Ready To Eat Food Market, by Product Type (Meat/Poultry, Cereal Based, Vegetable Based, Others), by Packaging (Canned, Frozen/Chilled, Retort, Others), by Distribution Channel (Hypermarket/Supermarket, Convenience Stores/Departmental Stores, Specialty Stores, Online Stores), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa (MEA)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
The global ready to eat food market is accounted for US$ 138407.62 Mn in terms of value by the end of 2021. Ready to eat food are ready meal that is convenient to consume as they help in saving time and efforts. Such foods have longer shelf-life and can be classified into canned, frozen, and retort.
Market Dynamics
Consumer interest in ready to eat (RTE) snack and ready to eat food is growing due to their convenience, value, attractive appearance, taste and texture. Moreover, rising per capita income of consumers globally also supports the market growth. Increased employment opportunities have augmented migration of people from tier 1 and tier 2 cities to metropolitans that is further expected to drive the overall RTE food market over the forecast period.
North America is expected dominate the ready to eat food market over the forecast period owing to increased demand for convenience and packed food products. For instance, reports by Credit Suisse, a leading financial services company suggests that Grocery chains and key food products manufacturers such as Tyson Foods, Inc., J.M. Smucker Co., Hormel Foods Corp., and Kraft Heinz Co. have witnessed 50% increase in the sales of food and beverage in the month of March, 2020.
Key features of the study:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook