Ready Meals Market Size, Share, Analysis, Trends, Growth, 2032

Ready Meals Market Insights

Zion Market Research has published a report on the global Ready Meals Market, estimating its value at USD 166.05 Billion in 2023, with projections indicating that it will reach USD 354.74 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 8.8% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Ready Meals Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Global Ready Meals Market: Overview

Ready meals are precooked and prepackaged meals that can be consumed with minimum or no preparation. It is readily available in the metropolitan cities around the global. The ease of convenience provided by it in today’s busy lifestyle of people is the major driver for the ready meals market.

Ready meals are pre-packaged, often fully or partially cooked meals that require minimal preparation before consumption, typically just heating. They are a popular choice among consumers due to their convenience and time-saving nature, appealing especially to individuals with busy lifestyles or limited cooking time. Available in supermarkets, these meals come in various formats, such as frozen, chilled, canned, or meal kits, which may require some minor assembly or heating. With a wide variety of options catering to different tastes, dietary needs, and portion sizes, ready meals offer a convenient alternative to traditional cooking. They include a diverse range of cuisines, from pasta dishes and curries to soups and salads, allowing consumers to enjoy quick, flavorful meals at home without the hassle of meal preparation.

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Global Ready Meals Market: Growth Factors

The global ready meals market is anticipated to observe significant growth over the years. The consumer preference for ready meals over home-cooked food is mainly due to its high-speed cooking time, which is the major factor that is driving the market. This growing trend has even compelled the key players in the market to launch new innovative ready meals based products. The inclusion of healthy ingredients in the ready meals has surged its demand from the target audience of health-conscious consumers, who are mostly working professionals. The hectic lifestyle and less time available for cooking food at home have incited the need for ready meals. Moreover, cost-effectiveness, as compared to food from restaurants, is another factor that drives the overall ready meals market. Rapid urbanization in emerging economies such as India, China, Japan, etc. has great opportunities for the ready meals market and will witness humongous growth in the upcoming years.

The ready meals save time which would have been instead used for the preparation of the food. The students all across the globe coupled with the working population have the ease of convenience at their first priority. This changing lifestyle has boosted the overall demand for convenience foods as the ready meals provide ease of convenience and save time. The rising per capita income is one more factor that will augment the overall market for the upcoming years. 

Global Ready Meals Market: Segmentation

Based on product type, the ready meals market is segmented into frozen ready meals, chilled ready meals, canned ready meals, and dried ready meals.

The frozen ready meals are high in demand and dominate the entire market with the largest share.

Based on the distribution channel, the ready meals market is segmented into the supermarkets/hypermarkets, convenience stores, online retail stores, and others.

The hypermarket & supermarket have the largest share of the market in terms of distribution channels of ready meals.

Food products come under common household entities and therefore are bought along with the other home essentials from the supermarkets by most of the consumers.

Ready Meals Market: Report Scope

Global Ready Meals Market: Regional Analysis

Based on regions, the global ready meals market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The North America region held a notable share in 2019.

The Asia Pacific region is one of the most lucrative regions for market players. This surge is due to the increasing adoption of ready meals in the developing economies such as India, China, etc.

Global Ready Meals Market: Competitive Players

Some of key players in ready meals market are

• Nomad Foods Ltd
• Nestle SA
• McCain Foods Ltd.
• Premier Foods plc
• Conagra Brands Inc.
• Oetker Group
• Findus Group Ltd.

The global ready meals market is segmented as follows:

By Product Type

• Frozen Ready Meals
• Chilled Ready Meals
• Canned Ready Meals
• Dried Ready Meals

By Distribution Channel

• Supermarkets/Hypermarkets
• Convenience Stores
• Online Retail Stores
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa