In a recent report titled “Ready-to-eat Food Market: Global Industry Analysis and Opportunity Assessment, 2016-2026,” Future Market Insights provides vital insights on the global market for ready-to-eat food products. The global market for ready-to-eat food items is anticipated to grow at a robust CAGR of 7.2 percent from 2016 to 2026 in terms of value. Future Industry Insights provides information on the major market drivers and trends as well as an analysis of the performance of the global market for ready-to-eat food items in the study.
According to Future Market Insights analysts, factors that are projected to fuel the expansion of the global market for ready-to-eat food items during the forecast period include an increase in the proportion of working women, a growing millennial population, and on-the-go consumption patterns. In developed nations like the U.S., Germany, and Russia, consumption of packaged foods has changed as a result of numerous advancements in packaging technology, such as the introduction of advanced microwave technology. As a result, there is now a much greater demand worldwide for ready-to-eat food products. Future Market Insights analyst
However, unhealthy substitutes and low quality and taste coupled with an increasing shift towards a healthier lifestyle is likely to hinder market growth in the coming years.
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Segmentation highlights
The global ready-to-eat food products market is segmented on the basis of Product Type (Meat/Poultry, Cereal Based, Vegetable Based, Others), Packaging (Canned, Frozen or Chilled, Retort, Others), and Distribution Channel (Hypermarket/Supermarket, Convenience/Departmental Store, Specialty Store, Online Store, Others).
- The Meat/Poultry product type segment is estimated to be valued at US$ 44.54 Bn 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 is estimated to account 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 is estimated to be valued at US$ 38.66 Bn by the end of 2016, which is expected to expand at a CAGR of 5.7% over the forecast period to be valued at US$ 67.08 Bn 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
Regional projections
The global ready-to-eat food products market is segmented into seven key regions – North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Middle East & Africa (MEA), and Japan. Asia Pacific excluding Japan (APEJ), Eastern Europe, and North America are expected to register high growth rates between 2016 and 2026. The ready-to-eat food products market in North America is expected to register significant value over the forecast period owing to increasing per capita consumption of ready-to-eat food in this region.
By the end of 2016, the North America market is estimated to be valued at US$ 39.02 Bn, which is expected to expand at a CAGR of 7.3% over the forecast period to be valued at US$ 78.73 Bn by the end of 2026. The Asia Pacific market is estimated to be valued at US$ 17.73 Bn by the end of 2016, which is expected to expand at a CAGR of 8.4% over the forecast period to be valued at US$ 39.78 Bn by the end of 2026.
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Vendor insights
The report profiles the leading companies operating in the global ready-to-eat food products market. The companies profiled in the report are Nomad Foods Ltd., Bakkavor Foods Ltd., General Mills Inc., McCain Foods, Premier Foods Group Ltd., 2 Sisters Food Group, Greencore Group Plc., Orkla ASA, ConAgra Foods, Inc., and ITC Limited.
Key Segments Covered in India Ready-to-mix Food Market Report:
On the basis of application, the India ready-to-mix food market has been segmented into:
- Snack Mix
- Desert Mix
- Curry Making Enablers
On the basis of distribution channel, the India ready-to-mix food market has been segmented into:
- Modern Trade
- Kirana Shops
- Online Retailers
- Other Distribution Channels
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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