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| ✷ Report Code: A02304 | Feb 2022 | Pages: 200 | ||
| Tables: 43 | Charts: 66 |
| |
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Ready Meals Market
Request Now !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 considered as a cost-effective alternative meals and their preparation requires less time, as they are precooked. These meals are available throughout the year and are safe to consume. Though processed food cause loss of nutrition, various methods utilized to prepare ready meals ensure that the loss of nutrients is minimal in most cases.
With an unprecedented COVID-19 pandemic, demand for ready meals has witnessed a rise, owing to implementation of lockdown by governments in majority of the countries and growing adoption of ready to eat food. In addition, with the ongoing shift to remote work and surge in need for instant meals is leading to rise in demand for convenient food products which requires less preparation time and is healthy.
Increase in convenience offered in terms of time saving and little efforts required for the preparation of these meals drives the growth of the ready meals market. Moreover, preference for these meals by the working population and students has increased, owing to the fact that it requires only heating before consumption, which reduces the overall effort of cooking. In addition, these meals serve as low-cost alternatives to junk food, which is anticipated to boost their demand in the near future. However, increase in health awareness and negative perceptions pertaining to health effects of these products among the consumers restrain the market growth.
Nevertheless, the industry faces multiple challenges, which includes counterfeiting. Adulteration of ready meals containing fake ingredient results in big loss to key players, as there are large number of counterfeited food products available in the market. Furthermore, counterfeiting of established brands often tarnishes the brand image and brand loyalty and such malpractices challenge the market expansion for leading players operating in the market.
Organic is one of the trending market that is common in almost every food and beverage product. As consumers are becoming health-conscious and are aware of unhealthy production and cultivation of food crops and their effects over the body, the demand for organic products also rises in the market. For instance, benefits associated with organic products include no usage of harmful chemicals, fertilizers, GMO ingredients, pesticides, radiation, or genetic engineering. Therefore, the growth in demand for organic coupled with the awareness trend regarding health benefits of ready meals are expected to boost the demand for ready meals in the global market during the forecast period. Furthermore, availability of such products is becoming much easier through the use of online stores and delivery services, which further aids in the ready meals market growth.
Segment Review
The ready meals market is segmented on the basis of type, 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.
On the basis of type, the frozen pizza segment holds the maximum market share owing to high consumer demand and low prices in the market. However, the prepared salads segment is expected to be the fastest growing segment during the forecast period.
On the basis of end user, the residential segment dominated the global market in 2020, however, the food services segment is expected to be the fastest growing segment during the ready meals market forecast period.
On the basis of distribution channel, the online retailing segment is the fastest growing segment owing to rise in internet penetration and smart phones among the consumers. However, the stored-based retailing segment is expected to remain the largest dominating segment of the market owing to ease of accessibility and availability of the ready meals products.
GProminent players have adopted product launch as their key strategy to gain significant Ready Meals Market share in the market. 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.
COVID-19 Impact Analysis
Key Benefits of Ready Meal Market:
Ready Meals Market Report Highlights
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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 (%)
The food service industry has grown significantly in the past two decades. The balance of work, family, and social life is becoming difficult for the working population, which results in consumers shifting towards prepared food rather than spending time in preparing it themselves in order to spend more time with the friends and family, which is the major growth factor of the food service market. Also, globally, the size of food service industry increased by $2.6 trillion in 2019, and it is still growing rapidly owing to factors such as increase in women employment rate, urbanization, rise in disposable income, and the surge in trend of casual dining.
The ready meals market witnessed significant growth, owing to change in lifestyles & food habits, variations in demographics, upsurge in organized retail, rise in disposable income, and increase in urbanization. Consumers are inclined towards packaged food due to concern about food safety and ease of handling. Surge in demand for convenience food, ongoing impact of high inflation and premiumization of products have been pivotal to boost sales in the ready meals market. Intense competition in the ready meals market demands for frequent product launches and high degree of product innovation from brand manufacturers to offset the intense competition.
Europe is anticipated to account for a significant share in the global ready meals market during the forecast period. Hectic lifestyle in Germany fuels the demand for convenient solutions in all life areas, including dietary habits of Germans, which in turn is anticipated to boost the ready meals market in the near future. Manufacturers focus on increased usage of grains and vegetables in their product formulations to cater to the rise in demands for Italian consumers of higher nutrition value.
A. The global ready meals market was valued at IS expected to reach $408.0 billion by 2031
A. 11.9% is the CAGR of Ready Meals Market
A. Kindly raise an inquiry through the chat box and our business executive will get in touch with you with the details on the purchase options.
A. 2020 is the base year calculated in the Ready Meals Market report
A. Top companies the Ready Meals Market include Bakkavor Foods Ltd., ConAgra, Greencore Group Plc., JH Heinz Company Ltd., Nestle SA
A. The ready meals market is segmented on the basis of type, end user, distribution channel, and region
A. The key trends of ready meals market includes growth of convenience food and organic food products.
A. Europe region holds the maximum market share of the Ready Meals Market
A. The COVID-19 pandemic had a significant impact on the convenience and frozen food products owing to the growth in adoption of convenience products due to strict regulations and restrictions and rise in work from home opportunities which led the customer to opt convenience food more.
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