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Ready Meals Market by Type, End User, and Distribution Channel (Store-based Retailing and Online Retailing): Global Opportunity Analysis and Industry Forecast 2022-2031

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    Report

  • 200 Pages
  • February 2022
  • Region: Global
  • Allied Market Research
  • ID: 5578180
UP TO OFF until Oct 24th 2024
The global ready meals market was valued at $138.1 billion in 2021, and is expected to reach $408.0 billion by 2031, registering a CAGR of 11.9% during the forecast period. Ready meals are defined as precooked meals that are prepared with minimum efforts. The ready meal market is characterized by the presence of large players with frequent innovations and product launch as their major strategy.



Increase in demand for packaged food predominantly drives the growth of the global ready meal market. Globally, the demand for packaged food is anticipated to increase at a moderate rate due to change in lifestyle and consumer preferences for ready-to-eat food products. In addition, rise in disposable income of people is expected to boost the demand for ready meals during the forecast period.

One of the major drawback of ready meals is that it does not taste similar or as good as the freshly cooked product does which let the consumer to choose the freshly cooked or baked meals instead of the frozen or ready meal. The product differentiation of ready meals is also limited in comparison to the general products available in the market. Another downside of refrigerated or frozen products is that they often comprise of unhealthy preservatives to have an even longer duration, which may affect the consumer’s health. Moreover, a complete cooling chain is essential for storing and consuming frozen food in a safe manner. However, in few cases, the cooling chain is expected to break due to power cut or other issues, which leads to the development of plenty of bacteria, specifically into food products that require high temperature control. This is further expected to turn the product unhealthy to consume and may lead to serious health problems.

Expansion of sales channel is the major factor that is expected to contribute to the growth of the ready meals market in the near future. Online retail platform is the fasted growing segment. Presently, many retail players are managing their own web-based retail stores where customers can learn more about the organization and its products. The availability of multiple options of product and their price comparison on online platforms also results in the increase in the number of online shopping consumers. This is beneficial to key players as it eliminates the need for any physical outlets or stores and also helps customers to read reviews provided by other users, and compare various stores, products, and the price by different sellers for the particular ready meals purchased. Furthermore, as per the data of World Bank, the North American region was the market leader with approximately 88.4% of the population are internet users, followed by Europe and Central Asia, accounting for around 83.9% of the population as internet users in 2019.

Some of the popular online retailers in the ready meals market are Amazon.com and Flipkart.com. Furthermore, other than sales channel, the product availability rises in convenient stores and local shops in small regions, which augments the market growth.

The ready meals market is segmented on the basis of type, end user distribution channel, and region. On the basis of type, the market is divided into canned/preserved ready meals, chilled pizza, chilled ready meals, dried ready meals, frozen pizza, frozen ready meals, and prepared salads. On the basis of end user, the market is divided into residential and food services. On the basis of distribution channel, it is classified into store-based retailing and online retailing. The store-based retailing segment is broadly classified into supermarkets/hypermarkets, discounters, convenience stores, and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The prominent players have adopted product launch as their key strategy to gain significant share in the market. The key players profiled in the report include Bakkavor Foods Ltd., ConAgra, Greencore Group Plc., JH Heinz Company Ltd., Nestle SA, Fleury Michon, Unilever Group, Northern Food Ltd., Kerry Foods Ltd., and Premier Foods Group Ltd.

Other players not profiled in the report include Oetker-Gruppe, Frosta AG, Campbell Soup Co, Bofrost Dienstleistungs GmbH & Co KG, Iglo Bird's Eye Frozen Foods, Freiberger Lebensmittel GmbH & Co KG, Hilcona AG, Gartenfrisch Jung GmbH, Bonduelle Groupe SA, and General Mills Inc.

KEY BENEFITS FOR STAKEHOLDERS

  • This report provides an extensive analysis of the current trends and emerging estimations in the global ready meals market
  • In-depth analysis of the industry is conducted through market estimations of key segments from 2022 to 2031
  • Comprehensive analysis of factors that drive and restrain the growth of the market is provided in the report
  • Extensive analysis of the industry is conducted by following key product positioning and monitoring the top competitors within the market framework
  • The key players are profiled along with their strategies to determine the competitive outlook of the market
Ready Meals Market

Key Segments:


By Type

  • Canned/Preserved Ready Meals
  • Chilled Pizza
  • Chilled Ready Meals
  • Dried Ready Meals
  • Frozen Pizza
  • Frozen Ready Meals
  • Prepared Salads
  • End User
  • Residential
  • Food Services

By Distribution Channel

  • Store-based Retailing
  • Supermarkets/Hypermarkets
  • Discounters
  • Convenience Stores
  • Others
  • Online Retailing

By Region

  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • France
  • Germany
  • UK
  • Spain
  • Italy
  • Rest of Europe
  • Asia-Pacific
  • India
  • China
  • Japan
  • South Korea
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • UAE
  • KSA
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

 

Please note:

  • Online Access price format is valid for 60 days access. Printing is not enabled.
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Table of Contents

Chapter 1: Introduction
1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools and Models
Chapter 2: Executive Summary
2.1. Cxo Perspective
Chapter 3: Market Landscape
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
3.3.1. Bargaining Power of Suppliers
3.3.2. Threat of New Entrants
3.3.3. Threat of Substitutes
3.3.4. Competitive Rivalry
3.3.5. Bargaining Power Among Buyers
3.4. Market Share Analysis/Top Player Positioning
3.4.1. Market Share Analysis/Top Player Positioning 2020
3.5. Market Dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. Covid-19 Impact Analysis
3.8. Value Chain Analysis
3.9. List of Value Chain Players
Chapter 4: Ready Meals Market, by Type
4.1. Market Overview
4.1.1Market Size and Forecast, by Type
4.2. Canned Preserved Ready Meals
4.2.1. Key Market Trends, Growth Factors and Opportunities
4.2.2. Market Size and Forecast, by Country
4.3. Chilled Pizza
4.3.1. Key Market Trends, Growth Factors and Opportunities
4.3.2. Market Size and Forecast, by Country
4.4. Chilled Ready Meals
4.4.1. Key Market Trends, Growth Factors and Opportunities
4.4.2. Market Size and Forecast, by Country
4.5. Dried Ready Meals
4.5.1. Key Market Trends, Growth Factors and Opportunities
4.5.2. Market Size and Forecast, by Country
4.6. Frozen Pizza
4.6.1. Key Market Trends, Growth Factors and Opportunities
4.6.2. Market Size and Forecast, by Country
4.7. Frozen Ready Meals
4.7.1. Key Market Trends, Growth Factors and Opportunities
4.7.2. Market Size and Forecast, by Country
4.8. Prepared Salads
4.8.1. Key Market Trends, Growth Factors and Opportunities
4.8.2. Market Size and Forecast, by Country
Chapter 5: Ready Meals Market, by End-user
5.1. Market Overview
5.1.1Market Size and Forecast, by End-user
5.2. Food Services
5.2.1. Key Market Trends, Growth Factors and Opportunities
5.2.2. Market Size and Forecast, by Country
5.3. Residential
5.3.1. Key Market Trends, Growth Factors and Opportunities
5.3.2. Market Size and Forecast, by Country
Chapter 6: Ready Meals Market, by Distribution Channel
6.1. Market Overview
6.1.1Market Size and Forecast, by Distribution Channel
6.2. Store Based Retailing
6.2.1. Key Market Trends, Growth Factors and Opportunities
6.2.2. Market Size and Forecast, by Country
6.3. Online Retailing
6.3.1. Key Market Trends, Growth Factors and Opportunities
6.3.2. Market Size and Forecast, by Country
Chapter 7: Company Profiles
7.1. Palman Foods
7.1.1. Company Overview
7.1.2. Key Executives
7.1.3. Company Snapshot
7.1.4. Operating Business Segments
7.1.5. Product Portfolio
7.1.6. Business Performance
7.1.7. Key Strategic Moves and Developments
7.2. Millennium Foods
7.2.1. Company Overview
7.2.2. Key Executives
7.2.3. Company Snapshot
7.2.4. Operating Business Segments
7.2.5. Product Portfolio
7.2.6. Business Performance
7.2.7. Key Strategic Moves and Developments
7.3. Gourmet Foods
7.3.1. Company Overview
7.3.2. Key Executives
7.3.3. Company Snapshot
7.3.4. Operating Business Segments
7.3.5. Product Portfolio
7.3.6. Business Performance
7.3.7. Key Strategic Moves and Developments
7.4. Fridge Foods Group
7.4.1. Company Overview
7.4.2. Key Executives
7.4.3. Company Snapshot
7.4.4. Operating Business Segments
7.4.5. Product Portfolio
7.4.6. Business Performance
7.4.7. Key Strategic Moves and Developments
7.5. Mccain Foods Limited
7.5.1. Company Overview
7.5.2. Key Executives
7.5.3. Company Snapshot
7.5.4. Operating Business Segments
7.5.5. Product Portfolio
7.5.6. Business Performance
7.5.7. Key Strategic Moves and Developments
7.6. General Mills
7.6.1. Company Overview
7.6.2. Key Executives
7.6.3. Company Snapshot
7.6.4. Operating Business Segments
7.6.5. Product Portfolio
7.6.6. Business Performance
7.6.7. Key Strategic Moves and Developments
7.7. Dr. Oetker
7.7.1. Company Overview
7.7.2. Key Executives
7.7.3. Company Snapshot
7.7.4. Operating Business Segments
7.7.5. Product Portfolio
7.7.6. Business Performance
7.7.7. Key Strategic Moves and Developments
7.8. Fleury Michon Sa
7.8.1. Company Overview
7.8.2. Key Executives
7.8.3. Company Snapshot
7.8.4. Operating Business Segments
7.8.5. Product Portfolio
7.8.6. Business Performance
7.8.7. Key Strategic Moves and Developments
7.9. Premier Foods Group Ltd
7.9.1. Company Overview
7.9.2. Key Executives
7.9.3. Company Snapshot
7.9.4. Operating Business Segments
7.9.5. Product Portfolio
7.9.6. Business Performance
7.9.7. Key Strategic Moves and Developments
7.10. Nestle
7.10.1. Company Overview
7.10.2. Key Executives
7.10.3. Company Snapshot
7.10.4. Operating Business Segments
7.10.5. Product Portfolio
7.10.6. Business Performance
7.10.7. Key Strategic Moves and Developments
List of Tables
Table 1. Ready Meals Market, by Type, 2021-2031 ($Million)
Table 2. Ready Meals Market, by End-user, 2021-2031 ($Million)
Table 3. Ready Meals Market, by Distribution Channel, 2021-2031 ($Million)
Table 4. Palman Foods: Company Snapshot
Table 5. Palman Foods: Operating Segments
Table 6. Palman Foods: Product Portfolio
Table 7. Palman Foods: Key Strategic Moves and Developments
Table 8. Millennium Foods: Company Snapshot
Table 9. Millennium Foods: Operating Segments
Table 10. Millennium Foods: Product Portfolio
Table 11. Millennium Foods: Key Strategic Moves and Developments
Table 12. Gourmet Foods: Company Snapshot
Table 13. Gourmet Foods: Operating Segments
Table 14. Gourmet Foods: Product Portfolio
Table 15. Gourmet Foods: Key Strategic Moves and Developments
Table 16. Fridge Foods Group: Company Snapshot
Table 17. Fridge Foods Group: Operating Segments
Table 18. Fridge Foods Group: Product Portfolio
Table 19. Fridge Foods Group: Key Strategic Moves and Developments
Table 20. Mccain Foods Limited: Company Snapshot
Table 21. Mccain Foods Limited: Operating Segments
Table 22. Mccain Foods Limited: Product Portfolio
Table 23. Mccain Foods Limited: Key Strategic Moves and Developments
Table 24. General Mills: Company Snapshot
Table 25. General Mills: Operating Segments
Table 26. General Mills: Product Portfolio
Table 27. General Mills: Key Strategic Moves and Developments
Table 28. Dr. Oetker: Company Snapshot
Table 29. Dr. Oetker: Operating Segments
Table 30. Dr. Oetker: Product Portfolio
Table 31. Dr. Oetker: Key Strategic Moves and Developments
Table 32. Fleury Michon Sa: Company Snapshot
Table 33. Fleury Michon Sa: Operating Segments
Table 34. Fleury Michon Sa: Product Portfolio
Table 35. Fleury Michon Sa: Key Strategic Moves and Developments
Table 36. Premier Foods Group Ltd: Company Snapshot
Table 37. Premier Foods Group Ltd: Operating Segments
Table 38. Premier Foods Group Ltd: Product Portfolio
Table 39. Premier Foods Group Ltd: Key Strategic Moves and Developments
Table 40. Nestle: Company Snapshot
Table 41. Nestle: Operating Segments
Table 42. Nestle: Product Portfolio
Table 43. Nestle: Key Strategic Moves and Developments
List of Figures
Figure 1. Ready Meals Market
Figure 2. Segmentation of Ready Meals Market
Figure 3. Top Investment Pocket in Ready Meals Market
Figure 4. Top Winning Strategies, by Year, 2019-2021*
