The ready-to-eat food market is projected to reach US$ 1,471.94 billion by 2028 from US$ 1,073.87 billion in 2022. It is expected to grow at a CAGR of 5.4% from 2022 to 2028.Ready-to-eat food refers to food that may be securely partaken by consumers without cooking it. Ready to eat or ready to cook food is also termed fast food, which is effortless to prepare and eat up. It typically involves an instant meal, packed snack food, bread, pasta, breakfast cereals, fruit snacks, sauces, processed meat, protein bars, and more. The major growing factor towards ready-to-eat food market is the changing food consumption behavior amongst consumers. The prime factor driving the ready-to-eat food market is the increased willingness to spend on such food and the lack of time to cook at home due to rapid urbanization.
Based on product type, the ready-to-eat food market is segmented into breakfast cereals, instant soup & noodles, ready meals, snacks, baked goods & confectioneries, and others. The Ready meals segment accounted for the fastest-growing segment in the forecast period. The convenience offered in terms of time savings and the little effort required to prepare these meals is driving the expansion of the ready meals segment.
Furthermore, the working population and millennials have become more interested in these meals because they only require heating before consumption, reducing overall effort. Manufacturers are working on developing novel products to meet rising demand and gain significant market share. For Instance, Freshly Inc., the meal delivery service owned by Nestle SA, introduced a new product line in 2020 for consumers seeking to command their health and fuel active lifestyles. These factors are expected to fuel the growth of ready-to-eat food market during the forecast period.Based on geography, the ready-to-eat food market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2020, Asia Pacific held the largest share of the market, and it is also expected to register the highest CAGR in the market during the forecast period. The diffusion of supermarkets in Asia favored the consumption of processed foods in the region and is expected to continue tracing the growth of respective distribution channels.
Moreover, attracted by increasingly open markets, changing consumer preferences, young and growing populations, and high economic growth rates, the transnational food, and beverage corporations (TFBCs) are targeting the Asian markets at a high pace. Moreover, the consumption of ultra-processed food is increasing in Asia. These factors are fueling the growth of the ready-to-eat food market across Asia Pacific.
The leading players in the ready-to-eat food market are Nestlé SA; Conagra Brands Inc.; The Kraft Heinz Company; General Mills Inc.; CAMPBELL SOUP COMPANY; MTR Foods Pvt Ltd.; Hormel Foods Corporation; Tyson Foods, Inc.; JBS S.A.; and The Kellogg Company. These players are developing a variety of products (RRPs) to address consumers' growing demand. Growing health-conscious consumer manufacturers are launching nutritious RTE products rich in vitamins, minerals, and other nutrients. According to the "World Health Organization," in 2019, diabetes was the ninth leading cause of death, with an estimated 1.5 million deaths directly caused by diabetes. Thus, manufacturers are taking initiatives to prepare gluten-free and sugar-free RTE products.The size of the ready-to-eat food market has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants, including valuation experts, research analysts, and key opinion leaders, specializing in the ready-to-eat food market.
Based on product type, the ready-to-eat food market is segmented into breakfast cereals, instant soup & noodles, ready meals, snacks, baked goods & confectioneries, and others. The Ready meals segment accounted for the fastest-growing segment in the forecast period. The convenience offered in terms of time savings and the little effort required to prepare these meals is driving the expansion of the ready meals segment.
Furthermore, the working population and millennials have become more interested in these meals because they only require heating before consumption, reducing overall effort. Manufacturers are working on developing novel products to meet rising demand and gain significant market share. For Instance, Freshly Inc., the meal delivery service owned by Nestle SA, introduced a new product line in 2020 for consumers seeking to command their health and fuel active lifestyles. These factors are expected to fuel the growth of ready-to-eat food market during the forecast period.Based on geography, the ready-to-eat food market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2020, Asia Pacific held the largest share of the market, and it is also expected to register the highest CAGR in the market during the forecast period. The diffusion of supermarkets in Asia favored the consumption of processed foods in the region and is expected to continue tracing the growth of respective distribution channels.
Moreover, attracted by increasingly open markets, changing consumer preferences, young and growing populations, and high economic growth rates, the transnational food, and beverage corporations (TFBCs) are targeting the Asian markets at a high pace. Moreover, the consumption of ultra-processed food is increasing in Asia. These factors are fueling the growth of the ready-to-eat food market across Asia Pacific.
The leading players in the ready-to-eat food market are Nestlé SA; Conagra Brands Inc.; The Kraft Heinz Company; General Mills Inc.; CAMPBELL SOUP COMPANY; MTR Foods Pvt Ltd.; Hormel Foods Corporation; Tyson Foods, Inc.; JBS S.A.; and The Kellogg Company. These players are developing a variety of products (RRPs) to address consumers' growing demand. Growing health-conscious consumer manufacturers are launching nutritious RTE products rich in vitamins, minerals, and other nutrients. According to the "World Health Organization," in 2019, diabetes was the ninth leading cause of death, with an estimated 1.5 million deaths directly caused by diabetes. Thus, manufacturers are taking initiatives to prepare gluten-free and sugar-free RTE products.The size of the ready-to-eat food market has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants, including valuation experts, research analysts, and key opinion leaders, specializing in the ready-to-eat food market.
