Global Home Meal Replacement Industry Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Home Meal Replacement Industry Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Home Meal Replacement mainly refers to a type of food that appears for the convenience of people who cannot cook,including ready-to-eat meals, cooked/prepared food and/or delicatessen take-out meals.

Market Overview:

The latest research study on the global Home Meal Replacement Industry market finds that the global Home Meal Replacement Industry market reached a value of USD 170501.87 million in 2022. It’s expected that the market will achieve USD 241723.28 million by 2028, exhibiting a CAGR of 5.99% during the forecast period.

Influence of COVID-19 Outbreak on Home Meal Replacement Industry Development

The impact of COVID-19 on Home Meal Replacement industry will involve all major links and all entities in the industry chain. The company's management efficiency has been reduced, commuting has been severely frustrated, production scheduling has been severely hindered, network expansion has been delayed, marketing has been delayed, brand adjustments have been forced, market sales have declined, and corporate and employee revenues have been damaged. The impact on Home Meal Replacement industry depends on the prevention and control effects of COVID-19.
The outbreak of COVID-19 led to a decline in offline passenger flow, and the advantages of community supermarkets have become prominent. Hypermarkets and supermarkets, the main positions of offline retail, encountered great challenges during the outbreak of COVID-19. The passenger flow dropped sharply, and the sales volume was also affected. At the same time, the sales of community supermarkets will increase during this period.

Drivers

South Korea is currently the fastest growing country in Asia, with an average annual growth rate of more than 15%. Affected by domestic eating habits, Japanese home meal replacement have always had a relatively objective market. At the same time, as the per capita income levels of China and India continue to increase, China and India will have broad market prospects and maintain a relatively high growth rate. It is expected that in the next few years, the Asian region will become the fastest growing region for home meal replacement.

Limitations

home meal replacement's main raw materials are all kind of meat, vegetables. In the global market, the supply of raw materials is sufficient. However, the continuous fluctuation of raw material prices will affect the production cost of the home meal replacement industry, which will be the main factor restricting the development of the industry. The increase in production costs directly reduces the profitable space of the producer. For the producer, the profit is reduced, and the technology investment and capital investment for expanding production are reduced, which is not conducive to market competition. At the same time, if producers cannot disperse the impact of raw material price fluctuations into the upstream and downstream markets, it will affect their own production and operation.

Region Overview:

China had the highest growth rate of all regions.

Company Overview

Nestle is one of the major players operating in the Home Meal Replacement Industry market, holding a share of 10.01% in 2020.

CJ CheilJedang Corporation manufactures processed food products. The Company's products include refined sugar, monosodium glutamate (MSG), condiment, wheat powder, flour, cooking oil, processed meats, and animal feed. CJ CheilJedang also manufactures pharmaceutical and household products.

Dongwon F&B Co., Ltd. manufactures various processed food products. The Company' s products include agricultural and marine products, beverages, dairy products, processed meat, fast food, frozen food, and ginseng. The company's main product in early stage was canned tuna and expanded their business into a variety of food production.

Segmentation Overview:

Among different product types, RTH segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Single segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Home Meal Replacement Industry market covered in Chapter 3:

Dongwon F&B Co., Ltd.
Kellogg's
Unilever
ConAgra
Wooyang Frozen Foods
Nongshim
Tyson Foods
Nestle
Shinsegae Food
Daesang
CJ Cheiljedang Corp.
Ottogi
Pulmuone Co.,Ltd

In Chapter 4 and Chapter 14.2, on the basis of types, the Home Meal Replacement Industry market from 2018 to 2029 is primarily split into:

RTH
RTE

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Home Meal Replacement Industry market from 2018 to 2029 covers:

Single
Double-income
Old

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)