The global ready-to-eat food market is expected to reach USD 195.9 billion in 2024 and USD 391.1 billion by 2034. By 2034, the market is projected to rise at a 9.2% CAGR.
| Attributes | Key Insights |
|---|---|
| Estimated Global Ready-to-eat Food Market Size (2024E) | USD 195.9 billion |
| Projected Ready-to-eat Food Market Value (2034F) | USD 391.1 billion |
| Value-based CAGR (2024 to 2034) | 9.2% |
Growing consumer desire for long-lasting, minimally processed, additive-free food items is anticipated to drive market expansion. Consumers are gravitating toward meals that are easy to prepare. Due to their busy work schedules, people all around the world are purchasing ready-to-eat (RTE) food items and meals.
Rising busy lifestyles, working-class individuals, teenagers, hostel residents, and single people are expected to push the demand for ready-to-eat food. The flavor and convenience of ready-to-eat food products have led to a trend among young people to replace traditional meals with ready-to-eat meals. This is anticipated to drive the market's expansion.
The food service industry, including hotels, restaurants, cafes, and bakeries, plays a significant role in driving the growth of the ready-to-eat food market. These establishments cater to the increasing consumer preference for convenient and on-the-go food options.
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Ready-to-eat food sales grew at a CAGR of 7.1% from 2019 to 2023. By 2034, the worldwide market for ready-to-eat food is expected to surge at a 9.2% CAGR.
The consumer convenience factor was a key driver of market growth from 2019 to 2023. Consumers with busy lifestyles were gravitating toward ready-to-eat options as a quick and hassle-free meal solution. This era witnessed a wave of innovation in the RTE market.
The demand for frozen, prepared foods increased rapidly. These meals catered to consumers' desire for nutritious and balanced options, offering convenience and a quality dining experience.The demand for healthy, natural, and customized foods without sacrificing health goals or ingredients is increasing. Working professionals are ready to spend money on convenience food without compromising their health.
This trend is creating a market and client base for the high-end convenience and ready-to-eat food market. Wide Array of RTE products are available in the market, including instant breakfast & cereals, bakery & confectionery products, and meat products.
Further, ready-to-eat vegetables and salads are becoming highly popular in emerging countries due to the convenience of consumption, good taste, and growing awareness of the health benefits of vegetables.
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The below table shows the estimated growth rates of the top four countries. The United States, India, and China are set to record high CAGRs of 6.5%, 6.9%, and 7.3%, respectively, through 2034.
| Countries | CAGR |
|---|---|
| United States | 6.5% |
| Germany | 5.3% |
| India | 6.9% |
| China | 7.3% |
The United States is expected to surge at a CAGR of 6.5% by 2034. The United States’ market growth is attributed to the country's increasing consumption of ready-to-eat foods, including frozen products especially frozen pizza.
The affordability of ready-to-eat foods, combined with their quality and freshness, drives the growth of the market in the United States. Increasing reliance on ready-to-eat meals among the working population is expected to promote regional market growth. The trend toward health-conscious lives is increasing the demand for healthy, fast food alternatives are driving sales market growth.
India’s ready-to-eat food sales are anticipated to expand at an impressive 6.9% CAGR, demonstrating the nation's robust demand for quick & easy food options and its promising future. With leading working populations in the world and rising disposable income, the ready-to-eat food market in India is gaining traction.
Less time for cooking and food preparation due to the rising urban working cultures and fast-paced lifestyles is fueling market expansion. Several food items, such as world cuisines, snacks, and traditional Chinese foods and Soups make up India’s ready-to-eat food market. This diversity caters to the population's varying interests and preferences.
Through 2034, China is projected to expand at a CAGR of 7.3%, driven by the following factors:
The below section shows the dairy products segment dominating by product type. It is predicted to hold a market share of 15.7% in 2024. Based on sales channel, the food service segment is anticipated to generate a dominant share through 2024. It is set to hold a share of 35% in 2024.
| Segment | Market Share (2024) |
|---|---|
| Dairy Products (Product Type) | 15.7% |
| Food Service (Sales Channel) | 35% |
The dairy products segment is projected to hold a market share of 15.7% in 2024. Ready-to-eat milk-based options such as cheese, yogurt, paneer, and milk-based desserts offer convenience, nutritional value, and appeal to a wide range of consumer base.
Innovations in preservation and packaging technologies are extending the shelf life of dairy products, increasing their appeal to end-users seeking portable meal solutions. Ready-to-eat dairy-based meals for children are specially formulated to meet the nutritional needs of growing kids.
Innovative meals are designed to be easily consumed without additional preparation, making them a time-saving option for busy parents. The demand for dairy products in the ready-to-eat food market is expected to remain high, driven by consumer preferences for convenient and nutritious options.
The food service sector is the core of the ready-to-eat food market, and is expected to hold a significant share of 35% in 2024. The food service industry caters to diverse consumer needs, including restaurants, hotels, cafes, bakeries & patisseries, and quick service restaurants. The efficiency and convenience of pre-made meals fit the fast-paced food service industry perfectly, contributing to its dominance.
The food service industry is also offering ready-to-eat options on its menus as the trend of ordering in or dining out continues to gain traction. Ready-to-eat products' flexibility to fit different dietary needs and cuisines further solidifies their dominance in the market and positions them as a key factor in the sector's expansion.
The ready-to-eat food market is fragmented due to several international and domestic companies. Leading manufacturers are focusing on product innovation to meet the emerging health choices of consumers around the world. Key companies are directing toward strategies such as partnerships, innovation, online advertising campaigns, and new product developments to expand their product portfolios and customer bases.
Recent Developments
The market is set to reach USD 195.9 billion in 2024.
Demand for ready-to-eat food is slated to expand at a 9.2% CAGR by 2034.
The market is expected to reach USD 391.1 billion in 2034.
Nestlé, Dr. Oetker, and Campbell Soup Company are the key players.
Dairy product segment is estimated to hold a market share of 15.7% in 2024.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition
3. Market Background
3.1. Drivers
3.1.1. Supply Side Drivers
3.1.2. Demand Side Drivers
3.1.3. Economic Side Drivers
3.2. Restraints
3.3. Opportunity
3.4. Market trends By Region
3.5. Forecast Factors - Relevance and Impact
3.6. Regulations and Policies
4. Global Market- Pricing Analysis
4.1. Price Point Assessment by Region
4.1.1. Manufacturer Level Pricing
4.1.2. Distributor Level Pricing
4.1.3. Retail Level Pricing
4.2. Price Point Assessment By Product Type
4.3. Price Forecast till 2034
5. Value Chain Analysis
5.1. Operating margins at each node of supply chain
5.2. List of Active Market Participants
6. Global Market Size in Value (US$ billion) and Volume (Unit) Analysis 2019 to 2023 and Forecast, 2024 to 2034
6.1. Historical Market Size in Value (US$ billion) and Volume (Unit) Analysis, 2019 to 2023
6.2. Current and Future Market Size in Value (US$ billion) and Volume (Unit) Analysis, 2024 to 2034
6.2.1. Y-o-Y Growth Trend Analysis
6.2.2. Absolute $ Opportunity Analysis
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type
7.1. Introduction / Key Findings
7.2. Historical Market Size in Value (US$ billion) and Volume (Unit) Analysis By Product Type, 2019 to 2023
7.3. Current and Future Market Size in Value (US$ billion) and Volume (Unit) Analysis and Forecast By Product Type, 2024 to 2034
7.3.1. Instant Breakfast/Cereals
7.3.2. Bakery and Confectionary
7.3.3. Meat and Poultry
7.3.4. Frozen Pizza
7.3.5. Pasta and Noodles
7.3.6. Dairy Products
7.3.7. Savory Snacks
7.3.8. Prepared Salads
7.4. Market Attractiveness Analysis By Product Type
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Sales Channel
8.1. Introduction / Key Findings
8.2. Historical Market Size in Value (US$ billion) and Volume (Unit) Analysis By Sales Channel, 2019 to 2023
8.3. Current and Future Market Size in Value (US$ billion) and Volume (Unit) Analysis and Forecast By Sales Channel, 2024 to 2034
8.3.1. Food Service
8.3.1.1. Hotel, Restaurant, Cafes
8.3.1.2. Bakeries and Patisseries
8.3.1.3. Quick Service Restaurants (Sandwicheries, Fast Casual, Coffee Shops)
8.3.2. Airport Retail
8.3.3. Travel Retail
8.3.4. Retail
8.3.4.1. Hypermarket/Supermarket
8.3.4.2. Convenience Stores
8.3.4.3. Departmental Stores
8.3.4.4. Wholesale Stores
8.3.4.5. Mass Grocery Retailers
8.3.4.6. Specialty Stores
8.3.5. Online
8.4. Market Attractiveness Analysis By Sales Channel
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region
9.1. Introduction
9.2. Historical Market Size in Value (US$ billion) and Volume (Unit) Analysis By Region, 2019 to 2023
9.3. Current Market Size in Value (US$ billion) and Volume (Unit) Analysis and Forecast By Region, 2024 to 2034
9.3.1. North America
9.3.2. Latin America
9.3.3. Europe
9.3.4. East Asia
9.3.5. South Asia
9.3.6. Oceania
9.3.7. Middle East and Africa
9.4. Market Attractiveness Analysis By Region
10. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034
10.1. Introduction
10.2. Historical Market Size (US$ billion) and Volume(Unit) Trend Analysis By Market Taxonomy, 2019 to 2023
10.3. Market Size (US$ billion) and Volume(Unit) Forecast By Market Taxonomy, 2024 to 2034
10.3.1. By Country
10.3.1.1. United States
10.3.1.2. Canada
10.3.2. By Product Type
10.3.3. By Sales Channel
10.4. Market Attractiveness Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Sales Channel
10.5. Key takeaways
11. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034
11.1. Introduction
11.2. Historical Market Size (US$ billion) and Volume(Unit) Trend Analysis By Market Taxonomy, 2019 to 2023
11.3. Market Size (US$ billion) and Volume (Unit) Forecast By Market Taxonomy, 2024 to 2034
11.3.1. By Country
11.3.1.1. Brazil
11.3.1.2. Mexico
11.3.1.3. Argentina
11.3.1.4. Rest of Latin America
11.3.2. By Product Type
11.3.3. By Sales Channel
11.4. Market Attractiveness Analysis
11.4.1. By Country
11.4.2. By Product Type
11.4.3. By Sales Channel
11.5. Key takeaways
12. Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034
12.1. Introduction
12.2. Historical Market Size (US$ billion) and Volume(Unit) Trend Analysis By Market Taxonomy, 2019 to 2023
12.3. Market Size (US$ billion) and Volume(Unit) Forecast By Market Taxonomy, 2024 to 2034
12.3.1. By Country
12.3.1.1. Germany
12.3.1.2. United Kingdom
12.3.1.3. France
12.3.1.4. Italy
12.3.1.5. Spain
12.3.1.6. BENELUX
12.3.1.7. Nordic
12.3.1.8. Russia
12.3.1.9. Poland
12.3.1.10. Rest of Europe
12.3.2. By Product Type
12.3.3. By Sales Channel
12.4. Market Attractiveness Analysis
12.4.1. By Country
12.4.2. By Product Type
12.4.3. By Sales Channel
12.5. Key takeaways
13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034
13.1. Introduction
13.2. Historical Market Size (US$ billion) and Volume(Unit) Trend Analysis By Market Taxonomy, 2019 to 2023
13.3. Market Size (US$ billion) and Volume(Unit) Forecast By Market Taxonomy, 2024 to 2034
13.3.1. By Country
13.3.1.1. China
13.3.1.2. Japan
13.3.1.3. South Korea
13.3.2. By Product Type
13.3.3. By Sales Channel
13.4. Market Attractiveness Analysis
13.4.1. By Country
13.4.2. By Product Type
13.4.3. By Sales Channel
13.5. Key takeaways
14. South Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034
14.1. Introduction
14.2. Historical Market Size (US$ billion) and Volume(Unit) Trend Analysis By Market Taxonomy, 2019 to 2023
14.3. Market Size (US$ billion) and Volume(Unit) Forecast By Market Taxonomy, 2024 to 2034
14.3.1. By Country
14.3.1.1. India
14.3.1.2. Thailand
14.3.1.3. Malaysia
14.3.1.4. Indonesia
14.3.1.5. Vietnam
14.3.1.6. Philippines
14.3.1.7. Singapore
14.3.1.8. Rest of South Asia
14.3.2. By Product Type
14.3.3. By Sales Channel
14.4. Market Attractiveness Analysis
14.4.1. By Country
14.4.2. By Product Type
14.4.3. By Sales Channel
14.5. Key takeaways
15. Oceania Market Analysis 2019 to 2023 and Forecast 2024 to 2034
15.1. Introduction
15.2. Historical Market Size (US$ billion) and Volume(Unit) Trend Analysis By Market Taxonomy, 2019 to 2023
15.3. Market Size (US$ billion) and Volume(Unit) Forecast By Market Taxonomy, 2024 to 2034
15.3.1. By Country
15.3.1.1. Australia
15.3.1.2. New Zealand
15.3.2. By Product Type
15.3.3. By Sales Channel
15.4. Market Attractiveness Analysis
15.4.1. By Country
15.4.2. By Product Type
15.4.3. By Sales Channel
15.5. Key takeaways
16. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034
16.1. Introduction
16.2. Historical Market Size (US$ billion) and Volume(Unit) Trend Analysis By Market Taxonomy, 2019 to 2023
16.3. Market Size (US$ billion) and Volume(Unit) Forecast By Market Taxonomy, 2024 to 2034
16.3.1. By Country
16.3.1.1. GCC Countries
16.3.1.2. Turkiye
16.3.1.3. Egypt
16.3.1.4. South Africa
16.3.1.5. Rest of Middle East and Africa
16.3.2. By Product Type
16.3.3. By Sales Channel
16.4. Market Attractiveness Analysis
16.4.1. By Country
16.4.2. By Product Type
16.4.3. By Sales Channel
16.5. Key takeaways
17. Country-level Market Analysis, 2022
17.1. United States Market Analysis
17.1.1. By Product Type
17.1.2. By Sales Channel
17.2. Canada Market Analysis
17.2.1. By Product Type
17.2.2. By Sales Channel
17.3. Brazil Market Analysis
17.3.1. By Product Type
17.3.2. By Sales Channel
17.4. Mexico Market Analysis
17.4.1. By Product Type
17.4.2. By Sales Channel
17.5. Argentina Market Analysis
17.5.1. By Product Type
17.5.2. By Sales Channel
17.6. Germany Market Analysis
17.6.1. By Product Type
17.6.2. By Sales Channel
17.7. United Kingdom Market Analysis
17.7.1. By Product Type
17.7.2. By Sales Channel
17.8. France Market Analysis
17.8.1. By Product Type
17.8.2. By Sales Channel
17.9. Italy Market Analysis
17.9.1. By Product Type
17.9.2. By Sales Channel
17.10. Spain Market Analysis
17.10.1. By Product Type
17.10.2. By Sales Channel
17.11. BENELUX Market Analysis
17.11.1. By Product Type
17.11.2. By Sales Channel
17.12. Nordic Market Analysis
17.12.1. By Product Type
17.12.2. By Sales Channel
17.13. Russia Region Market Analysis
17.13.1. By Product Type
17.13.2. By Sales Channel
17.14. Poland Market Analysis
17.14.1. By Product Type
17.14.2. By Sales Channel
17.15. China Market Analysis
17.15.1. By Product Type
17.15.2. By Sales Channel
17.16. Japan Market Analysis
17.16.1. By Product Type
17.16.2. By Sales Channel
17.17. South Korea Market Analysis
17.17.1. By Product Type
17.17.2. By Sales Channel
17.18. India Market Analysis
17.18.1. By Product Type
17.18.2. By Sales Channel
17.19. Thailand Market Analysis
17.19.1. By Product Type
17.19.2. By Sales Channel
17.20. Malaysia Market Analysis
17.20.1. By Product Type
17.20.2. By Sales Channel
17.21. Indonesia Market Analysis
17.21.1. By Product Type
17.21.2. By Sales Channel
17.22. Vietnam Market Analysis
17.22.1. By Product Type
17.22.2. By Sales Channel
17.23. Philippines Market Analysis
17.23.1. By Product Type
17.23.2. By Sales Channel
17.24. Singapore Market Analysis
17.24.1. By Product Type
17.24.2. By Sales Channel
17.25. Australia Market Analysis
17.25.1. By Product Type
17.25.2. By Sales Channel
17.26. New Zealand Market Analysis
17.26.1. By Product Type
17.26.2. By Sales Channel
17.27. GCC Countries Market Analysis
17.27.1. By Product Type
17.27.2. By Sales Channel
17.28. Turkiye Market Analysis
17.28.1. By Product Type
17.28.2. By Sales Channel
17.29. Egypt Market Analysis
17.29.1. By Product Type
17.29.2. By Sales Channel
17.30. South Africa Market Analysis
17.30.1. By Product Type
17.30.2. By Sales Channel
18. Market Structure Analysis
18.1. Global Market Competition - a Dashboard View
18.2. Industry Structure Analysis
18.3. Global Market Company Share Analysis
18.3.1. For Tier 1 Market Players, 2024
18.3.2. Company Market Share Analysis of Top Players, By Region
18.4. Key Participants Market Presence (Intensity Mapping) by Region
19. Competition Analysis
19.1. Competition Dashboard
19.2. Competition Benchmarking
19.3. Competition Deep Dive
19.3.1. DIC Corporation
19.3.1.1. Product Portfolio
19.3.1.2. Product Claim
19.3.1.3. Revenue by Market Segments
19.3.1.4. Sales Footprint
19.3.1.5. Strategy Overview
19.3.1.6. SWOT Analysis
19.3.2. Nestlé
19.3.3. Dr. Oetker
19.3.4. Campbell Soup Company
19.3.5. Nomad Foods
19.3.6. Danone
19.3.7. Vietnam Hanfimex Corporation
19.3.8. General Mills Inc.
19.3.9. California Pizza Kitchen
19.3.10. McCain Foods Ltd.
19.3.11. MTR Foods Private Limited
19.3.12. Conagra Brands, Inc.
19.3.13. Atkins Nutritionals, Inc.
19.3.14. Other Players
20. Research Methodology
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Ready-to-eat Food Market