Table of Contents
1. Introduction1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis Formulation:
3.2.4 Macro-Economic Factor Analysis:
3.2.5 Developing Base Number:
3.2.6 Data Triangulation:
3.2.7 Country Level Data:
4. Ready-to-Eat Food Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Expert Opinion
4.4 Ecosystem Analysis
5. Ready-to-Eat Food Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Strong Preference for Convenience Food Among Millennials
5.1.2 Rise in Working Women Population
5.2 Market Restraints
5.2.1 Risk of Microbial Contamination in RTE Products
5.3 Market Opportunities
5.3.1 Innovations in RTE Products and Strategic Developments by Manufacturers
5.4 Future Trends
5.4.1 Consumer Inclination Toward Low-Fat, Low-Sugar, and Nutritious RTE Products
5.5 Impact Analysis of Drivers and Restraints
6. Ready-to-Eat Food- Global Market Analysis
6.1 Ready-to-Eat Food Market Overview
6.2 Ready-to-Eat Food Market - Revenue and Forecast to 2028 (US$ Billion)
6.3 Competitive Positioning - Key Market Players
7. Ready-to-Eat Food Market Analysis - By Product Type
7.1 Overview
7.2 Ready-to-Eat Food Market, By Product Type (2020 and 2028)
7.3 Breakfast Cereals
7.3.1 Overview
7.3.2 Breakfast Cereals: Ready-to-Eat Food Market - Revenue and Forecast to 2028 (US$ Bn)
7.4 Instant Soups and Noodles
7.4.1 Overview
7.4.2 Instant Soups and Noodles: Ready-to-Eat Food Market - Revenue and Forecast to 2028 (US$ Bn)
7.5 Ready Meals
7.5.1 Overview
7.5.2 Ready Meals: Ready-to-Eat Food Market - Revenue and Forecast to 2028 (US$ Bn)
7.6 Snacks
7.6.1 Overview
7.6.2 Snacks: Ready-to-Eat Food Market - Revenue and Forecast to 2028 (US$ Bn)
7.7 Baked Goods and Confectionaries
7.7.1 Overview
7.7.2 Baked Goods and Confectionaries: Ready-to-Eat Food Market - Revenue and Forecast to 2028 (US$ Bn)
7.8 Others
7.8.1 Overview
7.8.2 Others: Ready-to-Eat Food Market - Revenue and Forecast to 2028 (US$ Bn)
8. Ready-to-Eat Food Market Analysis - By Distribution Channel
8.1 Overview
8.2 Ready-to-Eat Food Market, By Distribution Channel (2020 and 2028)
8.3 Supermarkets and Hypermarkets
8.3.1 Overview
8.3.2 Supermarkets and Hypermarkets: Ready-to-Eat Food Market - Revenue and Forecast to 2028 (US$ Bn)
8.4 Convenience Stores
8.4.1 Overview
8.4.2 Convenience Stores: Ready-to-Eat Food Market - Revenue and Forecast to 2028 (US$ Bn)
8.5 Online Retail
8.5.1 Overview
8.5.2 Online Retail: Ready-to-Eat Food Market - Revenue and Forecast to 2028 (US$ Bn)
8.6 Others
8.6.1 Overview
8.6.2 Others Distribution Channel: Ready-to-Eat Food Market - Revenue and Forecast to 2028 (US$ Bn)
9. Ready-to-Eat Food Market - Geographic Analysis
9.1 Overview
9.2 North America: Ready-to-Eat Food Market
9.2.1 North America: Ready-to-Eat Food Market- Revenue and Forecast to 2028 (US$ Billion)
9.2.2 North America: Ready-to-Eat Food Market, by Product Type
9.2.3 North America: Ready-to-Eat Food Market, by Distribution Channel
9.2.4 North America: Ready-to-Eat Food Market, by Key Country
9.2.4.1 US: Ready-to-Eat Food Market- Revenue and Forecast to 2028 (US$ Billion)
9.2.4.1.1 US: Ready-to-Eat Food Market, by Product Type
9.2.4.1.2 US: Ready-to-Eat Food Market, by Distribution channel
9.2.4.2 Canada: Ready-to-Eat Food Market- Revenue and Forecast to 2028 (US$ Billion)
9.2.4.2.1 Canada: Ready-to-Eat Food Market, by Product Type
9.2.4.2.2 Canada: Ready-to-Eat Food Market, by Distribution Channel
9.2.4.3 Mexico: Ready-to-Eat Food Market- Revenue and Forecast to 2028 (US$ Billion)
9.2.4.3.1 Mexico: Ready-to-Eat Food Market, by Product Type
9.2.4.3.2 Mexico: Ready-to-Eat Food Market, by Distribution Channel
9.3 Europe: Ready-to-Eat Food Market
9.3.1 Europe: Ready-to-Eat Food Market - Revenue and Forecast to 2028 (US$ Billion)
9.3.2 Europe: Ready-to-Eat Food Market, by Product Type
