Ready-to-Cook Food Market by Type (Conventional, Traditional), Meal Type (Non-Vegetarian, Vegetarian), Product Type, Distribution Channel - Global Forecast 2024-2030

Ready-to-Cook Food Market by Type (Conventional, Traditional), Meal Type (Non-Vegetarian, Vegetarian), Product Type, Distribution Channel - Global Forecast 2024-2030

The Ready-to-Cook Food Market size was estimated at USD 11.00 billion in 2023 and expected to reach USD 11.87 billion in 2024, at a CAGR 8.24% to reach USD 19.15 billion by 2030.

Ready-to-cook (RTC) food refers to a wide range of pre-prepared and partially cooked ingredients that significantly reduce the time and effort required for consumers to prepare a complete meal. The increasing consumer preference for convenience-oriented products and the growing presence of RTC on eCommerce platforms have provided easier access to a broader variety of RTC food options at competitive prices that significantly increase the adoption of ready-to-cook food. However, concerns about the freshness and quality of ingredients and potential contamination during transport or storage may hinder the RTC food adoption. Nevertheless, innovation and development of RTC food products with advancements in packaging create potential opportunities for the growth of the ready-to-cook (RTC) food market.

Regional Insights

The ready-to-cook food market is evolving in the Americas due to changing consumer preferences, busy lifestyles, and the adoption of convenient meal solutions. The ready-to-cook food market in the European Union (EU) countries is thriving due to an emphasis on convenience and increasing availability of tailored options for vegetarian, low-calorie, and gluten-free meals. In the Middle East, there has been a rise in investments towards expanding local ready-to-cook food businesses and the proliferation of the hospitality sector, raising demand for ready-to-cook food in the region. Africa's ready-to-cook food landscape is developing rapidly, driven by urbanization and increased demand for convenience foods among working professionals and availability on several online platforms offering weekly meal kit deliveries containing fresh ingredients accompanied by easy-to-follow recipes. The ready-to-eat foods market is growing in the APAC region with the presence of well-established companies offering convenient meal solutions and a shift of consumers towards innovative offerings featuring local ingredients and authentic recipes. Besides, the technological advancements and improvements in packaging materials to enhance shelf life and support sustainability goals are anticipated to encourage the use of ready-to-cook food by consumers worldwide.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Ready-to-Cook Food Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Rapid urbanization and demand for convenience and RTC food products
Rising number of restaurants and cafes globally
Significant penetration of RTC food on online platforms

Market Restraints

Volatility of raw material cost and availability of fresh food

Market Opportunities

Innovations and developments in ready-to-cook food products
Advancements in packaging of ready-to-cook food

Market Challenges

Concerns associated with additives used in RTC food

Market Segmentation Analysis

Type: High usage of conventional ready-to-cook food owing to its time-saving benefits
Meal Type: Increasing adoption of the vegetarian sector owing to its low-fat content and higher fiber intake
Product Type: Burgeoning utilization of instant noodles and soups due to their affordability and longer shelf life
Distribution Channel: Evolving online distribution channels for Ready-to-cook (RTC) food

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Ready-to-Cook Food Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Ready-to-Cook Food Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Campbell’s Foodservice Launches Culinary Reserve Soups

Campbell's Foodservice introduced the Campbell's Culinary Reserve line, which consists of over 60 frozen soups that are ready-to-cook or ready-to-eat. These soups are available in 4-pound pouches and 4-pound tubs, offering a wide range of flavors. The selection includes both classic options and trendy choices like Baja Style Chicken Enchilada.

Marico aims to strengthen foothold in healthy foods and easy-to-cook segments in India

Marico is strengthening its presence in the ready-to-cook and healthier food segments in India by offering innovative products that cater to consumer needs. The increasing preference for nutrient-rich and convenient food options, particularly in the breakfast segment, has led to the expansion of the Saffola Foods portfolio.

Adani Wilmar launches Kohinoor Biryani Kit in their Ready-to-Cook Food Range

Adani Wilmar Limited introduced the Kohinoor Hyderabadi Biryani Kit as part of their ready-to-cook range. This innovative product allows customers to effortlessly prepare restaurant-style biryani in just 30 minutes from the comfort of their own homes. The kit includes high-quality basmati rice weighing 200g, a tantalizing biryani masala paste weighing 125g, a delightful blend of whole aromatic spices weighing 2g, and a flavorful raita seasoning weighing 12g. Currently, the kit is available for purchase on various platforms, including Amazon, Fortune Online, Adani Wilmar's D2C app, and their retail store Fortune Mart.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Ready-to-Cook Food Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Ready-to-Cook Food Market, highlighting leading vendors and their innovative profiles. These include Bakkavor Foods Ltd., Bambino Agro Industries Ltd., CG Corp., DARSHAN FOODS PVT. LTD., Desai Foods Pvt Ltd., Gits Food Products Pvt. Ltd., Godrej Agrovet Ltd., Hindustan Unilever Ltd., iD Fresh Food (India) Pvt. Ltd., IndianFarm Foods Pvt. Ltd., ITC Ltd., Kohinoor Foods Ltd., Maiyas Beverages and Foods Pvt. Ltd., McCain Foods Ltd., MTR Foods Pvt. Ltd., NatureRaised Farms, Nestle S.A., Nomad Foods Limited, Pink Harvest Farms, Raised & Rooted, Regal Kitchen Foods Ltd., Tasty Tales, Tat Hui Foods Pte. Ltd., TataQ, TOPCHOP, and Tyson Foods, Inc..

Market Segmentation & Coverage

This research report categorizes the Ready-to-Cook Food Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
Conventional
Traditional
Meal Type
Non-Vegetarian
Vegetarian
Product Type
Baked Goods
Desserts & Sweets
Instant Noodles & Soups
Meat & Poultry
Distribution Channel
Offline
Convenience Stores
Supermarkets & Hypermarkets
Online
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year