Ready-to-Eat Meals - BRICS

BRICS

Highlights

Revenue in the Ready-to-Eat Meals market amounts to US$238.60bn in 2024. The market is expected to grow annually by 8.43% (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$72.37 are generated in 2024.
In the Ready-to-Eat Meals market, volume is expected to amount to 46.99bn kg by 2029. The Ready-to-Eat Meals market is expected to show a volume growth of 7.0% in 2025.0.
The average volume per person in the Ready-to-Eat Meals market is expected to amount to 11.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Ready-to-Eat Meals Market in BRICS is facing subdued growth due to factors such as changing consumer preferences, rising health concerns, and increasing competition from traditional food options. These have led to a slower growth rate in the overall Convenience Food Market within The Food market.

Customer preferences: As more consumers prioritize convenience and time-saving options, the ready-to-eat meals market within the convenience food market has seen a rise in demand. In addition, there has been a growing preference for healthier and more nutritious options, leading to a surge in offerings of plant-based and organic ready-to-eat meals. This shift is driven by the increasing awareness and importance of health and wellness among consumers in the BRICS countries, as well as a growing trend towards sustainable and ethical food choices.

Trends in the market: In the BRICS countries, the Ready-to-Eat Meals market of the Convenience Food Market within The Food market is experiencing a rise in demand for healthy and organic options. Consumers are increasingly seeking convenience without compromising on nutritional value. This trend is driving the development of innovative products that cater to this segment. Additionally, there is a growing trend of using technology, such as meal delivery apps and online ordering platforms, to make the purchasing process more convenient for consumers. This trajectory highlights the importance of adapting to changing consumer preferences and investing in technology to stay competitive in the market. Moreover, it presents opportunities for industry stakeholders to tap into the growing demand for healthy and convenient food options in the BRICS countries.

Local special circumstances: In Brazil, the Ready-to-Eat Meals Market within the Convenience Food Market is thriving due to the country's fast-paced lifestyle and busy working population. The demand for quick and convenient meal options has led to the rise of ready-to-eat meal delivery services and online food ordering platforms. Moreover, Brazil's diverse cultural influences have also contributed to the variety of options available in the market, catering to different tastes and preferences. Additionally, the government's efforts to promote healthy eating habits have also influenced the development of this market, with companies focusing on offering nutritious and balanced ready-to-eat meal options.

Underlying macroeconomic factors: The Ready-to-Eat Meals Market within the Convenience Food Market in BRICS is impacted by macroeconomic factors such as economic stability, consumer spending power, and government policies. Countries with strong economic growth and a rising middle class, such as China and India, are expected to have a higher demand for convenience food products, including ready-to-eat meals. However, volatile economic conditions, such as inflation and currency fluctuations, can affect consumer purchasing power and ultimately impact market performance. Additionally, government initiatives to promote healthy eating and sustainable food production could also influence the market by creating opportunities for more nutritious ready-to-eat 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.