The Global Ready to Eat Food market is majorly driven by rapid urbanization and popularity among younger working class consumers according to our research report “Global Ready to Eat Food Market Outlook 2023”.
Regionally, the ready to eat food market is segmented into North America, Europe, Asia-Pacific and Rest of World (ROW). Among these, North-America is anticipated to witness a significant growth and occupy the largest share of the ready to eat food market by 2023.
The hectic lifestyle has forced the consumers towards the adoption of ready to eat food products. Global ready to eat food market is anticipated to project a market size of USD 172.4 billion by the end of 2023 witnessing a promising compound annual growth rate of 7.3% over the forecast period i.e. 2016-2023. Ready to eat meat and poultry products market is projected to lead the market followed by vegetabales based ready to eat products in near future.
North-America holds the largest consumer base of ready to eat food market across the globe and is estimated to project highest value share of 42% by the end of 2016 owing to the technological innovations, busy lifestyle of consumers and high personal disposable income.
Rapid Urbanization: Uplift
Rapid urbanization has led to strong demand of ready to eat food across the globe. People now prefer nutritional small quantity of ready to eat food rather than traditional large meals due to busy lifestyle. Ready to eat food market is likely to expand with a higher pace owing to high consumer acceptance for such foods globally.
Rising Personal Disposable Income: Impetus
In past 3 years, ready to eat food market has witnessed a double digit growth. Rising personal disposable income coupled with busy lifestyle of working class consumers is escalating the growth of ready to eat food market.
The report titled “Global Ready to Eat Food Market Outlook 2023” delivers detailed overview of ready to eat food in terms of market segmentation by regions, by product, by packaging and by distribution channel.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the ready to eat food industry which includes company profiling of Nomad Foods Ltd, McCain Foods, Premier Foods Group Ltd., Teleflex Incorporated, ConAgra Foods Inc. etc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview on the global ready to eat food market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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