Global
Ready Meals Market: Overview
The
global ready meals market is primarily driven by the convenience
these products offer to students and working professionals. Ready
meals are precooked and prepackaged meals that can be consumed with
minimum or no preparation. Due to the busy lifestyles, consumers
prefer ready-to-eat meals that decrease the preparation time, thereby
propelling the demand for ready meals. These meals provide a
healthier alternative to junk food and cheaper alternative to eating
out. Moreover, the rising disposable income of consumers is
contributing to the growth of the market. According to a report by
the National Institutes of Health (NIH), more than 90% of the
population in the U.S. consume ready meals daily; they provide more
than 7% of the total daily energy to Americans, studies show.
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The
report provides a 360-degree view of the global ready meals market.
It offers valuable insights into several aspects of the market
including its dynamics, geographical landscape, technological
developments, and competitive landscape. Information from a number of
press releases, presentations, white papers, paid databases, and
journals has been taken under consideration for collating this
report.
Global
Ready Meals Market: Restraints and Opportunities
Despite
the convenience offered, the negative perception of ready meals among
health-conscious consumers is adversely affecting the growth of the
global market. The increasing consumption of these meals is
concomitant with the rise in the prevalence of obesity and other
lifestyle-related diseases. Moreover, events such as the horse meat
scandal in the U.K. have drawn consumers away from these meals. Such
events are increasing the skepticism regarding the purity of raw
materials amongst consumers, thereby impeding the growth of the
market. Furthermore, with the existing storage and transportation
system, several manufacturers are unable to ensure quality and
consistency, which is hampering the growth prospects of the market.
On
the other hand, manufacturers are increasingly focusing on the
packaging as it plays a vital role in retaining the product quality,
vitamin content, taste, texture, color, and shelf life. Manufacturers
are collaborating with packaging companies to develop advanced and
innovative packaging such as biodegradable barrier tray to expand
their consumer base. This is likely to provide a significant push to
the market in the near future. Moreover, consistent PR efforts by the
leading manufacturers are expected to help in rebuilding the positive
image of ready meals.
Global
Ready Meals Market: Geographical Segmentation
Regional
markets studied in the report are North America, Asia Pacific,
Europe, and Rest of the World (RoW). North America is expected to
witness robust growth during the forecast period owing to the
presence of a large working population. The Asia Pacific region is
anticipated to flourish owing to the financially strengthening
consumer base, rising population, and rapid industrialization in
emerging economies such as India and China. The growth of the ready
meals market in Europe is driven by countries such as Spain, the
U.K., France, Germany, and Russia. The introduction of various
healthy ready meals such as frozen salads, vegetables, and
gluten-free meat is contributing to the growth of the Europe region.
Companies
Mentioned in the Report
Due to the low scope of product differentiation, the global ready meals market is characterized by high competitive rivalry. Companies are investing large capital in research and development to launch innovative products in order to stay ahead in the market. Some of the leading players in the market are Bakkavor Foods Ltd., ConAgra, Greencore Group Plc., JH Heinz Company Ltd., Nestle, Northern Food Ltd., Kerry Foods Ltd., and Premier Foods Group Ltd.
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