Ready-to-Eat food, also known as “convenience food” is commercially prepared food, designed for ease of consumption. Ready-to-Eat food is considered one of the largest segment in the overall food industry, and is anticipated to grow robustly due to increasing acceptance by global consumers.
Ready-to-Eat Food Market Segmentation
Ready-to-Eat Food Market can be segmented by Process Types as Canned Food, Frozen Food and Chilled Food. Ready-to-Eat Food Market can also be segmented on the basis of products. This includes Meat Products, Cereal Products, Vegetable Products and Others. On the basis of Distribution Channels Ready-to-Eat Food Market is segmented as Hyper Market, Supermarket, Convenience Store, Departmental Stores, Specialty Store and Online Purchase.
Ready-to-Eat Food Market: Region-wise Outlook
Ready-to-Eat Food Market can be segmentedon the basis of region, includes North America, Latin America, Western Europe, Asia Pacific, Eastern Europe, Middle East & Africa and Japan.In terms of market share, the US is expected to dominate the ready-to-eat food market over the forecast period, followed by Asia Pacific. Furthermore, countries such as Russia, Poland and Germany among others, are expected to witness stable growth. Globally, Americans have the highest consumption rates for Ready-to-Eat Food due to time pressures.
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Ready-to-Eat Food Market: Drivers
Improving consumer lifestyle, high disposable income, rapid urbanization, increasing number of working women and hectic life style are key drivers of rapid growth in the Global Ready-to-Eat Food Market. Also, Ready-to-Eat Food products are especially appealing to consumers who are largely working professionals, single-person households or students and they do not have the time to cook. Because of increasing health awareness consumers do not want to consume fast food or ‘junk food’ or are looking for a more economical option to dining in restaurants. These changes in lifestyle are rapidly leading to consumers picking up ready meals from superstores, food stores or other retail outlets.
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Ready-to-Eat Food Market: Key Players
The key international players operating in Ready-to-Eat Food Market includes Bird’s Eye Ltd, Bakkavor Foods Ltd., General Mills, McCan Foods, Findus Group Ltd, Premier Foods Group Ltd., Northern Foods Ltd., and Greencore Group Plc. And MTR foods
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