The global ready-to-eat cups market industry size is expected to expand from US$ 451.5 million in 2023 to US$ 669.6 million by 2033. Over the next ten years (2023 to 2033), global ready-to-eat cup sales are likely to surge at 4.0% CAGR.
A Few Key Trends Listed by Future Market Insights (FMI):
- Growing demand for ready-to-eat cups that offer healthier and more functional food options such as those with organic ingredients, would aid sales.
- Emergence of innovative flavors and cuisines in ready-to-eat cups, including ethnic and international options such as Asian, Mexican, and Mediterranean is a key trend.
- Rising popularity of plant-based and vegan diets is set to lead to a greater availability of ready-to-eat cup options that cater to these dietary preferences.
- As ready-to-eat cups are not limited to just full meals, but also include snack-focused options such as yogurt cups, fruit cups, or granola cups, their demand is projected to expand.
- Growth of e-commerce and direct-to-consumer sales channels is likely to enable brands to reach a wider audience and provide convenient delivery options.
- Technology is projected to be used to enhance the ready-to-eat cup experience such as microwave-safe packaging, self-heating cups, or QR codes.
The enormous population now relies on ready-to-eat foods that can be ordered using smartphone applications such as GoodFood, Daily Harvest, Snap Kitchen, and Real Eats due to their busy lifestyles. This has led to a noticeable growth in the consumption of a variety of ready-to-eat food products through these channels. It’s unsurprising that the internet food delivery sector is expanding quickly.
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Players in this sector provide comparable goods with just little variations in taste, cost, and quality, fueling fierce competition across the globe. To compete for consumer mindshare and recall value, businesses are constantly seeking ways to make their promotional programs as appealing as possible. They believe that once brand recognition is attained, impulsive purchases will lead to sales and eventually inspire loyalty.
Ready-to-eat food products are typically in a cup format, making them single-serve and portable. Both large and small firms are developing new, better-quality ready-to-eat options. They are convenient not just because customers can skip the on-premise experience, but because they also provide a grab-and-go eating alternative at any time. The product always tastes the same and delivers the same quality and amount.
For instance:
- In May 2023, Pasta Noodles Co. declared that it is setting itself apart in the RTE sector by leveraging rapid-cook technology. This innovative approach allows for significantly reduced cooking times, providing consumers with a quick and convenient meal solution. By implementing rapid-cook technology, Pasta Noodles Co. aims to meet the growing demand for RTE options. These would offer both speed and quality, appealing to busy individuals seeking a hassle-free dining experience.
- In September 2022, Pacific Foods embraced the arrival of autumn by introducing a range of new products in the form of organic canned ready-to-serve soups and plant-based chilis. These additions to the company’s lineup cater to growing demand for convenient and wholesome meal options. These feature organic ingredients and delicious flavors to satisfy rising preferences.
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Key Companies Profiled
- Campbells Soup Company
- General Mills
- The Kraft Heinz Company
- RIVIANA FOODS INC.
- Bob’s Red Mill
- Pepsico
- B&G Foods, Inc.
- Conagra Brands
- Nestlé
- Modern Oats
- Hain Celestial
- Pasta Berruto
- Chas E. Ramson Limited
- Barilla Group
- Dr. McDougall’s Right Foods
Ready-To-Eat Cups Market Outlook by Category
By Product Type:
- Soup
- Pasta
- Rice
- Oatmeal
By Nature:
- Organic
- Conventional
By Distribution Channel:
- Store-based Retailing
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Food Stores
- Discount Stores
- Traditional Grocery Retailers
- Online Retailers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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