Ready-to-Eat Meals Market: Comprehensive Overview and Future Outlook
Research Reports
May 23, 2024
Ready-to-Eat Meals Market Overview:
The global ready-to-eat (RTE) meals market has seen substantial growth in recent years, driven by changing consumer lifestyles, increasing urbanization, and a growing demand for convenient food options. Ready-to-eat meals, which require minimal preparation and are typically consumed without further cooking, offer busy consumers a quick and easy solution for their meal needs. These meals come in various forms, including frozen, chilled, and shelf-stable options, catering to diverse preferences and dietary requirements.
The Ready-to-Eat Meals Market was valued at USD 81.7 billion in 2021. It is projected to grow from USD 90.6 billion in 2024 to USD 188.0 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 10.98% during the forecast period (2024 – 2030).
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Market Segmentations:
The ready-to-eat meals market is segmented by type and distribution channel, each contributing uniquely to the market’s expansion and consumer reach.
By Type
Rice & Noodles: This segment includes a variety of pre-cooked rice and noodle dishes, often featuring flavors and recipes from different cuisines. Popular options include fried rice, biryani, pasta, ramen, and lo mein. The demand for these meals is driven by their versatility, ease of preparation, and global appeal.
Salads: RTE salads are increasingly popular among health-conscious consumers looking for nutritious and fresh meal options. These salads often come with pre-packaged dressings and toppings, making them a convenient choice for quick, healthy eating.
Gravies & Curries: This segment includes a wide range of pre-cooked gravies and curries that cater to the taste preferences of various regions. These meals are often packed with rich flavors and spices, appealing to those looking for a hearty and satisfying meal without the hassle of cooking from scratch.
Pasta & Pizzas: Ready-to-eat pasta and pizza meals are favorites among consumers seeking comfort food that is quick to prepare. These products include frozen pizzas, pre-cooked pasta dishes, and microwaveable pasta meals, offering a variety of flavors and styles.
Soups: RTE soups are a convenient option for a quick, warming meal. This segment includes a wide range of flavors, from classic chicken noodle soup to more exotic and gourmet options, catering to diverse consumer preferences.
Others: This category encompasses other ready-to-eat meal options such as sandwiches, wraps, and snack kits. These products cater to niche markets and specific dietary needs, including vegetarian, vegan, and gluten-free options.
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By Distribution Channel
Store-Based:
Supermarkets & Hypermarkets: These are the primary retail channels for RTE meals, offering a wide variety of options under one roof. Supermarkets and hypermarkets attract consumers with their extensive product ranges and frequent promotions.
Convenience Stores: Convenience stores cater to the need for quick and easy meal solutions, especially in urban areas. Their smaller size and strategic locations make them a popular choice for on-the-go consumers.
Others: This category includes specialty food stores, delis, and grocery stores that offer a curated selection of RTE meals, often focusing on gourmet, organic, or specialty diet options.
Non-Store-Based:
Online Retail: The rise of e-commerce has significantly impacted the RTE meals market, offering consumers the convenience of home delivery and a wider selection of products. Online retail platforms also cater to niche markets and provide detailed product information, making it easier for consumers to find specific meal options.
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Regional Analysis:
The global RTE meals market is segmented into several key regions, each contributing uniquely to market dynamics and growth patterns.
North America: North America, particularly the United States, is a major market for RTE meals. The region’s market is driven by high consumer demand for convenient meal solutions, a busy lifestyle, and a well-established retail infrastructure. Innovation in product offerings, such as organic and plant-based RTE meals, also contributes to market growth.
Europe: Europe has a strong tradition of convenience foods, and the RTE meals market is well-established here. The market is characterized by a high demand for premium and gourmet RTE meals, as well as growing interest in healthy and organic options. The UK, Germany, and France are key markets within the region.
Asia-Pacific: The Asia-Pacific region is experiencing rapid growth in the RTE meals market due to increasing urbanization, rising disposable incomes, and changing dietary habits. Countries like China, Japan, and India are significant contributors to market growth, driven by the popularity of local and international cuisines in RTE formats.
Rest of the World: This includes regions such as Latin America, the Middle East, and Africa. These markets are growing steadily, supported by rising urbanization, increasing disposable incomes, and improving retail infrastructure. The demand for RTE meals in these regions is also driven by the expanding middle class and changing lifestyles.
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