Global Ready Meals Market 2016-2020
Scope of the ready meals market
Ready meals have been introduced by the vendors as an alternative meal that is quick and cost-effective, which just requires heating before consumption. These type of food is packaged and is available in quantity for single or two serving. Technavio’s market research analyst expects the global ready meals market to grow at a CAGR of over 4% during the forecast period. The primary reason contributing to the growth of the market is increasing demand for convenience and on-the-go food. Due to the hectic lifestyles, consumers prefer ready-to-eat meals that reduces the preparation or cooking time, thereby leading to the growth of the overall market.
Packaging plays a major role in ready meals sales in terms of retaining the vitamin content, color, product quality, texture, taste, and shelf life. Vendors are collaborating with packaging manufacturers to develop advanced packaging technology for their products to capture consumer base. Biodegradable barrier tray is one such latest technology that is expected to drive the market as it provides a better alternative to the retailers in the form of a low carbon footprint than the aluminium, PP, and CPET packaging.
Segmentation and analysis by product of the ready meals market
- Frozen ready meals
- Chilled ready meals
- Canned ready meals
- Dried ready meals
Frozen ready meals dominated the market in 2015, with a share of more than 52% of the overall market. The main reason supporting the growth of this segment is the increase in desire for convenience. Also, frozen ready meals are considered healthier compared to the other ready meals as they do not contain preservatives and are free from microbial attacks, hence the dominance of this segment is expected to continue until 2020.
Geographical segmentation and analysis of the ready meals market
The introduction of several healthy ready meals such as frozen vegetables, salads, and gluten-free meat to cater to the consumers' needs and demands in Europe has led to its dominance of the global ready meals market in 2015. Germany, UK, France, Spain, and Russia are some of the largest markets for ready meals in Europe.
Competitive landscape and key vendors
The global ready meals market is constantly changing with the changing consumer demands and preferences. Factors such as changing consumer spending pattern, consumer tastes, regional, national, and local economic conditions, and demographic trends can largely impact the performance of the vendors in the market. Therefore, differentiating their product and service offerings with clear and unique value proposition is the primary target of the vendors at present to gain a competitive edge and expand their market shares.
The leading vendors in the market are -
- 2 Sisters Food Group
- Fleury Michon
- Kraft Heinz
Other prominent vendors in the market include Advanced Fresh Concepts, Campbell Soup, Greencore Group, Grupo Herdez, Hormel Foods, Iceland Foods, Iglo Group, JBS, Maple Leaf Foods, McCain, Reser's Fine Foods, Sigma Alimentos, Smithfield Foods, The Findus, The Schwan Food, and Tyson Foods.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global ready meals market?
- What are the key market trends impacting the growth of the global ready meals market?
- What are the challenges to market growth?
- Who are the key vendors in the global ready meals market?
- What are the market opportunities and threats faced by the vendors in the global ready meals market?
- Trending factors influencing the market shares of the Americas, APAC, Europe and ROW.
- What are the key outcomes of the five forces analysis of the global ready meals market?
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