Company, Chao Xiang Yuan Food Co. Ltd., Dr.Oetker, BRF S.A., Berkshire, Green Mill Foods, General Mills, and Tyson Foods.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of ready meals market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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