Ready Meals Market: Overview
The ready meals market is anticipated to observe substantial growth during the forecast period of 2021-2031. The rising popularity of ready-to-eat food has augmented the demand for ready meals to a great extent. Thus, this aspect will bring substantial growth for the ready meals market.
Due to rapid urbanization and industrialization, the life of working professionals has become very busy. The busy lifestyle is leading to less time for preparing food. Owing to this aspect instant foods and ready-to-eat food items are hitting the shelves. The rising requirement for instant food among a large chunk of the global populace will prove to be the growth booster for the ready meals market. Furthermore, the need for a variety of foods that ca be cooked in no time is boosting the demand for gluten-free products. These factors bode well for the growth of the ready meals market.
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Ready meals are gaining immense popularity due to their portability and convenience. These ready meals are available in attractive packaging and can be stored longer. The ready meals market can be segmented into frozen, chilled, freeze-dried, and canned ready meals. Hypermarkets, convenience stores, online, D2C, supermarkets, and others are important distribution channels across the ready meals market.
The report on the ready meals market by the team at Transparency Market Research (TMR) has various points and factors that make the stakeholder aware of the existing competitive scenario. Furthermore, the report includes the demographic landscape, industrial insights, and the latest trends that prove to be of great help to the CXOs and stakeholders. The COVID-19 pandemic effect has also been included in the report.
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Ready Meals Market: Competitive Landscape
The ready meals market is highly competitive. A large number of players are engaged in cut-throat competition for gaining a huge consumer base. The players are investing in research and development activities for gaining maximum revenue share by developing various formulations. These formulations help in boosting the revenues of the players, eventually increasing the growth rate of the ready meals market. The players are blending nutrition in the ready meals which offer health benefits with instant preparation.
The key player in the ready meals market is collaborating with mergers, acquisitions, joint ventures, and startups. These activities help in expanding the market presence of the players in the ready meals market,
Some well-established players in the ready meals market are Unilever PLC, McCain Foods Limited, Nomad Foods Group, Conagra Brands, Inc., and Nestle SA.
Ready Meals Market: Key Trends
Adoption of Organic Meal Patterns to Bring Considerable Growth Opportunities
Rising disposable income of many consumers around the world coupled with an increase in the adoption of organic dietary patterns is expected to bring lucrative growth opportunities during the forecast period. Furthermore, the growing popularity of ready meals with nutritional benefits will add to the growth opportunities. All these aspects will bring extensive growth for the ready meals market.
Ready meals are being combined with nutrition by various market entrants.. The rising awareness about health and food safety concerns has led to the increasing use of organic ready meals. . The use of natural products in the ready meals that could suffice the hunger of individuals in a healthy way is likely to open new avenues for ready meals market. Thus, the health-based ready meals cater to the requirement of the health-conscious population.
During the advent of the COVID-19 pandemic, the popularity of ready meals increased due to the closure of restaurants owing to the restriction imposed to control the spread of the virus. The online market for ready meals gained immense growth due to the overwhelming demand for varieties of ready meals on the virtual platform.
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Ready Meals Market: Regional Dimensions
The Asia Pacific region is expected to attract robust growth for the ready meals market during the forecast period. The presence of a large consumer base of ready meals in countries like Japan, China, Indonesia, etc. coupled with changing preferences for food will create multiple growth opportunities for the ready meals market. The ready meals market in Europe is gaining traction due to the popularity of frozen, canned, and dried ready meals. The launch of plant-based ready meals is getting popular owing to its healthy contents.
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