Ready to Eat Meals Current Market Trends: DecisionDatabases.com

  • Analysis
  • 10-November-2015

In a fast paced world where everything is expected to reach a multitude of people in no time and where life is defined by pace, food is something that becomes an indispensable part of the daily hectic life. Hence even in the food sector people want fast delivery. Young professionals, who do not have time to even cook in this rapid urbanization, seek something readymade. And therefore; ready to eat meal products have come a long way in today’s world.

Ready to eat meal products are often referred to as “convenience food”, for the convenience they provide to the hectic life of people. They are readymade food or almost readymade food that just require boiling. Depending on the process of production and packaging, they are segmented into canned food, frozen food and chilled food. And because the major drivers of the market aren’t specific to any region but are globally influencing the market, the ready to eat meal products market is growing fast and has become the largest market in the food industry globally.

Market snapshot:
 

        Factors affecting the market  
  • Fast life in rapid urbanization
  • Increasing women workforce
  • Lifestyle of consumers
  • Improving technologies that increase the shelf life of packaged foods
  • Willingness to consume healthy food and avoiding fast food and restaurant dining.
                  Current Markets  
  • North America leads the market in terms of sales and consumption of ready to eat meal products.
                        Forecast  
  • The US is expected to dominate this market in the coming years
  • Asia-Pacific will show a tremendous growth
  • Russia, Poland and Germany are expected to have a stable growth.
 
Major Players

Pinnacle Foods, Inc. - Pinnacle Foods specializes in shelf stable and frozen packaged food categories. This American multinational company is headquartered in Parsippany, New Jersey. The company has followed organic and inorganic growth methodologies to become a key player in the market. Famous brands under its umbrella are – Armour, Aunt Jeminal Froxen Breakfast, Birds Eye, Celeste, Duncan Hines, Hungry- Man, lenders Bagets, log Cabin Syrup among many others.

Bakkavor Group Limited- This is a multinational company with its roots headquartered in UK –London. It provides a wide variety of freshly prepared packaged food. Ready meals, ready soups, dips, salads, pizzas, prepared vegetables and fruits are a few of its products sold globally. It was formed in 1986, and today enjoys a turnover of more than 1.5 billion Euros with its international footprint in Belgium, Italy, Spain, USA and China.

McCain Foods Limited- It’s a Canadian multi-national company that was formed way back in 1957. It has its headquarters at Florenceville, New Brunswick, Canada. It is the world’s largest producer of French fries and frozen food products, like frozen desserts. Its frozen desserts and oven meals are famous globally and are considered the most hygienic ready to eat packaged food across the globe.

MTR Foods- Situated in Bengaluru, MTR Foods is the most widely consumed and trusted brand in the ready to eat food products sector in India. This company produces 100% vegetarian food, and has created a wide market niche for itself. The packaged food includes the spices and taste of North and South Indian cuisine. From soups and vegetables to rice and daal, all are available under this brand.

Kohinoor Foods- One of the famous brands in India that produces diverse ready to eat meal products, Kohinoor Foods is the perfect blend of Indian traditional spices, plural cuisine and styles of eating. From snacks, curries, its famous rice, you also get packaged bread or butter naan. 
 
 
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