Ready-to-eat food is a ready-to-eat meal that is convenient to eat since it saves time and effort. These foods are classed as canned, frozen, or retort and have a prolonged shelf life. They can be found in convenience/departmental stores, hypermarkets/supermarkets, and specialty stores.
Drivers:
The global desire for convenience food is essentially driving the expansion of the ready-to-eat food business. This is due to the consumer's hectic lifestyle, as well as the growing number of working women around the world. Furthermore, rising consumer disposable income, which encourages consumers to spend on convenience food, is likely to boost ready-to-eat food market growth over the forecast period.
Rapid urbanization and improving consumer lifestyles are expected to propel the Ready to Eat Food Market sector forward. Furthermore, the rise of the food processing industry is contributing to the growth of the ready-to-eat food market. Over the forecast period, the market expansion of ready-to-eat food is predicted to be fueled by the increasing penetration of various food manufacturers in the industry.
Statistics:
In terms of value, North America dominated the global ready-to-eat food market in 2019, with a 40.2 percent share, followed by APEJ and Western Europe, respectively.
Key Takeaways/Market Trends
Frozen and chilled foods, such as frozen pizza and meals, are becoming increasingly popular around the world. This is projected to help the ready-to-eat food sector flourish. Furthermore, rising canned meal consumption, combined with rising demand for dried products such as instant pasta and noodles, is expected to boost market growth throughout the forecast period.
Due to their taste and convenience, ready-to-eat food products have become a meal replacement trend among the young population. This is projected to boost the ready-to-eat market's growth. Furthermore, advancements in freezing technology, combined with an increase in the number of consumers visiting quick-service restaurants and mom-and-pop stores, are expected to boost ready-to-eat snack market growth in the near future.
Rapid urbanization and improving consumer lifestyles are expected to propel the Ready to Eat Food Market sector forward. Furthermore, the rise of the food processing industry is contributing to the growth of the ready-to-eat food market. Over the forecast period, the market expansion of ready-to-eat food is predicted to be fueled by the increasing penetration of various food manufacturers in the industry.
Statistics:
In terms of value, North America dominated the global ready-to-eat food market in 2019, with a 40.2 percent share, followed by APEJ and Western Europe, respectively.
Key Takeaways/Market Trends
Frozen and chilled foods, such as frozen pizza and meals, are becoming increasingly popular around the world. This is projected to help the ready-to-eat food sector flourish. Furthermore, rising canned meal consumption, combined with rising demand for dried products such as instant pasta and noodles, is expected to boost market growth throughout the forecast period.
Due to their taste and convenience, ready-to-eat food products have become a meal replacement trend among the young population. This is projected to boost the ready-to-eat market's growth. Furthermore, advancements in freezing technology, combined with an increase in the number of consumers visiting quick-service restaurants and mom-and-pop stores, are expected to boost ready-to-eat snack market growth in the near future.
0 Comments