This market research report presents the market size and forecast of the global ready meals market by product (frozen ready meals, chilled ready meals, canned ready meals, and dried ready meals), by distribution channel (hypermarkets and supermarkets, independent retailers, convenience stores, service stations, and other retailers), and by geography (the Americas, APAC, Europe, and ROW). The key vendors analyzed in this report are 2 Sisters Food Group, ConAgra, Fleury Michon, Kraft Heinz, Nestlé, and Unilever.
Technavio’s market research analysts estimate the global ready meals market, to grow at a CAGR of around 4% between 2016 and 2020. Ready meals have come out as an alternative meal that is quick and cost-effective, which just requires heating before consumption. Increase in demand for convenience and on-the-go food has boosted the demand for ready meals, which take very less preparation time. Europe occupies 40% of the ready meals market globally, thanks to the introduction of several healthy food such as frozen vegetables, salads, and gluten-free diet in the region.
The new market research report from Technavio provides a breakdown and analysis of the ready meals segments by technology.
“Packaging plays a major role in ready meals sales in terms of retaining the vitamin content, color, product quality, texture, taste, and shelf life. This has pushed vendors to collaborate with packaging manufacturers in developing 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,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research
Frozen meals dominate the ready meals market, 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.
The key vendors in the global ready meals market include 2 Sisters Food Group, ConAgra, Fleury Michon, Kraft Heinz, Nestlé, and Unilever. This 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.
A more detailed analysis is available in the Technavio report, Global Ready Meals Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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