Market Overview
Ready to eat meals have emerged as the next big trend in the food and beverage sector. The market has developed rapidly due to the prevalence of a fast-paced lifestyle, especially in urban areas. Market Research Future, which focusses on market reports associated to Food, Beverages & Nutrition sector among others, have lately made available a report on this industry. The sector is expected to grow at a CAGR rate of 6% approx. from the year 2016 to 2022.
Amplified development in terms of food preparation and processing have been a positive stimulant to the expansion of the market. Heightened preference of working professionals for easy to make meal options has fueled the evolution of the market at a swift pace. Health based meals have also been of the quickly growing areas of the market as individuals are on the lookout for meals that are precooked.
Key players
The important players profiled in the market for ready to eat meals are Bakkavor Group Ltd (U.K.), Premier Foods Group Ltd (U.K.), General Mills (U.S.), (British Virgin Islands), Nomad Foods Ltd and McCain Foods (Canada) to name a few.
Market Segments
The market for ready to eat meals has been divided on product types into bakery, ready meals and mixes, non-alcoholic beverages, herbs and spices, soups, noodles and pasta among others. The packaging segment of the industry includes of box, can, vacuum pack sachet, bag and others. The cuisine type divides the market into Italian, Indian, Continental, Chinese and others. The specialty type segment of the market is categorized into preservative free, vegetarian, natural, non-vegetarian and others. The form segment divides the market into frozen, dried, cooked, instant, fresh and others.
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Regional Analysis
The industry for global ready to eat meals market is divided into Europe, North America, Asia Pacific, and Rest of the World (RoW). Among the different regions, the North American region has the main market share trailed by Europe and Asia Pacific. Rising population and increase in disposable income in Asia Pacific region is boosting the demand for ready to eat meals in this particular region.
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