Ready-to-eat Food Market to Reach US$ 391.1 Billion by 2034 Amid Increasing Urbanization and Demand for Convenient Meal Solutions

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Jan 23, 2024, 10:05 ET

Future Market, Inc. (FMI) forecasts a robust future for the ready-to-eat (RTE) food market, fueled by evolving social trends, rising disposable incomes, and changing dietary habits. Dive deeper into the eşofman dynamics of this burgeoning market and uncover compelling stakeholder opportunities in our comprehensive FMI report.

NEWARK, Del., Jan. 23, 2024 /PRNewswire/ -- The global Ready-To-Eat Food Market is projected to reach US$ 195.9 billion in 2024 and US$ 391.1 billion in 2034. By 2034, the ready-to-eat food demand is expected to surge at a CAGR of 9.2%.

Request Exclusive Sample Report: Ready-to-eat Food Industry Strategic Insights, https://www.futuremarketinsights.com/reports/sample/rep-gb-491

Changing social and economic patterns, increasing spending on food, and changes in dietary habits are set to drive the worldwide demand for convenient and ready-to-eat foods. After the COVID-19 crisis, the ready-to-eat food industry is among the fastest-growing markets.

Rising consumer demand for healthier, more customizable, authentic, and natural products without compromising health goals, taste, or nutrients is driving the market growth. Ready-to-eat food aid people eat healthy meals despite their busy schedules and dynamic lifestyles.

The United States, China, and India, with their rapid economic growth and immense potential, are expected to propel demand in the market. In these countries, frozen and chilled ready meals rank among the most popular types of ready-to-eat food. Trends in consumer food preferences, such as veganism, gluten-free eating, and environmentally friendly packaging, bring value to the market.

Key Takeaways from the Ready-to-eat Food Market Report:

The global ready-to-eat food market is expected to reach a valuation of US$ 195.9 billion by 2024.
The market is expected to surge at 9.2% CAGR over the forecast period.
Based on product type, dairy products are anticipated to hold a market share of 15.7% in 2024.
The United States is projected to grow at a CAGR of 6.5% through 2034.
China's ready-to-eat food market is projected to rise with a CAGR of 7.3% during the forecast period.

"Some of the factors bolstering the market include the introduction of more exotic products, the surge of private labels, and the premiumization of products. Consumer perceptions of prepared meals are steadily increasing, with customers finding that high-speed cooking times and convenience are optimal," Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).

Competitive Landscape

Nestlé, Dr. Oetker, Campbell Soup Company, Nomad Foods, Danone, Vietnam Hanfimex Corporation, and General Mills Inc. are key ready-to-eat food manufacturers listed in the report. The market is fragmented due to several international and domestic companies.

Key Companies Profiled

Nestlé
Dr. Oetker
Campbell Soup Company
Nomad Foods
Danone
Vietnam Hanfimex Corporation
General Mills Inc.
California Pizza Kitchen
McCain Foods Ltd.
MTR Foods Private Limited
Conagra Brands, Inc.
Atkins Nutritionals, Inc.

Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.

Leading manufacturers are focusing on product innovation to meet the emerging health choices of consumers around the world. Companies are using strategies such as partnerships, innovation, online advertising campaigns, and new product developments to expand their product portfolios and customer bases.

Recent Developments:

In 2022, VegaBytz Company introduced plant-based, 100% vegan meat products in India, offering ready-to-eat meat, chicken, tuna meals, and curry products made from plants.
In 2021, Nomad acquired Fortenova's Frozen Food Business Group (FFBG) to expand its product portfolio.
In 2022, McCain Foods acquired Scelta Products. Through this acquisition, the company's position in the prepared frozen appetizer market will be strengthened, and frozen appetizers will gain more impetus and production capacity.

Ready-to-eat Food Market Segmentation by Category

By Product Type:

Dairy Products
Instant Breakfast/Cereals
Bakery and Confectionary
Meat and Poultry
Frozen Pizza
Pasta and Noodles
Savory Snacks
Prepared Salads

By Sales Channel:

Food Service

Hotel, Restaurant, Cafes
Bakeries and Patisseries
Quick Service Restaurants (Sandwicheries, Fast Casual, Coffee Shops)

Airport Retail
Travel Retail
Retail

Hypermarket/Supermarket
Convenience Stores
Departmental Stores
Wholesale Stores
Mass Grocery Retailers
Specialty Stores

Online

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa

Get More Valuable Insights

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global ready-to-eat food market, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.

The study incorporates compelling insights on the ready-to-eat food market based on product type (dairy products, instant breakfast/cereals, bakery and confectionary, meat and poultry, frozen pizza, pasta and noodles, savory snacks, prepared salads), sales channel (food service [hotel, restaurant, cafes, bakeries and patisseries, quick service restaurants (sandwiches, fast casual, coffee shops)] airport retail, travel retail, retail [hypermarket/supermarket, convenience stores, departmental stores, wholesale stores, mass grocery retailers, specialty stores] online), and region.

Request to Access the Detail Research Methodology from here!

About the Food & Beverage Division at Future Market Insights (FMI)

Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights (FMI) helps clients from all over the globe with their unique market intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has lucidly analyzed the food & beverage industry in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.

About the Author:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and market analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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