The adoption of dinner Ready-to-Eat (RTE) food is expected to increase at a CAGR of 6.00% during the forecast period. The dinner ready-to-eat (RTE) food market size is anticipated to rise from USD 14,692 million in 2023 to USD 25,184.3 million in 2033.
Globally, the demand for convenient and ready-to-eat food is increasing at a faster rate as a result of changes in social and economic patterns, increased expenditure on food and beverage, increased awareness about nutritious foods, changes in dietary practices and existing food habits, and a desire to try new products.
Earlier, people used to eat at home and avoid eating out, but over the last two decades, there have been many lifestyle changes. An increase in working women, urbanization and hectic work schedule gravitate them toward dinner ready-to-eat foods.
Consumer interest in new and trendy products is increasing as they are keen on experiencing meals from other ethnicities, such as Indian, Thai, and Italian, in addition to traditional cuisine.
To achieve operational efficiency, manufacturers are emphasizing the incorporation of sustainable solutions. 3D printing, for example, is being promoted as a highly profitable option. Although still in its early stages, 3D-printed food is likely to become more popular on a wide scale.
High availability and introduction of various dinner Ready-to-Eat (RTE) food varieties through retail and online channels are likely to influence the market demand as consumers can widely select and incorporate various available cuisines into their diets.
| Attribute | Details |
|---|---|
| Dinner Ready-to-Eat (RTE) Food Market Estimated Size (2023) | USD 14,692 million |
| Dinner Ready-to-Eat (RTE) Food Market CAGR (2023 to 2033) | 6.0% |
| Dinner Ready-to-Eat (RTE) Food Market Forecasted Size (2033) | USD 25,184.3 million |
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According to FMI, the global dinner ready-to-eat (RTE) food market witnessed a substantial growth of 2.1% between the analysis period of 2018 to 2022. The growth of the market was unevenly distributed across various regions due to various socio-economic differences as highly developed countries had a more mature market compared to the developing ones.
Nevertheless, it is anticipated that between the period of 2023 to 2033, the market to witness a progressive growth of 6.0% and accounting a revenue share of USD 25,184.3 million by 2033.
Along with rapid urbanization, the thriving food and beverage sector is one of the key drivers of the global dinner ready-to-eat food market. Global consumption of ready-to-eat food has increased as a result of a growing working population and improved consumer lifestyles.
There are various types of ready-to-eat food available, ranging from pre-packaged meals to frozen pizzas to takeout containers. While most people associate the term ready-to-eat with unhealthy options, there are many healthy options available as well. Indeed, some stores are now specializing in healthy ready-to-eat meals that can be consumed on the go.
Growing Use of 3D Printing Technologies
The food and beverage industry is embracing additive manufacturing, and food 3D printing is expected to become a significant manufacturing method in the coming years. Natural Machines' Foodini and Biozoon 3D food printers can combine food ingredients to create Smooth Food, a nutritious puree.
According to research from Maastricht University in the Netherlands, 3D-printed meat can reduce greenhouse gas emissions by more than 90% while using only 1% of the land, 4% of the water, and 45% of the energy. As a result of these trends, the dinner ready-to-eat food market is expected to grow.
The Increasing Use of High-Pressure Processing (HPP) Technology in the Food Industry
Consumers prefer minimally processed ready-to-eat meals with a long shelf life and few or no preservatives, but without sacrificing sensory quality. High-Pressure Processing (HPP) technology holds a lot of promise as a non-thermal preservation solution for RTE meals.
HPP ready-to-eat foods are expected to gain popularity in 2022. For instance, in 2019, B.fresh successfully launched a plant-based HPP bircher bowl, in which oats are blended with apples or berries and other vegetables to create an RTE breakfast to go.
Frozen Food's Impact
Frozen dinners, which are becoming increasingly popular, accounted for nearly one-third of sales of dinner ready-to-eat food in 2019. The lucrativeness is likely to continue, fueled by the growing need to store food in order to survive the COVID-19 pandemic.
Since frozen foods have a long shelf life, demand for them is growing. As consumers seek to reduce uncertainty, frozen has emerged as a viable option. As a result of these preferences, the category in the dinner RTE market is expanding.
