Asia-Pacific Ready-to-Eat Food Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Asia-Pacific Ready-to-Eat Food market is segmented by Product Type (Instant Breakfast/Cereals, Instant Soup and Snacks, Ready Meals, Baked Goods, Meat Products, and Others); by Distribution Channel (Hypermarkets / Supermarkets, Convenience Stores, Specialty Stores, Departmental Stores, Online Retailers, and Other Distribution Channels); and by Country.

Market Snapshot

Asia-Pacific Ready-to-Eat Food Market Summary
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 4.1 %

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Market Overview

The Asia-Pacific ready-to-eat food market is projected to grow at a CAGR of 4.1% during the forecast period.

  • The major factor driving the growth of the frozen food market is convenience. Other factors affecting the market are the changing food consumption patterns, due to increasing urbanization, thus driving the ready meals market in the region.
  • Companies are increasingly introducing health-based ready meals, to cater to the unmet needs of health-conscious individuals, following an active and healthy lifestyle. For instance, National Health Innovation Centre (NHIC) played an instrumental role in commercializing an idea from the Department of Food Services (DFS) from Changi General Hospital (CGH) to introduce the first ready-to-eat texture modified Asian Meals for those with difficulty swallowing. With facilitation by NHIC, CGH and Health Food Matters (HFM) signed a licensing agreement in September 2016 to distribute the meals in countries, such as Australia, Japan, Singapore, and New Zealand.
  • However, the idea of instant foods as a hindrance to healthy eating is one of the major factors restraining market growth.

Scope of the report

The Asia-Pacific ready-to-eat food market is segmented by product type as instant breakfast/cereals, instant soups and snacks, ready meals, baked goods, meat products, and others; and by distribution channel as hypermarkets/supermarket, convenience stores, specialty stores, departmental stores, online retailers, and others. Also, the study provides an analysis of the ready-to-eat food market in the emerging and established markets across the Asia-Pacific, including China, Japan, Australia, India, and rest of Asia-Pacific.

By Product Type
Instant Breakfast/Cereals
Instant Soups and Snacks
Ready Meals
Baked Goods
Meat Products
Other Product Types
By Distribution Channel
Hypermarkets / Supermarkets
Convenience Stores
Specialty Stores
Departmental Stores
Online Retailers
Other Distribution Channels
By Country
China
Japan
Australia
India
Rest of Asia-Pacific

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Key Market Trends

Rising Demand For Ready Meals

The sector for ready meals is developing rapidly, due to factors, such as the prevalence of a fast-paced lifestyle, especially in urban areas, which is leading to increased demand for precooked foods, among consumers. The changing food consumption pattern, due to increasing urbanization, is another factor driving the ready meals market, globally. Companies are increasingly introducing health-based ready meals to cater to the unmet needs of health-conscious individuals, following an active and healthy lifestyle. The frozen type ready meals segment held the largest share in 2019, followed by the chilled ready meals segment in Asia-Pacific. The growth can be attributed to frozen food companies revamping their products to include more healthy, flavorful options. The chilled ready meals segment is the fastest-growing segment as consumers are increasingly gaining awareness about the benefits of chilled ready meals, as they have a relatively short shelf-life, thereby, providing consumers the opportunity to enjoy freshly prepared food without needing special skills or having to spend much time preparing meals.

Asia-Pacific Ready-to-Eat Food Market1

Hypermarkets/Supermarkets to Dominate The Distribution Channels in the Region

Hypermarkets/supermarkets are the primary channels of distribution of the RTE food in the Asia-Pacific region. Wider availability of products under one roof, ranging from soup to ready-to-eat food products, has fueled the growth in the sales channel. Supermarkets sell products at a competitive price in order to expand their consumer base. Bundling of products has been a popular strategy that has promoted the growth of products, such as instant noodles, ready meals, and canned soup. Walmart, Carrefour, Metro Inc., Ito Yokado, AEON, the Tokyu Store, 7-Eleven, and Woolworths are the prominent superstores in the region. The rise in the number of outlets and entry of foreign players have fuelled the growth of the channel in the past years. For instance, in 2019, the German discount retailer 'Aldi' and the US membership-based grocery retailer 'Costco Wholesale' both opened their first brick-and-mortar stores in Shanghai, China. Furthermore, different business strategies, such as digitalization of the retail industry, and establishing stronger online-to-offline integration are employed by players in the market.

Asia-Pacific Ready-to-Eat Food Market2

Competitive Landscape

The Asia-Pacific market for ready-to-eat food is competitive, having a large number of domestic and multinational players competing for market share. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies, along with new product development, as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Key players dominating the regional market include PepsiCo Inc., Nestlé, Kellogg NA Co., Pondok Abang, and Unilever, among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Instant Breakfast/Cereals

      2. 5.1.2 Instant Soups and Snacks

      3. 5.1.3 Ready Meals

      4. 5.1.4 Baked Goods

      5. 5.1.5 Meat Products

      6. 5.1.6 Other Product Types

    2. 5.2 By Distribution Channel

      1. 5.2.1 Hypermarkets / Supermarkets

      2. 5.2.2 Convenience Stores

      3. 5.2.3 Specialty Stores

      4. 5.2.4 Departmental Stores

      5. 5.2.5 Online Retailers

      6. 5.2.6 Other Distribution Channels

    3. 5.3 By Country

      1. 5.3.1 China

      2. 5.3.2 Japan

      3. 5.3.3 Australia

      4. 5.3.4 India

      5. 5.3.5 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 PepsiCo Inc.

      2. 6.4.2 Nestle

      3. 6.4.3 Kellogg NA Co.

      4. 6.4.4 Pondok Abang

      5. 6.4.5 Unilever

      6. 6.4.6 McCain Foods Limited

      7. 6.4.7 General Mills Inc.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Asia-Pacific Ready-to-Eat Food Market market is studied from 2016 - 2026.

The Asia-Pacific Ready-to-Eat Food Market is growing at a CAGR of 4.1% over the next 5 years.

PepsiCo Inc., Nestlé, Kellogg NA Co., Pondok Abang, Unilever are the major companies operating in Asia-Pacific Ready-to-Eat Food Market.

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