Key regions: Russia, United States, United Kingdom, Canada, India
The Ready-to-Eat Meals Market in the EU-27 has shown negligible growth, influenced by factors such as changing consumer preferences, increasing health consciousness, and the convenience of pre-packaged meals.
Customer preferences: The demand for ready-to-eat meals is on the rise in the EU-27 market, as consumers lead increasingly busy lifestyles and seek convenient meal solutions. This trend is also driven by the growing popularity of single-person households and the rise of urbanization. Additionally, there is a growing preference for healthier and more diverse options, leading to a surge in demand for plant-based and organic ready-to-eat meals. This trend is further supported by the increasing focus on sustainability and ethical consumption among EU consumers.
Trends in the market: In the EU-27, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is experiencing a rise in demand for healthier and more sustainable options. This trend is driven by increasing health consciousness and a growing concern for the environment. As a result, there is a shift towards plant-based and organic ready-to-eat meals, as well as a focus on reducing packaging waste. This trend is significant for industry stakeholders as it presents opportunities for innovation and differentiation, but also poses challenges in terms of sourcing sustainable ingredients and implementing eco-friendly packaging solutions. Additionally, with the rise of online food delivery services, the convenience of ready-to-eat meals is expected to further increase, presenting potential implications for traditional brick-and-mortar retailers.
Local special circumstances: In EU-27, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is heavily influenced by cultural preferences for convenience and ease of preparation. This has led to a high demand for frozen and pre-packaged meals. Additionally, strict food safety regulations in the region have resulted in a competitive market with a strong focus on quality and traceability. In contrast, in countries like India and Brazil, convenience food options are often limited and there is a growing demand for ready-to-eat meals due to the rise of urbanization and busy lifestyles. This has created opportunities for international players to enter these markets and cater to the increasing demand for convenient and affordable food options.
Underlying macroeconomic factors: The growth of the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is also influenced by macroeconomic factors such as consumer spending power, changing lifestyles, and technological advancements. Countries with higher disposable incomes and urbanization rates tend to have a higher demand for convenient and on-the-go food options. Furthermore, advancements in food processing and packaging technologies have enabled the production of shelf-stable and easy-to-prepare meals, catering to the growing demand for convenience among busy consumers. Additionally, the increasing focus on health and wellness is driving the demand for healthier and more nutritious ready-to-eat meals, further fueling market growth.
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.
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