Ready-To-Eat-Food Market is Expected to Witness Surge in Growth and Revenue Exponentially by 2027

 

Ready To Eat Food 

Ready-to-eat foods are ready-to-eat meals that are convenient to consume since they save time and effort. These foods have a longer shelf life and are categorised as canned, frozen, or retort. They are readily accessible at convenience and department shops, hypermarkets, and specialised stores.

The shifting food consumption habit of customers is a key rising component in the ready-to-eat food sector. The increased willingness to spend on such food, along with a lack of time to prepare at home as a result of rising urbanization, is the primary factor boosting demand for ready-to-eat meals. Furthermore, the expanding millennial and working women population is increasing the total demand for the ready-to-eat food Market from 2019 to 2027. Furthermore, customers are increasingly preferring on-the-go convenience food, which is a major driver of the worldwide demand for ready-to-eat food.  In addition, the improving consumer lifestyle, rapid urbanization and high disposable income are also lifting the growth of the ready to eat food market.

Because of the demanding work schedules of college graduates and students, a movement in consumer food preferences toward ready-to-eat food products is expected to be a critical element in market growth. Rising demand for minimally processed, additive-free food items with a long shelf life is expected to drive market growth. Employment has expanded globally in recent years, leading in a shift in consumer eating habits. Customers all throughout the world are shifting toward meals that are quick and easy to digest. Because of their demanding work schedules, people all around the world purchase Ready-to-Eat (RTE) food products and meals. RTE food products and meals are quick and easy to prepare.  The demand for ready meals is being driven by these consumer eating choices.

According to Coherent Market Insights, Global Ready To Eat Food Market was valued at US$ 122,488 million in 2019 and is forecast to reach a value of US$ 209,366 million by 2027 at a CAGR of 7.2% between 2019 and 2027.

However, the rising number of cases of failed quality tests of ready-to-eat food, as well as poor sensory properties of ready-to-eat food, are expected to act as a restraint on the growth of the ready-to-eat food market, whereas rising health concerns in all generations have the potential to challenge the growth of the ready-to-eat food market. Furthermore, different novel products in functional ingredients, organic convenience and meals, as well as quick advancements in packaging technology, will provide new possibilities for the ready-to-eat food market during the projected period of 2019-2027.

One of the primary drivers driving market expansion is the expanding food and beverage industry, which is accompanied by increasing urbanisation. Furthermore, the growing working population and improved consumer lifestyles have increased global consumption of RTE food items. Due to hectic schedules, on-the-go convenience meal options that take less time and materials to cook are becoming increasingly popular. Furthermore, the expanding number of quick-service restaurants (QSRs) and the burgeoning café culture, together with rising consumer spending power, are boosting demand for RTE food items.

Major Companies Listed are- Nomad Foods Ltd., Bakkavor Foods Ltd., General Mills, McCain Foods, Premier Foods Group Ltd., 2 Sisters Food Group, Greencore Group Plc.,Orkla ASA, ConAgra Foods Inc., ITC Limited

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