Market Size of Europe Ready-to-Eat Food Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.25 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Ready-to-Eat Food Market Analysis
The Europe Ready-to-Eat Food Market size is expected to grow from USD 85.65 billion in 2023 to USD 100.50 billion by 2028, at a CAGR of 3.25% during the forecast period (2023-2028).
- The growth of the ready-to-eat food market is driven by an increase in the convenience offered in terms of time-saving and efforts required to prepare these meals. Moreover, due to changes in social and economic patterns, increased spending on food and drink, increased awareness of healthy foods, changes in meal patterns and existing eating habits, an increase in the number of ex-pats settling across the region, and the desire to try new products, the demand for convenient and instant food, in particular instant pasta, rice, snacks, meat products, and others, is growing at a faster rate.
- For instance, the UK National Statistics Office (NSO) has revealed that about 9.6 million of the non-UK population resides in the United Kingdom. This ex-pat population in the country is constantly increasing with increasing migrations from other countries.
- Additionally, ethnic foods have been dubbed "cultural ambassadors," and ready-made ethnic dinners are becoming common in every store aisle. Since these cuisines have had significant market penetration over the past decade, the ready-to-eat ethnic food sector is more likely to rely on the fusion of ethnic blends in the region.
- Young consumers are spending most of their income on convenient ready-to-eat food products. Consumers between the ages of 20 and 30 are the easiest targets for ready-to-eat food manufacturing giants. This is because these consumers are primarily working professionals and college students who need help cooking at home due to their busy schedules. The convenience level of such products helps increase the total demand in the market across the region.
