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PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1209884

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PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1209884

Prepared Meals Market Forecasts to 2028 - Global Analysis By Product, Type, Distribution Channel, End User and Geography

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According to Stratistics MRC, the Global Prepared Meals Market is accounted for $159.98 billion in 2022 and is expected to reach $265.36 billion by 2028 growing at a CAGR of 8.8% during the forecast period. Fresh and frozen packaging is used for prepared meals. They need to be prepared a little in addition to being heated. The demand for high-pressure processing (HPP) technology has increased due to consumers' preference for packaged "ready meals" with fewer preservatives and a longer shelf life. This technology eliminates pathogens and other spoilage microorganisms by applying pressure that is spread by water. Using this cutting-edge technology, shelf life can be increased by two to three times without the use of preservatives.

According to the British Federal Association, in April 2021, the frozen category grew ahead of the retail channel at 11.5% and also ahead of its chilled and fresh categories.

Market Dynamics:

Driver:

Increased Demand for Convenience Foods

Since they save time and effort for working professionals with busy schedules, the demand for ready-to-eat and convenience foods has rapidly increased. Because of their growing fascination with cutting-edge packaged foods, Millennials and Generation Z are driving the introduction of high-end products. Furthermore, those who consider themselves "foodies" are driving up demand for higher-quality, more nutrient-dense ready-to-eat foods.

Restraint:

Health concerns

Because of consumer concerns about their health and their misconceptions about the effects of ready meals, this further hinders the market growth. Consumers have also been turned off to these meals as a result of incidents like the UK's horse meat scandal. Additionally, the market for ready meals has restricted growth prospects because manufacturers cannot assure consistency and quality using the current transportation and storage systems.

Opportunity:

Increasing Penetration of Several Food Manufacturers

For consumers with hectic schedules require food options that combine quality, flavour, nutrition, and fuss-free preparation, prepared meals are an easy and convenient lifestyle alternative. After convenience, health is the most significant trend driving market innovation. Manufacturers are emphasising pre-made meals with ingredients that have clear health benefits, like oats and antioxidants. Producers are currently introducing natural and healthier ready meals as a result of rising consumer demand for prepared meals.

Threat:

Availability of counterfeit products

Due to the widespread use of food products that have been inaccurately branded, adulteration of ready meals containing fake ingredients causes significant financial loss to major players. Counterfeiting is the issue the sector faces. Additionally, the reputation and brand loyalty of well-known brands are frequently tarnished by counterfeiting, and as a result, leading market players encounter obstacles in widening their markets.

COVID-19 Impact:

Due to the COVID-19 pandemic pressuring many consumers to stay at home and necessitating the purchase of prepared meal products, demand for prepared meals has increased and currently outperforms supply. The pandemic ramped up this growth by deterring people from dining out and encouraging them to switch to online grocery stores. Demand was seen for both ready-made meals purchased online and for delivery of meals from restaurants. More online meal options and more intense competition resulted from consumers' demand for convenience and food products that can be consumed while on the go.

The frozen meals segment is expected to be the largest during the forecast period

The market segment for frozen meals held the largest share globally during the forecast period because, when compared to chilled products, the product has a longer shelf life, which helps maintain the product's nutritional value and freshness. Additionally, frozen ready meals are a more practical alternative to chilled products, driving up demand for frozen prepared meals.

The non-vegetarian segment is expected to have the highest CAGR during the forecast period

The non-vegetarian segment held the highest CAGR for ready meals in 2021, and it is anticipated that it will continue to hold this position throughout the forecast period as the non-vegetarian demand has benefited from consumer demand for protein-rich foods like chicken nuggets with added value, sausages, and salami. Due to growing hygienic concerns with fresh products on the market, frozen non-vegetarian packaged food is becoming more popular among consumers.

Region with largest share:

Owing to aspects like the introduction of more exotic products, the drive toward premiumization, and the influence of private labels, Europe is predicted to account for the largest market share during the projection period. Additionally, the U.K. dominates the consumption of these meals in Europe. Half of the ready meal sales in Europe are composed of the U.K., France, and Germany. Moreover, the hectic lifestyles of consumers are fueling an increase in the demand for convenience food products, which is boosting market expansion in this region.

Region with highest CAGR:

Due to the region's growing target population, the Asia-Pacific region is predicted to experience the highest growth during the forecast period. The market is expanding as a result of rising consumer disposable income and increased awareness of ready-meal products. Furthermore, the demand for pre-packaged meals will also grow as a result of rising living standards and rapid industrialization in emerging economies like India. Additionally, the increased participation of women in the Japanese labour force has aided the development of ready meals by increasing demand for reducing the time and effort required to prepare breakfast and dinner meals.

