Ready-to-Eat Meals - Americas

Americas

Highlights

Revenue in the Ready-to-Eat Meals market amounts to US$95.60bn in 2024. The market is expected to grow annually by 4.13% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$149bn in 2024).
In relation to total population figures, per person revenues of US$94.01 are generated in 2024.
In the Ready-to-Eat Meals market, volume is expected to amount to 15.95bn kg by 2029. The Ready-to-Eat Meals market is expected to show a volume growth of 2.1% in 2025.0.
The average volume per person in the Ready-to-Eat Meals market is expected to amount to 14.5kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Ready-to-Eat Meals Market in the Convenience Food Market within The Food market in Americas is experiencing slow growth, impacted by factors such as changing consumer preferences, lack of innovation, and increasing competition. Despite the convenience offered by these meals, the market's growth rate remains negligible.

Customer preferences: Convenience and speed are key factors driving the growth of the Ready-to-Eat Meals Market in the Americas. As consumers lead increasingly busy lifestyles, they are looking for quick and easy meal solutions that do not compromise on taste or quality. This trend is particularly prominent among the younger demographic, who prioritize convenience and value in their food choices. Innovative packaging and on-the-go options, such as individual portion sizes and microwavable meals, are gaining popularity as they cater to the needs of time-pressed consumers. Additionally, the rise in e-commerce platforms and the growing demand for contactless delivery have further accelerated the adoption of ready-to-eat meals among consumers in the region.

Trends in the market: In the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market, there is a growing trend towards healthier and more diverse options. This includes an increase in vegetarian and plant-based meal choices, as well as a focus on natural and organic ingredients. Additionally, there is a rising demand for convenience and on-the-go options, leading to the emergence of meal delivery services and grab-and-go options in supermarkets. These trends are significant as they cater to the changing consumer preferences for healthier and more convenient food choices. Industry stakeholders must adapt and innovate to meet these demands and stay competitive in the market. Failure to do so could lead to loss of market share to emerging players catering to these trends.

Local special circumstances: In the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market in the Americas, the United States dominates with its busy and fast-paced lifestyle. However, in Latin American countries, such as Mexico and Brazil, cultural preferences for freshly made meals may hinder the growth of the Ready-to-Eat Meals Market. Additionally, strict food regulations in Canada and the United States may pose challenges for manufacturers trying to introduce new products. The market dynamics in the Americas are heavily influenced by these unique geographical and regulatory circumstances.

Underlying macroeconomic factors: The Ready-to-Eat Meals Market of the Convenience Food Market within The Food market in the Americas is greatly impacted by macroeconomic factors such as consumer spending, employment rates, and disposable income. Countries with strong economic growth and high levels of disposable income are driving the demand for convenient, on-the-go food options. Additionally, government policies, such as tax incentives and subsidies, can also influence the growth of the market. The presence of multinational food companies, who have a strong foothold in the region, also plays a major role in shaping the market dynamics. Moreover, the increasing trend of urbanization and busy lifestyles in the region is further boosting the demand for ready-to-eat meals, as consumers are seeking convenient and time-saving meal options.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.