Global Ready-to-Eat Food Market: By Product Type(Pasta and Noodles, Instant breakfast and cereals, Frozen pizza, Snacks, Meat/ Poultry products, Savoury Snacks, Prepared Salads, instant soups, and Others), By Packaging Type (Canned, Frozen/ Chilled/ Retort and Others),By Distribution Channel (Online Stores, Supermarkets and Hypermarkets, Convenience Stores, Departmental Stores, and Food Speciality Stores), and By Regional Analysis (North America, Europe, Asia-Pacific, South America, Middle East & Africa)—Forecast till 2032

Description

Market Overview:

The Global Ready-To-Eat (RTE) Food Market is on the rise and has been experiencing significant growth, reaching a size of US$179.5 Billion in 2023 and expected to expand further to US$260.4 Billion by 2032, with a projected Compound Annual Growth Rate (CAGR) of 4.18% from 2024 to 2032.This growth is mainly due to factors like the booming food and beverage industry and the increasing urban population. As cities grow, people lead busier lives, driving up the demand for convenient food options. RTE foods fit the bill perfectly—they’re pre-prepared and require minimal time and effort to consume. These foods often contain additives like flavors, preservatives, and antioxidants. While some may be concerned about these additives, they play a crucial role in extending shelf life and reducing wastage. Plus, RTE foods are cost-effective compared to eating out or cooking from scratch, making them attractive to busy consumers.

Market Size for Global Ready to Eat Food Market on the Basis of Revenues in USD Bn, 2018-2023

Source: XX Research Analysis

Factors Leading to the Growth of the Global Ready-to-Eat Food Market

• Consumers’ increasingly busy lifestyles are driving the growth of the ready-to-eat food market as they seek quick and convenient meal options to fit into their hectic schedules, prioritizing ease and speed in food preparation and consumption.
• The expansion of convenience stores, coupled with a rising working-class population, contributes to the market’s expansion by providing easy access to ready-to-eat food products, catering to the on-the-go needs of busy individuals who require quick and hassle-free meal solutions.

Restraints for the Global Ready-to-Eat Food Market –

• Catering to Health-Conscious Consumers –A key challenge for the global ready-to-eat food market is the rising preference for fresh, healthy options among health-conscious consumers. As awareness of nutrition grows, there’s a shift towards freshly prepared meals with high-quality ingredients. Ready-to-eat foods, often seen as processed, face scrutiny for nutritional content and additives. This necessitates innovation to balance convenience with the demand for fresh, nutritious choices, highlighting the need for ongoing adaptation in the industry.

What is the Current Structure of the Global Ready to Eat Food Market?

By Product Type, the Pasta and NoodlesSegment held the largest market revenue in the Global Market

In 2022, the noodles and pasta segment commanded a significant market share. Ready-to-eat pasta meals, including spaghetti, penne, fettuccine, and macaroni, offer diverse protein sources like shrimp, meatballs, chicken, and plant-based options. These meals are designed for quick serving, requiring minimal cooking, and are conveniently packaged in single-serving containers, aiding portion control and reheating. Factors such as evolving food habits, busy lifestyles, exposure to diverse cultures, and the growing demand for convenience foods are fueling the popularity of ready-to-eat noodles. Manufacturers are responding with a variety of options, including vegan, gluten-free, and organic noodles, catering to the increasing need for convenient meal solutions.

By Packaging Type,the Frozen FoodSegment dominated the largest CAGR in the Global Market

The Frozen Ready-To-Eat food category maintains its stronghold as the leading segment in the ready-to-eat food market, poised to maintain its dominance in the forecast period. This dominance is largely attributed to the growing preference for frozen dinner options, thanks to their extended shelf life. Among the myriad of frozen ready meals, frozen pizza emerges as a standout favorite, playing a pivotal role in driving global revenue within this segment.

