In terms of value, the global ready meals market is projected to register a healthy CAGR of 7.2% during the forecast period (2016–2026). In a new report, Future Market Insights (FMI) analyses the global ready-to-eat food products market performance and gives information on the key factors and trends impacting the market.
Analysts predict that a rise in the number of working women, a growing millennial population, and on-the-go consumption habits are factors likely to boost the growth of the global ready-to-eat food products market during the forecast period.
“A large number of innovations in packaging technology such as introduction of advanced microwave technology have shifted the focus towards consumption of packaged foods in developed countries such as the U.S., Germany, and Russia; and this in turn has led to a significant increase in the demand for ready-to-eat food products globally,” according to a FMI analyst.
Segmentation highlights
The Meat/Poultry product type segment were valued at USD 44.54bn in 2016, and is likely to expand at a CAGR of 7.7% over the forecast period. This segment is expected to dominate the market in terms of value from 2016 to 2026. The Frozen or Chilled packaging segment accounted for 40.0% value share by the end of 2016. This segment is expected to account for a major market share in terms of value over the forecast period.
The Hypermarket/Supermarket distribution channel segment were valued at USD 38.66bn by the end of 2016, which is expected to expand at a CAGR of 5.7% over the forecast period to be valued at USD 67.08bn by the end of 2026. Sales of ready-to-eat food products through the Hypermarket/Supermarket channel are expected to support segment growth over the forecast period.
