Rockville, Dec. 15, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global Ready Meal Trays Market is projected to rise at a CAGR of 6.9% and is likely to arrive at a value of 2.35 Bn by the end of 2033.
Ready meal trays are pre-packaged containers designed for the convenience of consumers seeking quick and easy meal solutions. These trays save time by eliminating the need for extensive meal preparation, making them ideal for individuals with busy schedules. They often come with pre-portioned servings, promoting portion control and reducing food waste.
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Key Segments of Ready Meal Trays Industry Research Report
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Ready meal trays are versatile, accommodating a variety of cuisines and dietary preferences. Designed to be microwave-safe and oven-ready, they offer a hassle-free way to heat meals.
The market is experiencing growth due to the rising demand for convenient and time-saving food options, fueled by busy lifestyles and urbanization. Moreover, the market is driven by an increasing preference for sustainable and eco-friendly packaging solutions, alongside advancements in packaging technologies.
Ensuring the extended shelf life of ready meals poses a significant industry challenge, demanding robust ingredient selection, effective preservation methods, advanced packaging, and proper storage. Consumer perceptions of ready meals as less healthy may impact market growth, necessitating efforts to improve the nutritional profile and address health concerns.
Key Takeaways:
- Rapid and busy lifestyles in the US have resulted in higher consumption of packaged and convenience foods. This is expected to be a key factor driving the shipment of ready-meal trays in the upcoming years.
- Globalization has an impact on the traditional diets of Japanese and Korean individuals, leading to an increased demand for a diverse variety of packaged foods. Furthermore, Japan's substantial aging population is expected to play a significant role in driving the demand for ready-to-eat meals.
- A strong rise in demand for recyclable materials like polyethylene, terephthalate, and polypropylene is expected in the next decade. This growth is driven by government bans on single-use plastics and strict mandates on food packaging.
The escalating demand for convenient meal options in busy lifestyles, an increased emphasis on sustainable packaging solutions, and ongoing advancements in packaging technologies improving shelf life and overall convenience are driving the market growth - Says Fact.MR Expert
Market Competition
Providers of prime-ready meal trays are introducing new products to strengthen their market position and capitalize on sales opportunities. Key industry participants comprise Novolex, Quinn Packaging, Mondi Group PLC, International Paper Co., and Billerud Korsnas.
- In June 2022, Finland-based consumer packaging company Huhtamäki Oyj unveiled Huhtamäki Fresh, a series of fiber-based ready-meal trays targeted at the lucrative Nordic Market within the European Region.
- In June 2021, Stora Enso, a well-known Finnish manufacturer of pulp and paper products, introduced Trayforma, a novel wood fiber-based material tailored for the packaging of microwavable food trays.
Winning strategies
Leading players should focus on offering high-quality, gourmet ready-meal options targeting a more upscale market. By using premium ingredients and creating unique flavors, companies can stand out and attract consumers looking for sophisticated dining experiences.
To succeed in the ready meal trays market, top players must focus on specific ethnic cuisines or regional specialties. Companies should tailor their products to appeal to diverse consumer tastes and cultural preferences. This means offering authentic meals that capture the essence of different cultures.
Market leaders can increase sales by introducing seasonal or limited-edition ready meals. This strategy creates excitement and urgency among consumers. By aligning offerings with seasons or events, companies can make their meals exclusive and more appealing.
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| Report Attribute | Details |
| Value Projection (2033) | USD 2.35 Billion |
| Growth Rate (2023-2033) | 6.9 % CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 160 Tables |
| No. of Figures | 134 Figures |
The European region has enforced stringent regulations on packaging and food safety, driven by a growing emphasis on addressing climate change and the surge in plastic waste. This regulatory environment, coupled with government incentives and initiatives promoting sustainable food packaging, as well as the concerted efforts of food manufacturers to minimize food waste, is expected to drive increased demand for ready meal trays. Key European countries like Germany, France, the United Kingdom, and Spain are poised to benefit from these trends.
In addition to regulatory factors, changing consumer preferences, the adoption of busy lifestyles, the proliferation of food service restaurants, and advancements in food packaging are all anticipated to play pivotal roles in shaping the demand for ready meal trays across various European nations in the years ahead.
Checkout More Related Studies Published by Fact.MR Research:
Plastic Trays Market: The global plastic trays market is estimated at USD 7,500 Mn in 2022 and is forecast to surpass USD 11,400 Mn by 2032, growing at a CAGR of 4.3% from 2022 to 2032.
Paper Trays Market: The global paper trays market is estimated at USD 5,300 Million in 2022 and is forecast to surpass USD 8,900 Million by 2032, growing at a CAGR of 5.4% during 2022-2032.
Produce Packaging Trays Market: The global produce packaging trays market is valued at US$ 3 billion and is projected to reach a market size of US$ 4.7 billion by 2033.
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