Ready to Eat Food Market Insights
The ready-to-eat food products do not require elaborate processing before consumption and save the time and energy of consumers. 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. The global ready-to-eat food market is expected to grow at a CAGR during the forecast period 2018-2023.
Ready to Eat Food Market Dynamics
Changes in Consumer lifestyle and Rapid urbanization= Ready-to-eat Food Market Growth
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. The rising health consciousness among the consumers and sometimes poor sensory properties of ready-to-eat food can restrain the growth of the ready-to-eat food market. 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.
Ready to Eat Food Market Segmentation
The ready-to-eat food market can be segmented by process types into canned, frozen, chilled and other ready-to-eat food. The Frozen segment holds the highest share in the process type category. By the product type, the market is segmented into meat, vegetable, cereals and others food products. The Meat/Poultry segment is projected to account for the largest value share during the forecast period; this segment is estimated to account for 48% value share in 2016. Based on distributional channels, the market is segmented into hypermarkets, supermarkets, convenience stores, departmental stores, specialty stores, and online purchases. Hypermarket and supermarket segment is estimated to account for the highest value share of 37% in 2016 and is expected to gain significant market share by the end of 2023.
Ready to Eat Food Market Regional Analysis
Currently, North America holds the largest market share of ready-to-eat-food. The US 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. 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.
Ready to Eat Food Market Competitive Environment
The competition in the global ready-to-eat food market is reported to be huge mostly in the US and the EU, which are almost saturated markets. These regions have a large number of snack food manufacturing companies serving the limited population. The high growth opportunity in the developing regions of China and India is attracting the majority of the big players to this market. The booming food sector, multiple food outlets, the popularity of international brands and distinctive distribution channels adopted by players are expected to help the market grow at a continuous pace. Product launches and mergers & acquisitions with smaller level players have been the proven strategies for market growth here.
Ready to Eat Food Market Major Players
- Bird’s Eye Ltd.
- Bakkavor Foods Ltd.
- Findus Group Ltd.
- General Mills
- Greencore Group PLC.
- McCain Foods
- MTR Foods
- Premier Northern Foods Ltd.
Reasons to Purchase Ready to Eat Food Market Report
- Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
- Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
- 3 months analyst support along with the Market Estimate sheet in excel.
Customize Ready to Eat Food Market Report
- Value chain analysis
- Consumer behavior analysis in country level
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1.1 Research Methodology
1.2 Market Definition
1.3 Report Description
2. Market Overview
2.1 Market Trend
3. Market Dynamics
3.1 Ready to Eat Food Market Drivers
3.1.1 Changes in Consumer lifestyle and Rapid urbanization
3.1.2 Increase in Demand for Snack and Fried Food
3.1.3 Increasing Millennial and Working Women Population
3.1.4 Wider Availibity and Distribution of Products in the Market
3.2 Ready to Eat Food Market Restraints
3.2.1 Negative Health Impacts related to Ready to Eat Foods
3.2.2 Poor Sensory Properties of Products
3.3 Ready to Eat Food Market Opportunities
3.3.1 Advancement in Areas of Packaging Technology
3.3.2 Innovative Product Offerings in Functional Ingredients and Organic foods
3.4 Porter's Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products and Services
3.4.5 Degree of Competition
4. Market Segmentation
4.1 Ready to Eat Food Market By Packaging Type
4.2 Ready to Eat Food Market By Product Type
4.2.1 Meat & Poultry based
4.2.2 Fruits & Vegetable based
4.2.3 Cereal Based
4.3 Ready to Eat Food Market By Distribution Channel
4.3.1 Hypermarkets / Supermarkets
4.3.2 Convenience Stores
4.3.3 Food Specialty Stores
4.3.4 Departmental Stores
4.3.5 Online Retailers
4.4 Ready to Eat Food Market By Geography
4.4.1 North America Ready to Eat Food Market Size (2018-2023)
184.108.40.206 United States Ready to Eat Food Market Size (2018-2023)
220.127.116.11 Canada Ready to Eat Food Market Size (2018-2023)
18.104.22.168 Mexico Ready to Eat Food Market Size (2018-2023)
4.4.2 Europe Ready to Eat Food Market Size (2018-2023)
22.214.171.124 United Kingdom Ready to Eat Food Market Size (2018-2023)
126.96.36.199 Germany Ready to Eat Food Market Size (2018-2023)
188.8.131.52 Spain Ready to Eat Food Market Size (2018-2023)
184.108.40.206 Russia Ready to Eat Food Market Size (2018-2023)
4.4.3 Asia-Pacific Ready to Eat Food Market Size (2018-2023)
220.127.116.11 China Ready to Eat Food Market Size (2018-2023)
18.104.22.168 Japan Ready to Eat Food Market Size (2018-2023)
4.4.4 South America Ready to Eat Food Market Size (2018-2023)
22.214.171.124 Brazil Ready to Eat Food Market Size (2018-2023)
126.96.36.199 Argentina Ready to Eat Food Market Size (2018-2023)
4.4.5 Africa Ready to Eat Food Market Size (2018-2023)
188.8.131.52 South Africa Ready to Eat Food Market Size (2018-2023)
5. Ready to Eat Food Market Competitive Landscape
5.1 Most Adopted Market Strategies
5.2 Most Active Companies
5.3 Market Share Analysis
6. Ready to Eat Food Market Company Profiles
6.1 Nomad Foods Ltd.
6.2 Bakkavor Foods Ltd.
6.3 Bird’s Eye Ltd.
6.4 Findus Group Ltd.
6.5 General Mills
6.6 McCain Foods
6.7 Premier Foods Group Ltd.
6.8 Sisters Food Group
6.9 Greencore Group plc
6.10 Orkla ASA
6.11 ConAgra Foods Inc.
6.12 ITC Limited
6.13 Conagra Brands Inc.
6.14 Fleury Michon
6.15 Pinnacle Foods Groupâ€‹