Ready Meals Products Market Size, Share, & Trends Analysis Report (2023 – 2030)

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Report Overview

The global ready meals market was valued at USD 39.9 billion in 2021 and is projected to expand at a CAGR of 4.2% from 2022 to 2030. Growing demand for convenient food among the working population is driving the ready meals market growth. Ready meals are convenient, easy-to-prepare, and require minimal cooking time, which is further fuelling the market growth. Furthermore, the rising trend of urbanization, particularly in developing countries such as India and China, is expected to propel the demand for ready meals over the forecast period.

Moreover, the increasing demand for ready meals among the health-conscious population is expected to drive the market. Ready meals offer nutritional benefits such as lower fat, salt, and sugar content, which is attractive to health-conscious consumers. Additionally, the rising popularity of ready meals due to their convenience and cost savings is augmenting the market growth. Furthermore, the increasing demand for ethnic and international cuisine is also driving the market.

Furthermore, advancements in technology have enabled manufacturers to offer ready meals with an extended shelf-life, thereby enabling manufacturers to reach a wider customer base. For instance, in January 2021, Nissin Food Group announced the launch of a new range of ready meals, which can be stored at room temperature for up to one year.

In addition, the increasing demand for convenience food among the working population is accelerating the demand for ready meals. Furthermore, the rising trend of food delivery services is also driving the market. The rising trend of food delivery services is expected to propel the demand for ready meals. For instance, in October 2020, Hormel Foods Corporation announced the launch of a new range of ready-to-eat meals in collaboration with Grubhub, an online food delivery service.

Moreover, the rising trend of organic and vegan ready meals is also boosting the market growth. Ready meals are increasingly being incorporated into vegan and organic diets, as they are considered to be safe, convenient, and nutritional. In addition, the rising trend of on-the-go consumption is also driving the market. The increasing awareness regarding the health benefits of ready meals is propelling the demand for on-the-go ready meals. Furthermore, the increasing collaborations between convenience stores and ready meal manufacturers is also driving the market.

Product Insights

The ready meals segment accounted for the largest market share in 2022. Ready meals offer convenience and time savings, which have become key factors in consumer choice in recent years. According to a survey conducted by the National Centre for Social Research, in October 2020, the number of people eating ready meals at least once a week has risen from 33% in 2008 to 43% today. Furthermore, the increasing availability of ready meals in supermarkets, convenience stores, and online retailers has further boosted their popularity.

The frozen ready meals segment is likely to grow at the fastest CAGR of 6.2% over the forecast period. The growing demand for convenience food is a major factor driving the segment. According to a survey conducted by the Department of Agriculture and Rural Development, in August 2020, the number of people buying frozen ready meals has risen from 12% in 2008 to 24% today. Moreover, the availability of organic, gluten-free, and vegan ready meals has further increased the demand for frozen ready meals.

Distribution Channel Insights

The supermarkets and hypermarkets segment dominated the market with a share of over 65.1% in 2022. The segmental growth is attributed to the increasing popularity of supermarkets and hypermarkets as the primary outlets for purchasing ready meals and the rising preference among consumers for these stores due to their convenience. Supermarkets and hypermarkets offer a wide variety of products and provide customers with a one-stop shop for their purchase. In addition, these stores offer the convenience of placing orders online and delivering them to the customer’s doorstep.

The online segment is expected to witness the highest CAGR of 10.6% during the forecast period. The positive outlook of the segment can be attributed to the increasing use of e-commerce platforms, such as Amazon, to purchase ready meals. Consumers are increasingly using online channels to purchase ready meals due to the convenience, competitive pricing, and wide range of product offerings. In addition, the development of new online platforms, such as MealPal and AllBirds, which offer subscription-based meal delivery services, has further boosted the online sales of ready meals.

Type Insights

The frozen meals segment accounted for the largest revenue share of 53.9% in the year 2022. The convenience of frozen meals, the wide variety of products available and the ability to store them for a long time are the major factors driving the market growth. The growing popularity of frozen meals among young adults is further driving the segment growth. Furthermore, the introduction of products with high nutritional value and low fat content is also boosting the demand for frozen meals.

The chilled meals segment is expected to witness highest CAGR of 6.2% over the forecast period. The growing health consciousness among consumers and the increasing demand for convenience products are driving the growth of the chilled meals segment. The increasing demand for healthier and ethically sourced meals is also contributing to the growth of this segment. The availability of a wide variety of chilled meals with longer shelf life is also boosting the demand for the segment.

Regional Insights

Europe is expected to be the largest market for ready meals, driven by the increasing trend of working women and changing lifestyles. In Germany, the ready meals market is anticipated to witness the fastest growth, owing to the increasing availability of ready-to-eat meals and the presence of leading players in the region. For instance, in April 2021, Nestlé S.A. launched a range of ready-to-eat meals, such as the range of “Duo-Plats” and “Gourmet”, under its “Buitoni” brand in the German market.

