Ready to Eat Food Market size is valued at $ 193Bn by 2019, and is anticipated to grow at a CAGR of 12.78% during the forecast period 2020-2025. The Ready to Eat Food Market growth rate is attributed to the growing demand for quick food and presence of freshness and high nutritional value in these foods. The Food and Drug Administration describes the ready-to-eat food as a plant or animal-derived foodstuff that is frozen, cooked, cooked for hot holding, washed, cooled, and processed to be eaten directly or just after heating. Ready-to-eat foodstuff must meet the terms with all USDA procedure associated with washing, processing, cooling, drying, packaging, and freezing. From increasing working population, growing per capita disposable income, rising per capita expenditure on conventional food, changing taste preferences of people and the change in lifestyle among affluent consumers to the rise in number of product innovations and the impact of e-commerce channels, social media, etc. is anticipated to propel the Ready to Eat Food Market during the forecast period 2020-2025.

Key Takeaways

North America dominated the Ready to Eat Food Market with a share of 37.9% in the year 2019.

The factors such as increasing working population, growing per capita disposable income, rising per capita expenditure on conventional food, changing taste preferences of people and the change in lifestyle among affluent consumers are amongst the major factor projected to impel growth of Ready to Eat Food Market.

Growing Urbanization in developing countries with their busy lifestyles which leads the urban people to suffer from time crunch and the penetration and availability of a wide variety of ready to eat food products in various attractive packaging formats at various distribution channels are the key factors owing to the growth in the segment during forecast period 2020-2025.

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By Geography - Segment Analysis

North America dominated the Ready to Eat Food Market with a share of 38% in 2019. North America remains the largest consumer of Ready to Eat Food owing to the growing awareness among consumers, food preferences among the consumers are raising the demand for ready meals in the regions of U.S. which continues to expand its market. Moreover, the presence of market giants such as Walmart, Tesco, 7Eleven and Aldi by expanding their stores with increasing the product offerings in order to attract the customers High initial capital investment on infrastructure, increasing production capacities of processing plants and increased demand for gluten-free meat are to cater the Ready to Eat Food Market in the forecast period of 2020-2025.

Drivers – Ready to Eat Food Market

Rapid urbanization and high disposable income

With the rapid urbanization, high disposable income, changing consumer lifestyle which leads the urban people to suffer from time crunch which is increasing the demand for on the go convenience foods, thereby fueling the ready-to-eat food market. Furthermore, with increased willingness to spend on such food innovative products with functional ingredients, convenience, and organic foods and advancement in areas of packaging technology are anticipated to act as a Ready to Eat Food key driver of the market during the forecast period 2020-2025.

Challenges – Ready to Eat Food Market

Increasing Health Awareness

The major challenge for the market is increasing health awareness, particularly in the young generation, is detrimental to the growth of this market. The reason is attributed to the fact that to enhance the shelf-life and to restore the nutritional content of the ready to eat food products, various products are loaded with preservatives thereby, with the rising concern for health a much of the consumer-base is shifted towards the benefits of home cooked food stuffs which are not found in ready to eat food products. Furthermore, with the product innovations being made which raises the price thereby making it affordable to only selected classes of the society.

Ready to Eat Food Industry Outlook

Ready to Eat Food Market top 10 companies are Nestle S.A.; Kraft Heinz Company; Chao Xiang Yuan Food Co. Ltd.; Dr. Oetker; ConAgra Brands, Inc.; BRF S.A.; Berkshire; General Mills; Massa Leve; Tyson Foods and others.

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