Newark, July 18, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 157.1 billion in 2022 prepared meals market will reach USD 311.94 billion by 2032. Prepared meals are a convenient and inexpensive choice. They are already cooked, so preparation takes less time. The market is anticipated to expand because of the hectic schedules of working people and students, as well as the changing dietary preferences of consumers toward ready-to-eat food items. The market for prepared meals has grown quickly in recent years. Because of our hectic lifestyles, expanding urbanization, and evolving dietary tastes, there is an increasing need for quick meal options. Customers who enjoy prepared meals are those with limited time or culinary skills. These meals provide a useful solution for persons and families looking for quick and easy supper choices.
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Key Insight of the Prepared Meals Market
Asia Pacific is anticipated to expand at the fastest CAGR of 9.3% over the projection period.
Asia Pacific is expected to grow at the fastest CAGR of 9.3% over the forecast period. One of the fastest-growing marketplaces for prepared meals worldwide is the Asia Pacific area. The region's dense population, quick urbanization, shifting lifestyles, and rising disposable incomes all contribute to the market's size. In the Asia Pacific region, lives have become busier as a result of urbanization and the increase of dual-income households. As a result, customers are looking for quick and easy meal alternatives, which has raised the market for prepared meals.
In the prepared meals market, the shelf-stable segment is anticipated to expand at the highest CAGR of 8.2% over the projection period.
The shelf-stable segment is anticipated to expand at the highest CAGR of 8.2% over the projection period. Meals that are shelf-stable can be eaten at room temperature without needing to be refrigerated. When regular food cannot be given, these are frequently referred to as emergency meals due to their affordability. Product introductions in this sector are anticipated to drive market expansion. For instance, NÜTY, an Indian firm that produces pre-packaged meals, introduced shelf-stable ready dishes in January 2020 utilizing a non-thermal cold pasteurized methodology. NÜTY's patented cooking method also made use of High-Pressure Processing technology. As a result, the business may provide packaged foods with a longer shelf life.
In the prepared meals market, the vegan segment is anticipated to expand at the highest CAGR of 8.4% over the projection period.
The vegan segment is anticipated to expand at the highest CAGR of 8.4% over the projection period. Millennials today are more concerned with their health and the welfare of animals, and they are prepared to pay a fair amount for vegan goods and components. Players are releasing a variety of prepared vegan food and snacks on the market due to these trends. For instance, Morrisons carried the first batch of BOSH!'s packaged vegan snacks in September 2021. In conjunction with packaged food expert Oscar Mayer, the product line comprises Shepherd's Pie and Chilli Non-Carne.
In the prepared meals market, the online segment is anticipated to expand at the highest CAGR of 9.1% over the projection period.
The online segment is anticipated to expand at the highest CAGR of 9.1% over the projection period. The total demand for pre-packaged meal products has been increasing via internet channels. The category is growing since major supermarkets and hypermarkets like Target, Walmart, and Aldi all provide online delivery. Many supermarkets have begun to sell the same packed meal brands on their own or in collaboration with cloud kitchens. For instance, Kroger Co. and the online grocery delivery service Instacart collaborated to introduce an innovative line of pre-packaged meals in January 2022. The roasted chicken, sushi, salads, sandwiches, coleslaw, and mashed potatoes that are offered by Kroger Co. may be delivered to clients in 30 minutes.
Prepared Meals Market: Report Scope
| Report Attribute | Details |
| Revenue forecast in 2032 | USD 311.94 Billion |
| Market size value in 2022 | USD 157.1 Billion |
| Expected CAGR Growth | 7.1% from 2023 - 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 - 2032 |
| Top Market Players | Dr. Oetker,Nomad Foods,Green Mill Foods,Unilever,2 Sisters Food Group,Nestlé,General Mills, Inc.,Kellogg Company,Conagra Brands, Inc.,Tyson Foods, Inc. |
| Segments Covered | Product, Meal Type, Distribution Channel |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Market Dynamics
Driver
The nutritional value and shelf life of prepared meals have increased because of developments in the processing of food, packaging, and preservation technology. Techniques including freezing, pressure sealing, and packing with a modified environment help preserve the meals' flavor, texture, and nutritional content. The market for prepared meals has been greatly influenced by the rise of food delivery companies. Customers have the option of ordering a range of ready-to-eat meals from cafes or specialist meal delivery services, giving them the comfort of eating restaurant-quality food in their homes.
Opportunity
The expansion of online shopping and online purchasing of groceries offer prepared meal businesses with a chance to reach more customers. Market reach and accessibility may be increased by making investments in strong online platforms, collaborations with e-commerce merchants, and direct-to-consumer sales strategies. Consumers looking for fast lunch options may be drawn by packaging improvements that improve convenience and use. Products on the market might be distinguished by microwave-ready packing, multi-compartment trays for simple portioning, or environmentally friendly containers that preserve food quality.
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Some of the major players operating in the prepared meals market are:
• Dr. Oetker
• Nomad Foods
• Green Mill Foods
• Unilever
• 2 Sisters Food Group
• Nestlé
• General Mills, Inc.
• Kellogg Company
• Conagra Brands, Inc.
• Tyson Foods, Inc.
Key Segments cover in the market:
By Product
• Canned
• Frozen
• Chilled
• Shelf-Stable
By Meal Type
• Vegetarian
• Non-vegetarian
• Vegan
By Distribution Channel
• Supermarkets/hypermarkets
• Convenience Stores
• Online
• Others
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About the report:
The market is analyzed based on value (USD Million).All the segments have been analyzed global, regional, and country basis.The study includes the analysis of more than 30 countries for each part.The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight.The study includes Porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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