Market Size of North America 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 | 3.36 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Ready-to-Eat Food Market Analysis
The North American market for ready-to-eat food is expected to register a CAGR of 3.36%% during the forecast period, 2022 - 2027.
During the COVID-19 pandemic, ready-to-eat foods were one of the few businesses that saw a massive increase in demand. With most individuals working from home and countries under lockdown, ready-to-cook meal products have been flying off the shelves in recent months. Indeed, it is predicted that this shift in consumer behavior will greatly boost the market examined over the projected period.
During the projection period, North America will provide considerable growth prospects for market participants. The regional market is expanding due to the rising demand for on-the-go consumables, particularly among millennials. Also, the demand for ready-to-eat food goods in North America will change demographics, such as increased purchasing power. The United States is the most important market for ready-to-eat foods in North America. The market in this region will grow at a slower rate than the markets in South America, Asia, the Middle East, and Africa.
Young people spend the majority of their money on ready-to-eat foods. For ready-to-eat food manufacturing behemoths, young consumers are the easiest prey. The ease of use of such items contributes to an increase in overall market demand worldwide.
Ready-to-eat food is considered the most convenient alternative to ordinary food, as it may be consumed at any time (such as during breakfast, lunch, or dinner).
