Global Ready Meals Market - Market Size & Forecasting To 2033

Global Ready Meals Market - Market Size & Forecasting To 2033

The ready meals market was valued at USD 144.8 billion in 2022, which is anticiapted to reach at USD 239.08 billion by 2032 at a CAGR of 5.15% between 2023 and 2032. This growth is attributed due to changing food preferences of consumers towards ready-to - eat food items due to busy lifestyle of working people as well as college graduates and students. Such meals provide a healthy alternative to fast food as well as a cheaper alternative to dining. Also these ready meals are precooked and pre packaged meals that can be consumed with minimum preparation. Another factor driving market of ready meals is rising per capita income. Customers across the globe are more inclined towards food products which can be eaten quickly without any effort. People around the globe are buying ready-made food items and meals due to hectic work schedules, which are easy to prepare and less time consuming.

These preferences for ready-made meals anticipated to drive the market growth during the forecast period.However, growing safety issues related to ready-made meals may affect market development. In addition, heightened cases of obesity and other lifestyle diseases are expected to hamper market growth. Manufacturers are thus focused on providing safer and healthy foods to sustain in market as well as they are primarily focused on consumer’s health.ready meals market report is segmented by type and by distribution channel. By type this market is further segmented as canned/preserved ready meals, chilled pizza, chilled ready meals, dried ready meals, frozen ready meals (frozen pizza, others), and prepared salads. Based on distribution channel this market is further segmented as store-based retailing (supermarkets/hypermarkets discounters, convenience stores, and others) and online retailing). Based on type, the frozen ready meals segment holds the largest market share of ready meals market during the forecast period. The frozen pizza is considered one of segments under frozen ready meals and it is growing exclusively, as it is considered the most popular junk food. Additionally, changes in the nutritional value of frozen pizza are fueling the market growth with fascinating ingredient profiles.

Based on distribution channel, store-based retailing segment is projected to remain major market of ready meals market in terms of revenue during the forecast period. The growth of this segment is attributed due to some of the largest supermarket or hypermarket chains which are expanding their stores all over Australia. To attract consumers these business leaders are increasing their product offerings. Online retailing segment is estimated as fastest growing segment during the forecast period. As growing e-commerce industry propel the online shopping preference as well as wide penetration of smartphones and internet among the consumers, anticipated to the growth of online retailing in ready meals market in the future.

The competitive scenario highlights the performance of major companies operating in this market. This includes detailed profiling of major companies and their competitive benchmarking. Product profiling provides key information including products/solutions offered, key developments, company performances, and strategies adopted in the recent years. Major companies profiled in the market includes Dr. Oetker Gmbh, Nestlé S.A., The Campbell Soup Company, McCain Foods, Simplot Australia, Patties Foods, General Mills Inc., Kraft Heinz Company, five point four, My Muscle Chef, G.D. Mitchell Enterprises Pty Ltd.,Heat to Eat Holdings Pty Ltd.,Lite N' Easy, The Kuisine Company and Saizeriya Australia Melton and others. These companies have adopted product development, expansion, and merger strategies to consolidate market position amongst intense competition.