Ready-to-Eat Meals - Eastern Asia

Eastern Asia

Highlights

Revenue in the Ready-to-Eat Meals market amounts to US$225.50bn in 2024. The market is expected to grow annually by 6.37% (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$137.90 are generated in 2024.
In the Ready-to-Eat Meals market, volume is expected to amount to 26.58bn kg by 2029. The Ready-to-Eat Meals market is expected to show a volume growth of 6.6% in 2025.0.
The average volume per person in the Ready-to-Eat Meals market is expected to amount to 12.7kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Convenience Food Market in Eastern Asia is experiencing minimal growth due to factors such as the shift towards healthier food options and the increasing demand for fresh, non-processed meals. Despite this, the Ready-to-Eat Meals Market is still seeing growth, driven by the busy lifestyles of consumers and the convenience it offers.

Customer preferences: As consumers in Eastern Asia become more time-conscious and seek convenient food options, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is seeing a rise in demand for healthy and nutritious options. This trend is driven by a growing emphasis on health and wellness, with individuals prioritizing foods that align with their dietary preferences and lifestyle choices. As a result, there is a shift towards plant-based, organic, and all-natural ready-to-eat meals, catering to the diverse dietary needs and preferences of the region.

Trends in the market: In Eastern Asia, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is experiencing a surge in demand for healthy and convenient meal options. This trend is driven by the rising health consciousness among consumers and the need for on-the-go food solutions. Additionally, there is a growing trend of incorporating traditional Asian flavors and ingredients into ready-to-eat meals, appealing to the local palate. These developments are significant for industry stakeholders as they present opportunities for product innovation and market expansion. However, there may also be challenges in meeting regulatory requirements and addressing concerns over preservatives and additives in these meals. Overall, the trajectory of these trends indicates a promising future for the Ready-to-Eat Meals Market in Eastern Asia.

Local special circumstances: In Japan, the Ready-to-Eat Meals Market within the Convenience Food Market is thriving due to the fast-paced lifestyle of its urban population. The country's unique culture of convenience and efficiency has led to the emergence of small format convenience stores, offering a wide variety of ready-to-eat meals. In South Korea, the market is heavily influenced by its strong food culture, with a focus on convenience and health. This has led to the development of a wide range of ready-to-eat meals, including traditional dishes with a modern twist, catering to the growing demand for convenient, yet nutritious options. With strict regulations on food safety and labeling, both Japan and South Korea have established a strong reputation for high-quality and safe ready-to-eat meals, driving the market's growth.

Underlying macroeconomic factors: The Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is significantly impacted by macroeconomic factors in Eastern Asia. The region's economic growth, rising disposable income, and changing consumer preferences for convenience and westernized diets are driving the demand for ready-to-eat meals. However, the market is also influenced by global economic trends, such as trade tensions and currency fluctuations, which can impact the cost of imported ingredients and affect pricing strategies. Additionally, government fiscal policies, such as import tariffs and food safety regulations, can also impact market performance. As such, companies operating in this market must carefully navigate these macroeconomic factors to remain competitive and meet consumer demands.

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.