Ready-to-Eat Meals - G7

Highlights

Revenue in the Ready-to-Eat Meals market amounts to US$158.40bn in 2024. The market is expected to grow annually by 2.22% (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$203.50 are generated in 2024.
In the Ready-to-Eat Meals market, volume is expected to amount to 13.85bn kg by 2029. The Ready-to-Eat Meals market is expected to show a volume growth of 0.8% in 2025.0.
The average volume per person in the Ready-to-Eat Meals market is expected to amount to 17.2kg 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 G7 is experiencing negligible growth, influenced by factors such as changing consumer preferences and increasing competition. Despite this slow growth, the market still offers convenience and ease for busy individuals.

Customer preferences: Consumers in the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market are increasingly looking for healthy and convenient options, leading to a rise in demand for plant-based and organic ready-to-eat meals. This trend is driven by a growing awareness of the importance of a balanced diet and the impact of food choices on personal health and the environment. Additionally, consumers are seeking more diverse and unique flavor profiles, reflecting their desire for global cuisines and adventurous eating experiences.

Trends in the market: In recent years, the Ready-to-Eat Meals Market within the Convenience Food Market has witnessed a surge in demand, driven by changing consumer lifestyles and increasing awareness about the convenience offered by these products. This trend is expected to continue in the coming years, with the market projected to grow at a CAGR of over 5% from 2020 to 2025. Furthermore, the COVID-19 pandemic has further accelerated this trend, as consumers are looking for quick and easy meal options while staying at home. This has also led to a shift towards healthier and more nutritious ready-to-eat options, creating opportunities for industry players to innovate and cater to this growing demand. With the rise of e-commerce and online grocery shopping, companies are also focusing on expanding their online presence and offering a wider range of ready-to-eat meals to tap into the growing digital market. Such developments are expected to significantly impact the Ready-to-Eat Meals Market within the Convenience Food Market, with industry stakeholders constantly evolving and adapting to meet the changing needs of consumers.

Local special circumstances: In Japan, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is heavily influenced by the country's fast-paced lifestyle and high demand for convenience. This has led to the development of a wide variety of ready-to-eat meals that cater to different dietary preferences, such as vegetarian and gluten-free options. Additionally, strict regulations on food safety and labeling have resulted in a high level of trust in the quality and safety of these meals among consumers. In Germany, the market is driven by the rising health consciousness and busy lifestyles of consumers, leading to a growing demand for healthier and more nutritious ready-to-eat meal options. This has also led to the popularity of meal delivery services, catering to the increasing demand for convenience and healthy eating habits among consumers.

Underlying macroeconomic factors: The Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is also impacted by macroeconomic factors such as global economic conditions, national economic stability, and fiscal policies. In countries with strong economic growth and stable fiscal policies, the market is likely to experience higher demand and growth compared to countries with weaker economies and unstable fiscal policies. Additionally, the rising trend of busy lifestyles and increasing disposable incomes are also driving the demand for ready-to-eat meals, especially in developing countries. Moreover, the growing urbanization and changing dietary habits are also contributing to the growth of this market.

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.