The Asia Pacific is anticipated to witness the highest CAGR, owing to the increasing disposable income, changing lifestyles, and increasing number of working women in the region. Furthermore, the growing demand for convenience food products is expected to drive the demand for ready meals in the region. The emerging countries, such as China and India, are expected to witness high growth, owing to the evolving lifestyles and the increasing disposable income of consumers in these countries.

Financial Projections

In this part of the ready meals products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your ready meals products. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a ready meals products business comes from sales of ready meals, online orders, and catering services. Here you will find a list with a description of each of them and other possible sources of profit such as fundraising, food & beverage, the sale of merchandise, and leasing the place for parties and corporate events.

Projecting Expenses
In this section, all the regular expenses related to keeping the ready meals products business running will be described. The list of operating expenses includes raw materials, ingredients, packaging, wages, advertising, research & development, utilities, insurance policies, and others.

Key companies & market share insights

Some of the key companies operating in the ready meals market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Nestle launched its new range of ready-made meals to cater to the needs of busy professionals.

– In August 2022, Conagra Brands Inc. launched a range of plant-based ready meals for vegetarians.

– In October 2022, Kraft Heinz launched a range of ready meals tailored to meet the needs of health-conscious consumers.

Some of the prominent players in the ready meals market include:

– Nestle SA
– Conagra Brands Inc.
– Kraft Heinz Company
– General Mills Inc.
– McCain Foods Limited
– Unilever Plc
– H.J. Heinz Company
– Kellogg’s Company
– Campbell Soup Company
– Tyson Foods Inc.

Global Ready Meals Market Segmentation

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global ready meals products market based on product type, distribution channel, ingredient, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Frozen Ready Meals
– Chilled Ready Meals
– Shelf Stable Ready Meals

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Ingredient Outlook (Revenue, USD Million, 2017 – 2030)

– Meat
– Fruits & Vegetables
– Dairy Products
– Others

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

Frequently Asked Questions

[Q]: What are the Key Drivers of the Global Ready Meals Market?
[A]: Key drivers of the global ready meals market include the increasing number of working women and the rising demand for convenience foods. Additionally, an increasing focus on healthy eating, rapid urbanization, and the availability of a large variety of regional flavors are also expected to drive the market.

[Q]: Who are the Leading Manufacturers of Ready Meals?
[A]: The leading manufacturers of ready meals include Nestle S.A., Kraft Foods Group, Inc., Unilever Group, ConAgra Foods, Inc., General Mills, Inc., Tyson Foods, Inc., and McCain Foods Limited.

[Q]: What is the Forecast for the Global Ready Meals Market?
[A]: The global ready meals market is expected to witness a CAGR of 4.5% during the forecast period 2020-2027.

[Q]: How is the Global Ready Meals Market Segmented?
[A]: The global ready meals market is segmented into product type, packaging type, distribution type, and region. By product type, the market is segmented into pizza, sandwiches, snacks, entrees, and others. By packaging type, the market is segmented into cans, bags, boxes, trays, and others. By distribution type, the market is segmented into store-based and non-store-based.

[Q]: What is the Regional Outlook for the Global Ready Meals Market?
[A]: North America is expected to hold a significant share in the global ready meals market during the forecast period. This can be attributed to the presence of a large number of convenience stores and supermarkets in the region. Additionally, increasing demand for frozen food products and the presence of a large number of working women in the region is expected to further drive the market growth.

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Ready Meals Products Market Size, Share, & Trends Analysis Report (2023 – 2030)

Report Overview

The global ready meals market was valued at USD 39.9 billion in 2021 and is projected to expand at a CAGR of 4.2% from 2022 to 2030. Growing demand for convenient food among the working population is driving the ready meals market growth. Ready meals are convenient, easy-to-prepare, and require minimal cooking time, which is further fuelling the market growth. Furthermore, the rising trend of urbanization, particularly in developing countries such as India and China, is expected to propel the demand for ready meals over the forecast period.

Moreover, the increasing demand for ready meals among the health-conscious population is expected to drive the market. Ready meals offer nutritional benefits such as lower fat, salt, and sugar content, which is attractive to health-conscious consumers. Additionally, the rising popularity of ready meals due to their convenience and cost savings is augmenting the market growth. Furthermore, the increasing demand for ethnic and international cuisine is also driving the market.

Furthermore, advancements in technology have enabled manufacturers to offer ready meals with an extended shelf-life, thereby enabling manufacturers to reach a wider customer base. For instance, in January 2021, Nissin Food Group announced the launch of a new range of ready meals, which can be stored at room temperature for up to one year.

In addition, the increasing demand for convenience food among the working population is accelerating the demand for ready meals. Furthermore, the rising trend of food delivery services is also driving the market. The rising trend of food delivery services is expected to propel the demand for ready meals. For instance, in October 2020, Hormel Foods Corporation announced the launch of a new range of ready-to-eat meals in collaboration with Grubhub, an online food delivery service.

Moreover, the rising trend of organic and vegan ready meals is also boosting the market growth. Ready meals are increasingly being incorporated into vegan and organic diets, as they are considered to be safe, convenient, and nutritional. In addition, the rising trend of on-the-go consumption is also driving the market. The increasing awareness regarding the health benefits of ready meals is propelling the demand for on-the-go ready meals. Furthermore, the increasing collaborations between convenience stores and ready meal manufacturers is also driving the market.

