The global frozen ready meals market recorded sales of USD 42,232.0 million in 2023. The market experienced a 4.9% year-on-year growth and is anticipated to achieve revenue of USD 44,318.9 million in 2024. Over the assessment period from 2024 to 2034, the global market is projected to expand at a compound annual growth rate (CAGR) of 5.1%, resulting in a market size of USD 73,016.9 million by the end of 2033.
Millennials and Gen Z have pushed consumer preferences strongly toward healthier and more diverse food options. Frozen meals for these younger generations come in convenience, and additionally- some nutrition. This has led to brands like Saffola and Tata Q releasing frozen meals supplemented with necessary vitamins and minerals horse of the health-conscious demographic.
For instance, the brand produces meals with Omega-3 fatty acids for ease and meals high in fiber to try so that those who feel like their diet is unbalanced will find a solution. Additionally, growing urbanization is also increasing the popularity of plant-based diets among consumers.
As a result, Veggie Champ amongst others has capitalized on this trend by providing different kinds of veg & vegan frozen meals targeted towards consumers looking to cut down their meat intake for health or moral reasons.
| Attributes | Description |
|---|---|
| Estimated Global Frozen Ready Meals Industry Size (2024E) | USD 44,318.9 million |
| Projected Global Frozen Ready Meals Industry Value (2034F) | USD 73,016.9 million |
| Value-based CAGR (2024 to 2034) | 5.1% |
The e-commerce platforms have given a new dimension to the ready meals industry and now customers can easily order from a wide variety of products. With lives becoming busier, people are increasingly turning to online grocery stores such as BigBasket and Blinkit which offer a wide variety of frozen meals that can be easily home-delivered.
To meet environmental demands, manufacturers are turning toward earth-friendly packaging options. Companies choose biodegradable or recyclable packing materials not only to less wastage but also to attract eco-conscious customers who expect sustainability from their indulgence.
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The below table presents a comparative assessment of the variation in CAGR over six months for the base year (2023) and current year (2024) for the global frozen ready meals market.
This analysis reveals crucial shifts in performance and indicates revenue realization patterns, thus providing stakeholders with a better vision of the growth trajectory over the year. The first half of the year, or H1, spans from January to June. The second half, H2, includes the months from July to December.
| Particular | Value CAGR |
|---|---|
| H1 | 4.1% (2023 to 2033) |
| H2 | 4.6% (2023 to 2033) |
| H1 | 4.9% (2024 to 2034) |
| H2 | 5.1% (2024 to 2034) |
In the first half (H1) of the decade from 2024 to 2034, the business is predicted to surge at a CAGR of 4.1%, followed by a higher growth rate of 4.6% in the second half (H2) of the same decade.
Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to increase to 4.9% in the first half and remain considerably high at 5.1% in the second half. In the first half (H1) the sector witnessed an increase of 30 BPS while in the second half (H2), the business witnessed a decrease of 20 BPS.
Offering Meals from Solo Servings to Family Feasts
Individual servings are growing in popularity especially amongst people living alone or in smaller households because they allow convenience as well as portion control. In line with this trend, Lean Cuisine has several single-serve dishes that cater to various dietary requirements such as low-calorie or high-protein menus.
These are designed to be quickly prepared, often taking only a few minutes in the microwave and they are ideal for busy professionals and students who want fast meal solutions. On the other hand, there is an emerging segment for larger frozen meals that can accommodate several people at once.
So, family-sized portions have been introduced by companies like Stouffer’s and Birds Eye which suit individuals looking to enjoy meals together. For example, among its range of hearty, and comforting dishes, Stouffer’s sells a family-size lasagna which is also accompanied by a line of macaroni and cheese.
Families who prefer home-cooked meals but without being in the kitchen over long periods, thus find these products very convenient. Both single-serving and family-size options satisfy different needs within their consumer group effectively.
Smart, Convenient, and Microwave-Ready Meals on the Go
Companies such as Nestlé and Conagra Brands are making it easier for consumers to heat their food in a microwave by developing packages that are designed specifically for this purpose. For example, the Lean Cuisine line of Nestlé’s offers its frozen foods in trays which can be put in a microwave and ensure that all sides of a meal get heated up uniformly while preserving texture and taste.
This has made fast food easier for those who do not have enough time. Simultaneously, there is a growing interest among people to purchase products with QR codes or smart tags which provide detailed dietary information, and cooking directions in addition to recipe suggestions.
The physical covers on Birds Eye’s packs incorporate QR codes that display ingredients, nutritional data, and other garnishes when activated. Consequently, these labels foster informed choices whilst enhancing convenience during eating experiences at home. Furthermore, they may also monitor the freshness of various goods or alert if an item has been kept incorrectly thus ensuring food security.
