Frozen Ready Meal Market to reach USD 89.7 Bn by the year 2032 - Comprehensive Research Report by FMI

Increased convenience offered by frozen ready meal and rising availability to Propel Market Growth

Valley Cottage, New York, UNITED STATES

DUBAI, United Arab Emirates, Feb. 15, 2022 (GLOBE NEWSWIRE) -- The global frozen ready meal market is set to witness growth at a CAGR of 8.2% and top a valuation of USD 89.7 Bn by 2032.

The global frozen ready meals market size is estimated to be USD 40.8 Bn in the year 2022 that is expected to grow at a CAGR of 8.2% to reach USD 89.7 Bn by the year 2032.

Attribute Details
Market Size Value in 2021USD 38.1 Bn
Market Forecast Value in 2032USD 89.7 Bn
Global Growth Rate8.2% 
Forecast Period2022-2032

In recent years, ready-to-eat food has emerged as one of the most diverse divisions of the worldwide ready-meal market. A rise in convenience patterns, as well as a simultaneous increase in need for customised meal options, has resulted in strong desire for frozen packed meals. The frozen food and beverage industry is perceived as a yet another shop for consumers on the go, with everything from frozen desserts to appetisers and meals available.

Because of its microbiological and fungal-free qualities, frozen ready meals are in high demand in developed countries. Frozen packaged food manufacturers are now incorporating nutrient advantages alongside taste to appeal to a broader clientele seeking health and flavour.

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Advances in technology to conserve frozen and partly prepared food, as well as substantial changes in the retail business, all promise positively for market players in the near future. The frozen ready meal industry would be worth more than USD 89.7 billion by 2032.

Frozen convenience meals sold by food supply chain companies remain a major source of income. Convenience stores are expected to extend their frozen ready meal range in the near future, while online sales will tap into previously undiscovered market opportunities.

In industrialized nations, where demand is higher than in other countries, frozen ready meals are now becoming incredibly common. The spike in the number of individuals working in rising economies such as China and India, and the trend toward longer and more unpredictable working hours, has led in a gradual shift away from the traditional model of daily cooking. Frozen ready meals are likely to grow in popularity in such countries as a result.

Convenience meals are growing in popularity in the packaged food industry due to its easy and portability. Organic convenience foods are also becoming more famous as they are certified natural things that may be used to substitute a full meal and are better than normal ready meals due to component differences.

Key Takeaways from Market Study

  • The frozen ready meal market is expected to expand at CAGRs of 5.4% and 6.2% in US and the Middle East & Africa, respectively, through 2032.
  • The European frozen ready meal market is currently pegged at 25.2% share of total market.
  • The frozen ready meal industry in Asia - pacific region, except Japan, is predicted to increase at a healthy 4.7 percent.
  • Customer demand for healthy, nutrient-dense foods is boosting sales of frozen ready meals in various regions throughout the world.
  • Frozen chicken and frozen snacks contributed for more than 60% of the worldwide frozen ready meal markets in 2022, according to product type segmentation.
  • Covid-19 pandemic outbreak benefited the frozen ready meal business due to its ease.  Because many singles were limited to their homes and apartments, they had to depend on fast and ready-to-eat meals to sustain life. Due to the covid shutdown and social distancing practises, diners as well as other businesses were shuttered, increasing market demand for frozen ready meals.

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“Targeting the food and beverage business would result in large earnings for frozen ready meal producers. Because of the increased consumption of healthy diet goods around the world, the health alternatives business could be a prospective market for frozen ready meals.” says a Future Market Insights analyst.

Scope of Report

Market Size Value in 2021USD 38.1 Bn
Market Forecast Value in 2032USD 89.7 Bn
Global Growth Rate8.2% 
Forecast Period2022-2032
Historical Data Available for2017-2021
Market AnalysisMT for Volume and USD Mn for Value
Key Regions CoveredProduct Type, End-user, Region
Key Countries CoveredUnited States, Canada, Brazil, Mexico, Argentina, EU5, Russia, Poland, China, ASEAN, Australia and New Zealand, Japan, GCC countries, Ethiopia, North Africa, South Africa, others.
Key Market Segments CoveredProduct Type, End-User and Region
Key Companies Profiled• General Mills

• Nestle S.A.

• Dr Oetker GmbH

• McCain Foods Ltd.

• Conagra Brands Inc.

• Atkins Nutritionals Inc.

• California Pizza Kitchen

• Connies Pizza

• H.J. Heinz

• Daiya Foods Inc.


• Others

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Competitive Landscape

To improve the quality of products, major makers of frozen ready meals are concentrating heavily on research.

Campbell Soup Co: The company confirmed a complete restructuring in 2018 which will strengthen its presence in the rapidly changing foodservice sector. Campbell's main business operations, such as its important soups, pre - cooked meal, shelf-stable beverage portfolio, and large snacks portfolio, are now grouped under this new company.

Conagra Brands: In the year 2019, Pinnacle Foods acquired the company. Pinnacle's takeover of specialised gluten-free confectionary companies such as Udi's and Glutino may boost Conagra Brands. With this purchase, the company will combine two catalogues with commercial growth to build a USD 12 billion corporation with leading brands in the frozen, snacks, refrigerated food, and grocery sectors.

McCain: In 2018, the business formed a relationship with Forno de Minas, a well-known cheese manufacturer. McCain bought 49 percent stake in Forno de Minas in this deal.

Explore FMI’s Extensive ongoing Coverage on Food and Beverage Domain

Corn Protein Market: There is an increasing demand for corn protein in medical industry as it is not prone to viruses and danger unlike animal protein.

Starch Glucose Syrup Market: The global food market is witnessing a growing demand for bakery products largely due to an increase in consumer spending.

Xylanase Market: Baked goods are witnessing a rise in demand due to the additives like xylanase being used in their production.

Fungal amylase Market: Demand for fungal amylase has increased because it increases digestive efficiency and has optimum operation in an acidic environment, making it effective in the conditions of the digestive tract.

Bacterial Amylase Market: Bacterial amylase gives most starch products hydrolysis and enhances the quality of feed and food products that support a range of businesses globally.

Starches/Glucose Market: The increasing demand for convenience food products, and beverages, and increasing R&D (research and development) activities are driving the growth of global starches/glucose market.

Poultry Concentrate Market: The poultry sector is among one of the rapidly growing meat sectors, this is due to rising production and consumption of poultry meat.

Organic Starter-Grower Chicken Feed Market: Growing incidences of feed-allergies in chicks coupled with increasing investments in growth promotors to improve poultry production are supporting the strong demand of global organic starter-grower chicken feed market.

Milk Fat Fractions Market: Due to these health beneficial properties, the milk fat fraction is facing very high demand in the food industry along with infant formulations and is anticipated to grow in the forecast years.

Gut Modifiers Market: Gut modifiers such as prebiotics and probiotics are increasingly being used in several medical ailments across the globe.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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