Global Ready Meals Market Report and Forecast 2024-2032

Global Ready Meals Market Outlook

The global ready meals market size reached approximately USD 149.21 billion in 2023. The market is estimated to grow at a CAGR of 4.9% in the forecast period of 2024-2032, reaching a value of around USD 230.24 billion by 2032.

Key Trends in the Market

Ready meals or ready-to-eat meals refer to precooked and packaged meals that only require heating before consumption. These meals are a convenient option for individuals with hectic lifestyles who do not have the leisure of cooking meals from scratch every day.

• The increased preference for healthy readymade meals such as vegan, Mediterranean, and paleo, among others, due to growing health awareness among consumers is one of the key ready meals market trends. These meals are rich in vitamins, minerals, lean proteins, and antioxidants, among other nutrients, that offer a wide range of health benefits and make them popular among health and fitness enthusiasts.

• There is a notable shift in consumer preference towards organic readymade meals as they are free of any artificial additives, chemicals, and pesticides, and consist of natural ingredients, which further provides impetus to the ready meals market growth.

• With the growing trend of sustainability, there is a surge in the implementation of green packaging solutions such as PET, paper containers, and PVC and PE stretch films in ready meals.

Market Analysis

Based on product, the market is categorised into frozen, chilled, canned, and shelf-stable. On the basis of meal type, the market is divided into vegetarian, non-vegetarian, and vegan. The ready meals market segmentation, based on distribution channel, includes supermarkets and hypermarkets, convenience stores, and online, among others.  The major regional markets of ready meals are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the ready meals market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Nestle S.A.  

• Mars, Incorporated  

• General Mills Inc.  

• Dr. August Oetker Nahrungsmittel KG  

• Tyson Foods, Inc.  

• Conagra Brands, Inc.  

• Hormel Foods, LLC  

• McCain Foods Ltd.  

• Nomad Foods  

• Boparan Holdings Limited  

• Others

Market Share by Distribution Channel

As per the ready meals market analysis, supermarkets and hypermarkets account for a significant share of the global market owing to their increased convenience and accessibility to consumers. These stores offer a wide variety of ready-to-eat products such as readymade snacks, salads, and soups. Additionally, the provision of free sampling of ready meals in several stores offers consumers the leisure to test out the product before purchasing, which further enhances the appeal of supermarkets and hypermarkets among consumers.

Market Share by Region

North America occupies a sizeable portion of the global ready meals market share due to the fast-paced life in urban areas, which fuels the demand for prepacked and processed foods. The robust popularity of vegan, gluten-free, and organic diets among consumers due to the rising trend of health and wellness also offers lucrative growth opportunities to the market. Furthermore, innovative measures by players such as the incorporation of new flavours and eco-friendly packaging solutions to gain a competitive edge provide a positive outlook for the market expansion.

Competitive Landscape

Nestle S.A., incorporated in 1866, is a food and drink processing corporation, with its headquarters in Vevey, Switzerland. The company focuses on providing a balanced and sustainable diet to its consumers by incorporating fibres, proteins, and whole grains in its products.

Mars, Incorporated, founded in 1911, is one of the major providers of confectionery and pet food items. The company, based in Virginia, the United States, focuses on delivering superior quality food products to its consumers.

General Mills Inc., established in 1856 and headquartered in Minnesota, the United States, is a manufacturer of processed consumer food products. The company includes brands such as Pillsbury, Betty Crocker, Nature Valley, and Häagen-Dazs, among others.

Other ready meals market players include Dr. August Oetker Nahrungsmittel KG, Tyson Foods, Inc., Conagra Brands, Inc., Hormel Foods, LLC, McCain Foods Ltd., Nomad Foods, and Boparan Holdings Limited, among others.

Key Highlights of the Report