Key regions: Russia, United States, United Kingdom, Canada, India
The Ready-to-Eat Meals Market in the UK is experiencing minimal growth due to factors such as changing consumer preferences, lower disposable incomes, and increased competition from other convenience food options. This negligible growth rate is impacted by the shift towards healthier and fresher food choices, as well as the convenience of home-cooked meals.
Customer preferences: The Ready-to-Eat Meals Market in the Convenience Food Market within The Food market has seen a rise in demand for healthier and more diverse options, driven by consumers' increasing focus on health and wellness. This trend has led to an influx of plant-based and gluten-free options, as well as a preference for locally sourced and sustainable ingredients. Additionally, the rise of on-the-go snacking and meal replacement options has been fueled by busy lifestyles and a desire for convenience.
Trends in the market: In the United Kingdom, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is seeing a surge in demand for plant-based and vegetarian options, as consumers become more health-conscious and environmentally aware. This trend is expected to continue, with industry players expanding their product offerings to cater to this growing market segment. Additionally, there is a rise in online ordering and delivery services for ready-to-eat meals, as convenience becomes a key factor for consumers. This shift towards healthier and more convenient options has significant implications for industry stakeholders, who must adapt to changing consumer preferences and invest in innovative solutions to stay competitive in the market.
Local special circumstances: In the United Kingdom, the Ready-to-Eat Meals market is heavily influenced by the country's fast-paced lifestyle and growing demand for convenience. With a high proportion of working professionals and busy households, there is a strong preference for easily prepared meals that require minimal cooking time. The UK also has a strong culture of on-the-go eating, leading to a significant demand for portable and ready-to-eat options. In addition, the UK's strict food safety regulations ensure high quality and safety standards for all convenience food products sold in the market.
Underlying macroeconomic factors: The growth of the Ready-to-Eat Meals Market within the Convenience Food Market is heavily impacted by macroeconomic factors such as changing consumer preferences, disposable income levels, and economic stability. Countries with a strong economy and high disposable income are experiencing a higher demand for convenience foods, including ready-to-eat meals. Additionally, the rise in dual-income households and busy lifestyles has led to an increase in demand for convenient and time-saving meal options. Furthermore, government initiatives promoting healthy eating habits and increasing health consciousness among consumers are also driving the growth of the Ready-to-Eat Meals 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.
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