Ready-to-eat foods are processed and packaged foods which can be easily consumed without any additional preparation. They are convenient, portable and provide instant nourishment on-the-go. The rising trend of busy lifestyles and changing eating habits is increasing the demand for ready-to-eat foods.
The global Ready To Eat Food Market is estimated to be valued at US$ 157871.05 Mn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The demand for ready-to-eat foods is rising significantly driven by increasing preference for healthy and convenient food options. With changing lifestyles, people are opting for ready meals and snacks that offer nutrition and satiety without compromising on taste or time. Leading players are innovating and offering varied product ranges sweetened with natural ingredients and containing whole grains, plant-based proteins etc to cater to the evolving needs of health-conscious consumers. This thriving trend of healthy ready meals is expected to continue shaping the Ready To Eat Food Market landscape over the forecast period.
SWOT Analysis
Strength: Ready To Eat Food Market growth provides convenience to customers with no preparation time required. They have a longer shelf life which reduces food wastage.
Weakness: These foods tend to have more preservatives, sugar, salt and fat content which can impact health in the long run. The packaging also produces non-biodegradable waste.
Opportunity: Growing health awareness is increasing demand for healthier ready to eat options. Rising number of working women and dual income households raises need for convenience.
Threats: Volatility in raw material prices can impact production costs. Change in regulations related to packaging and food quality can pose challenges.
Key Takeaways
The Global Ready To Eat Food Market Growth is expected to witness high growth over the forecast period of 2023 to 2030.
North America currently dominates the market owing to busy lifestyles and increasing demand for convenience foods. However, Asia Pacific is expected to grow at the fastest pace due to rising incomes, urbanisation and western influence on food consumption patterns in the region.
Key players operating in the ready to eat food market are Clos Sainte Aurore (France), Spirulina Viva (Mexico), SPIFORM (France), Spirulina La Capitelle (France), Aurospirul (India), and Far East Microalgae Industries, Co., Ltd. (Taiwan). The market is fragmented with the presence of several global and regional players. Major players are focusing on new product launches, mergers and collaborations to expand their global footprint.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
