Global Ready-to-Eat Food Market Size To Worth USD 269.1 Billion by 2033 |
Category: Food & BeveragesGlobal Ready-to-Eat Food Market Size To Worth USD 269.1 Billion by 2033
According to a research report published by Spherical Insights & Consulting, the Global Ready-to-Eat Food Market is to Grow from USD 179.3 Billion in 2023 to USD 269.1 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.14% during the projected period.
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Browse key industry insights spread across 255 pages with 110 Market data tables and figures & charts from the report on the "Global Ready-to-Eat Food Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Dairy Products, Instant Breakfast/Cereals, Bakery and Confectionary, Meat and Poultry, and Frozen Pizza), By Sales Channel (Food Service, Airport Retail, Travel Retail), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/ready-to-eat-food-market
Ready-to-eat food is defined as food that has been precooked and packaged for consumption by potential customers. The growing acceptance of food service companies, such as restaurants, hotels, and bakeries, has contributed significantly to industry expansion. Consumers' modern lifestyles increasingly include prepared meals, which will promote the rise of the ready-to-eat food sector. The rising demand for frozen prepared foods such as frozen meat, frozen veggies, cheese, pizzas, and bread has considerably aided the rise of the ready-to-eat food sector. Dietary preferences are changing drastically in the market as consumers demand healthier, plant-based, and more sustainable options. However, the increasing competition could restrict market growth.
The dairy products held the biggest market share over the predicted period.
Based on the product type, the global ready-to-eat food market is categorized into dairy products, instant breakfast/cereals, bakery and confectionary, meat and poultry, and Frozen pizza. Among these, dairy products held the biggest market share over the predicted period. Ready-to-eat dairy-based meals for children are particularly formulated to meet the nutritional needs of growing children. Ready-to-eat milk-based options such as cheese, yogurt, paneer, and milk-based desserts are convenient, healthy, and appealing to a diverse range of customers. India is the world's largest milk producer, accounting for 25% of global production. In 2023-24, India exported 63,738.47 metric tons of dairy products to the world, totaling $272.64 million.
The food service segment holds the biggest market share over the projection period.
Based on the sales channel, the global ready-to-eat food market is categorized into food service, airport retail, and travel retail. Among these, the food service segment holds the biggest market share over the projection period. The capacity of ready-to-eat foods to fulfill a wide range of dietary demands and cuisines strengthens their market dominance and positions them as a key component in the sector's growth. Pre-made meals are great for the fast-paced food service business since they are efficient and convenient. The hotels, cafés, bakeries and patisseries, and fast food restaurants are instances of food service businesses that cater to a wide range of customers.
Asia-Pacific is having the biggest share of the global ready-to-eat food market over the forecast period.
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Asia-Pacific is having the biggest share of the global ready-to-eat food market over the forecast period. The market is being driven by rising demand for frozen and ready meals, such as frozen meat products, as well as frozen snacks including pizza, frozen cereals, soups, and so on. Some of the factors boosting market demand include the introduction of more exotic items, the entry of private labels, and product premiumization. Consumer impressions of ready meals are continuously improving, with convenience and quick preparation times being especially appealing. China and India are projected to boost regional demand because of their rapid expansion and potential.
North-America is predicted to grow at the fastest pace throughout the forecast period. The region has a long-standing culture of convenience and time efficiency, which supports clients' fast-paced lives. RTE food items are popular and extensively available in North America. In addition, a robust and contemporary distribution network, together with the presence of key market participants, ensures that RTE items are easily available and visible across a number of retail channels.
Major vendors in the global ready-to-eat food market include Nomad Foods, Danone, Vietnam Hanfimex Corporation, General Mills Inc, California Pizza Kitchen, McCain Foods Ltd, MTR Foods Private Limited, Conagra Brands Inc, Atkins Nutritionals, Inc, MZ Food Products Pvt. Ltd, Nutririte Foods Private Limited, Nestlé, Dr. Oetker, Campbell Soup Company, SATS Ltd, Masala Mama, and, Others.
Recent Developments
- In May 2024, SATS Food Solutions' Bengaluru facility focuses on automation and IoT to capitalize on India's growing ready-to-eat market. The firm seeks to maintain flavor consistency and create new recipes through chef collaborations.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global ready-to-eat food market based on the below-mentioned segments:
Global Ready-to-Eat Food Market, By Product Type
- Dairy Products
- Instant Breakfast/Cereals
- Bakery and Confectionary
- Meat and Poultry
- Frozen Pizza
Global Ready-to-Eat Food Market, By Sales Channel
- Food Service
- Airport Retail
- Travel Retail
Global Ready-to-Eat Food Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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