Market Research Report
Global Ready Meals Market - Growth, Trends and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||389922|
|Published||Content info||100 Pages
Delivery time: 2-3 business days
|Global Ready Meals Market - Growth, Trends and Forecasts (2020 - 2025)|
|Published: January 1, 2020||Content info: 100 Pages||
The global ready meals market is projected to grow at a CAGR of 4.62% during the forecast period.
The ready meals market is segmented by product type into frozen ready meals, chilled ready meals, canned ready meals, dried ready meals. By distribution channel, the market is fragmented into supermarkets/ hypermarkets, convenience stores, online retailers, other distribution channels. The regional analysis of the market has also been included in the report.
Frozen Ready Meals is the Largest Segment in the Market
The growth of the frozen meals market is primarly driven by the growth of the market in the developing regions such as Asia-Pacific. The developed regions are having a comparatively lower market. The increasing urbanization is the major factor for the growth in the region. The increase in demand for the convenience food along with, the incorporation of healthy ingredients in the ready meals, the innovative packaging and the proper regulations are also factors affecting the growth of the market. The frozen pizza segment is considered as one of the major segments under frozen ready meals, as they are considered as the most popular junk food. In addition, improvements in nutritional value of frozen pizza, interesting ingredient profiles are fuelling the market.
Europe Remains the Major Market
Consumers in the United Kingdom lead a busy and hectic lifestyle, which has considerably reduced their time for preparation of food. This has made them switch to frozen foods, dried, and canned ready meals. The rise in online shopping of ready meals in the region has led the consumers to question about their health. The consumers are unable to strike a balance between quality of food and the unavailability of time, which they could have utilized in cooking fresh meals. Frozen soups are a new product category and are expected to witness strong growth in the coming years, due to convenience and time-saving the capacity of ready meals.
The ready foods market is a highly consolidated market with the top players holding the major market share. There are various small and regional players also exist in the market. The players are diversifying their product portfolio to include more ready meals into their product range. Nomad Foods Ltd, Nestle, McCain Foods, Findus Group Ltd, Premier Foods, ConAgra, etc are the major players in the market.