Figure 5. Top Winning Strategies, by Development, 2019-2021*
Figure 6. Top Winning Strategies, by Company, 2019-2021*
Figure 7. Moderate Bargaining Power of Buyers
Figure 8. Moderate Bargaining Power of Suppliers
Figure 9. Moderate Threat of New Entrants
Figure 10. Low Threat of Substitution
Figure 11. High Competitive Rivalry
Figure 12. Restraints and Drivers: Ready Meals Market
Figure 13. Ready Meals Market Segmentation, by Type
Figure 14. Ready Meals Market for Canned Preserved Ready Meals, by Country, 2021-2031 ($ Million)
Figure 15. Ready Meals Market for Chilled Pizza, by Country, 2021-2031 ($ Million)
Figure 16. Ready Meals Market for Chilled Ready Meals, by Country, 2021-2031 ($ Million)
Figure 17. Ready Meals Market for Dried Ready Meals, by Country, 2021-2031 ($ Million)
Figure 18. Ready Meals Market for Frozen Pizza, by Country, 2021-2031 ($ Million)
Figure 19. Ready Meals Market for Frozen Ready Meals, by Country, 2021-2031 ($ Million)
Figure 20. Ready Meals Market for Prepared Salads, by Country, 2021-2031 ($ Million)
Figure 21. Ready Meals Market Segmentation, by End-user
Figure 22. Ready Meals Market for Food Services, by Country, 2021-2031 ($ Million)
Figure 23. Ready Meals Market for Residential, by Country, 2021-2031 ($ Million)
Figure 24. Ready Meals Market Segmentation, by Distribution Channel
Figure 25. Ready Meals Market for Store Based Retailing, by Country, 2021-2031 ($ Million)
Figure 26. Ready Meals Market for Online Retailing, by Country, 2021-2031 ($ Million)
Figure 27. Palman Foods: Key Executives
Figure 28. Palman Foods: Net Sales, 2018-2020 ($ Million)
Figure 29. Palman Foods: Revenue Share, by Segment, 2020 (%)
Figure 30. Palman Foods: Revenue Share, by Geography, 2020 (%)
Figure 31. Millennium Foods: Key Executives
Figure 32. Millennium Foods: Net Sales, 2018-2020 ($ Million)
Figure 33. Millennium Foods: Revenue Share, by Segment, 2020 (%)
Figure 34. Millennium Foods: Revenue Share, by Geography, 2020 (%)
Figure 35. Gourmet Foods: Key Executives
Figure 36. Gourmet Foods: Net Sales, 2018-2020 ($ Million)
Figure 37. Gourmet Foods: Revenue Share, by Segment, 2020 (%)
Figure 38. Gourmet Foods: Revenue Share, by Geography, 2020 (%)
Figure 39. Fridge Foods Group: Key Executives
Figure 40. Fridge Foods Group: Net Sales, 2018-2020 ($ Million)
Figure 41. Fridge Foods Group: Revenue Share, by Segment, 2020 (%)
Figure 42. Fridge Foods Group: Revenue Share, by Geography, 2020 (%)
Figure 43. Mccain Foods Limited: Key Executives
Figure 44. Mccain Foods Limited: Net Sales, 2018-2020 ($ Million)
Figure 45. Mccain Foods Limited: Revenue Share, by Segment, 2020 (%)
Figure 46. Mccain Foods Limited: Revenue Share, by Geography, 2020 (%)
Figure 47. General Mills: Key Executives
Figure 48. General Mills: Net Sales, 2018-2020 ($ Million)
Figure 49. General Mills: Revenue Share, by Segment, 2020 (%)
Figure 50. General Mills: Revenue Share, by Geography, 2020 (%)
Figure 51. Dr. Oetker: Key Executives
Figure 52. Dr. Oetker: Net Sales, 2018-2020 ($ Million)
Figure 53. Dr. Oetker: Revenue Share, by Segment, 2020 (%)
Figure 54. Dr. Oetker: Revenue Share, by Geography, 2020 (%)
Figure 55. Fleury Michon Sa: Key Executives
Figure 56. Fleury Michon Sa: Net Sales, 2018-2020 ($ Million)
Figure 57. Fleury Michon Sa: Revenue Share, by Segment, 2020 (%)
Figure 58. Fleury Michon Sa: Revenue Share, by Geography, 2020 (%)
Figure 59. Premier Foods Group Ltd: Key Executives
Figure 60. Premier Foods Group Ltd: Net Sales, 2018-2020 ($ Million)
Figure 61. Premier Foods Group Ltd: Revenue Share, by Segment, 2020 (%)
Figure 62. Premier Foods Group Ltd: Revenue Share, by Geography, 2020 (%)
Figure 63. Nestle: Key Executives
Figure 64. Nestle: Net Sales, 2018-2020 ($ Million)
Figure 65. Nestle: Revenue Share, by Segment, 2020 (%)
Figure 66. Nestle: Revenue Share, by Geography, 2020 (%)