With a Progressing Rate of 6.4%, the Ready Meals Segment is the Front-runner in the Global Market
Consumer demand for ready meals has significantly boosted the growth of the dinner ready-to-eat food industry. The increase in the working population, as well as the decrease in cooking time, has had a positive impact. With the rise of the millennial generation and widespread acceptance of ready-to-eat foods, they prefer ready meals because they save time in the kitchen. Leading manufacturers are implementing modern approaches such as new product releases and expanding production capacity to better serve their customers and meet their growing expectations.
In 2022, the supermarkets & hypermarkets segment accounted for 42.3% of the dinner ready-to-eat food market. The easy availability of various brands of ready-to-eat foods in one location is driving the growth of the dinner ready-to-eat food market. Supermarkets sell frozen foods at low prices to expand their customer base.
Over the forecast period, the online distribution channel is expected to register swiftly with a CAGR of 6.6%. Pre-packaged meal brands have seen an increase in overall demand via online platforms. Online delivery is being offered by leading supermarkets and hypermarkets such as Walmart, Target, and Aldi, which is driving the segment growth. Many supermarkets have launched their own packaged meal brands or collaborated with cloud kitchens to do so.
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With its huge market share of 9.3%, technological innovations, busy lifestyles, and high disposable incomes, the United States leads the ready-to-eat food market in North America as well as globally. Because of its growing popularity among working-class consumers and students, it is expected to become a key consumer of ready-to-eat meals. According to a study published in BioMed Central Ltd, nearly 36% of adults in the United States reported eating ready-to-eat meals in 2020.
Rising demand for frozen food and handheld breakfast is driving Japan dinner ready-to-eat food market. These items are marketed as inexpensive, high-quality, and fresh.
Furthermore, these meals are just as popular as those found in restaurants and other eating establishments. Consumer perception of ready meals is steadily improving, with convenience and quick cooking times appealing to Japanese consumers.
The Indian food industry is rapidly expanding and profitable. Its role in the global food trade is rapidly expanding. India has the world's sixth-leading food and grocery market. In India, the food processing industry accounts for only 32% of the total food supply and ranks fifth in terms of production, consumption, export, and expected growth. It accounts for around 8.10% to 8.39% of India's GVA in manufacturing and agriculture, 13% of exports, and 6% of total industrial investment.
Rising urbanization increased middle-class disposable income, and changing Indian consumer food habits all contribute to the market's expected growth.
The global dinner ready-to-eat food market is highly competitive, with key players operating in the market. Manufacturers have developed powerful competitive strategies as a result of high industrial profitability, intensifying competition among existing market players. To stay competitive in the market, prominent market players are investing in product innovation, product launches, mergers and acquisitions, geographic expansion, and other initiatives. To gain a competitive advantage in the market, companies position their products based on a variety of factors such as product offerings, quality, taste, flavors, price, functionality, size, packaging, and marketing activities. ?
Some Key Players Operating in the Market Include:
Latest Developments
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.0% from 2022 to 2032 |
| Base Year of Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and Volume in Units and F-CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis |
| Key Segments Covered | By Product Type, By Distribution Channel, By Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; The Middle East & Africa; Oceania |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, Italy, France, The United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled | Arla Foods, Inc.; BioGaia AB; Chr. Hansen Holding A/S; Danone; Danisco A/S; General Mills Inc.; i-Health Inc.; Lallemand Inc.; Lifeway Foods, Inc.; Mother Dairy Fruit & Vegetable Pvt. Ltd.; Kerry; Nestle S.A.; Probi; Yakult Honsha Co., Ltd. |
| Customization & Pricing | Available upon Request |
The market is valued at USD 14,692 million in 2023.
Arla Foods, Inc., BioGaia AB, and Chr. Hansen Holding A/S are the key market players.
Ready meals are likely to remain preferred through 2033.
The market is anticipated to register a 6% CAGR through 2033.
By 2033, the market is estimated to reach USD 25,184.3 million.
| Estimated Industry Size (2024E) | USD 1,835.8 million |
|---|---|
| Projected Industry Value (2034F) | USD 3,679.4 million |
| Value-based CAGR (2024 to 2034) | 7.2% |
| Market Value (2023) | USD 591.5 million |
|---|---|
| Market Anticipated Value (2033) | USD 1,138.8 million |
| Projected Growth Rate (2032) | 7.2% |
| Estimated Value (2032) | USD 30.9 Billion |
|---|---|
| Value-based CAGR | 11% |
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