Allergen-Free Meals: Catering to Sensitive Consumers
Nowadays, companies pay attention to manufacturing allergen-free meals that do not contain such common allergens as gluten contained in wheat flour, dairy used for milk products, nuts like peanuts, or soybeans that substitute animal proteins. Enjoy Life Foods is another company that produces various items without using any top eight contaminated parts so that anyone with dietary restrictions feels safe while consuming them.
In a related vein, Amy’s Kitchen presents gluten- and dairy-free macaroni cheese alternatives and enchiladas, which target celiac victims and lactose-intolerant individuals, respectively. These options are safe, while still retaining the original taste and have nutrients intact meaning they are likely to attract more customers.
Hence, companies that invest in allergen-free products target a small but growing market segment and hence achieve inclusivity as well as expand their client base.
Principal Consultant
Global sales increased at a CAGR of 4.6% from 2019 to 2023. For the next ten years (2024 to 2034), projections are that expenditure on such products will rise at 5.1% CAGR.
This sector has seen substantial growth from 2019 to 2023, driven by several factors. This was due to the increase in consumer demand for convenience across the categories throughout the period, thus necessitating an increment of products in this sector.
Urbanization is another factor that drives this trend since men and women who are living in cities or towns with many of them working away from home are turning to fast foods because they do not have time to prepare meals at home. Moreover, improved methods of preservation and packaging have been introduced into storage systems to maintain flavor and quality after long periods making consumers rise with confidence and want it even more.
In addition, regulations supporting frozen food production protocols as well as ensuring its safety have fostered expansion into new territories.
From 2024 to 2034, the industry is projected to maintain its upward trajectory thanks to several emerging trends and developments. The expansion of e-commerce platforms and meal delivery services that are subscription-based is one significant factor.
Blue Apron and Daily Harvest, for example, are some of the companies offering curated meal plans that suit customers’ dietary habits and lifestyle needs through diverse deliveries. Therefore, this convenience would draw in more clients including people who care about their health as well as those with particular diet preferences.
This has led to an increase in consumption of frozen foods due to the rise in remote working where people opt for quick freezing lunch options when working from home. Also, frozen meals integrate easily into food delivery systems which means lots of choices can be accessed by consumers without them necessarily going out of their houses.
In tier 1 of the frozen ready meals industry, there are global giants with a broad range of products and huge market shares. These firms possess strong brand recognition, advanced production facilities, and immense distribution channels. For instance, Nestlé, Conagra Brands as well as McCain Foods.
Based on brands such as Lean Cuisine and Stouffer’s, Nestlé provides an assortment of frozen meals to cater to different dietary choices. On the other hand, Conagra Brands concentrates on providing healthy and convenient meal solutions through Healthy Choice and Marie Callender’s labels while McCain Foods is a leading player in the frozen potato products industry that also offers various types of ready meals.
Research and development call for substantial investments from these entities to foster innovation that meets consumers’ changing needs.
Tier 2 consists of companies that have established themselves in certain territories but they do not have an international presence like those from Tier 1. They tend to focus on local tastes by offering products that blend with regional cultures.
Some examples include ITC in India which has a collection of such products under its Kitchens of India brand or Nomad Foods based in Europe where brands such as Birds Eye and Findus are common.
By understanding the local areas better than others do, these firms manage to come up with product categories that suit their region best, besides investing more in marketing and distribution activities, thus becoming strong players within their respective regions.
The third category is composed of specialty or upcoming firms that deal with peculiar diets or unique product lines. Such organizations specialize in healthy living-conscious people who normally go for foods free from allergens or organic ones being consumed by specific customer groups. Examples can include Amy’s Kitchen offering organic vegetarian frozen meals or Veggie Champ which supplies plant-based frozen products among others.
There is usually smaller scale production involved, and the distribution networks are also limited compared to tier 1 and 2 companies. Yet, they are fast in responding to industry changes as they lead through innovation as well as targeting small groups of consumers.
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The following table shows the estimated growth rates of the top three territories. China and Australia are set to exhibit high consumption, recording CAGRs of 4.7% and 7.0%, respectively, through 2034.
| Countries | CAGR 2024 to 2034 |
|---|---|
| USA | 2.9% |
| Germany | 1.7% |
| China | 4.7% |
| Australia | 7.0% |
| India | 5.0% |
The need for quick lunches due to the increase in remote working has heightened the demand for frozen meals. Additionally, supportive regulations and quality standards have boosted consumer confidence, thereby increasing the market size of frozen food. Likewise, cultural perceptions of frozen foods have changed leading to new segments being created.
Amy’s Kitchen is an example of a brand that has taken advantage of this trend by offering organic vegetarian frozen meals hence can be consumed by people who previously perceived such products negatively because they thought that these products were unhealthy options.
The inclusion of frozen meals into food delivery systems further facilitated customers’ access to diverse options from their homes without physical movements. For instance, Blue Apron and Freshly deliver ready-to-cook meals that include some sections on frozen products hence making it easier for clients to choose from diverse options.
The German industry for frozen-ready meals has grown rapidly due to several distinctive reasons. One important catalyst is the increasing request among busy urban professionals for high-quality, convenient meal solutions. The rise in one-person households also contributes, as people look for quick and easy meal options.
Moreover, Germany’s strong economy and high disposable incomes have allowed consumers to buy more expensive pre-packaged frozen food. Manufacturers are responding by offering gourmet and artisanal options such as Frosta’s organic and sustainably sourced meals.
With the growth of plant-based dieting, there has been an influx of vegetarian or vegan frozen meals that cater to an expanding population of health-conscious individuals. Moreover, creative product promotion ideas like partnering with celebrity chefs and social media influencers have significantly added value to the attractiveness and visibility of Frozen Ready Meals in Germany.
The growing middle class with higher disposable incomes is also willing to spend more on premium and different frozen meal options. In addition, modern retailing formats like supermarkets and hypermarkets have made such products easily accessible to a wider audience.
The consumer preference is for ready-to-eat meals with genuine Indian spices, prompting brands such as ITC and MTR Foods to diversify their product lines. Furthermore, the increasing adoption of Western dietary habits and the growing popularity of QSRs continue to drive this sector. Besides, improvements in cold chain logistics and storage infrastructure have resulted in better distribution and availability of frozen meals across the nation.
| Segment | Vegetarian Meals (By Product Type) |
|---|---|
| Value Share (2024) | 20.6% |
More people are choosing plant-based options, whether for health, environmental concerns, or simply a desire to try something new. This shift has opened the door for manufacturers to get creative, crafting meals that are not only meat-free but packed with bold flavours and satisfying ingredients like quinoa, lentils, and hearty vegetables.
The rise of flexitarians, where people prefer vegetarian meals to their routine without going fully meat-free, has also fuelled demand. Brands are responding by offering a variety of globally inspired dishes that bring the taste of different cultures into the home.
Additionally, with sustainability in mind, companies are focusing on eco-friendly packaging and transparent labelling, appealing to the growing number of consumers who care about what they eat and how it’s made.
| Segment | Food Chain Services (By Distribution Channel) |
|---|---|
| Value Share (2024) | 35.4% |
Frozen meals are becoming a staple in food service chains, driven by a mix of practical needs and evolving consumer desires. With the ongoing challenges of staffing shortages and the push to keep costs in check, food service operators are finding that frozen meals offer a consistent, high-quality solution that simplifies kitchen operations.
Consumers, too, are playing a big role in this shift as they are constantly looking for quick, tasty meals that can be enjoyed on the go or delivered straight to their doorsteps. Food service chains are responding by incorporating a wider range of frozen options into their menus, often working closely with manufacturers to create dishes that resonate with modern tastes and dietary preferences.
The landscape of the frozen ready meals industry is highly competitive, dominated by key players such as Conagra Brands, Nestlé, Tyson Foods, etc. Differentiation through unique flavours and premium ingredients is another way to gain a competitive edge over others. Also, there are a lot of strategic acquisitions and partnerships, whereby firms can enlarge their product category portfolios, thus widening their customer bases.
Another strategy is innovation in packaging technology, whereby manufacturers must embrace sustainable and convenient packing materials targeted at eco-friendly consumers. Price competitiveness cannot be overlooked since companies provide value packs including discounts which attract customers who are sensitive towards prices.
Furthermore, using digital platforms for direct-to-consumer sales, hence creating brand relevance with clients via social media campaigns contributes significantly towards building a strong brand presence online. These strategies collectively enhance market share and drive sales growth in the competitive frozen-ready meals industry.
For instance
As per product type, the industry has been categorized into Vegetarian Meals, Chicken Meals, Beef Meals, and Other Meals.
As per distribution channel, the industry has been categorized into Food Chain Services, Modern Trade, Departmental Stores, Online Stores, and Other Distribution Channel.
This segment is further categorized into Aluminium Can, Plastic, and Glass.
Industry analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.
The global industry is estimated at a value of USD 44,318.9 million in 2024.
Sales increased at 4.6% CAGR between 2019 and 2023.
Some of the leaders in this industry include General Mills, Nestle S.A., McCain Foods Ltd., Dr. Oetker GmbH, Daiya Foods Inc., Connies Pizza, Conagra Brands, Inc., Atkins Nutritionals, Inc., and California Pizza Kitchen.
The European territory is projected to hold a revenue share of 29.7% over the forecast period.
The industry is projected to grow at a forecast CAGR of 5.1% from 2024 to 2034.
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Frozen Ready Meals Market
