Market Insights Consumer Food Convenience Food

Ready-to-Eat Meals - Montenegro

Montenegro

Revenue in the Ready-to-Eat Meals market amounts to US$54.60m in 2024. The market is expected to grow annually by 4.87% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (US$149bn in 2024).
In relation to total population figures, per person revenues of US$87.20 are generated in 2024.
In the Ready-to-Eat Meals market, volume is expected to amount to 10.79m kg by 2029. The Ready-to-Eat Meals market is expected to show a volume growth of 2.5% in 2025.
The average volume per person in the Ready-to-Eat Meals market is expected to amount to 15.5kg in 2024.

Key regions: Russia, United States, United Kingdom, Canada, India

Market

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Currency

Analyst Opinion

The Ready-to-Eat Meals market in Montenegro is facing negligible growth, due to factors such as limited consumer awareness and lack of convenience in accessing these meals. This market is part of the Convenience Food Market in the country's Food industry, which is experiencing slow growth due to a stagnant economy and changing dietary preferences.

Customer preferences: The increasing number of working professionals and busy lifestyles has led to a rise in demand for convenient and ready-to-eat meals in Montenegro. This trend is driven by the need for quick and easy meal solutions that cater to the fast-paced lifestyle of consumers. Additionally, there has been a growing preference for healthier and more nutritious options, leading to the emergence of a variety of organic and plant-based ready-to-eat meals in the market. This shift towards healthier alternatives is also driven by the rising health consciousness and awareness among consumers.

Trends in the market: In Montenegro, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is experiencing an increasing demand for healthier and more sustainable options. This trend is driven by a rising consumer awareness of health and environmental concerns. As a result, industry stakeholders are investing in product innovation and marketing strategies to cater to this demand. This trajectory is significant as it reflects a shift towards more conscious consumption, and has potential implications for the future of the market, with an expected increase in the availability and variety of healthy and sustainable ready-to-eat meals.

Local special circumstances: In Montenegro, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is heavily influenced by its unique geographical location. The country's access to the Adriatic Sea allows for a diverse range of seafood-based ready-to-eat meals, catering to the local preference for fresh and healthy options. Additionally, the country's growing tourism industry has led to an increase in demand for convenient and quick meal options, resulting in the popularity of ready-to-eat meals. Furthermore, Montenegro's strict food safety regulations ensure the quality and safety of these meals, providing consumers with peace of mind.

Underlying macroeconomic factors: The Ready-to-Eat Meals Market of the Convenience Food Market within The Food market in Montenegro is heavily influenced by macroeconomic factors such as consumer spending habits, economic stability, and government policies. Countries with higher disposable incomes and a stable economy tend to have a higher demand for convenience food products, including ready-to-eat meals. Additionally, government policies that support the growth of the food industry and promote foreign investments can also contribute to the market's performance. On the other hand, economic downturns and unstable political climates can negatively impact the market's growth. Moreover, changing consumer preferences and increasing health consciousness are also shaping the demand for ready-to-eat meals, as consumers seek healthier and more convenient options.

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.