Ready Meals Market To Grow Enormously with Size Worth $294.70 Billion By 2025 |Grand View Research, Inc.



The global ready meals market size is expected to reach USD 294.70 billion by 2025 registering a CAGR of 4.3%, according to a new report by Grand View Research, Inc. Ready meals are highly convenient and help save time and efforts required for meal preparation. This has led to the increased demand for such meals, especially by the working population and students across the globe.
In addition, these meals are a cost-effective and convenient alternative as they are precooked and thus require less preparation time. Moreover, rapidly expanding food packaging industry will drive the market growth. Rising demand for high-quality and additive-free food with extended shelf life is expected to fuel the market growth further. In addition, companies in the market are introducing nutritious ready meals along with attractive packaging, which, in turn, is boosting the product sales.
However, increasing safety concerns associated with ready meals might affect the growth of the key companies. Moreover, rising cases of obesity and other lifestyle diseases are anticipated to hinder the market growth. In the product type segment, the frozen and chilled segment holds the largest share in the market. Frozen and chilled food products have high demand owing to their extended shelf life as compared to the other product types.
The canned product segment is estimated to register the fastest CAGR from 2019 to 2025. North America held the largest share of the global market in 2018 and will continue growing at a healthy CAGR during the forecast years owing to increasing target population. Asia Pacific is the second-largest regional market owing to rising population, consumer disposable income, and rapid industrialization in emerging economies, such as India and China.
The ready meals market is witnessing a significant rise in demand globally, mainly through online channels. Will the suppliers be able to keep up with this massive surge in demand? Our team is working to account for this rapid surge in our estimates. The report will account for Covid19 as a key market contributor.
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/ready-meals-market/request/rs4
Further key findings from the study suggest:
·         The canned product type segment is projected to ascend at the fastest CAGR of 4.84% over the forecast years
·         North America is estimated to be the dominant regional market by 2025; however, Central & South America is projected to expand at the maximum growth rate of 5.7% from 2019 to 2025
·         Some of the key companies in the ready meals market are ConAgra Brands, Inc.; Nestle S.A.; Kraft Heinz Company; Chao Xiang Yuan Food Co. Ltd.; Dr. Oetker; BRF S.A.; Berkshire; General Mills; Massa Leve; and Tyson Foods
·         Most of these manufacturers focus on product development and capacity and portfolio expansion to estimate existing and future demand patterns from upcoming application segments
The global ready meals market size was estimated at USD 219.69 billion in 2018 and is estimated to expand further at a CAGR of 4.3% over the forecast period. Rapidly expanding food packaging industry is estimated to drive the market. Growing demand for minimally processed and additive-free food products with extended shelf life is expected to fuel the market growth.
Another key factor driving the market is changing consumer lifestyle, which boosts demand for convenience foods, such as ready meals. In addition, increasing cases of lifestyle diseases, such as obesity, across the globe will augment the product sales. Ready meals are highly convenient and help save time and efforts required for meal preparation.
This has led to the increased demand for such meals, especially by the working population and students across the globe. They are a cost-effective alternative as they are precooked. Moreover, easy availability of such meals throughout the year will have a positive impact on their demand. In addition, print and media advertisement has played a big role in creating awareness about these products, thereby augmenting the overall market growth.
Rise in per capita income levels is another factor driving the net sales in most parts of the world. However, increasing safety concerns associated with these meals might affect the market growth. Moreover, rising cases of obesity and other lifestyle diseases are anticipated to hinder the market growth. Thus, manufacturers are focusing on introducing nutritious and healthier products to retain their market share.
Based on product type, the market is classified into frozen & chilled, canned, and dried. Frozen and chilled product segment led the market in 2018 accounting for a share of more than 44%. Frozen and chilled ready meals have high demand than other types owing to their extended shelf life. Frozen pizza is the most popular frozen ready meal and tops the contribution in the global revenue.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-ready-meals-market
Manufacturers have undertaken several marketing strategies to expand their geographical reach, such as product innovation, mergers and acquisitions, and partnerships. For example, in October 2016, ConAgra Brands, Inc. acquired Pinnacle Foods, a New Jersey-based company. Companies also focus on quality packaging to improve the product shelf life.
They are collaborating with packaging companies to develop advanced and innovative packaging solutions, such as biodegradable barrier tray. Prominent market participants include ConAgra Brands, Inc.; Nestle S.A.; Kraft Heinz Company; Chao Xiang Yuan Food Co. Ltd.; Dr. Oetker; BRF S.A.; Berkshire; General Mills; Massa Leve; and Tyson Foods.
Grand View Research has segmented the global ready meals market on the basis of product type, distribution channel:
Ready Meals Product Type Outlook (Revenue, USD Billion, 2015 - 2025)
·         Frozen and chilled
·         Canned
·         Dried
Ready Meals Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
·         Retail & Supermarket
·         Online Platform
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


Comments

Post a Comment

Popular posts from this blog

Foot Orthotic Insoles Market 2026: What Will Be Changes In Investment Ratio With Opportunity Analysis?? |Grand View Research, Inc.

Image
The global foot orthotic insoles market size is expected to reach USD 5.5 billion by 2026 , according to a new report by Grand View Research, Inc., exhibiting a 6.3% CAGR during the forecast period. Growing incidence of diabetes and plantar fasciitis are expected to drive the market over the forecast period. Moreover, rapid urbanization and increasing disposable income are anticipated to propel growth in future. Technological advancements, spurred by ongoing investments in R&D, are expected to increase growth potential in the coming years. Moreover, rise in geriatric population, which is susceptible to orthopedic disorders, is impelling product demand globally. For instance, in 2017 as per the U.S. Census Bureau, the number of people aged 65 or older increased by 1.6 million from 2014 to 2015. In addition, increasing incidence of sports injuries and rising prevalence of osteosarcoma in the region has led to the need for various orthotics devices, which is expected to drive ...
Read more

A Look into Smokehouse Industry……Deep Analysis…..

Image
The global smokehouse market size is anticipated to reach USD 157.2 million by 2025 , according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 2.2% during the forecast period. Rising need for a healthy lifestyle has led consumers to prefer griller or barbequed food over fried food and other kinds of fast food. This trend is expected to have a positive impact on the market growth. The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution ...
Read more

A Look into Shapewear Industry……Deep Analysis…..

Image
The global shapewear market size is expected to reach USD 3.80 billion by 2025 registering a CAGR of 7.7%, according to a new report by Grand View Research, Inc. The introduction of various products according to the type of garments is expected to support the market growth in the years to come. Growing target population across the globe is also augmenting the market growth. Changing lifestyle incurs increased investment in fitness and related accessories, which has positively impacted the market growth. The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe,...
Read more