Ready-to-Eat Foods Surge
Ready-to-eat food products market projected to grow at 7.2% CAGR through 2026
IMAGE CREDIT: Nick Roskelly
Future Market Insights delivers key insights on the global ready-to-eat food products market in a new publication titled, "Ready-to-eat Food Market: Global Industry Analysis and Opportunity Assessment, 2016-2026". In terms of value, the global ready-to-eat food products market is projected to register a healthy CAGR of 7.2% during the forecast period (2016-2026). In the report, Future Market Insights analyses the global ready-to-eat food products market performance and gives information on the key factors and trends impacting the market.
Analysts at Future Market Insights predict that a rise in the number of working women, a growing millennial population, and on-the-go consumption habits are factors likely to boost the growth of the global ready-to-eat food products market during the forecast period. "A large number of innovations in packaging technology such as introduction of advanced microwave technology have shifted the focus towards consumption of packaged foods in developed countries such as the U.S., Germany, and Russia; and this in turn has led to a significant increase in the demand for ready-to-eat food products globally." Analyst, Future Market Insights.
However, unhealthy substitutes and low quality and taste coupled with an increasing shift towards a healthier lifestyle is likely to hinder market growth in the coming years.
Segmentation highlights
The global ready-to-eat food products market is segmented on the basis of Product Type (Meat/Poultry, Cereal Based, Vegetable Based, Others), Packaging (Canned, Frozen or Chilled, Retort, Others), and Distribution Channel (Hypermarket/Supermarket, Convenience/Departmental Store, Specialty Store, Online Store, Others).
• The Meat/Poultry product type segment is estimated to be valued at US$ 44.54 Bn in 2016, and is likely to expand at a CAGR of 7.7% over the forecast period. This segment is expected to dominate the market in terms of value from 2016 to 2026
• The Frozen or Chilled packaging segment is estimated to account for 40.0% value share by the end of 2016. This segment is expected to account for a major market share in terms of value over the forecast period
• The Hypermarket/Supermarket distribution channel segment is estimated to be valued at US$ 38.66 Bn by the end of 2016, which is expected to expand at a CAGR of 5.7% over the forecast period to be valued at US$ 67.08 Bn by the end of 2026. Sales of ready-to-eat food products through the Hypermarket/Supermarket channel are expected to support segment growth over the forecast period
Analysts at Future Market Insights predict that a rise in the number of working women, a growing millennial population, and on-the-go consumption habits are factors likely to boost the growth of the global ready-to-eat food products market during the forecast period. "A large number of innovations in packaging technology such as introduction of advanced microwave technology have shifted the focus towards consumption of packaged foods in developed countries such as the U.S., Germany, and Russia; and this in turn has led to a significant increase in the demand for ready-to-eat food products globally." Analyst, Future Market Insights.
However, unhealthy substitutes and low quality and taste coupled with an increasing shift towards a healthier lifestyle is likely to hinder market growth in the coming years.
Segmentation highlights
The global ready-to-eat food products market is segmented on the basis of Product Type (Meat/Poultry, Cereal Based, Vegetable Based, Others), Packaging (Canned, Frozen or Chilled, Retort, Others), and Distribution Channel (Hypermarket/Supermarket, Convenience/Departmental Store, Specialty Store, Online Store, Others).
• The Meat/Poultry product type segment is estimated to be valued at US$ 44.54 Bn in 2016, and is likely to expand at a CAGR of 7.7% over the forecast period. This segment is expected to dominate the market in terms of value from 2016 to 2026
• The Frozen or Chilled packaging segment is estimated to account for 40.0% value share by the end of 2016. This segment is expected to account for a major market share in terms of value over the forecast period
• The Hypermarket/Supermarket distribution channel segment is estimated to be valued at US$ 38.66 Bn by the end of 2016, which is expected to expand at a CAGR of 5.7% over the forecast period to be valued at US$ 67.08 Bn by the end of 2026. Sales of ready-to-eat food products through the Hypermarket/Supermarket channel are expected to support segment growth over the forecast period
Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!
