Global Ready Meals Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

Recent Developments:

• September 2023: Nucleus Gene Technology enters China's pre-cooked food sector, registering agriculture businesses and food trademarks. The Shenzhen-based company establishes Wuhan Nucleus Gene Agricultural Science and Technology, focusing on rice-based rapid meals and snacks, alongside agricultural production and research. Plans include constructing facilities for molecular biological breeding and rice processing in a 3,392 square meter area, seeking funding for product development in Jiangxi and Hubei provinces.
• July 2023: New York's DIG introduces meal boxes featuring unique entrées and sides, claiming affordability compared to dining out. These boxes offer a cheaper alternative, though not substantially so, compared to mid-range restaurant prices.

This report extensively covers different segments of Global Ready Meals Market and provides an in depth analysis (including revenue analysis for both historic and forecast periods) for all the market segments. In this report, the analysis for every market segment is substantiated with relevant data points and, insights that are generated from analysis of these data points (data trends and patterns).

Product segmentation categorizes ready meals based on their form and packaging, encompassing frozen meals, refrigerated meals, canned meals, and shelf-stable meals. Each category offers unique advantages in terms of convenience, shelf life, and taste, catering to different consumer needs and lifestyles.

Meal type segmentation further divides the market based on the nature of the meal, such as breakfast, lunch, dinner, or snacks. This segmentation reflects the growing demand for ready-to-eat options across different times of the day, driven by changing eating habits and hectic schedules.

Distribution channel segmentation identifies the various channels through which ready meals are made available to consumers, including supermarkets/hypermarkets, convenience stores, online retail, and food service outlets. The choice of distribution channel often influences consumer accessibility and purchasing decisions, with online retail gaining prominence due to its convenience and wider product assortment.

Geographical segmentation considers regional variations in consumer preferences, dietary habits, and cultural influences, shaping the demand for ready meals. Different regions may exhibit varying levels of market maturity and growth potential, driven by factors such as population demographics, economic development, and urbanization rates.

Global Ready Meals Segment Analysis

In this report, the Global Ready Meals Market has been segmented by Product, Meal Type. Distribution Channel and Geography.

Global Ready Meals Market, Segmentation by Meal Type

The Global Ready Meals Market has been segmented by Meal Type into Vegetarian, Non-Vegetarian and Vegan.

Vegetarian Ready Meals have gained traction among individuals seeking plant-based alternatives for health, environmental, or ethical reasons. These meals exclude meat, fish, and poultry, offering a wide array of vegetable-based dishes, grains, legumes, and meat substitutes. Vegetarian options appeal to a growing segment of health-conscious consumers and those embracing flexitarian diets.

Conversely, Non-Vegetarian Ready Meals encompass a diverse range of options containing meat, poultry, or seafood as primary ingredients. These meals cater to consumers who prefer traditional protein sources in their diet or seek a more indulgent dining experience. Non-vegetarian ready meals often feature a variety of cuisines and flavors, catering to diverse taste preferences and cultural influences.

The Vegan Ready Meals segment has witnessed significant growth, reflecting a rising demand for plant-based alternatives that exclude all animal products, including meat, dairy, and eggs. Vegan options offer ethical and environmental benefits while providing consumers with flavorful and nutritious meal choices. This segment appeals to vegans, vegetarians, and flexitarians alike, seeking cruelty-free and sustainable dining options.

Global Ready Meals Market, Segmentation by Distribution Channel

The Global Ready Meals Market has been segmented by Distribution Channel into Supermarkets/ Hypermarkets, Convenience Stores, Online Stores and Specialty Stores.

Supermarkets and Hypermarkets stand as key distribution channels, offering a wide assortment of ready meals to cater to the varying tastes and dietary needs of consumers. These large-scale retail outlets provide convenience and accessibility, often stocking ready meals alongside other grocery items, allowing consumers to fulfill their meal requirements conveniently during their regular shopping trips.

Convenience Stores represent another significant distribution channel for ready meals, particularly for consumers seeking quick and easy meal solutions on-the-go. These stores offer a curated selection of ready-to-eat options, catering to busy individuals and commuters looking for convenient meal options during their daily routines. Convenience stores capitalize on the impulse purchase behavior and provide convenient access to ready meals in high-traffic locations.

The advent of E-commerce has revolutionized the distribution of ready meals, with Online Stores emerging as a rapidly growing channel. Online platforms offer consumers the convenience of browsing and purchasing ready meals from the comfort of their homes, providing a wide range of options and the flexibility of doorstep delivery. This channel appeals to tech-savvy consumers, busy professionals, and those seeking a hassle-free shopping experience.

Specialty Stores round out the distribution channel segmentation, catering to niche markets and specific consumer preferences. These stores focus on offering premium, artisanal, or health-conscious ready meals tailored to discerning consumers seeking unique flavors, dietary requirements, or gourmet options. Specialty stores provide curated selections and personalized service, attracting consumers seeking distinctive meal experiences.

Global Ready Meals Market, Segmentation by Geography

In this report, the Global Ready Meals Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Global Ready Meals Market Share (%), by Geographical Region, 2023

North America emerged as a prominent market leader, boasting a significant share due to the widespread adoption of convenience-oriented lifestyles and the presence of well-established retail infrastructure. The region's busy urban population, coupled with an inclination towards time-saving meal solutions, contributed to the dominance of ready meals in North America.

Europe followed closely behind, holding a substantial market share driven by the popularity of ready meals in Western European countries. Factors such as changing dietary habits, an aging population, and the proliferation of single-person households propelled the demand for convenient food options across the region. Moreover, the presence of innovative product offerings and a robust cold chain network further fueled market growth in Europe.

Asia Pacific exhibited considerable growth potential, fueled by rapid urbanization, rising disposable incomes, and changing consumer preferences. Countries like China, Japan, and India witnessed increasing adoption of ready meals, driven by busy lifestyles and a growing appetite for Western-style convenience foods. Additionally, the expansion of retail channels and the availability of diverse ready meal options contributed to market expansion in the Asia Pacific region.

This report provides an in depth analysis of various factors that impact the dynamics of Global Ready Meals Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers, Restraints and Opportunity Analysis

Key players in Global Ready Meals Market include:

• Nestlé SA
• Conagra Brands, Inc.
• Nomad Foods Ltd.
• Unilever PLC
• The Kraft Heinz Company
• Bakkavor Group plc
• Tyson Foods, Inc.
• General Mills, Inc.
• McCain Foods Limited
• Hormel Foods Corporation

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies