Worldwide Frozen Ready Meal Products Industry to 2027 - Key Drivers and Challenges

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Sep 13, 2022, 14:45 ET

DUBLIN, Sept. 13, 2022 /PRNewswire/ -- The "Global Frozen Ready Meal Products Market Outlook, 2027" report has been added to ResearchAndMarkets.com's offering.

This report gives a complete insight into the market performance of ready meal products and its growth globally. People globally have developed the habit of consuming convenience meals, which have diverted their attention towards prepared or pre-prepared foods.

This has been due to a change in consumer lifestyles over the last few years. Continuous busy lifestyle and limited time available for cooking in a hectic work schedule have inclined consumers toward the consumption of ready-to-make frozen food. Companies are also coming up with meal kits, which also include mixed dinner to attract working women who not get sufficient time for cooking a full meal.

This report provides a detailed analysis of the performance of ready meals globally along with historical and forecasted analysis including the top profiled companies. This growing adaption in the market will surely let the frozen ready meal products to grow with an expected CAGR of above 5% during the forecast period.

In recent years, ready-to-eat food has emerged as one of the most versatile global ready meals market segments. A rise in convenience trends and a parallel rise in demand for specific meal solutions have resulted in strong demand for frozen ready meals.

The frozen food and beverage industry is viewed as a one-stop shop for customers on the go, offering everything from frozen sweets to appetizers and meals. The growing consumer preference for convenience foods indirectly benefits the growing demand for frozen ready meal because they take less time and effort to prepare than cooking from scratch. Due to the consumers' hectic lifestyles, the processed food market is driven by a greater need for convenience. As a result, the demand for frozen goods rises. Increasing disposable income is another factor that significantly impacts the growth of the frozen ready meals market because it increases consumer purchasing power.

Owing to this increasing demand, the manufacturers have been mainly focusing on the nutritional contents, microbiological safety, and other measures while preparing frozen food. The frozen ready meal market has been dominated by the top three regions namely North America, Europe, Asia- Pacific, apart from that the growth in the Middle-East region being at a developing. Different components influencing the market are the- changing food utilization designs, expanding urbanization, less time, and more disposable income.

The availability of ready meals has increased which is largely supported by the distribution through supermarket and hypermarket and the online platforms as they have made it easy to reach. The increase in the number of people working in emerging economies such as China and India, as well as the trend toward longer and more variable working hours, has resulted in a progressive shift away from the traditional paradigm of daily cooking.

This segment contains vegetable and non- vegetable meals, frozen pizza, frozen chapattis, etc. that is very much popular among the consumers as it provides a diverse menu with a convenient preparation. These products are packed in hygienic conditions to ensure zero contamination and improved shelf life. As the number of working people has increased, the necessity to save time in food preparation also increased; which is profitable for the marketers. Frozen convenience foods sold by food supply chain companies continue to contribute significantly to revenue. Additional revenue share is expected soon as convenience stores expand their frozen ready meal selection and internet sales tap into previously untapped market opportunities.

One of the most recent market trends is online grocery shopping and the introduction of new apps that make it easier for consumers to select their preferred products. Customers prefer online shopping because of its convenience and variety. According to the obtained data, nearly 25% of the population purchased food and groceries from online retail channels. Retail ready meal shopping is emerging as one of the platforms for companies to showcase and sell their food products as the Internet and smartphone penetration grows. A rise in convenience patterns, as well as a simultaneous increase in need for customized meal options, has resulted in strong desire for frozen packed meals.

Covid-19 Impacts:

During the covid-19 outbreak, a large number of the population became more concerned about their health. Therefore, people are more cautious about what they eat. The danger of increased blood pressure continues since frozen ready meals include a significant concentration of preservatives and salt. The use of additive preservatives to extend the life of grocery items may operate against the frozen ready meal market's usual sales cycle. Covid-19 pandemic outbreak benefited the frozen ready meal business due to its ease.

Since many bachelors were confined towards their houses and residences, bachelors had to rely on quick and prepared meals to sustain life. Diners and other outlets were closed due to covid lockdown and social distancing conventions, which increased the market demand for frozen ready meals. For the frozen ready meal market, the post-coronavirus scenario is anticipated to bring mixed feelings. Marketers must consider consumer views, which demand high quality and reasonable price along with low health risk factors in frozen ready meals. Overall, during the forecast period, the frozen ready meal economy is predicted to rise at a stable pace.

Major companies in the market

Aryzta AG, General Mills Inc., Kraft Heinz Company, Ajinomoto Co. Inc, Nestle S.A., Flowers Foods, Kerry Group

Considered for the report:

Geography: Global
Historic year: 2016
Base year: 2021
Estimated year: 2022
Forecasted year: 2027

Aspects covered in this report

Global frozen Ready Meal market with its value and forecast along with its segments
Region & Country-wise Ready Meal market analysis
Various divers and challenges
Ongoing trends and developments
Top profiled companies

Regions covered in the report

North America (USA, Canada, Mexico)
Europe (UK, Germany, Spain, France, Italy, Russia)
South America (Brazil, Argentina, Chile, Columbia)
Asia-Pacific (China, Japan, Australia, India)
Middle-East & Africa (UAE, Saudi Arabia, Israel)
Africa (South Africa)

Key Topics Covered:

1. Executive Summary

2. Report Methodology

3. Market Structure
3.1. Market Considerate
3.2. Market Definition

4. Economic /Demographic Snapshot

5. Global Frozen Food Market Outlook
5.1. Market Size By Value
5.2. Global Frozen Potato Market Outlook
5.3. Global Frozen Fruits & Vegetables Market Outlook
5.4. Global Frozen Ready Meals Market Outlook
5.5. Global Frozen Meat & Poultry Market Outlook
5.6. Global Frozen Fish/Seafood Market Outlook
5.7. Market Share
5.7.1. By Region
5.7.2. By Company
5.7.3. By Product Type
5.7.4. By Ready Meal Type
5.7.5. By Freezing Technique
5.7.6. By End User
5.7.7. By Sales Channel

6. North America Frozen Ready Meal Market Outlook

7. Europe Frozen Ready Meal Market Outlook

8. Asia-Pacific Frozen Ready Meal Market Outlook

9. Latin America Frozen Ready Meal Market Outlook

10. Middle East Frozen Ready Meal Market Outlook

11. Africa Frozen Ready Meal Market Outlook

12. Policy and Regulatory

13. Market Dynamics
13.1. Market Drivers
13.2. Market Challenges

14. Market Trends and Developments

15. Competitive Landscape
15.1. Porters Five Force Model
15.2. Company Profiles
15.2.1. Aryzta AG.
15.2.2. General Mills Inc.
15.2.3. Kraft Heinz Company
15.2.4. Ajinomoto Co. Inc
15.2.5. Nestle S.A.
15.2.6. Flowers Foods
15.2.7. Kerry Group
15.2.8. Grupo Bimbo S.A.B. De C.V
15.2.9. Mccain Foods Limited
15.2.10. Tyson Foods, Inc.
15.2.11. Kellogg Company
15.2.12. Conagra Brands, Inc
15.2.13. Nomad Foods
15.2.14. Hormel Food
15.2.15. Iceland Food
15.2.16. Al Kabeer Group

16. Strategic Recommendations

17. Disclaimer