Ready To Eat Food Market by Product and Geography - Forecast and Analysis 2022-2026

The predicted growth for the ready-to-eat food market share from 2021 to 2026 is USD 71.69 billion at a progressing CAGR of 7.15%.

This ready-to-eat food market forecast report extensively covers segmentations by:

• Product - Frozen, ready-to-heat, and ready-to-cook
• Geography - APAC, North America, South America, MEA, and Europe

This ready-to-eat food market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The ready to eat food market report offers information on several market vendors, including BRF SA, Campbell Soup Co., Conagra Brands Inc., Dr. August Oetker Nahrungsmittel KG, Fleury Michon SA, General Mills Inc., Gits Food Products Pvt. Ltd., Godrej Agrovet Ltd., Greencore Group Plc, Haldiram Foods International Pvt. Ltd, ITC Ltd., Massa Leve, McCain Foods Ltd., MTR Foods Pvt. Ltd., Nestle SA, Nomad Foods Ltd., Premier Foods Plc, The Kraft Heinz Co., Tyson Foods Inc., and VH Group among others.

What will the Ready to Eat Food Market Size be During the Forecast Period?

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Ready to Eat Food Market: Key Drivers, Trends, and Challenges

The growth of organized retail sector is notably driving the ready-to-eat food market growth, although factors such as need for adherence to stringent regulations and guidelines may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the ready-to-eat food industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Ready to Eat Food Market Driver

One of the key factors driving growth in the ready-to-eat food market is the growth of the organized retail sector. Hypermarkets and supermarkets are the two major offline distribution channels for ready-to-eat foods. Organized retailing is an integral part of offline distribution channels, which facilitates the purchasing process for consumers and enables them to choose from a diverse range of ready-to-eat foods. An increase in the number of organized retailers that offer shelf space for branded and private-label packaged ready-to-eat foods is expected to drive the market's growth during the forecast period. These retailers have a global presence, which helps them improve the visibility of packaged foods, including ready-to-eat foods, and increases the demand for such products. Therefore, the growth of the organized retail sector is expected to fuel the growth of the ready-to-eat food market in focus during the forecast period.

Key Ready to Eat Food Market Trend

One of the key ready-to-eat food market trends fueling the market growth is the growing prominence of online shopping. E-commerce enables consumers to access regional and global brands of ready-to-eat food products. The increased global penetration of smartphones fuels the significant rise in the number of e-commerce vendors worldwide. Brand-owned online formats and pure-play e-retailers are among the various e-commerce portals offering ready-to-eat food products. E-commerce platforms offer consumers personalized shopping assistance and suggestions about different ready-to-eat food products based on quantity, taste, texture, and flavor. Though offline distribution channels remain the key sales channels for ready-to-eat food products, online distribution channels are predicted to witness rapid growth during the forecast period. Competitively priced offerings and quick delivery services are the major factors for the growth of the global ready-to-eat food market through online distribution channels.

Key Ready to Eat Food Market Challenge

The need for adherence to stringent regulations and guidelines will be a major challenge for the ready-to-eat food market during the forecast period. These rules emphasize proper reviewing of food safety, business operations, insurance, and fire safety. They also involve financial obligations, including licensing, permits, and mandatory food safety training. Food manufacturers must make significant investments to limit the risks associated with consumer exposure to contaminated foods. In India, the Food Safety and Standards Authority of India (FSSAI) lays out the parameters for the certifications of food products. It is responsible for protecting and promoting public health through regulations and supervision of food safety. Complying with these regulations is tough for vendors, and any deviation from the labeling and guidelines specified by regulatory bodies can adversely affect the brand /image of the manufacturers.

This ready-to-eat food market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global ready-to-eat food market as a part of the global packaged foods and meats under the global food products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the ready-to-eat food market during the forecast period.

Who are the Major Ready to Eat Food Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• BRF SA
• Campbell Soup Co.
• Conagra Brands Inc.
• Dr. August Oetker Nahrungsmittel KG
• Fleury Michon SA
• General Mills Inc.
• Gits Food Products Pvt. Ltd.
• Godrej Agrovet Ltd.
• Greencore Group Plc
• Haldiram Foods International Pvt. Ltd
• ITC Ltd.
• Massa Leve
• McCain Foods Ltd.
• MTR Foods Pvt. Ltd.
• Nestle SA
• Nomad Foods Ltd.
• Premier Foods Plc
• The Kraft Heinz Co.
• Tyson Foods Inc.
• VH Group

This statistical study of the ready-to-eat food market encompasses successful business strategies deployed by the key vendors. The ready-to-eat food market is fragmented and the vendors are deploying growth strategies such as pricing strategies to compete in the market.

Product Insights and News

• Campbell Soup Co. 
• Snacks - Through this segment, the company offers cookies, crackers, fresh bakery and frozen products under the brands Milano, Goldfish, Lance, and Kettle.
• Meals and Beverages - Through this segment, the company offers condensed and ready-to-serve soups, non-dairy beverages, and other simple meals under the brands Campbells, Swanson, and Pacific Foods. 

to make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The ready-to-eat food market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Ready to Eat Food Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the ready-to-eat food market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Ready to Eat Food Market?

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36% of the market's growth will originate from North America during the forecast period. The US is the key market for ready-to-eat food in North America. Market growth in this region will be slower than the growth of the market in the South American, APAC and MEA regions.

The increasing number of consumers, especially millennial consumers will facilitate the ready-to-eat food market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic negatively affected the sales of consumer-packaged goods, including ready-to-eat food products, in 2020. This was owing to the reduced working hours of retailers and disruptions in the supply chain for ready-to-eat food products, especially in the first half of 2020. However, factors such as a significant rise in business operations in ready to eat food manufacturing companies, redesigned supply chains for ready to eat food products, the resumption of offline distribution channels since the Q3 2020 due to the availability of vaccines, and reducing COVID cases are expected to drive the growth of the regional market during the forecast period.

What are the Revenue-generating Product Segments in the Ready to Eat Food Market?

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The ready-to-eat food market share growth by the frozen segment will be significant during the forecast period. The increasing consumption of frozen foods is among the factors driving the frozen food segment across the globe. With the hectic lifestyle, due to longer working hours, consumers are on the lookout for convenience food products that can be consumed with minimum preparation. Thus, the increasing demand for frozen foods has encouraged some vendors in the market to expand their distribution capability in developing countries such as India, China, Brazil, Indonesia, and Mexico. Such increasing consumption of frozen food will drive the ready-to-eat food market growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the ready-to-eat food market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Ready to Eat Food Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive ready-to-eat food market growth during the next five years
• Precise estimation of the ready-to-eat food market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the ready to eat food industry across APAC, North America, South America, MEA, and Europe
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of ready-to-eat food market vendors

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