9.3.3 Europe: Ready-to-Eat Food Market, by Distribution Channel
9.3.4 Europe: Ready-to-Eat Food Market, by Key Country
9.3.4.1 Germany: Ready-to-Eat Food Market - Revenue and Forecast to 2028 (US$ Billion)
9.3.4.1.1 Germany: Ready-to-Eat Food Market, by Product Type
9.3.4.1.2 Germany: Ready-to-Eat Food Market, by Distribution Channel
9.3.4.2 UK: Ready-to-Eat Food Market - Revenue and Forecast to 2028 (US$ Billion)
9.3.4.2.1 UK: Ready-to-Eat Food Market, by Product Type
9.3.4.2.2 UK: Ready-to-Eat Food Market, by Distribution Channel
9.3.4.3 France: Ready-to-Eat Food Market - Revenue and Forecast to 2028 (US$ Billion)
9.3.4.3.1 France: Ready-to-Eat Food Market, by Product Type
9.3.4.3.2 France: Ready-to-Eat Food Market, by Distribution Channel
9.3.4.4 Italy: Ready-to-Eat Food Market - Revenue and Forecast to 2028 (US$ Billion)
9.3.4.4.1 Italy: Ready-to-Eat Food Market, by Product Type
9.3.4.4.2 Italy: Ready-to-Eat Food Market, by Distribution Channel
9.3.4.5 Russia: Ready-to-Eat Food Market - Revenue and Forecast to 2028 (US$ Billion)
9.3.4.5.1 Russia: Ready-to-Eat Food Market, by Product Type
9.3.4.5.2 Russia: Ready-to-Eat Food Market, by Distribution Channel
9.3.5.6 Rest of Europe: Ready-to-Eat Food Market - Revenue and Forecast to 2028 (US$ Billion)
9.3.4.6.1 Rest of Europe: Ready-to-Eat Food Market, by Product Type
9.3.4.6.2 Rest of Europe: Ready-to-Eat Food Market, by Distribution Channel
9.4 Asia-Pacific Ready-to-Eat Food Market Revenue and Forecasts to 2028
9.4.1 Asia-Pacific Ready-to-Eat Food Market Revenue Forecasts to 2028 (US$ Billion)
9.4.2 Asia-Pacific Ready-to-Eat Food Market Breakdown by Product Type
9.4.3 Asia-Pacific Ready-to-Eat Food Market Breakdown by Distribution Channel
9.4.4 Asia-Pacific Ready-to-Eat Food Market Breakdown, by Key Countries
9.4.4.1 Australia Ready-to-Eat Food Market Revenue Forecasts to 2028 (US$ Billion)
9.4.4.1.1 Australia Ready-to-Eat Food Market Breakdown by Product Type
9.4.4.1.2 Australia Ready-to-Eat Food Market Breakdown by Distribution Channel
9.4.4.2 China Ready-to-Eat Food Market Revenue Forecasts to 2028 (US$ Billion)
9.4.4.2.1 China Ready-to-Eat Food Market Breakdown by Product Type
9.4.4.2.2 China Ready-to-Eat Food Market Breakdown by Distribution Channel
9.4.4.3 India Ready-to-Eat Food Market Revenue Forecasts to 2028 (US$ Billion)
9.4.4.3.1 India Ready-to-Eat Food Market Breakdown by Product Type
9.4.4.3.2 India Ready-to-Eat Food Market Breakdown by Distribution Channel
9.4.4.4 Japan Ready-to-Eat Food Market Revenue Forecasts to 2028 (US$ Billion)
9.4.4.4.1 Japan Ready-to-Eat Food Market Breakdown by Product Type
9.4.4.4.2 Japan Ready-to-Eat Food Market Breakdown by Distribution Channel
9.4.4.5 South Korea Ready-to-Eat Food Market Revenue Forecasts to 2028 (US$ Billion)
9.4.4.5.1 South Korea Ready-to-Eat Food Market Breakdown by Product Type
9.4.4.5.2 South Korea Ready-to-Eat Food Market Breakdown by Distribution Channel
9.4.4.6 Rest of Asia-Pacific Ready-to-Eat Food Market Revenue Forecasts to 2028 (US$ Billion)
9.4.4.6.1 Rest of Asia-Pacific Ready-to-Eat Food Market Breakdown by Product Type
9.4.4.6.2 Rest of Asia-Pacific Ready-to-Eat Food Market Breakdown by Distribution Channel
9.5 Middle East & Africa Ready-to-Eat Food Market Revenue and Forecasts to 2028
9.5.1 Middle East & Africa Ready-to-Eat Food Market Revenue Forecasts to 2028 (US$ Billion)
9.5.2 Middle East & Africa Ready-to-Eat Food Market Breakdown by Product Type
9.5.3 Middle East & Africa Ready-to-Eat Food Market Breakdown by Distribution Channel
9.5.4 Middle East & Africa Ready-to-Eat Food Market Breakdown, by Key Countries
9.5.4.1 South Africa Ready-to-Eat Food Market Revenue Forecasts to 2028 (US$ Billion)