Product Insights

The ready meals segment accounted for the largest market share in 2022. Ready meals offer convenience and time savings, which have become key factors in consumer choice in recent years. According to a survey conducted by the National Centre for Social Research, in October 2020, the number of people eating ready meals at least once a week has risen from 33% in 2008 to 43% today. Furthermore, the increasing availability of ready meals in supermarkets, convenience stores, and online retailers has further boosted their popularity.

The frozen ready meals segment is likely to grow at the fastest CAGR of 6.2% over the forecast period. The growing demand for convenience food is a major factor driving the segment. According to a survey conducted by the Department of Agriculture and Rural Development, in August 2020, the number of people buying frozen ready meals has risen from 12% in 2008 to 24% today. Moreover, the availability of organic, gluten-free, and vegan ready meals has further increased the demand for frozen ready meals.

Distribution Channel Insights

The supermarkets and hypermarkets segment dominated the market with a share of over 65.1% in 2022. The segmental growth is attributed to the increasing popularity of supermarkets and hypermarkets as the primary outlets for purchasing ready meals and the rising preference among consumers for these stores due to their convenience. Supermarkets and hypermarkets offer a wide variety of products and provide customers with a one-stop shop for their purchase. In addition, these stores offer the convenience of placing orders online and delivering them to the customer’s doorstep.

The online segment is expected to witness the highest CAGR of 10.6% during the forecast period. The positive outlook of the segment can be attributed to the increasing use of e-commerce platforms, such as Amazon, to purchase ready meals. Consumers are increasingly using online channels to purchase ready meals due to the convenience, competitive pricing, and wide range of product offerings. In addition, the development of new online platforms, such as MealPal and AllBirds, which offer subscription-based meal delivery services, has further boosted the online sales of ready meals.

Type Insights

The frozen meals segment accounted for the largest revenue share of 53.9% in the year 2022. The convenience of frozen meals, the wide variety of products available and the ability to store them for a long time are the major factors driving the market growth. The growing popularity of frozen meals among young adults is further driving the segment growth. Furthermore, the introduction of products with high nutritional value and low fat content is also boosting the demand for frozen meals.

The chilled meals segment is expected to witness highest CAGR of 6.2% over the forecast period. The growing health consciousness among consumers and the increasing demand for convenience products are driving the growth of the chilled meals segment. The increasing demand for healthier and ethically sourced meals is also contributing to the growth of this segment. The availability of a wide variety of chilled meals with longer shelf life is also boosting the demand for the segment.

Regional Insights

Europe is expected to be the largest market for ready meals, driven by the increasing trend of working women and changing lifestyles. In Germany, the ready meals market is anticipated to witness the fastest growth, owing to the increasing availability of ready-to-eat meals and the presence of leading players in the region. For instance, in April 2021, Nestlé S.A. launched a range of ready-to-eat meals, such as the range of “Duo-Plats” and “Gourmet”, under its “Buitoni” brand in the German market.

The Asia Pacific is anticipated to witness the highest CAGR, owing to the increasing disposable income, changing lifestyles, and increasing number of working women in the region. Furthermore, the growing demand for convenience food products is expected to drive the demand for ready meals in the region. The emerging countries, such as China and India, are expected to witness high growth, owing to the evolving lifestyles and the increasing disposable income of consumers in these countries.

Financial Projections

In this part of the ready meals products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your ready meals products. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a ready meals products business comes from sales of ready meals, online orders, and catering services. Here you will find a list with a description of each of them and other possible sources of profit such as fundraising, food & beverage, the sale of merchandise, and leasing the place for parties and corporate events.

Projecting Expenses
In this section, all the regular expenses related to keeping the ready meals products business running will be described. The list of operating expenses includes raw materials, ingredients, packaging, wages, advertising, research & development, utilities, insurance policies, and others.

Key companies & market share insights

Some of the key companies operating in the ready meals market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Nestle launched its new range of ready-made meals to cater to the needs of busy professionals.

– In August 2022, Conagra Brands Inc. launched a range of plant-based ready meals for vegetarians.

– In October 2022, Kraft Heinz launched a range of ready meals tailored to meet the needs of health-conscious consumers.

Some of the prominent players in the ready meals market include:

– Nestle SA
– Conagra Brands Inc.
– Kraft Heinz Company
– General Mills Inc.
– McCain Foods Limited
– Unilever Plc
– H.J. Heinz Company
– Kellogg’s Company
– Campbell Soup Company
– Tyson Foods Inc.

Global Ready Meals Market Segmentation

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global ready meals products market based on product type, distribution channel, ingredient, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Frozen Ready Meals
– Chilled Ready Meals
– Shelf Stable Ready Meals

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Ingredient Outlook (Revenue, USD Million, 2017 – 2030)

– Meat
– Fruits & Vegetables
– Dairy Products
– Others

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

Frequently Asked Questions

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