Dinner Ready-To-Eat Food Market

Dinner Ready-To-Eat Food Market Research Analysis 2022 - 2027:

Dinner Ready-To-Eat Food Market is anticipated to reach over USD 172 billion, progressing at a CAGR of 4.3% throughout the outlook period (2022 - 2027).

Ready-to-eat foods are packaged cooked foods that do not require additional processing to ensure quality. It can be refrigerated, has a long shelf life, requires minimal heating, or is served hot. Some foods need to be stored in the refrigerator or freezer until use, but some require special handling to ensure food quality. This includes foods such as baked goods, meat and animal products, non-perishable foods, desserts, cheese, and dairy products. Dairy products have variations in their storage requirements.

Recent Developments

1. Nestlé USA announced that it acquired freshly for $ 1.5 billion - $ 950 million plus potential earnings of up to $ 550 million depending on future growth. Founded in 2015, freshly is a New York-based startup that offers healthy meals delivered to your home in weekly orders, which can then be prepared in minutes in your microwave or oven.
2. Hicago's Factor75, a prepared foods start-up, is acquired by HelloFresh in a deal worth up to $ 277 million. Berlin-based food kit company HelloFresh announced that its US subsidiaries have agreed to acquire Factor75 in a bid to strengthen the company's presence in the United States.
3. Mars Food signed a definitive agreement to acquire Preferred Brands International, a fully integrated manufacturer and distributor based in Stamford, Connecticut, of all-natural, ready-to-heat Indian and Asian food products sold primarily under the Tasty Bite brand. The Tasty Bite's® range includes a wide range of vegetarian options including Indian / Asian dishes, spice kits and simmer, as well as organic rice and lentils.
4. The Federal Trade Commission filed an administrative complaint challenging Post Holdings, Inc.'s proposed acquisition of TreeHouse Foods, Inc.'s private label ready-to-eat cereal business Post and TreeHouse are two of the top three manufacturers and distributors. Ready-to-eat cereal from a store brand in the United States. The acquisition would give Post more than 60% of an already highly concentrated market and would eliminate vigorous competition between them to serve supermarkets nationwide.
5. Walmart said it is launching a new variety of ready-to-heat and eat meals and food kits in more than 2,000 stores this year. In addition to four varieties of portioned meal kits that include the ingredients needed to make a dinner for two, the Expanded Meal Plan also includes ingredient packages to turn your pre-cooked roast chickens into complete meals and 10 varieties of hot and cold dishes hot eat meals, no assembly required.

REPORT COVERAGE:

Market Drivers and Restraints:

The main factor driving the global Dinner Ready-To-Eat Food market is people's changing consumption patterns due to people's busy lifestyles and busy work schedules. Increasing employment rates in recent years around the world are driving people to switch to ready-to-eat food products to save time. This increased inclination of people towards ready-to-eat foods opens up new opportunities for manufacturers in the global market for Dinner Ready-To-Eat Food. Manufacturers offer attractive and innovative ready-to-eat dishes to broaden their consumer base. Many new entrants are offering cutting edge competition to established manufacturers with their latest menu of ready-to-eat meals. All these factors are driving the growth of the worldwide Dinner Ready-To-Eat Food business. The market is expected to experience significant growth during the conjecture period due to the ease of availability of these food products globally. Additionally, convenience and ready-to-eat foods are viewed by people as a profitable alternative and are therefore expected to drive industry growth. The emergence of COVID-19 has led people to adopt healthy and nutritious diets. This growing trend of people is leading manufacturers to incorporate ready-to-eat foods based on nutrients and flavors instead of changing consumers' preferences for healthy eating. The growing adoption of 3D printing technology is likely to drive global market growth over the anticipated years. 3D food printers have machines that can turn food into a healthy puree called soft food and furthermore, they also reduce greenhouse gas emissions. These trends in the Dinner Ready-To-Eat Food Market are supposed to positively influence market growth over the outlook period.

Market Segmentation:

The Global Dinner Ready-To-Eat Market Food can be segmented by type, distribution channel and region.

By type, the market can be segmented into canned, chilled and frozen. The frozen type has the largest market share and is likely to dominate the market during the forecast period. There is a growing demand for frozen ready meals for dinner due to their long shelf life. It is expected to remain lucrative due to the increasing demand for essential food storage due to the COVID-19 pandemic.

By distribution channel, the market can be segmented into e-commerce, supermarkets, specialized stores and department stores. The e-commerce segment has the largest market share due to convenience amid the coronavirus crisis.

Impact of COVID-19 on Dinner Ready-To-Eat Food Market

The coronavirus outbreak began in Wuhan, China, in December 2019 and has since spread at a rapid pace around the world. As of August 2020, the United States, Brazil, India, Russia, Spain and the United Kingdom are among the most affected countries in terms of confirmed cases and reported deaths. The COVID-19 outbreak has affected economies and industries in several countries due to lockdowns, travel bans, and business closures. Food and beverages is one of the world's leading industries experiencing severe disruptions, such as supply chain disruptions, technology event cancellations, and office closures, as a result of this outbreak. For example, China is the world's manufacturing center and the largest supplier of raw materials for various industries and is also one of the worst affected countries. The closure of several factories and factories in China is impacting global supply chains and negatively affecting the manufacturing, delivery times and sales of various materials. Several companies have already announced possible delays in product deliveries and a decrease in future sales of their products. In addition to this, global travel bans imposed by countries in Europe, Asia and North America affect business collaborations and partnership opportunities. All of these factors are expected to negatively affect the industries and thus act as a stressor for the growth of the dinner ready-to-eat-food market.

Regional Analysis:

The global Dinner Ready-To-Eat Food market has been divided on the basis of geography as North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. North America has the largest share of the ready-to-eat food market. The United States is the largest market in North America due to technological innovations, busy lifestyles, and high disposable income. The European region is also an important market for dinner ready-to-eat food. One of the main distribution channels, online stores in Europe, is considered a major source of ready-to-eat products, which can be ordered at your convenience and received quickly. The developing regions of South America and Asia-Pacific are also strong markets. The Asia Pacific region, led by countries such as China and India, is growing rapidly due to rapid urbanization and changing demographics and eating habits of consumers in the region.

Leading Company

Hormel Food Corporation had the largest share of the Dinner Ready-To-Eat Food Market in terms of sales and revenue in 2019.

Key Players

Major players in the Dinner Ready-To-Eat Food Market include Findus Group, Hormel Food Corporation, Tyson Food Inc., General Mills Inc., Koninklijke Philips N.V., JBS, Sigma Alimentos S.A de C.V., Greencore Group Plc, The Kraft Heinz Company, Unilever NV, Smithfield Food Inc., Schwan’s Shared Services, Nestle SA, and ITC Limited.