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Ready-to-Eat Meals - Southern Asia

Southern Asia
  • Revenue in the Ready-to-Eat Meals market amounts to US$93.10bn in 2024. The market is expected to grow annually by 8.85% (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$48.60 are generated in 2024.
  • In the Ready-to-Eat Meals market, volume is expected to amount to 28.42bn kg by 2029. The Ready-to-Eat Meals market is expected to show a volume growth of 6.1% in 2025.0.
  • The average volume per person in the Ready-to-Eat Meals market is expected to amount to 12.0kg in 2024.

Definition:

The Ready-to-Eat Meals market covers prepared food and meals that can be eaten as is or after minimal preparation. These meals do not require cooking and are typically consumed after heating. These meals may also include disposable eating utensils. Classic frozen foods include meat, fish, vegetables, filled pasta, and frozen pizzas.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

In-Scope

  • Ready-to-eat meals based on meat, fish or vegetables (e.g salads, sandwiches and wraps, sushi rolls)
  • Frozen pizzas, frozen dinners, frozen breakfast burritos, frozen ethnic foods
  • Frozen appetizers (e.g. spring rolls, dumplings, and chicken wings)
  • Filled pasta
  • Canned pasta meals, meal kits
  • Cup noodles, instant noodle, microwavable ramen bowls

Out-Of-Scope

  • Soups
  • Out-of-home consumption

Revenue

Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Sep 2024

Source: Statista Market Insights

Most recent update: Sep 2024

Source: Statista Market Insights

Volume

Most recent update: Sep 2024

Source: Statista Market Insights

Most recent update: Sep 2024

Source: Statista Market Insights

Price

Most recent update: Sep 2024

Source: Statista Market Insights

Sales Channels

Most recent update: Nov 2024

Source: Statista Market Insights

Global Comparison

Most recent update: Sep 2024

Source: Statista Market Insights

Analyst Opinion

The Ready-to-Eat Meals Market in Southern Asia is facing subdued growth due to factors such as changing consumer preferences, increasing competition, and economic uncertainties. Despite this, the Convenience Food Market in the region continues to grow, driven by the convenience and time-saving benefits offered by these products. This trend is expected to continue as more consumers prioritize convenience in their busy lifestyles.

Customer preferences:
Consumers in Southern Asia are showing a growing preference for ready-to-eat meals as a convenient and time-saving option in their busy lifestyles. This trend is particularly evident in urban areas, where the demand for convenience foods is driven by the increasing number of working individuals and the rising popularity of single-person households. Additionally, the influence of Western culture and the adoption of a more fast-paced lifestyle have also contributed to the growing demand for ready-to-eat meals in the region.

Trends in the market:
In Southern Asia, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is seeing a surge in demand due to the increasing urbanization and busy lifestyles. This trend has led to the rise of innovative packaging solutions and a focus on healthier options, such as plant-based and organic meals. With the growth of e-commerce and online food delivery services, there is also a shift towards more convenient and on-the-go meal options. This trend is expected to continue in the coming years, presenting opportunities for industry stakeholders to capitalize on the growing demand for convenient and healthy food options in the region.

Local special circumstances:
In Southern Asia, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is heavily influenced by the region's diverse and vibrant food culture. Countries like India and Thailand have a strong tradition of street food and quick, on-the-go meals, which has translated into a demand for convenient and ready-to-eat options. Additionally, regulatory restrictions on street food vendors in these countries have also contributed to the growth of the ready-to-eat market. In contrast, countries like Sri Lanka and Bangladesh have a strong preference for freshly cooked meals, resulting in a smaller market for ready-to-eat meals.

Underlying macroeconomic factors:
The Ready-to-Eat Meals Market of the Convenience Food Market within The Food market in Southern Asia is influenced by macroeconomic factors such as changing consumer lifestyles, rising disposable incomes, and urbanization. These factors have led to a growing demand for convenient and easily accessible food options, including ready-to-eat meals. Additionally, government initiatives promoting food safety and hygiene, along with increasing investments in the food industry, are also driving market growth. Furthermore, the rise of e-commerce and online food delivery services has further boosted the demand for ready-to-eat meals in the region. The growing population and increasing urbanization rates are expected to continue driving the market in the future.

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.

Key Market Indicators

Notes: Based on data from IMF, World Bank, UN and Eurostat

Most recent update: Sep 2024

Source: Statista Market Insights

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