The latest report by IMARC, titled “Ready to Eat (RTE) Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global ready to eat food market is expected to exhibit a CAGR of 4.6% during 2023-2028. Ready to eat foods refer to food items that are safe to consume without further cooking or preparation. These foods include pre-packaged meals, snacks, and salads, as well as canned or frozen foods that have been cooked or prepared in some way. RTE foods may also include items, such as deli meats and cheeses, which have been sliced and packaged for immediate consumption. RTE foods are often convenient for working individuals or those without access to a kitchen or cooking facilities. They also have a long shelf life, making them popular for emergency situations or those who need to stock up on non-perishable items.
Global Ready to Eat Food Market Trends:
One of the primary factors driving the market is the changing lifestyles. Additionally, the increasing urbanization and the growing demand for convenience foods are creating a positive market outlook. Other than this, individuals leading a busy and time-constrained lifestyle seek quick and easy meal solutions requiring minimal preparation, thereby positively influencing the market growth. Besides this, a rise in single-person households and smaller living spaces, which may not have the facilities for cooking and storing fresh ingredients has escalated the demand for shelf-stable, easy-to-store food products such as canned or frozen RTE foods. In line with this, RTE foods are often perceived as healthier than traditional fast-food options, as they contain fresh ingredients and are lower in calories, fat, and sodium. This has led to an increasing number of health-conscious consumers seeking out RTE options. Furthermore, the RTE food industry is expected to grow in the coming years as companies innovate and develop new products to meet the evolving needs of consumers. Other growth-inducing factors include expanding disposable incomes of the masses, extensive research and development activities by key players, and easy accessibility of this product through offline and online retail channels.
- On the basis of the product type, the market has been divided into meat/poultry based, cereal based, fruits/vegetable based, and others.
- Based on the packaging type, the market has been segmented into canned, frozen/chilled, retort, and others.
- On the basis of the distribution channel, the market has been categorized into supermarkets and hypermarkets, convenience stores, food specialty stores, departmental stores, online stores, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being 2 Sisters Food Group (Boparan Holdings), ADF Foods Ltd., Bakkavor Foods Ltd., Birds Eye Ltd., Findus Group Ltd., General Mills Inc., Greencore Group Plc., ITC Limited, McCain Foods, MTR Foods Pvt. Ltd. (Orkla ASA), Nomad Foods Ltd., and Premier Foods Group Ltd.
|Base Year of the Analysis
||Product Type, Packaging Type, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||2 Sisters Food Group (Boparan Holdings), ADF Foods Ltd., Bakkavor Foods Ltd., Birds Eye Ltd., Findus Group Ltd., General Mills Inc., Greencore Group Plc., ITC Limited, McCain Foods, MTR Foods Pvt Ltd. (Orkla ASA), Nomad Foods Ltd. and Premier Foods Group Ltd.
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