Ready-to-Eat Meals Market Growth Opportunity to Reach USD 150 Billion in 2024: Size, Share, Future Trends and Latest Research Report

Market Scenario
The global Ready-to-Eat Meals Market is expected to garner a revenue of USD 150 billion by 2024 at a CAGR of approximately 10.5% during the forecast period of 2019–2024. The significant growth rate of the market can be attributed to the ongoing convenience food trend and increasing per capita disposable income of consumers. The growing working population is yet another determinant boosting the global retail sales of ready-to-eat meals. In the developing countries, the changing lifestyle of people and the increasing influence of western culture are catalyzing the growth of ready-to-eat meals industry in those countries. However, ambiguity regarding the health effects of consuming packed and frozen food, along with the market players inability to maintain quality and consistency of food product during transportation and storage are hampering the market growth. Vendors in the global market are expected to witness profitable growth opportunities during the upcoming years due to the rise in number of organic ready meals launches, technological advancements, and establishment of a strong distribution network in both developing and developed nations.

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Segmentation
The global ready-to-eat meals market has been segmented based on type, distribution channel, and region.
Based on distribution channel, the market has been segregated into store-based and non-store-based. The store-based segment has been further segmented into supermarkets & hypermarkets, convenience stores, and others.
The North American ready-to-eat meals industry has further been segmented into the US, Canada, and Mexico. The European ready-to-eat meals industry has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The global market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The ready-to-eat meals industry in the rest of the world has been segmented into South America, the Middle East, and Africa.

Key Players
Conagra Foods Inc. (US), General Mills. Inc. (US), Associated British Foods PLC (UK), McCain Foods Limited (Canada), Bakkavor Group plc (UK), Premier Foods Plc (UK), Tyson Foods, Inc (US), Greencore Group plc (Ireland), Unilever (UK), Kerry Group (Ireland), and Grupo Bimbo, S.A.B. de C.V. (Mexico) are some of the key players in the global ready-to-eat meals market.

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Regional Market
Europe dominated the global ready-to-eat meals market in 2018 and is expected to maintain its dominance during the forecast period 2019–2024. The region’s dominance can be attributed to the busy lifestyle of consumers and convenience offered by ready-to-eat meals. The UK is the largest country-level market contributing to the growth of Europe ready-to-eat meals market. However, North America is expected to register the highest CAGR during the forecast period with the US dominating the regional market throughout the review period.

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This release was published on openPR.