The global ready-to-eat food market is expected to reach a total market value of USD 1,80,000 million in 2022, with a CAGR (compound annual growth rate) of 7.7%, resulting in a total market value of USD 3,77,945.81 million by 2032. Despite the Covid problem, the ready-to-eat food sector has proven to be one of the fastest-growing industries. Customers want products that are healthier, more personalized, and more authentic and natural, without sacrificing health goals, flavors, or minerals. Above all, such products should aid people in eating healthily despite their hectic schedules and active lifestyles. Customers who are increasingly scheduled to work but have high demands for food quality, flavor, and presentation must be appropriately communicated with by shops and manufacturers.
Important Points to Remember:
The United States dominates the ready-to-eat food sector not only in North America but also globally, thanks to its massive market presence, technological advancements and innovation, hectic schedules, and strong spending power.
With a total market value of USD 44,460 million, the United States holds a 65 percent market share in the region.
By 2020, around 36% of American people will have ready-to-eat meals.
Pre-cooked meat and smoked fish are the most popular and profitable categories in the Indian ready-to-eat food sector, and they are predicted to generate significant revenue.
“Customers choose ready-to-eat food since it can be a good substitute for a regular diet and has a longer shelf life, making it easier to store for later.”
Customers want minimally processed ready-to-eat meals with a longer shelf life and few or no preservatives, but not at the price of sensory qualities. High-Pressure Processing (HPP) technology holds a lot of promise as a heat-free preservation solution for RTE meals.
MUSH, which makes overnight cold-soaked oats in dairy-free milk that is never heated and free of preservatives and artificial colors, is another success story. Soup pouches, plant-based broths, and animal stews are among the gastronomic options available at Singapore’s Soup Spoon. In Italy, Villa Food produces traditional Italian ready-to-eat meals, including vegetarian options. During the week, tappers in Spain give a variety of meals, including plant-based ones.