Key players in the market

Some of the key players in Prepared Meals market include Green Mill Foods, Tyson Foods, McCain Foods, Nestle S.A., ConAgra Brands, Millennium Foods, Sister Food Group, Kellogg Company, Nomad Foods, Unilever, Fridge Foods Group, General Mills, Gourmet Foods, Dr. Oetker and J.M. Smucker Co.

Key Developments:

In September 2021, BOSH launched its first range of vegan packaged eatables in Morrisons. The product range includes Shepherd's Pie and Chilli Non-Carne, which have been made in collaboration with packaged meal specialist Oscar Mayer.

In January 2021, India-based The Taste Company expanded its product portfolio to include non-vegetarian pre-packed meals. These are made with traditional home-style cooking methods to eliminate the need for preservatives or artificial colors.

Products Covered:

  • Frozen Meals
  • Canned Meals
  • Chilled Meals
  • Prepared Salads
  • Dried Ready Meals

Types Covered:

  • Vegetarian
  • Non-vegetarian
  • Vegan

Distribution Channels Covered:

  • Supermarkets & Hypermarkets
  • Convenience Stores
  • Online Retail
  • Other Distribution Channels

End Users Covered:

  • Residential
  • Food Services

Regions Covered:

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • Italy
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • New Zealand
    • South Korea
    • Rest of Asia Pacific
  • South America
    • Argentina
    • Brazil
    • Chile
    • Rest of South America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • South Africa
    • Rest of Middle East & Africa

What our report offers:

  • Market share assessments for the regional and country-level segments
  • Strategic recommendations for the new entrants
  • Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
  • Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

  • Company Profiling
    • Comprehensive profiling of additional market players (up to 3)
    • SWOT Analysis of key players (up to 3)
  • Regional Segmentation
    • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
  • Competitive Benchmarking

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Product Code: SMRC22306

Table of Contents

1 Executive Summary

2 Preface

  • 2.1 Abstract
  • 2.2 Stake Holders
  • 2.3 Research Scope
  • 2.4 Research Methodology
    • 2.4.1 Data Mining
    • 2.4.2 Data Analysis
    • 2.4.3 Data Validation
    • 2.4.4 Research Approach
  • 2.5 Research Sources
    • 2.5.1 Primary Research Sources
    • 2.5.2 Secondary Research Sources
    • 2.5.3 Assumptions

3 Market Trend Analysis

  • 3.1 Introduction
  • 3.2 Drivers
  • 3.3 Restraints
  • 3.4 Opportunities
  • 3.5 Threats
  • 3.6 Product Analysis
  • 3.7 End User Analysis
  • 3.8 Emerging Markets
  • 3.9 Impact of Covid-19

4 Porters Five Force Analysis

  • 4.1 Bargaining power of suppliers
  • 4.2 Bargaining power of buyers
  • 4.3 Threat of substitutes
  • 4.4 Threat of new entrants
  • 4.5 Competitive rivalry

5 Global Prepared Meals Market, By Product

  • 5.1 Introduction
  • 5.2 Frozen Meals
  • 5.3 Canned Meals
  • 5.4 Chilled Meals
  • 5.5 Prepared Salads
  • 5.6 Dried Ready Meals

6 Global Prepared Meals Market, By Type

  • 6.1 Introduction
  • 6.2 Vegetarian
  • 6.3 Non-vegetarian
  • 6.4 Vegan

7 Global Prepared Meals Market, By Distribution Channel

  • 7.1 Introduction
  • 7.2 Supermarkets & Hypermarkets
  • 7.3 Convenience Stores
  • 7.4 Online Retail
  • 7.5 Other Distribution Channels

8 Global Prepared Meals Market, By End User

  • 8.1 Introduction
  • 8.2 Residential
  • 8.3 Food Services

9 Global Prepared Meals Market, By Geography

  • 9.1 Introduction
  • 9.2 North America
    • 9.2.1 US
    • 9.2.2 Canada
    • 9.2.3 Mexico
  • 9.3 Europe
    • 9.3.1 Germany
    • 9.3.2 UK
    • 9.3.3 Italy
    • 9.3.4 France
    • 9.3.5 Spain
    • 9.3.6 Rest of Europe
  • 9.4 Asia Pacific
    • 9.4.1 Japan
    • 9.4.2 China
    • 9.4.3 India
    • 9.4.4 Australia
    • 9.4.5 New Zealand
    • 9.4.6 South Korea
    • 9.4.7 Rest of Asia Pacific
  • 9.5 South America
    • 9.5.1 Argentina
    • 9.5.2 Brazil
    • 9.5.3 Chile
    • 9.5.4 Rest of South America
  • 9.6 Middle East & Africa
    • 9.6.1 Saudi Arabia
    • 9.6.2 UAE
    • 9.6.3 Qatar
    • 9.6.4 South Africa
    • 9.6.5 Rest of Middle East & Africa

