According to Technavio’s latest market research study, the global ready meals market is expected to grow at a CAGR of around 5% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global ready meals market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the product type
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The top three revenue contributing product segments are discussed below
Global frozen ready meals market: Frozen ready meals comprise a large portfolio of products, including frozen pizza, chicken meals, beef meals, and various types of frozen vegetarian meals. They are convenient alternatives to cooking and are increasingly being preferred by the working population worldwide. The growth of the global frozen ready meals market is attributable to the rise in the adult population, aged 25 to 49 years, who have an increased preference for convenience-enhancing products to achieve a better work-life balance. Frozen pizza is among the most popular ready meals in this market.
“Frozen meals are usually free from microbes and hence considered healthier than other RTE meals. Manufacturers are also introducing various innovative frozen chicken meals with unique herbs and fresh ground spices, skewered and cooked efficiently to provide delicious and nutritious dishes,” says Manjunath Reddy, a lead analyst at Technavio for research on food.
Global chilled ready meals market: Chilled RTE foods refer to meat, poultry, fish, and vegetable-based meals, sold in a chilled cabinet or container. The growing preference for prepared food products is driving the market for chilled ready meals. Over the last few years, there has been a rise in demand among consumers for different kinds of RTE meals, besides meat products, such as salads and pasta. For instance, the market for chilled pasta has expanded in Italy, Germany, France, and the UK, over the last five years.
Global canned ready meals market: Canned ready meals include prepared meat, poultry, fish, and vegetable-based meals, that are packaged and sold in airtight cans or glass jars. They usually require heating, and are also known as preserved meals. The growing preference for portion meals among consumers is driving the growth of this segment. Portion meals are generally preferred as canned products.
The top vendors operating in the global ready meals market are:
- 2 Sisters Food Group
- Conagra Brands
- The Kraft Heinz Company
- Nestlé
- Unilever
Other prominent vendors in the market include Advanced Fresh Concepts, Fleury Michon, General Mills, Greencore Group, Hormel Foods, Iglo Group, ITC, JBS, Sigma Alimentos, Smithfield Foods, Findus, The Schwan Food, and Tyson Foods.
A more detailed analysis is available in the Technavio report titled, ‘Global Ready Meals Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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- Global Probiotics Market 2017-2021
- Global Frozen Food Market 2017-2021
- Global Tabletop and Sachet Sweeteners Market 2017-2021
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