Ready to Eat Food Market | Know the Companies List Could Potentially Benefit or Loose out From the Impact of COVID-19

The global ready to eat food market was accounted for US$ 122,488 Mn in terms of value by the end of 2019.

Ready to eat food are ready meal that is convenient to consume as they help in saving time and efforts. Such foods have longer shelf-life and can be classified into canned, frozen, and retort. They are widely available across convenience/departmental stores, hyper/supermarket, and specialty stores.

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Growing demand for convenience food around the globe is primarily fueling the market growth of the ready to eat food. This is due to the hectic lifestyle of the consumer along with the increasing working women around the globe. Moreover, growing disposable income of the consumer which is encouraging them to spend on convenience food is further expected to foster the market growth of the ready to eat food over the forecast timeframe.

Market Restraints

Growing demand for fresh and healthy foods among health-conscious consumers is expected to restrict the market growth of the ready to eat food. According to the Coherent Market Insights analysis, ready to eat foods in some countries such as Canada and Japan are viewed as convenient options and perceived to be unhealthy and are consumed when there is a lack of other options as they are overly processed.

Increasing strict rules and regulations regarding the ingredients present in the ready-to-eat food products is projected to negatively impact the market growth over the forecast timeframe.

Statistics:

Global ready to eat food market was valued at US$ 122,488 million in 2019 and is forecast to reach a value of US$ 209,366 million by 2027 at a CAGR of 7.2% between 2019 and 2027.

Market Trends/Key Takeaways

Frozen and chilled meals such as frozen pizza and meals are gaining popularity across the globe. This is expected to foster the market growth of ready-to-eat food. Moreover, increasing consumption of canned meals coupled with the growing demand for dried products such as instant pasta and noodles are further anticipated upsurge the market growth over the forecast period.

Global Ready to Eat Market - Impact of Coronavirus (Covid-19) Pandemic

The novel Coronavirus (COVID-19) has impacted almost all the industries globally including food and beverage industry. Rising demand for packed food products owing to rising health and hygiene awareness supports the growth of the ready to eat food market globally.

Competitive Section:

Company Names

Nomad Foods Ltd.
Bakkavor Foods Ltd.
General Mills
McCain Foods
Premier Foods Group Ltd.
2 Sisters Food Group
Greencore Group plc
Orkla ASA
ConAgra Foods Inc.
ITC Limited

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This release was published on openPR.