Global dinner ready-to-eat food market will grow briskly in 2021, gaining from accelerated food preferences and launch of new products. In a new study, Future Market Insights (FMI), opines growth to be complemented by APAC countries, with e-commerce sales becoming preferred.
Manufacturers are emphasizing on incorporating sustainable solutions to achieve operational efficiency. 3-D printing, for instance, is touted as a highly lucrative option. Although in its nascent stages, 3-D printed food are likely to be popular on a larger scale.
Players such as Foodini and Biozoon have already penetrated the global food landscape. Research has concluded that incorporating 3-D printing has the potential to reduce greenhouse gas emissions by over 90%, utilizing just 1% of land, 4% water and 45% energy. Such promising trends are highly welcome across the dinner RTE food market.
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Key Takeaways
- Asia-Pacific to expand most rapidly, Europe to retain market dominance in the near-term forecast
- Frozen dinner RTE food to record maximum sales, attributed to rising stockpiling of instant food by consumers to survive the COVID-19 pandemic
- Prominent vendors incorporating various nutrient and flavor combinations to cater to a wider target audience
- E-commerce likely to emerge as the most lucrative dinner RTE food channel in the forthcoming forecast period
COVID-19 Impact Insights
In the initial stages, the COVID-19 pandemic exerted significant pressure on the global food supply chain, attributed to tight restrictions on logistics to curb spread of the virus. As the months passed, these restrictions have eased significantly, elevating growth prospects for dinner RTE food.
Experts conclude that in-spite of the recessionary downturn, the dinner RTE food market will continue enjoying healthy growth. Prolonged lockdowns have led to an indefinite shutdowns of office premises and educational institutions, compelling employees and students to remain indoors, thus accelerating the need for instant food.
Competitive Landscape
Prominent players in the global dinner RTE food market include General Mills Inc., Findus Group, The Kraft Heinz Company Ltd., Unilever NV, Tyson Food Inc., Sigma Alimentos S.A de C.V., Greencore Group Plc., Nestle SA, Hormel Food Corporation, Smithfield Food Inc. and ITC Limited.
New product launches, expansion of existing portfolios, strategic collaborations and mergers are some of the strategies employed by the aforementioned companies so as to remain afloat in the market.
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About FMI:
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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