Market Research Report
Europe Ready Meals Market - Growth, Trends and Forecast (2020-2025)
|Published by||Mordor Intelligence LLP||Product code||945977|
|Published||Content info||110 Pages
Delivery time: 2-3 business days
|Europe Ready Meals Market - Growth, Trends and Forecast (2020-2025)|
|Published: June 1, 2020||Content info: 110 Pages||
Europe Ready Meals Market is projected to grow at a CAGR of 5.70% during the forecast period (2020-2025).
Chilled Ready Meals is the Fastest Growing Segment
Sales of chilled ready meals are strongly inclined toward developed markets, which include Japan, Europe, and other countries. The main growth factors for chilled ready meals in developed markets include convenience, health, and premiumization. The availability of chilled ready meals with traditional and exotic cuisine or flavor is one of the factors that is adding a benefit to the growth of chilled ready meals specially through the region. This helps in meeting the meal requirement of time constraint consumers without compromising with their taste buds. There is a growing demand for nutritious ready meals, which in turn, is providing a great platform for the manufacturers to launch products to provide consumers an option that they can trust to be not only quick, but tasty and also healthy.
France is the Fastest Growing Region
The people of France spent more hours on work and even are used to engage in more than one job, due to the financial crisis. As a result, this has forced them to rely more on ready meals and on-the-go packaged foods from the past few years, which triggered the demand for ready meals. With the intensifying trend of their busy lifestyles and single-parent families, people have no time to prepare meals from scratch. They, therefore, choose meals that can be quickly prepared, like, ready-meals and canned foods. France's distribution channel is diverse and sophisticated. For instance: According to USDA Foreign Agricultural Service, supermarkets remain the most popular stores, but specialized food stores, frozen food stores, and hard discounters have increased their retail sector market share in recent years. The frozen ready foods market of France is facing key constraints, like competition from established and multinational players and strict EU certification of some frozen and chilled ready food products, discouraging the local players to establish themselves.
The Europe ready meals market is a highly fragmented market with the presence of many players competing for market share. The players are diversifying their product portfolio to include more ready meals into their product range. The players are also focusing on expansion, mergers and acquisitions, and partnerships to meet the demand of consumers. The key players in the market are Nomad Foods, Nestle SA, Unilever, Iceland Foods Ltd., and Tyson Foods, Inc.