Trends in Growth, Market Segmentation, and Competitive Strategies Influencing the Ready Meals Industry

The ready meals sector is on track for remarkable expansion in the coming years, driven by shifting consumer preferences and evolving market dynamics. As convenience and nutrition become paramount for busy lifestyles, this industry is adapting with innovative products and growing distribution channels. Here's an in-depth exploration of the market's current value, key players, emerging trends, and segmentation.

Projected Market Size and Growth Trajectory of the Ready Meals Market
The ready meals industry is poised for rapid development, with its market value expected to reach $333.24 billion by 2030. This expansion corresponds to a robust compound annual growth rate (CAGR) of 10.8%. Several factors contribute to this upward trend, including rising consumer demand for clean-label ready meals, the growing popularity of online food retail platforms, an increased emphasis on nutritionally balanced options, advances in packaging technology, and the growth of premium ready meal segments. Additional trends anticipated to shape the market include a preference for convenient ready-to-eat options, greater interest in healthier meal choices, wider adoption of frozen and chilled meals, growth in portion-controlled meal formats, and a stronger focus on extending product shelf life.

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Key Players Making Their Mark in the Ready Meals Industry
The ready meals market features several influential companies shaping its landscape. Leading firms include Nestlé S.A., Unilever PLC, Conagra Brands Inc., General Mills Inc., Kraft Heinz Company, Campbell Soup Company, Ajinomoto Co. Inc., Dr. Oetker GmbH, Fleury Michon S.A., Nomad Foods Limited, Bakkavor Group plc, Greencore Group plc, Amy's Kitchen Inc., Hormel Foods Corporation, BRF S.A., McCain Foods Limited, Iglo Foods Group Limited, Iceland Foods Ltd., Tata Consumer Products Limited, ITC Limited, MTR Foods Private Limited, CJ CheilJedang Corporation, Maruha Nichiro Corporation, and Lantmännen Unibake Group.

In a notable development, LIVEKINDLY Collective (LKC), a US-based plant-focused food company, acquired Alpha Foods in August 2023 for an undisclosed sum. This move expanded LKC's reach within the United States and enabled entry into the ready-to-eat breakfast and burrito snack categories. With distribution across more than 200,000 points in over 40 countries, this acquisition significantly boosts LKC's market presence and positions it as a leading global plant-based brand. Alpha Foods specializes in ready-to-eat breakfast products and is based in the US.

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Emerging Trends Driving Innovation in the Ready Meals Sector
Top companies in the ready meals space are focusing on launching innovative items such as chef-crafted ready-to-eat meals that combine convenience, freshness, and superior nutritional content. These chef-designed dishes offer restaurant-quality flavors and balanced nutrition, requiring only quick reheating, making them ideal for consumers with limited time for cooking.

For example, in December 2023, Blue Apron, a meal kit and delivery company based in the US, introduced its Prepared & Ready line. This product range features chef-crafted, nutritionist-approved meals that are non-frozen and can be reheated within minutes. The rotating menu includes over 16 options encompassing protein-rich dishes, grain bowls, vegetable mixes, and rice-based meals, providing a convenient alternative to traditional cooking without compromising on ingredient quality or nutritional balance.

Detailed Segmentation of the Ready Meals Market
The ready meals market is analyzed across several key segments:
1) Product Type: Frozen, Chilled, and Canned meals
2) Distribution Channel: Supermarkets or hypermarkets, convenience stores, and online platforms
3) End-User Groups: Households, foodservice and HoReCa (Hotels, Restaurants, and Cafés), corporate and institutional catering, and travel and transportation catering

Further breakdown of product categories includes:
- Frozen meals subdivided into organic frozen complete meals, organic frozen single-serve meals, and organic frozen family-size meals
- Chilled meals include chilled pasta dishes, chilled rice meals, and chilled ethnic and regional meals
- Canned meals cover organic canned meat-based meals, canned stews, and canned pasta dishes

This comprehensive segmentation allows for targeted analysis of consumer preferences and market opportunities across different meal formats, distribution channels, and end-user applications.

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This release was published on openPR.