10 Key Developments

  • 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
  • 10.2 Acquisitions & Mergers
  • 10.3 New Product Launch
  • 10.4 Expansions
  • 10.5 Other Key Strategies

11 Company Profiling

  • 11.1 Green Mill Foods
  • 11.2 Tyson Foods
  • 11.3 McCain Foods
  • 11.4 Nestle S.A.
  • 11.5 ConAgra Brands
  • 11.6 Millennium Foods
  • 11.7 Sister Food Group
  • 11.8 Kellogg Company
  • 11.9 Nomad Foods
  • 11.10 Unilever
  • 11.11 Fridge Foods Group
  • 11.12 General Mills
  • 11.13 Gourmet Foods
  • 11.14 Dr. Oetker
  • 11.15 J.M. Smucker Co.
Product Code: SMRC22306

List of Tables

  • Table 1 Global Prepared Meals Market Outlook, By Region (2020-2028) ($MN)
  • Table 2 Global Prepared Meals Market Outlook, By Product (2020-2028) ($MN)
  • Table 3 Global Prepared Meals Market Outlook, By Frozen Meals (2020-2028) ($MN)
  • Table 4 Global Prepared Meals Market Outlook, By Canned Meals (2020-2028) ($MN)
  • Table 5 Global Prepared Meals Market Outlook, By Chilled Meals (2020-2028) ($MN)
  • Table 6 Global Prepared Meals Market Outlook, By Prepared Salads (2020-2028) ($MN)
  • Table 7 Global Prepared Meals Market Outlook, By Dried Ready Meals (2020-2028) ($MN)
  • Table 8 Global Prepared Meals Market Outlook, By Type (2020-2028) ($MN)
  • Table 9 Global Prepared Meals Market Outlook, By Vegetarian (2020-2028) ($MN)
  • Table 10 Global Prepared Meals Market Outlook, By Non-vegetarian (2020-2028) ($MN)
  • Table 11 Global Prepared Meals Market Outlook, By Vegan (2020-2028) ($MN)
  • Table 12 Global Prepared Meals Market Outlook, By Distribution Channel (2020-2028) ($MN)
  • Table 13 Global Prepared Meals Market Outlook, By Supermarkets & Hypermarkets (2020-2028) ($MN)
  • Table 14 Global Prepared Meals Market Outlook, By Convenience Stores (2020-2028) ($MN)
  • Table 15 Global Prepared Meals Market Outlook, By Online Retail (2020-2028) ($MN)
  • Table 16 Global Prepared Meals Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
  • Table 17 Global Prepared Meals Market Outlook, By End User (2020-2028) ($MN)
  • Table 18 Global Prepared Meals Market Outlook, By Residential (2020-2028) ($MN)
  • Table 19 Global Prepared Meals Market Outlook, By Food Services (2020-2028) ($MN)
  • Table 20 North America Prepared Meals Market Outlook, By Country (2020-2028) ($MN)
  • Table 21 North America Prepared Meals Market Outlook, By Product (2020-2028) ($MN)
  • Table 22 North America Prepared Meals Market Outlook, By Frozen Meals (2020-2028) ($MN)
  • Table 23 North America Prepared Meals Market Outlook, By Canned Meals (2020-2028) ($MN)
  • Table 24 North America Prepared Meals Market Outlook, By Chilled Meals (2020-2028) ($MN)
  • Table 25 North America Prepared Meals Market Outlook, By Prepared Salads (2020-2028) ($MN)
  • Table 26 North America Prepared Meals Market Outlook, By Dried Ready Meals (2020-2028) ($MN)
  • Table 27 North America Prepared Meals Market Outlook, By Type (2020-2028) ($MN)
  • Table 28 North America Prepared Meals Market Outlook, By Vegetarian (2020-2028) ($MN)
  • Table 29 North America Prepared Meals Market Outlook, By Non-vegetarian (2020-2028) ($MN)
  • Table 30 North America Prepared Meals Market Outlook, By Vegan (2020-2028) ($MN)
  • Table 31 North America Prepared Meals Market Outlook, By Distribution Channel (2020-2028) ($MN)
  • Table 32 North America Prepared Meals Market Outlook, By Supermarkets & Hypermarkets (2020-2028) ($MN)
  • Table 33 North America Prepared Meals Market Outlook, By Convenience Stores (2020-2028) ($MN)
  • Table 34 North America Prepared Meals Market Outlook, By Online Retail (2020-2028) ($MN)
  • Table 35 North America Prepared Meals Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
