Westford, USA, Aug. 01, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the ready meals market is experiencing substantial growth, with developing countries like India emerging as significant contributors to this expansion. The increasing urbanization in these regions has played a crucial role in driving the market's growth. As urban populations grow, there is a rising demand for convenient food options that fit into busy lifestyles, leading to increased consumption of frozen meals.
Browse in-depth TOC on the "Ready Meals Market"
- Pages - 261
- Tables - 65
- Figures – 75
Ready meals have emerged as a cost-effective and time-saving alternative for consumers seeking quick and convenient meal options. Being precooked and readily available year-round, these dishes offer a hassle-free solution to meet the demands of modern lifestyles in the ready meals market.
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Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 149.9 Billion |
| 2030 Value Projection | USD 225.28 Billion |
| CAGR | 5.1% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Ready Meals Market
- Nestle
- ConAgra Foods Inc.
- Kraft Foods Group Inc.
- Unilever PLC
- Campbell Soup Company
- Hormel Foods Corporation
- The Hain Celestial Group, Inc.
- The Schwan Food Company
- The Kellogg Company
- General Mills Inc.
- McCain Foods Limited
- Ajinomoto Co. Inc.
- Bakkavor Group plc
- Nomad Foods Europe Limited
- Tyson Foods, Inc.
- JBS S.A.
- Kerry Group
- Amy's Kitchen Inc.
- The 2 Sisters Food Group
- Dr. Oetker KG.
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Frozen Segment is Expected to Grow in the Market Due to the Convenience it Offers to Consumers
Frozen segment emerged as the dominant force in the ready meals market, and its reign is expected to persist throughout the forecast period. The key factor driving the significant growth of the frozen segment is the convenience it offers consumers.
The markets in North America dominated the global ready meals market, commanding the most significant share at 41.4%. The United States emerged as the largest consumer of these convenient meal options within the region.
Shelf-Stable Segment is Expected to Dominate the Market Due to their Rapid Expansion
Shelf-stable segment is anticipated to exhibit the highest growth rate in the ready meals market. Shelf-stable meals have distinct advantages that contribute to their rapid expansion. One of the key benefits is their long shelf life, which allows them to be stored without refrigeration and consumed at room temperature.
Regional markets in Asia are projected to grow rapidly as the fastest-growing ready meals market. One of the key drivers behind this expansion is the region's growing target population, which presents a vast and increasingly urbanized consumer base.
A comprehensive analysis of the major players in the ready meals market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Ready Meals Market
- Riviana Foods Inc., a subsidiary of Ebro Foods based in Madrid, Spain, recently significantly contributed to the culinary world by launching their Success Garden & Grains Blends. This innovative product marked the first boil-in-bag offering that combined rice with simple and wholesome ingredients. Available in various enticing varieties, such as White rice with black beans, corn, and bell peppers, and White rice with peas, carrot, and red bell peppers, Success Garden & Grains Blends catered to consumers seeking a convenient and nutritious meal solution.
- Recently, a notable achievement in plant-based food offerings was made by a Nestlé-owned brand, which introduced its first fully vegan meal line. This groundbreaking development was part of the brand's new Purely Plant menu, which included six chef-prepared meal options. The menu aimed to showcase plant-based foods' nutritional advantages and delectable possibilities.
Key Questions Answered in Ready Meals Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
Related Reports in SkyQuest’s Library:
Global Functional Foods Market
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