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Ready-to-Eat Meals - APAC

APAC
  • Revenue in the Ready-to-Eat Meals market amounts to US$348.20bn in 2024. The market is expected to grow annually by 7.02% (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$81.23 are generated in 2024.
  • In the Ready-to-Eat Meals market, volume is expected to amount to 61.33bn kg by 2029. The Ready-to-Eat Meals market is expected to show a volume growth of 6.0% in 2025.0.
  • The average volume per person in the Ready-to-Eat Meals market is expected to amount to 11.5kg in 2024.

Definition:

The Ready-to-Eat Meals market covers prepared food and meals that can be eaten as is or after minimal preparation. These meals do not require cooking and are typically consumed after heating. These meals may also include disposable eating utensils. Classic frozen foods include meat, fish, vegetables, filled pasta, and frozen pizzas.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

In-Scope

  • Ready-to-eat meals based on meat, fish or vegetables (e.g salads, sandwiches and wraps, sushi rolls)
  • Frozen pizzas, frozen dinners, frozen breakfast burritos, frozen ethnic foods
  • Frozen appetizers (e.g. spring rolls, dumplings, and chicken wings)
  • Filled pasta
  • Canned pasta meals, meal kits
  • Cup noodles, instant noodle, microwavable ramen bowls

Out-Of-Scope

  • Soups
  • Out-of-home consumption

Revenue

Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Sep 2024

Source: Statista Market Insights

Most recent update: Sep 2024

Source: Statista Market Insights

Volume

Most recent update: Sep 2024

Source: Statista Market Insights

Most recent update: Sep 2024

Source: Statista Market Insights

Price

Most recent update: Sep 2024

Source: Statista Market Insights

Sales Channels

Most recent update: Nov 2024

Source: Statista Market Insights

Global Comparison

Most recent update: Sep 2024

Source: Statista Market Insights

Analyst Opinion

The Ready-to-Eat Meals Market in APAC is experiencing minimal growth, impacted by factors such as changing consumer preferences, health concerns, and the convenience of pre-packaged meals. This growth is expected to continue due to the rising demand for on-the-go food options and busy lifestyles.

Customer preferences:
Convenience and time-saving have become key considerations for consumers in APAC, driving the growth of the Ready-to-Eat Meals Market in the Convenience Food Market of The Food market. Busy lifestyles and the increasing number of working individuals have led to a rise in demand for quick and easy meal options. Additionally, the growing popularity of e-commerce and online food delivery platforms has made it easier for consumers to access ready-to-eat meals, further fueling the market growth.

Trends in the market:
In APAC, the Ready-to-Eat Meals Market within the Convenience Food Market is experiencing a surge in demand due to the growing working population and busy lifestyles. This has led to the rise of innovative and healthier ready-to-eat options, such as organic and plant-based meals. Additionally, there is a growing trend of using e-commerce platforms to purchase these meals, providing convenience and accessibility. This trend is expected to continue on its upward trajectory, with potential implications for industry stakeholders such as increased competition and the need for product differentiation.

Local special circumstances:
In China, the Ready-to-Eat Meals Market within the Convenience Food Market is flourishing due to the high demand for convenience and time-saving options among the urban population. The country's fast-paced lifestyle and increasing disposable income have led to the popularity of ready-to-eat meals as a convenient and affordable option. Moreover, the Chinese government's emphasis on food safety and quality control has also contributed to the growth of this market.

Underlying macroeconomic factors:
The Ready-to-Eat Meals Market of the Convenience Food Market within The Food market in APAC is greatly impacted by macroeconomic factors such as economic growth, consumer spending patterns, and government policies. With the region experiencing strong economic growth and rising disposable incomes, consumers are increasingly turning towards convenient and time-saving meal options, thereby fueling the demand for ready-to-eat meals. Moreover, favorable government policies, such as initiatives to promote a healthy lifestyle and increase food safety regulations, are also expected to drive market growth. However, high import costs and fluctuating raw material prices may hinder market growth in some countries. Overall, the increasing purchasing power and changing lifestyles in the region are expected to drive the demand for ready-to-eat meals in APAC.

Methodology

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.

Key Market Indicators

Notes: Based on data from IMF, World Bank, UN and Eurostat

Most recent update: Sep 2024

Source: Statista Market Insights

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