  • Table 36 North America Prepared Meals Market Outlook, By End User (2020-2028) ($MN)
  • Table 37 North America Prepared Meals Market Outlook, By Residential (2020-2028) ($MN)
  • Table 38 North America Prepared Meals Market Outlook, By Food Services (2020-2028) ($MN)
  • Table 39 Europe Prepared Meals Market Outlook, By Country (2020-2028) ($MN)
  • Table 40 Europe Prepared Meals Market Outlook, By Product (2020-2028) ($MN)
  • Table 41 Europe Prepared Meals Market Outlook, By Frozen Meals (2020-2028) ($MN)
  • Table 42 Europe Prepared Meals Market Outlook, By Canned Meals (2020-2028) ($MN)
  • Table 43 Europe Prepared Meals Market Outlook, By Chilled Meals (2020-2028) ($MN)
  • Table 44 Europe Prepared Meals Market Outlook, By Prepared Salads (2020-2028) ($MN)
  • Table 45 Europe Prepared Meals Market Outlook, By Dried Ready Meals (2020-2028) ($MN)
  • Table 46 Europe Prepared Meals Market Outlook, By Type (2020-2028) ($MN)
  • Table 47 Europe Prepared Meals Market Outlook, By Vegetarian (2020-2028) ($MN)
  • Table 48 Europe Prepared Meals Market Outlook, By Non-vegetarian (2020-2028) ($MN)
  • Table 49 Europe Prepared Meals Market Outlook, By Vegan (2020-2028) ($MN)
  • Table 50 Europe Prepared Meals Market Outlook, By Distribution Channel (2020-2028) ($MN)
  • Table 51 Europe Prepared Meals Market Outlook, By Supermarkets & Hypermarkets (2020-2028) ($MN)
  • Table 52 Europe Prepared Meals Market Outlook, By Convenience Stores (2020-2028) ($MN)
  • Table 53 Europe Prepared Meals Market Outlook, By Online Retail (2020-2028) ($MN)
  • Table 54 Europe Prepared Meals Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
  • Table 55 Europe Prepared Meals Market Outlook, By End User (2020-2028) ($MN)
  • Table 56 Europe Prepared Meals Market Outlook, By Residential (2020-2028) ($MN)
  • Table 57 Europe Prepared Meals Market Outlook, By Food Services (2020-2028) ($MN)
  • Table 58 Asia Pacific Prepared Meals Market Outlook, By Country (2020-2028) ($MN)
  • Table 59 Asia Pacific Prepared Meals Market Outlook, By Product (2020-2028) ($MN)
  • Table 60 Asia Pacific Prepared Meals Market Outlook, By Frozen Meals (2020-2028) ($MN)
  • Table 61 Asia Pacific Prepared Meals Market Outlook, By Canned Meals (2020-2028) ($MN)
  • Table 62 Asia Pacific Prepared Meals Market Outlook, By Chilled Meals (2020-2028) ($MN)
  • Table 63 Asia Pacific Prepared Meals Market Outlook, By Prepared Salads (2020-2028) ($MN)
  • Table 64 Asia Pacific Prepared Meals Market Outlook, By Dried Ready Meals (2020-2028) ($MN)
  • Table 65 Asia Pacific Prepared Meals Market Outlook, By Type (2020-2028) ($MN)
  • Table 66 Asia Pacific Prepared Meals Market Outlook, By Vegetarian (2020-2028) ($MN)
  • Table 67 Asia Pacific Prepared Meals Market Outlook, By Non-vegetarian (2020-2028) ($MN)
  • Table 68 Asia Pacific Prepared Meals Market Outlook, By Vegan (2020-2028) ($MN)
  • Table 69 Asia Pacific Prepared Meals Market Outlook, By Distribution Channel (2020-2028) ($MN)
  • Table 70 Asia Pacific Prepared Meals Market Outlook, By Supermarkets & Hypermarkets (2020-2028) ($MN)
  • Table 71 Asia Pacific Prepared Meals Market Outlook, By Convenience Stores (2020-2028) ($MN)
  • Table 72 Asia Pacific Prepared Meals Market Outlook, By Online Retail (2020-2028) ($MN)
  • Table 73 Asia Pacific Prepared Meals Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
  • Table 74 Asia Pacific Prepared Meals Market Outlook, By End User (2020-2028) ($MN)
  • Table 75 Asia Pacific Prepared Meals Market Outlook, By Residential (2020-2028) ($MN)
  • Table 76 Asia Pacific Prepared Meals Market Outlook, By Food Services (2020-2028) ($MN)
