Introduction / Market Synopsis: —
The ready-to-eat food products do not require elaborate processing before consumption and save the time and energy of consumers. Currently, ready-to-eat food is the largest segment in the overall conventional and non-conventional food industry. This segment is growing at a fast pace as a result of the high consumer acceptance for such food globally.
The improving consumer lifestyle, rapid urbanization, and high disposable income are increasing demand for on-the-go convenience foods, thereby fuelling the ready-to-eat food market growth. Changing food consumption behaviour among consumers, increased willingness to spend on such food, and the lack of time to cook at home are a result of rapid urbanization.
The rising health consciousness among the consumers and sometimes poor sensory properties of ready-to-eat food can restrain the growth of the ready-to-eat food market. Innovative products in functional ingredients, convenience, organic foods, and advancement in areas of packaging technology are expected provide a future growth opportunity in the sector.
The Meat/Poultry segment is projected to account for the largest value share during the forecast period; this segment is estimated to account for 48% value share in 2016.
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The Global Ready-to Eat Food Market is broadly classified by Product Type, Application, and Top Players / Brands. By product, the market is broadly classified into Customized Meal Delivery Services and Restaurant Delivery Services.
By application, the market is segmented into Personal User and Business Users.
To determine the market segmentation, the report covers 14 key players (along with key players’ basic information, sales volume, revenue, price, and gross margin (%)) – to name a few:
· Fresh n'Lean
In addition, this report discusses the key drivers influencing market growth, opportunities, trends, and their impact on present and future development, and the challenges and risks faced by key players and the market as a whole.
In the report, by region, the global market is divided into Americas (United States, Canada, Mexico, and Brazil), Europe (Germany, France, UK, Italy, Russia, and Spain), Asia Pacific (China
Japan, Korea, Southeast Asia, India, and Australia) and the Middle East & Africa (Egypt, South Africa, Israel, Turkey, and GCC Countries)
Hypermarket and supermarket segment is estimated to account for the highest value share of 37% in 2016 and is expected to gain significant market share by the end of 2023.
The young consumers spend most of their income on convenient ready-to-eat food products. In Europe, the majority of the population is in the age group of 18-35 years, which is a clear indicator of the increased demand for convenient food products.
Ready-to-eat food products are being considered as the closest alternative to regular food. They can be consumed any time (such as during breakfast, lunch, or dinner). The initiatives taken by regulatory authorities, like ongoing promotional efforts undertaken by the Singapore Health Promotional Board to create awareness regarding frozen foods and fish products, are driving the market growth.
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Release ID: 88922094