The Ready-to-Eat Food Market Journey from US$ 180,000 Million 2022 to US$ 377,945.81 Million 2032

The global ready-to-eat food market is predicted to achieve a total market value of USD 1,80,000 Mn in the year 2022, with a CAGR (compound annual growth rate) of 7.7%, attaining an overall market worth Of USD 3,77,945.81 Mn by the year 2032. Even due to the Covid crisis, the ready-to-eat food sector has shown to be among the fastest & rapidly expanding markets.

Customers frequently favour goods that are more genuine, natural, and customised without compromising on tastes, nutrients, or health objectives. With their busy schedules and active lifestyles, such goods should most importantly assist consumers in maintaining a healthy diet.Customers who have high expectations for food quality, flavour, and appearance but who are also getting busier at work want merchants and producers to communicate effectively.

Due to their passion for food, Millennials and Millennials are driving the demand for high-quality meals, but they might not have the required resources (equipment, knowledge, or time). As a result, there is a market for prepared foods that are more practical for these individuals.

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Key Takeaways:

  • For its enormous market presence, technical advances and innovation, hectic schedules, and high spending power, the United States dominates the ready-to-eat food industry throughout the North American region but also globally.
  • The U.S. has a 65 % market share in the region, with a total market valuation of about USD 44,460 million.
  • In the year 2020, roughly 36% of American adults said they consumed ready-to-eat meals.
  • The highest consumed and selling categories in the Indian ready-to-eat food market include pre-cooked meat and smoked fish, which are expected to create substantial sales income.

“Customers have a preference for ready-to-eat food since it may serve as a useful substitute for a normal diet and has an increased shelf life, making it handier to preserve for later use. Due to their dynamic and hectic lifestyles, youths are the primary target area for this industry. They choose ready-to-eat or easy foods. With such a wide range of consumers, the ready-to-eat sector will have a rapid growth trajectory,” says a lead analyst at Future Market Insights.

Competitive Landscape:

Customers desire ready-to-eat meals which are minimally processed and with a longer shelf-life and few or no preservatives, but not at the expense of sensory attributes. High-Pressure Processing (HPP) technology has a lot of potential as a preservation solution without the use of heat for RTE meals.

A further successful story is MUSH, which prepares overnight cold-soaked oats in milk that is dairy-free, never heated, and free of preservatives and unnatural colors. Plant-based broths, animal stews, and soup pouches are among the culinary selections available at Singapore’s Soup Spoon. Villa Food manufactures classic Italian ready-to-eat meals in Italy, including vegetarian dishes. Tappers in Spain provide many meals during the week, with plant-based options included.

Major corporations are employing creative strategies like new product releases and boosting manufacturing capacity to serve better to the consumers and satisfy their rising demands.  In May in the year 2018, Del Monte Foods, Inc., a prominent food processing company, launched an ‘elegant and classy’ canned Gold pineapple fruit line geared for teenagers.

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Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the Ready-to-Eat presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031.

Segmentation for ready to eat food market

By Product Type:

  • Vegetable-Based
  • Cereal Based
  • Meat/Poultry
  • Others

By Packaging:

  • Canned
  • Retort
  • Frozen or Chilled
  • Others

By Distribution Channel:

  • Online Store
  • Departmental/ Convenience Store
  • Specialty Store
  • Supermarket/ Hypermarket
  •  Others

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA
  • MEA

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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