  • Table 77 South America Prepared Meals Market Outlook, By Country (2020-2028) ($MN)
  • Table 78 South America Prepared Meals Market Outlook, By Product (2020-2028) ($MN)
  • Table 79 South America Prepared Meals Market Outlook, By Frozen Meals (2020-2028) ($MN)
  • Table 80 South America Prepared Meals Market Outlook, By Canned Meals (2020-2028) ($MN)
  • Table 81 South America Prepared Meals Market Outlook, By Chilled Meals (2020-2028) ($MN)
  • Table 82 South America Prepared Meals Market Outlook, By Prepared Salads (2020-2028) ($MN)
  • Table 83 South America Prepared Meals Market Outlook, By Dried Ready Meals (2020-2028) ($MN)
  • Table 84 South America Prepared Meals Market Outlook, By Type (2020-2028) ($MN)
  • Table 85 South America Prepared Meals Market Outlook, By Vegetarian (2020-2028) ($MN)
  • Table 86 South America Prepared Meals Market Outlook, By Non-vegetarian (2020-2028) ($MN)
  • Table 87 South America Prepared Meals Market Outlook, By Vegan (2020-2028) ($MN)
  • Table 88 South America Prepared Meals Market Outlook, By Distribution Channel (2020-2028) ($MN)
  • Table 89 South America Prepared Meals Market Outlook, By Supermarkets & Hypermarkets (2020-2028) ($MN)
  • Table 90 South America Prepared Meals Market Outlook, By Convenience Stores (2020-2028) ($MN)
  • Table 91 South America Prepared Meals Market Outlook, By Online Retail (2020-2028) ($MN)
  • Table 92 South America Prepared Meals Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
  • Table 93 South America Prepared Meals Market Outlook, By End User (2020-2028) ($MN)
  • Table 94 South America Prepared Meals Market Outlook, By Residential (2020-2028) ($MN)
  • Table 95 South America Prepared Meals Market Outlook, By Food Services (2020-2028) ($MN)
  • Table 96 Middle East & Africa Prepared Meals Market Outlook, By Country (2020-2028) ($MN)
  • Table 97 Middle East & Africa Prepared Meals Market Outlook, By Product (2020-2028) ($MN)
  • Table 98 Middle East & Africa Prepared Meals Market Outlook, By Frozen Meals (2020-2028) ($MN)
  • Table 99 Middle East & Africa Prepared Meals Market Outlook, By Canned Meals (2020-2028) ($MN)
  • Table 100 Middle East & Africa Prepared Meals Market Outlook, By Chilled Meals (2020-2028) ($MN)
  • Table 101 Middle East & Africa Prepared Meals Market Outlook, By Prepared Salads (2020-2028) ($MN)
  • Table 102 Middle East & Africa Prepared Meals Market Outlook, By Dried Ready Meals (2020-2028) ($MN)
  • Table 103 Middle East & Africa Prepared Meals Market Outlook, By Type (2020-2028) ($MN)
  • Table 104 Middle East & Africa Prepared Meals Market Outlook, By Vegetarian (2020-2028) ($MN)
  • Table 105 Middle East & Africa Prepared Meals Market Outlook, By Non-vegetarian (2020-2028) ($MN)
  • Table 106 Middle East & Africa Prepared Meals Market Outlook, By Vegan (2020-2028) ($MN)
  • Table 107 Middle East & Africa Prepared Meals Market Outlook, By Distribution Channel (2020-2028) ($MN)
  • Table 108 Middle East & Africa Prepared Meals Market Outlook, By Supermarkets & Hypermarkets (2020-2028) ($MN)
  • Table 109 Middle East & Africa Prepared Meals Market Outlook, By Convenience Stores (2020-2028) ($MN)
  • Table 110 Middle East & Africa Prepared Meals Market Outlook, By Online Retail (2020-2028) ($MN)
  • Table 111 Middle East & Africa Prepared Meals Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
  • Table 112 Middle East & Africa Prepared Meals Market Outlook, By End User (2020-2028) ($MN)
  • Table 113 Middle East & Africa Prepared Meals Market Outlook, By Residential (2020-2028) ($MN)
  • Table 114 Middle East & Africa Prepared Meals Market Outlook, By Food Services (2020-2028) ($MN)
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