By Distribution Channel,Supermarkets and HypermarketsSegment held the largest market revenue in the Global Market

Supermarkets and hypermarkets stand out as the frontrunners in the ready-to-eat food market, largely due to their extensive array of options and convenient accessibility. However, the rise of online retail has emerged as a key driver in bolstering sales of these meals. Online platforms offer the convenience of swift delivery, catering to consumers’ desire for quick access to a diverse range of ready-to-eat products. Local delivery services have swiftly adapted to meet this demand, efficiently bringing small quantities of these products directly to customers’ doorsteps. This seamless integration of online retail with traditional supermarket offerings reflects a dynamic shift in consumer preferences towards convenience and accessibility in the ready-to-eat food landscape.

By Regional Analysis, the North AmericanRegion Registered theLargest Market Share in the Global Market

North America boasts a robust and mature ready-to-eat food market, characterized by a strong history of consumer acceptance and widespread product availability. The region’s fast-paced lifestyles drive high demand for convenient food options, making ready-to-eat products a natural fit for the on-the-go eating habits prevalent among North American consumers. With convenience playing a pivotal role in daily routines, ready-to-eat foods offer quick and hassle-free meal solutions, eliminating the need for time-consuming meal preparation. This cultural emphasis on convenience fuels the continued growth and dominance of the North American ready-to-eat food market.

Competitive Landscape

The existence of several domestic and international businesses has caused the market to become fragmented. In order to meet the growing global customer preference for healthier options, producers are concentrating on developing new products that cater to niche markets such as frozen, chilled, vegetarian, and vegan meals. In light of the COVID-19 epidemic, retailers have started expanding their product lines in supermarkets and hypermarkets. To increase the variety of products they provide and the number of customers they serve, they are also concentrating on tactics like collaborations, internet marketing campaigns, creativity, and new product creation. Some of the major players included in the market are Nestlé; General Mills, Inc.; Kellogg Company; Conagra Brands, Inc.; Tyson Foods, Inc.; Dr. Oetker; Nomad Foods; Green Mill Foods; Unilever; 2 Sisters Food Group

Market Segmentation

Global Ready-to-Eat Food Market, ByProduct Type

• Instant Cereals/ Breakfast
• Frozen Pizza
• Bakery and Confectionary
• Instant Soups and Snacks
• Savoury Snacks
• Prepared Salads
• Pasta and Noodles
• Ready Meals
• Meat/ Poultry Based Products
• Others

Global Ready-to-Eat Food Market, By Packaging Type

• Canned
• Frozen/ Chilled
• Retort
• Others

Global Ready-to-Eat Food Market, By Distribution Channel

• Online Stores
• Departmental Stores
• Food Speciality Stores
• Convenience Stores
• Supermarkets and Hypermarkets

Global Ready-to-Eat Food Market, By Regional Analysis

• North America
• Mexico
• United States (U.S.)
• Canada
• Europe
  • Germany
  • United Kingdom (U.K.)
  • France
  • Italy
  • Spain
  • Sweden
  • Austria
  • Rest of Europe (RoE)
• Asia-Pacific (APAC)
  • China
  • Taiwan
  • Japan
  • Vietnam
  • Australia
  • Indonesia
  • South Korea
  • India
  • Bangladesh
  • Rest of Asia Pacific (APAC)
• Middle East & Africa (ME&A)
• Egypt
• South Africa
• GCC
• Nigeria
• Rest of ME&A
• South America
• Brazil
• Argentina
• Rest of South America

Major Key Operating Market Leaders Include

• Nomad Foods Ltd.
• Nestle
• McCain Foods Limited
• Haldiram Snacks Private Limited
• Oetker
• Conagra Brands Incorporation
• The Kellogg Company
• Campbell Soup Companys
• General Mills Incorporation
• Himalaya Food International Ltd.
• MTR Foods Pvt. Ltd.
• Premier Foods Group Ltd.
• Venky’s India Private Limited
• The Hain Celestial Company
• California Pizza Kitchen
• ITC Limited
• Greencore Group PLC