Executive Summary

According to a new report titled, “Ready Meals Market by Type, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2022–2031, the global ready meals market size was valued at $138.1 billion in 2021, and is expected to reach $408.0 billion by 2031, registering a CAGR of 11.9% during the forecast period. Europe dominated the global ready meals market in 2021, accounting for three-fifths of the total ready meal market share.

Ready meals Industry can be described as precooked meals that require minimal time for preparation. Changes in lifestyle of people results in surge in demand for packaged and ready-to-eat food products. Increase in population and cost-effectiveness of these meals are other factors that supplement the market growth. According to the National Institutes of Health (NIH), above 90% of the U.S. population consume ready meals daily, which further boosts the growth of the market. However, health concerns and negative perceptions of customers pertaining to health effects of ready meals hinder the market growth. In addition, events such as horse meat scandal in UK has played a role in drawing consumers away from these meals. Furthermore, manufacturers are unable to ensure consistency and quality with existing transportation and storage systems, which hampers growth prospects of the ready meal market. Thus, manufacturers now focus more on packaging, which plays a significant role in retaining product quality, texture, shelf life, color, and taste of the meals. Manufacturers collaborate with companies involved in packaging to produce innovative and advanced packaging such as biodegradable barrier tray, which is anticipated to drive the ready meals market Demand in the near future.

The frozen pizza segment is expected to dominate the global ready meals market during the forecast period. However, the chilled pizza segment is anticipated to gain traction in the near future. Improvements in nutritional value, ease with which frozen pizza can be cooked, and interesting ingredient profiles are projected to supplement the market growth. In 2021, frozen pizza and chilled pizza segments collectively accounted for more than one-third share in the global ready meal market.

The store-based retailing segment accounted for a significant share in the global ready meal market in 2021, and is anticipated to remain dominant during the forecast period, as people prefer to shop food products from stores instead of online portals.

Key Findings And Scope

- In terms of value, the chilled pizza segment is expected to grow at a CAGR of 141% during the ready meals market forecast period
- Europe is projected to maintain its lead position by 2031, growing at a CAGR of 10.5%, in terms of value Asia-Pacific is anticipated to witness the highest growth during the forecast period
- The store-based retailing segment is estimated to occupy more than half share of the total market in 2021
- China is expected to occupy more than half share of the total Asia-Pacific ready meal market Trends by 2031
- In the global ready meal market, India is expected to grow at a CAGR of 126%, in terms of value, from 2022 to 2031
- In 2021, Europe accounted for approximately one-third share in terms of ready meal market analysis, and is expected to continue to be dominant during the forecast period Development of the food & beverage sector and increase in demand for packaged food are the major reason for the ready meals market growth in Europe

The prominent players have adopted product launch as their key strategy to gain significant share in the market. The key players profiled in the report include Bakkavor Foods Ltd., ConAgra, Greencore Group Plc., JH Heinz Company Ltd., Nestle SA, Fleury Michon, Unilever Group, Northern Food Ltd., Kerry Foods Ltd., and Premier Foods Group Ltd.

Other players not profiled in the report include Oetker-Gruppe, Frosta AG, Campbell Soup Co, Bofrost Dienstleistungs GmbH & Co KG, Iglo Bird's Eye Frozen Foods, Freiberger Lebensmittel GmbH & Co KG, Hilcona AG, Gartenfrisch Jung GmbH, Bonduelle Groupe SA, and General Mills Inc.

Companies Mentioned

  • Bakkavor Foods Ltd.
  • ConAgra
  • Greencore Group Plc.
  • JH Heinz Company Ltd.
  • Nestle SA
  • Fleury Michon
  • Unilever Group
  • Northern Food Ltd.
  • Kerry Foods Ltd.
  • Premier Foods Group Ltd.
  • Oetker-Gruppe
  • Frosta AG
  • Campbell Soup Co
  • Bofrost Dienstleistungs GmbH & Co KG
  • Iglo Bird's Eye Frozen Foods
  • Freiberger Lebensmittel GmbH & Co KG
  • Hilcona AG
  • Gartenfrisch Jung GmbH
  • Bonduelle Groupe SA
  • General Mills Inc.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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