|Study Period:||2016 - 2026|
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Europe ready-to-eat food market is expected to grow at a CAGR of 4.4% during the forecast period (2021-2026).
COVID-19 had created a panic situation among consumers with temporary closures of offline stores. This resulted in a high panic purchasing and the stockpiling of food products with a long shelf life, including ready-to-eat food products like noodles, soups, pasta, and pizzas among others. The demand for ready-to-eat food products skyrocketed during the COVID-19 pandemic especially among the consumers that are not fond of cooking food. Additionally, the restaurants restricting services in the fear of a rising number of coronavirus cases had insisted consumers cooking at home, thereby leading to an increase in the consumption of ready-to-eat products over the medium term.
The growth of the ready-to-eat market is driven by an increase in the convenience offered, in terms of time-saving and efforts required for the preparation of these meals. Moreover, the preference for ready-to-eat food by the working population and students has increased, owing to the fact that it requires only heating before consumption, which reduces the overall effort.
Young consumers spend most of their income on convenient ready-to-eat food products. Young consumers are the easiest targets for ready-to-eat food manufacturing giants. The convenience level of such products helps to increase the total demand in the market, across the region.
Scope of the Report
Europe's market for ready-to-eat food market is segmented by product type into Instant Breakfast/Cereals, Instant Soups & Snacks, Ready Meals, Baked Goods, Meat Products, and Others. The market is segmented by Distribution Channel into Hypermarkets / Supermarkets, Convenience Stores, Food Specialty Stores, Departmental Stores, Online Retailers, and Others. By Geography into United Kingdom, Germany, Spain, France, Italy, Russia, Rest of Europe. For each segment, the market sizing and forecasts have been done on the basis of the value (in USD million).
|Instant Soups & Snacks|
|By Distribution Channel|
|Food Specialty Stores|
|Online Retail Stores|
|Rest of Europe|
Key Market Trends
Frozen Foods Dominates The Market
The demand has grown for frozen products as they require less time and effort as compared to cooking from scratch for other foods. The processed food market is driven by the greater need for convenience due to the busy lifestyles of consumers. Increasing income is also one such factor that has a huge influence on the growth of the frozen food market as it increases the buying power of consumers. Population growth, rapid urbanization, and the rise in consumer awareness about the benefits of frozen food are the key factors driving the demand for frozen food in the region. This can be attributed to the intense competition the sector faces from chilled prepared foods, which are increasingly being perceived as foods that offer superior taste and quality, compared to their frozen equivalents.
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France Holds A Major Share In Europe Ready-To-Eat Market
The convenience factor associated with ready-to-eat food is also complemented by the on-the-go snacking trend. The foodservice sector in France has been rapidly diversifying its product portfolio to include different types of ready-to-eat food products. The demand for such convenient food in France has been increasing manifold from rapidly emerging cafes, restaurants, in-store bakeries, and coffee shops, which typically procure ready-to-eat food to provide instant delicacies. The demand for ready meals that are additive-free, minimally processed, and with extended shelf-life is expected to drive the market. Moreover, manufacturers operating in the country are constantly looking for innovation, by expanding their product portfolio, launching new products, and even adopting packaging-level modifications, in order to increase their customer base and gain a competitive advantage.
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The European ready-to-eat market faces high competition; the Majority of the share is held by the leading players, including Nomad Foods, Premier Foods Group Limited, and Nestlé S.A. Manufacturers are increasingly focusing on the packaging, as it plays a vital role in retaining the product quality, vitamin content, taste, texture, color, and shelf-life. High industrial profitability has led manufactures to develop powerful competitive strategies, which is intensifying the competition among the existing market players. Major players are intensely embarking on product innovation as their prime strategy, to consolidate the market studied.
- In January 2021, Nomad Foods had announced to acquire Fortenova Group's Frozen Foods (FFBG), which includes Ledo, Frokom, and other Frozen brands. The acquisition of FFBG would extend Nomad's portfolio into new and developing European markets while also creating a beachhead for potential future consolidation within Central and Eastern Europe.
- In November 2018, Nomad Foods Ltd entered into an agreement to acquire Green Isle Foods Ltd (Goodfella’s Pizza) from a subsidiary of Boparan Holdings Ltd for approximately USD 274.6 million. Goodfella’s Pizza makes and distributes private-label frozen pizzas in the United Kingdom and Ireland.
- In January 2018, Premier Foods's Mr. Kipling brand launched reduced sugar-baked slices, made with real fruit in three different flavors, like Smashing Strawberry, Rockin’ Raspberry, and Awesome Apple.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Instant Breakfast/Cereals
5.1.2 Instant Soups & Snacks
5.1.3 Ready Meals
5.1.4 Baked Goods
5.1.5 Meat Products
5.2 By Distribution Channel
5.2.2 Convenience Stores
5.2.3 Food Specialty Stores
5.2.4 Departmental Stores
5.2.5 Online Retail Stores
5.3.1 United Kingdom
5.3.7 Rest of Europe
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Nomad Foods Ltd
6.4.2 Nestle SA
6.4.3 McCain Foods Limited
6.4.4 Premier Foods Group Limited
6.4.5 ConAgra Brands, Inc.
6.4.6 Dr. August Oetker Nahrungsmittel KG
6.4.7 FRoSTA AG
6.4.8 Frima NV
6.4.10 The Kellogg Company
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Europe Ready-to-Eat Food Market market is studied from 2016 - 2026.
What is the growth rate of Europe Ready-to-Eat Food Market?
The Europe Ready-to-Eat Food Market is growing at a CAGR of 4.4% over the next 5 years.
Who are the key players in Europe Ready-to-Eat Food Market?
Premier Foods Group Limited, Nestle SA, Nomad Foods, ConAgra Brands, Inc., McCain Foods Limited are the major companies operating in Europe Ready-to-Eat Food Market.