Ready Meals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Global Ready Meals Market is Segmented by Product type (Frozen Ready Meals, Chilled Ready Meals, Canned Ready Meals, and Dried Ready Meals), Distribution Channel (Supermarkets/ Hypermarkets, Convenience Stores, Online Retailers, and Other Distribution Channels) and by Geography.

Market Snapshot

Study Period:

2016 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

Europe

CAGR:

4.62 %

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Market Overview

The global ready meals market is projected to grow at a CAGR of 4.62% during the forecast period.

  • The major factor driving the market is the convenience provided in terms of time-saving, less effort of cooking and ease of handling and storage. Moreover, the busy schedules, increasing number of employees and students are also owing to the growth of the market.
  • Consumer interest in new products and ingredients is on the rise, and it is expected to witness positive developments. Apart from traditional cuisine, people are keen to try different meals from other ethnicities, for example, Indian, Thai, and Italian. Therefore, preference for ethnic food has been driving the demand for these food products.
  • The demand for these convenience products is on the rise, particularly after the COVID-19 pandemic. Furthermore, they are majorly distributed via the online retail channel.

Scope of the Report

The ready meals market is segmented by product type into frozen ready meals, chilled ready meals, canned ready meals dried ready meals. By distribution channel, the market is fragmented into supermarkets/ hypermarkets, convenience stores, online retailers, other distribution channels. The report contains top-line revenues and a detailed qualitative analysis of the key players, highlighting the most adopted strategies and recent developments of the companies in the global ready meals market.

By Product Type
Frozen Ready Meals
Chilled Ready Meals
Canned Ready Meals
Dried Ready Meals
By Distribution Channel
Supermarket/Hypermarket
Convenience Stores
Online Stores
Other Distribution Channels
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
Germany
United Kingdom
France
Italy
Russia
Rest of Europe
Asia Pacific
China
Japan
Australia
India
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa

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Key Market Trends

Frozen Ready Meals is the Largest Segment in the Market

The European consumers are inclined toward consumption of frozen ready meals, particularly due to the ease of preparation, low nutrition loss, and extended product life, from meat, poultry, and fish, to frozen ready meals, which are gaining popularity across several consumer marketplaces in the world. For instance, Knorr by Unilever offers ready meals, which serve as a complete meal for the whole family, along with an additional nutritional factor to provide a complete healthy meal kit to the consumers. Moreover, after the COVID-19 pandemic, there has been a significant rise in the demand for frozen food products, owing to the longer shelf lives and clean manufacturing processes incorporated with it.

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Europe Remains the Major Market

The increasing demand for natural products that offer a high level of convenience emphasizes the trend for ready-meals in Europe. Consumer demand for natural ready-meals, with few or no additives, increased significantly. For instance, According to the Ministry of Foreign Affairs, the household consumption of ready meals continued to grow at a steady pace between 2014 - 2016, creating opportunities for selling all types of ready meals in Germany, as the consumption of frozen ready foods is likely to increase. Hence, the convenience factor remains paramount in Germany with consumers demanding quick and easy preparation. On the other hand, COVID-19 has also resulted in the generation of opportunities for many private players to emerge in the markets to cater to the inflated demand.

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Competitive Landscape

The ready foods market is a highly competitive market with the top players holding the major market share. Nonetheless, the various small and regional players are also significantly investing in research and development in order to compete with dominating players. The major players are also focusing on mergers and acquisitions as the key market strategy, in order to cater to the rising demand for ready meals across regions. For instance, Nomad Foods acquired British frozen foods maker, Aunt Bessie’s, from William Jackson & Son Ltd for EUR 240 million. Aunt Bessie’s, known for its Yorkshire puddings and frozen potatoes, expanded Nomad’s footprint in the United Kingdom. Nomad Foods Ltd, Nestlé, McCain Foods, Findus Group Ltd, Premier Foods, ConAgra, etc are the major players in the market.

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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

    1. 3.1 Market Overview

  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 Frozen Ready Meals

      2. 5.1.2 Chilled Ready Meals

      3. 5.1.3 Canned Ready Meals

      4. 5.1.4 Dried Ready Meals

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarket/Hypermarket

      2. 5.2.2 Convenience Stores

      3. 5.2.3 Online Stores

      4. 5.2.4 Other Distribution Channels

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 Germany

        3. 5.3.2.3 United Kingdom

        4. 5.3.2.4 France

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 Australia

        4. 5.3.3.4 India

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East and Africa

  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 Unilever PLC

      2. 6.4.2 Nestle SA

      3. 6.4.3 McCain Foods Limited

      4. 6.4.4 Dr. August Oetker Nahrungsmittel KG

      5. 6.4.5 Conagra Brands, Inc

      6. 6.4.6 Nomad Foods

      7. 6.4.7 Tyson Foods Inc.

      8. 6.4.8 Iceland Foods Ltd

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

  9. 8. IMPACT OF COVID-19 ON THE MARKET

** Subject to Availability

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