Overview of the global ready meals market

Market research analysts at Technavio predict that the global ready meals market will grow steadily over the next four years and post a CAGR of almost 5% by 2021. This market research analysis identifies the growing demand for convenient food products as one of the key growth factors for the global ready meals market. In the recent years, consumers have shown a significant shift toward the consumption of packaged and ready-to-eat (RTE) foods. Owing to the hectic life schedules and sedentary lifestyles, people are moving toward packaged and RTE foods for their convenience. Moreover, the rise in urbanization, the inclination of the urban population towards packaged foods, the significant growth in the middle-class population, and the rise in the number of working women, will also contribute to the growth of the market. It has been observed that 8 out of 10 people in Europe prefer frozen or RTE meals owing to its ease of availability and convenience.

In addition to the growing demand for convenient products, the demand for natural and organic food products will also boost the growth of the market. The sedentary lifestyles of the consumers are compelling them to look out for alternative options such as RTE meals. With the awareness of the effects of the increasing preference towards dining out such as obesity, consumers will start preferring natural and organic foods to meet the time constraints without compromising the nutrients. This will subsequently fuel the growth of the ready meals market.

Competitive landscape and key vendors

The ready meals market is highly fragmented with the presence of numerous private vendors. The market is competitive and the vendor competition is mainly based on factors such as price, the inclusion of fortified ingredients, preparation time, product and packaging innovation, brand image, and product promotion.

The leading vendors in the market are-

• Sisters Food Group
• Conagra Brands
• The Kraft Heinz Company
• Nestlé
• Unilever

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Market segmentation by product and analysis of the ready meals market

• Frozen
• Chilled
• Canned
• Dried

The frozen segment accounted for the major share of the ready meals market during 2016. The growth of the segment is mainly attributed to the rise in population within the age bracket of 25 to 49 years coupled with the increase in the sedentary lifestyles. To create a robust work-life balance, the adult population is shifting toward frozen food items such as frozen pizza, chicken meals, beef meals, and vegetarian meals.

Market segmentation by geography and analysis of the ready meals market

• Americas
• APAC
• EMEA

EMEA held the major share of the ready meals market during 2016. Time constraints associated with the preparation of food items are shifting the consumers’ preference toward RTE food products that are convenient and easy to purchase. Additionally, factors such as the rising disposable income, innovative product launches, and the growing urbanization are also contributing to the growth of the market in the region. Moreover, the rising expatriate population in MEA that has led to a considerable shift toward exploring continental dishes, will also have a positive influence on the growth of the market over the next few years.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global ready meals market?
• What are the key market trends impacting the growth of the global ready meals market?
• What are the challenges to market growth?
• Who are the key vendors in the global ready meals market?
• What are the market opportunities and threats faced by the vendors in the global ready meals market?
• Trending factors influencing the market shares in the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global ready meals market?

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