Market Size of Ready-to-Eat Food Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 402.90 Billion |
| Market Size (2029) | USD 512.74 Billion |
| CAGR (2024 - 2029) | 4.94 % |
| Fastest Growing Market | South America |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Ready to Eat Food Market Analysis
The Ready-to-Eat Food Market size is estimated at USD 402.90 billion in 2024, and is expected to reach USD 512.74 billion by 2029, growing at a CAGR of 4.94% during the forecast period (2024-2029).
- The market is witnessing a shift in consumer preferences from home-cooked food to ready-to-eat products, owing to working individuals' busy lifestyles and hectic work schedules. This change in consumer behavior will likely uplift the market studied significantly in the forecast period. Ready-to-eat products are considered the closest alternative to regular food, which can be consumed at any time (such as during breakfast, lunch, or dinner).
- Consumer interest in new products and ingredients is rising and is expected to witness positive developments. Besides traditional cuisine, consumers are eager to try different meals from other ethnicities, such as Indian, Thai, and Italian. Therefore, preference for ethnic ready-to-eat food has driven the demand for these products.
- Millennials and the young generation are the easiest targets for ready-to-eat food manufacturing giants as they spend most of their income on such food products. Thus, such products' convenience level is increasing the global market's total demand. Furthermore, the rising health consciousness among consumers, the predominance of lifestyle disorders, and the nutritional value associated with fresh food are restraining the ready-to-eat food products markets.
