Ready to Eat Food Market - Growth, Trends, and Forecasts (2019- 2024)

Global Ready to Eat Food Market is segmented by Packaging Type (Canned, Frozen, Chilled, and Others); Product Type (Instant Breakfast/Cereals, Instant Soups & Snacks, Ready Meals, Baked Goods, Meat Products, and Others); Distribution Channel (Hypermarkets / Supermarkets, Convenience Stores, Food Specialty Stores, Departmental Stores, Online Retailers, and Others); and Geography

Market Snapshot

snapshot ready to eat market
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Europe

Largest Market:

North America

CAGR (2019-2024):

4.3%

Key Players:

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Market Overview

Global Ready to Eat Food Market is poised to grow at a CAGR of 4.3% by 2024, during the forecast period (2019 - 2024). 

  • The young consumers spend most of their income on convenient ready-to-eat food products. In Europe, the majority of the populous is between the age group of 18-35 years, which is a clear indicator of the increased demand for convenient 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 world
  • Ready-to-eat food products are being considered as the closest alternative to regular food, which can be consumed any time (such as during breakfast, lunch, or dinner). The initiatives taken by regulatory authorities, like ongoing promotional efforts undertaken by the Singapore Health Promotional Board to create awareness regarding frozen foods and fish products, are driving the market growth. 

 

Scope of the Report

By product type, the market is segmented as instant breakfast/cereals, instant soups & snacks, ready meals, baked goods, meat products, and others. By distribution channel, the market is segmented as hypermarkets/supermarket, convenience stores, food specialty stores, departmental stores, online retailers, and others. Moreover, the study provides an analysis of the ready to eat food market in the emerging and established markets across the world, including North America, Europe, Asia-Pacific, South America, Middle East & Africa.

By Product Type
Instant Breakfast/Cereals
Instant Soups & Snacks
Ready Meals
Baked Goods
Meat Products
Others
By Distribution Channel
Hypermarkets / Supermarkets
Convenience Stores
Food Specialty Stores
Departmental Stores
Online Retailers
Others
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
United Kingdom
Germany
France
Russia
Italy
Spain
Rest of Europe
Asia Pacific
India
China
Japan
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
UAE
South Africa
Saudi Arabia
Rest of MEA

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Key Market Trends

Changes in Consumer Lifestyle and Rapid urbanization

The improving consumer lifestyle, rapid urbanization, high disposable income, are increasing demand for on the go convenience foods, thereby fuelling the ready-to-eat food market growth. Changing food consumption behavior among consumers, increased willingness to spend on such food and the lack of time to cook at home are a result of the rapid urbanization. Urbanization also helps in increasing the disposable income, which increases the food expenditure of the final consumer. Currently, ready-to-eat food is the largest segment in the overall conventional and non-conventional food industry. This segment is growing at a fast pace as a result of the high consumer acceptance for such food globally. Innovative products in functional ingredients, convenience, and organic foods and advancement in areas of packaging technology are expected provide a future growth opportunity in the sector. 

T2

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North America Holds the Major Share of Ready-to-Eat-Food Market

North America holds the largest market share of ready-to-eat-food. The United States is the largest market in North America due to technological innovations, busy lifestyles, and high disposable incomes. The European region also represents a large market for ready-to-eat food. Ready-to-eat foods products in Europe can be obtained everywhere. One of the prominent distribution channels i.e. online stores in Europe are being considered as a one important source for ready-to-eat products, where ready-to-eat food products can be ordered as per own convenience and received quickly. The developing regions of South America and Asia-Pacific are also strong markets. Asia-Pacific, led by countries like China and India, is growing at a fast pace due to the rapid urbanization and changing demographics and consumer eating habits in the region.

trend 2 ready to eat food market

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Competitive Landscape

Some of the leading manufacturers and suppliers of the ready-to-eat food, globally are Nomad Foods Ltd., Bakkavor Foods Ltd., Bird’s Eye Ltd., Findus Group Ltd., General Mills, McCain Foods, Premier Foods Group Ltd.,Premier Foods Group Ltd.,Greencore Group plc, ITC Limited, and Orkla ASA, among others.

Major Players

  1. Nomad Foods Ltd.
  2. Bird’s Eye Ltd.
  3. Findus Group Ltd.
  4. Sisters Food Group
  5. Fleury Michon

* Complete list of players covered available in the table of contents below

market concentration ready to eat food market

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 Force 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 & Snacks

      3. 5.1.3 Ready Meals

      4. 5.1.4 Baked Goods

      5. 5.1.5 Meat Products

      6. 5.1.6 Others

    2. 5.2 By Distribution Channel

      1. 5.2.1 Hypermarkets / Supermarkets

      2. 5.2.2 Convenience Stores

      3. 5.2.3 Food Specialty Stores

      4. 5.2.4 Departmental Stores

      5. 5.2.5 Online Retailers

      6. 5.2.6 Others

    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 United Kingdom

        2. 5.3.2.2 Germany

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Spain

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Australia

        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 & Africa

        1. 5.3.5.1 UAE

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Saudi Arabia

        4. 5.3.5.4 Rest of MEA

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Share Analysis

    2. 6.2 Strategy Adopted by Key Players

    3. 6.3 Most Active Companies

    4. 6.4 Company Profiles

      1. 6.4.1 Nomad Foods Ltd.

      2. 6.4.2 Bakkavor Foods Ltd.

      3. 6.4.3 Birds Eye Ltd.

      4. 6.4.4 Findus Group Ltd.

      5. 6.4.5 General Mills

      6. 6.4.6 McCain Foods

      7. 6.4.7 Premier Foods Group Ltd.

      8. 6.4.8 Sisters Food Group

      9. 6.4.9 Greencore Group plc

      10. 6.4.10 Orkla ASA

      11. 6.4.11 ConAgra Foods Inc.

      12. 6.4.12 ITC Limited

      13. 6.4.13 Fleury Michon

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

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