Ready Meals Market Grows In The F&B Industry, With Western Europe Having The Largest Share
The Business Research Company's Ready Meals market research report expands on key drivers, trends, and growth opportunities in the market.
LONDON, June 29, 2022 /PRNewswire/ -- Western Europe accounts for the largest ready meals market share. Asia-Pacific is expected to be the fastest-growing region in the global ready meals market during the forecast period. The regions covered in the global ready meal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The global ready meals market size is expected to grow from $141.5 billion in 2021 to $153.21 billion in 2022 at a compound annual growth rate (CAGR) of 8.3%. TBRC's ready meals market forecast sees it reaching $213.32 billion in 2026 at a CAGR of 8.6%.
Request a free sample of the Ready Meals Market Report
Ready Meals Market Overview
The ready meals market consists of sales of ready meals by entities (organizations, sole traders, and partnerships) that are convenient, inexpensive, fast, and pre-portioned. The ready meals are complete meals that only require heating before eating. They are ready to eat and already cooked or prepared. They are priced at a lower price and hence are cheap and convenient to use.
The main components of the ready meals market are frozen, chilled, canned, and dried products. A frozen food product that has been factory processed to the point that it is ready for use as a food and may or may not require further heating before consumption is referred to as frozen food. Ready meals are available on various distribution channels such as supermarkets/hypermarkets, convenience stores, and online.
The increasing demand for fresher and more convenient nutritionally compliant dietary standards are key trend gaining popularity in the ready meals market. For instance, in September 2020, FiveStar Gourmet Foods ltd launched the Simply Fresh2GO ready-to-eat meals product line to deliver both in retail and school food services channels to meet strict national school lunch dietary standards. It maintains that each item in the line has a balanced complete meal including protein, grains, fresh vegetables, and fruits.
Ready Meals Industry Growth
The growing awareness of food products with extended shelf lives is significantly contributing to the growth of the ready meals market. The shelf life of a product is described as the amount of time during which it may be safely consumed while retaining its desired features such as sensory, functional, chemical, and microbiological properties. People are on the lookout for food with a long shelf life like ready meals, as they are convenient, inexpensive, fast, and pre-portioned. For example, in June 2020, Truebell LLC, a US-based food and beverage exporter company has seen demand up to 300% for long shelf-life products. Therefore, the growing awareness of food products with extended shelf lives is driving the growth of the ready meals market.
See more on the Ready Meals Market Report
Check out similar market reports:
Interested to know more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally, it has strategy enablement specialists in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.
The World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: [email protected]
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: http://blog.tbrc.info/
Logo: https://mma.prnewswire.com/media/1751581/tbrc_logo.jpg
SOURCE The Business Research Company
Share this article