Prepared Meals Market Size, Competitive Landscape, Country Analysis, Distribution Channel, Packaging Formats and Forecast, 2016-2026
Summary
The global prepared meals sector was valued at $107.2 billion in 2021 and is forecast to generate a CAGR of 6.0% during 2021-26 to reach $143.8 billion by 2026. The Asia-Pacific represented the largest region for the global prepared meals sector in 2021, with a value share of 33.5%, followed by Western Europe and the Americas, which accounted for shares of 31% and 27.8%, respectively. The Middle East & Africa is forecast to record the highest CAGR during 2021-26, at 33.4%. In 2021, the ready meals category held the highest value and volume shares of 73.8% and 76.7%, respectively. Meal kits is set to be the fastest-growing category during 2021-26, at a projected value CAGR of 14.5%. In the global prepared meals market, the top five companies accounted for a combined value share of 23% in 2021. Nestlé was the leading company, with a value share of 8.9%, followed by Nissin Food Products Co., Ltd. (5.1%), Conagra Brands, Inc. (3.7%), Dr. August Oetker Kg (2.8%), and The Kraft Heinz Company (2.4%).
Online ordering and food delivery has gained traction since the start of the COVID-19 crisis, during which many restaurants and other food outlets were forced to remain closed for months on end. This shift in consumption habits has boosted the popularity of ready-to-cook/-eat meals. These are particularly popular among single households and elderly consumers. Urbanization encourages the development of cold chains, which enable the swift supply of chilled/frozen packaged meals. This, in turn, drives demand for prepared meals.
This report brings together multiple data sources to provide a comprehensive overview of the global prepared meals sector. It includes analysis on the following -
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook