Ready-to-eat Food Market

Ready-to-eat Food Market Segmentation by Category

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.

2019 to 2023 Global Ready-to-eat Food Market Sales Outlook Vs. 2024 to 2034

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.

Ready-to-eat Food Market Trends

• Vegetarian and vegan ready-to-eat (RTE) foods are in high demand, catering to ethical dietary preferences and being plant-based.
• Consumers are exploring different ready-to-eat (RTE) brands to find products that align with their dietary needs and taste preferences.
• The growing number of working women is urging households to switch to ready-to-eat food to replace normal lunch and dinner.
• The surging practice of high-pressure processing (HPP) technology in the food industry is set to boost market growth.
• There is a rising demand for high-protein, ready-to-eat food products among fitness enthusiasts looking to increase their protein intake.

Ready-to-eat Food Market Opportunities

• Food supply chain companies' sales of ready-to-eat frozen convenience foods continue to be a key source of income. Convenience stores are anticipated to add more revenue share soon as they broaden their selection of frozen-ready meals and take advantage of unexplored online sales potential.
• In industrialized nations, where consumption is higher than in developing countries, ready-to-eat food is growing in terms of popularity. The old paradigm of daily cooking has gradually been abandoned due to the rising number of workers in emerging economies and the trend toward longer and more flexible working hours.
• Two of the most recent industry developments are the advent of new apps that make it simpler for customers to choose their products and do grocery shopping online. Due to its convenience and variety, online shopping is preferred by consumers.

Restraining Factors in the Ready-to-eat Food Market

• The belief that ready-to-eat or processed meals are less healthful than their fresh counterparts is key aspect to hinder the sales decision of consumers
• RTE foods contains harmful preservatives and additives to prolong shelf life and preserve flavor, which is expected to put off consumers concerned about their health. Demand for products with clear labels and no artificial additives is rising.

Country-wise Insights

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%

Increasing Reliance on Ready-to-eat Meals to Surge Demand in the United States

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.

Rising Disposable Income of Consumers in India to Uplift Market

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.

Rise of E-commerce Sector in China to Gain Traction by 2034

Through 2034, China is projected to expand at a CAGR of 7.3%, driven by the following factors:

• In China, e-commerce is a key factor in distributing ready-to-eat (RTE) food items. Customers can easily buy a range of ready-to-eat meals, snacks, and convenience goods online in China.
• Customers in China increasingly seek ready-to-eat options made with natural and healthier ingredients in line with worldwide trends. Products that fit into a healthy and nutritious lifestyle are becoming immensely popular.
• Different culinary traditions and preferences are found throughout China's large and diverse areas. RTE food producers are set to modify their offerings to accommodate local preferences and cultural subtleties.

Category-wise Insights

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%

Demand for Dairy Products to Remain High in the Market

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.

Food Service Segment Takes a Lead Meeting the On-the-go Demand

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.

Competitive Landscape

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

• In 2022, VegaBytz Company introduced plant-based, 100% vegan meat products in India, offering ready-to-eat meat, chicken, tuna meals, and curry products made from plants.
• In 2021, Nomad acquired Fortenova's Frozen Food Business Group (FFBG) to expand its product portfolio.
• In 2022, McCain Foods acquired Scelta Products. Through this acquisition, the company's position in the prepared frozen appetizer market will be strengthened, and frozen prepared meals are set to gain more creativity and capacity.

Key Companies Profiled

• Nestlé
• Dr. Oetker
• Campbell Soup Company
• Nomad Foods
• Danone
• Vietnam Hanfimex Corporation
• General Mills Inc.
• California Pizza Kitchen
• McCain Foods Ltd.
• MTR Foods Private Limited
• Conagra Brands, Inc.
• Atkins Nutritionals, Inc.

Ready-to-eat Food Market Segmentation by Category

By Product Type:

• Dairy Products
• Instant Breakfast/Cereals
• Bakery and Confectionary
• Meat and Poultry
• Frozen Pizza
• Pasta and Noodles
• Savory Snacks
• Prepared Salads

By Sales Channel:

• Food Service
  • Hotel, Restaurant, Cafes
  • Bakeries and Patisseries
  • Quick Service Restaurants (Sandwicheries, Fast Casual, Coffee Shops)
• Airport Retail
• Travel Retail
• Retail
  • Hypermarket/Supermarket
  • Convenience Stores
  • Departmental Stores
  • Wholesale Stores
  • Mass Grocery Retailers
  • Specialty Stores
• Online

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa

Frequently Asked Questions

How big is the ready-to-eat food market?

The market is set to reach USD 195.9 billion in 2024.

What is the ready-to-eat food market forecast?

Demand for ready-to-eat food is slated to expand at a 9.2% CAGR by 2034.

What is the outlook for the ready-to-eat food market?

The market is expected to reach USD 391.1 billion in 2034.

Who are the key players in the ready-to-eat food market sphere?

Nestlé, Dr. Oetker, and Campbell Soup Company are the key players.

Which product type would lead the ready-to-eat food market?

Dairy product segment is estimated to hold a market share of 15.7% in 2024.