New York, March 14, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ready Meals Global Market Report 2023" - https://www.reportlinker.com/p06310137/?utm_source=GNW
, Danone S.A., Sakara Life, and Gobble Inc.
The global ready meals market grew from $154.5 billion in 2022 to $169.01 billion in 2023 at a compound annual growth rate (CAGR) of 9.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The ready meals market is expected to grow to $244.09 billion in 2027 at a CAGR of 9.6%.
The ready meals market consists of sales of pre-cleaned, pre-cooked foods.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The ready meals are convenient, inexpensive, fast, and pre-portioned.The ready meals are complete meals that only require heating before eating.
They are ready to eat and already cooked or prepared. They are priced at a lower price and hence are cheap and convenient to use.
Western Europe was the largest region in the ready meals market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the ready meals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main components of the ready meals market are frozen, chilled, canned, and dried products.A frozen food product that has been factory processed to the point that it is ready for use as a food and may or may not require further heating before consumption is referred to as frozen food.
Ready meals are available on various distribution channels such as supermarkets/hypermarkets, convenience stores, and online.
The growing awareness of food products with extended shelf lives is significantly contributing to the growth of the ready meals market.The shelf life of a product is described as the amount of time it may be safely consumed while retaining its desired features such as sensory, functional, chemical, and microbiological properties.
People are on the lookout for food with a long shelf life such as ready meals as they are convenient, inexpensive, fast, and pre-portioned with extended shelf lives.For example, in June 2020, Truebell LLC, a US-based food and beverage exporter company has seen demand up to 300% for long shelf-life products.
Therefore, the growing awareness of food products with extended shelf lives is driving the growth of the ready meals market.
The increasing demand for fresher and more convenient nutritionally compliant dietary standards are key trend gaining popularity in the ready meals market.For instance, in September 2020, FiveStar Gourmet Foods ltd launched the Simply Fresh2GO ready-to-eat meals product line to deliver both in retail and school food services channels to meet strict national school lunch dietary standards.
It maintains that each item in the line has a balanced complete meal including protein, grains, fresh vegetables, and fruits.
In October 2020, Nestle, a Switzerland-based food and beverage company acquired Freshly for a deal amount of $1.5 billion. The acquisition is expected to bring together Freshly’s highly specialized consumer analytics platform and distribution network with Nestlé’s deep understanding of what and how people eat at home. Freshly is a US-based prepared ready-to-eat meal company.
The countries covered in the ready meals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The ready meals market research report is one of a series of new reports that provides ready meals market statistics, including ready meals industry global market size, regional shares, competitors with a ready meals market share, detailed ready meals market segments, market trends and opportunities, and any further data you may need to thrive in the ready meals industry. This ready meals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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