IMARC Group, a leading market research company, has recently releases report titled “Ready to Eat (RTE) Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global ready to eat food market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

What is the Market Prediction for Ready to Eat Food?

The global ready to eat (RTE) food market size reached US$ 173.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 229.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.6% during 2023-2028.

What is Ready to Eat Food?

Ready-to-eat food is a convenient and time-saving option that is gaining popularity in today's fast-paced world. It refers to food items that are fully cooked, prepared, and packaged, requiring minimal or no additional cooking before consumption. These pre-prepared meals cater to the busy lifestyles of individuals who have limited time for meal preparation. Characterized by their quick and easy nature, ready-to-eat foods are designed to be consumed without any further cooking or preparation. They are often pre-packaged in portions, ensuring convenience and portion control. These foods undergo specialized processes, such as canning, freezing, or dehydration, to extend their shelf life while maintaining their taste and nutritional value. The features of ready-to-eat food include a wide range of options, from simple snacks like chips and cookies to complete meals like pasta dishes, sandwiches, and salads. They come in various forms, including canned goods, frozen meals, and dehydrated snacks. These foods are often designed to be portable, making them suitable for on-the-go consumption.

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What are the Growth Prospects and Trends in the Ready to Eat Food Market?

The increasing demand for convenience foods is driving the market growth of ready-to-eat meals. This can be primarily attributed to the changing lifestyles, along with the steadily expanding working population based and their hectic schedules, which leaves little to no time for a complete meal preparation. This, in turn, is fueling the popularity of these quick and easy meal options, which is acting as a growth inducing factor. In addition to this, various advancements in food processing and packaging technologies are propelling the growth of the market. The rising urbanization and the rise of dual-income households are boosting the market growth of ready-to-eat meals. The expansion of organized retail channels, such as supermarkets and hypermarkets, is driving the availability and accessibility of these products. The rising disposable incomes, particularly in the emerging economies, are increasing consumer spending on convenience foods, thereby contributing to the market growth.

Increasing awareness about nutrition and rising health-consciousness is leading to the development of healthier and more nutritious ready-to-eat meal options, thus driving the market toward growth. The market is also being driven by the rising popularity of snack culture and on the go meal consumption. Besides this, the rising number of quick-service restaurants (QSRs) and the emerging café culture, coupled with the increasing consumer expenditure capacities, are facilitating the demand for RTE food products, thereby contributing to market growth. Proliferating online retail platforms offering a wide variety of ready to eat food options at affordable price points are contributing to the market growth. Other factors, such as strategic marketing collaborations and aggressive promotional activities, along with rising disposable income levels, are creating a positive outlook for the ready to eat food market across the globe.

Who are the Key Players Operating in the Ready to Eat Food Industry?

Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined with some of the key players.

  • 2 Sisters Food Group (Boparan Holdings)
  • ADF Foods Ltd.
  • Bakkavor Foods Ltd.
  • Birds Eye Ltd.
  • Findus Group Ltd.
  • General Mills Inc.
  • Greencore Group Plc.
  • ITC Limited
  • McCain Foods
  • MTR Foods Pvt Ltd. (Orkla ASA)
  • Nomad Foods Ltd.
  • Premier Foods Group Ltd.

What is Included in Market Segmentation?

The report has categorized the market based on product type, packaging type and distribution channel.

Breakup by Product Type:

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

Based on Packaging Type:

  • Canned
  • Frozen/Chilled
  • Retort
  • Others

Analysed by Distribution Channel:

  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Food Specialty Stores
  • Departmental Stores
  • Online Stores
  • Others

Regional Analysis:

  • North America (United States, Canada)
  • Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)

Key Highlights of the Report:                                                    

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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