9.5.4.1.1 South Africa Ready-to-Eat Food Market Breakdown by ProductType
9.5.4.1.2 South Africa Ready-to-Eat Food Market Breakdown by Distribution Channel
9.5.4.2 Saudi Arabia Ready-to-Eat Food Market Revenue Forecasts to 2028 (US$ Billion)
9.5.4.2.1 Saudi Arabia Ready-to-Eat Food Market Breakdown by Product Type
9.5.4.2.2 Saudi Arabia Ready-to-Eat Food Market Breakdown by Distribution Channel
9.5.4.3 UAE Ready-to-Eat Food Market Revenue Forecasts to 2028 (US$ Billion)
9.5.4.3.1 UAE Ready-to-Eat Food Market Breakdown by Product Type
9.5.4.3.2 UAE Ready-to-Eat Food Market Breakdown by Distribution Channel
9.5.4.4 Rest of Middle East & Africa Ready-to-Eat Food Market Revenue Forecasts to 2028 (US$ Billion)
9.5.4.4.1 Rest of Middle East & Africa Ready-to-Eat Food Market Breakdown by Product Type
9.5.4.4.2 Rest of Middle East & Africa Ready-to-Eat Food Market Breakdown by Distribution Channel
9.6 South & Central America Ready-to-Eat Food Market Revenue and Forecasts to 2028
9.6.1 South & Central America Ready-to-Eat Food Market Revenue Forecasts to 2028 (US$ Billion)
9.6.2 South & Central America Ready-to-Eat Food Market Breakdown by Product Type
9.6.3 South & Central America Ready-to-Eat Food Market Breakdown by Distribution Channel
9.6.4 South & Central America Ready-to-Eat Food Market Breakdown, by Key Countries
9.6.4.1 Brazil Ready-to-Eat Food Market Revenue Forecasts to 2028 (US$ Billion)
9.6.4.1.1 Brazil Ready-to-Eat Food Market Breakdown by Product Type
9.6.4.1.2 Brazil Ready-to-Eat Food Market Breakdown by Distribution Channel
9.6.4.2 Argentina Ready-to-Eat Food Market Revenue Forecasts to 2028 (US$ Billion)
9.6.4.2.1 Argentina Ready-to-Eat Food Market Breakdown by Product Type
9.6.4.2.2 Argentina Ready-to-Eat Food Market Breakdown by Distribution Channel
9.6.4.3 Rest of South & Central America Ready-to-Eat Food Market Revenue Forecasts to 2028 (US$ Billion)
9.6.4.3.1 Rest of South & Central America Ready-to-Eat Food Market Breakdown by Product Type
9.6.4.3.2 Rest of South & Central America Ready-to-Eat Food Market Breakdown by Distribution Channel
10. Impact of COVID-19 Pandemic on Global Ready-to-Eat Food Market
10.1 Overview
10.2 North America: Impact Assessment of COVID-19 Pandemic
10.3 Europe: Impact Assessment of COVID-19 Pandemic
10.4 Asia Pacific: Impact Assessment of COVID-19 Pandemic
10.5 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
10.6 South & Central America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
12. Company Profiles
12.1 Nestlé SA
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Conagra Brands Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 The Kraft Heinz Company
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 General Mills Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 CAMPBELL SOUP COMPANY
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 MTR Foods Pvt Ltd.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Hormel Foods Corporation
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Tyson Foods, Inc.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 JBS S.A.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 The Kellogg Company
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
12. Appendix
12.1 About the Publisher
12.2 Word Index
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Nestlé SA
- Conagra Brands Inc.
- The Kraft Heinz Company
- General Mills Inc.
- CAMPBELL SOUP COMPANY
- MTR Foods Pvt Ltd.
- Hormel Foods Corporation
- Tyson Foods, Inc.
- JBS S.A.
- The Kellogg Company
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 163 |
| Published | May 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( $ | $ 1073870 million |
| Forecasted Market Value ( $ | $ 1471940 million |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
