According to Future Market Insights (FMI), the worldwide frozen ready meals market is valued at US$ 44,318.9 million in 2024 and is anticipated to reach US$ 73,862.0 million by 2034. Total frozen ready meal sales are likely to accelerate at a robust CAGR of 5.2% from 2024 to 2034.
The global frozen ready meals market is witnessing significant growth, fueled by the increasing consumer preference for convenient and ready-to-eat food products on a global scale.
While some customers still consider frozen food as a backup option, there is a growing trend among core consumers who prefer purchasing products with specific meals in mind. Frozen food is increasingly seen as a cost-effective and time-saving choice during grocery shopping.
Frozen ready meals, offering a complete lunch or dinner option, are becoming popular for time-conscious individuals with hectic schedules. The convenience of these products, requiring less preparation time than cooking from scratch, is a major factor influencing the sales of frozen ready meals.
Concerns about food security and the need to reduce food wastage further contribute to the preference for frozen food products, including frozen ready meals, due to their extended shelf life and easy availability.
The market is expected to experience rapid growth in the coming years, driven by the wide range of frozen ready meals, such as frozen chicken meals and frozen vegetarian meals, available on online sales platforms.
However, the market expansion may face limitations due to growing concerns about the potential side effects of frozen foods. Given their longer shelf life, artificial additives are often incorporated into frozen food products, raising apprehensions among consumers.
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A high amount of sodium is added to frozen foods to maintain their qualitative characteristics for a substantial period of time. Excessive consumption of sodium and artificial food additives through frozen ready-meal products can have harmful effects on consumers’ health. Also, a variety of physical and chemical processes are performed on frozen ready meal products to improve their nutritive value.
Leading companies are constantly launching new products and delivery services to increase their sales and expand their customer base. Further, they are improving their production processes and packaging.
In the frozen food sector, packaging is essential since it improves the quality and appearance of the product. The shelf life of frozen food products can be increased by implementing suitable packaging methods during production.
Packaging that appeals to the eye can draw in lots of customers and increase demand for frozen food goods. To comply with environmental standards and draw in ecologically conscious customers, top manufacturers are creating biodegradable packaging options. Technological advances in packaging techniques can greatly increase product sales since they enhance product quality to a larger level.
Key Takeaways from the Report:
- The global frozen ready meals market is set to reach a valuation of US$ 44,318.9 million in 2024.
- Global frozen ready meal sales are forecast to rise at 5.2% CAGR between 2024 and 2034.
- By product type, demand for vegetarian meals is poised to increase at a considerable pace during the next ten years.
- The United States frozen ready meals market is anticipated to expand at 8.6% CAGR over the next ten years, reaching a valuation of US$ 73,862.0 million by 2034.
- Frozen ready meals demand across India is set to surge at 11.9% CAGR through 2034.
- The United Kingdom market is likely to touch a valuation of US$ 1,280.6 million in 2034.
“Rising food insecurity and increase in food wastage will have a profound influence on frozen food sales including frozen ready meals over the next ten years as these foods have extended shelf life and reduce wastage to a great level,” Nandini Roy Choudhury, Client Partner at Future Market Insights
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Who is Winning?
Leading frozen ready meal companies profiled in the report include General Mills Inc., Pinnacle Foods, Inc., J.R. Simplot Co., Nestle S.A, California Pizza Kitchen, H.J.Heinz, Dr. Oetker GmbH, ConAgra Foods, Inc, Daiya Foods Inc., Atkins Nutritionals Inc., and FRoSTA AG.
Key Market Developments:
- In 2018, Conagra Brands Inc. acquired Pinnacle Foods to strengthen its customer base and accelerate the next wave of change.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the frozen ready meals market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study provides compelling insights into the frozen ready meals market based on product type (vegetarian meals, chicken meals, beef meals), and distribution channel (modern trade, food chain services, convenience stores, departmental stores, online stores) across several regions.
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Global Frozen Ready Meals Industry Segmentation
By Product Type:
- Vegetarian Meals
- Chicken Meals
- Beef Meals
- Other Meals
By Distribution Channel:
- Modern Trade
- Food Chain Services
- Convenience Stores
- Departmental Stores
- Online Stores
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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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