The ready-to-eat food market has been experiencing significant growth in recent years due to changing consumer preferences, busy lifestyles, and an increase in the number of working individuals. The convenience factor associated with ready-to-eat meals has been driving the market, as they provide easy and quick solutions for meals. Additionally, the COVID-19 pandemic has further accelerated the demand for ready-to-eat meals as more people are cooking at home and seeking convenient, healthy, and shelf-stable options. However, concerns over the nutritional value and safety of these meals may hamper market growth. Manufacturers are responding to these concerns by improving the quality of their products and introducing new and innovative options to meet changing consumer needs. The market is expected to continue to grow in the coming years.
Global Ready To Eat Food Market was valued at US$ 138407.62 Million in 2021 in terms of revenue, exhibiting a CAGR of 6.8 % during the forecast period (2022 to 2030).
Prominent Players in the Ready To Eat Food Industry:
1. Nomad Foods Ltd.
Nomad Foods is a UK-based frozen foods company that was founded in 2014. The company's headquarters are located in Feltham, Middlesex, UK. Nomad Foods operates in 17 countries across Europe, including the UK, Germany, Italy, and Spain. In recent years, the company has been focused on growing its business through acquisitions. For example, in 2020, Nomad Foods acquired Fortenova Group's Frozen Food Business, which operates in Croatia, Serbia, Bosnia and Herzegovina, and Montenegro.
2. Bakkavor Foods Ltd.
Bakkavor Foods is a UK-based food manufacturing company that was founded in 1986. The company's headquarters are located in London, UK. Bakkavor Foods operates in 10 countries across Europe, North America, and Asia. The company's product portfolio includes fresh prepared foods, pizzas, bread, desserts, and dips. In recent years, Bakkavor Foods has been focused on expanding its product portfolio through new product development and acquisitions.
3. General Mills
General Mills is a US-based food company that was founded in 1866. The company's headquarters are located in Minneapolis, Minnesota, USA. General Mills operates in more than 100 countries around the world. The company's product portfolio includes cereals, snacks, yogurt, and baking products. In recent years, General Mills has been focused on expanding its business through acquisitions. For example, in 2018, the company acquired Blue Buffalo, a natural pet food company.
4. McCain Foods
McCain Foods is a Canadian-based frozen foods company that was founded in 1957. The company's headquarters are located in Florenceville-Bristol, New Brunswick, Canada. McCain Foods operates in more than 160 countries around the world. The company's product portfolio includes frozen french fries, appetizers, and vegetables. In recent years, McCain Foods has been focused on sustainability and reducing its carbon footprint.
5. Premier Foods Group Ltd.
Premier Foods is a UK-based food company that was founded in 1975. The company's headquarters are located in St Albans, Hertfordshire, UK. Premier Foods operates in the UK and Ireland. The company's product portfolio includes soups, sauces, and cakes. In recent years, Premier Foods has been focused on expanding its product portfolio through new product development and acquisitions.
6. 2 Sisters Food Group
2 Sisters Food Group is a UK-based food company that was founded in 1993. The company's headquarters are located in Birmingham, UK. 2 Sisters Food Group operates in the UK, Ireland, and the Netherlands. The company's product portfolio includes poultry, red meat, fish, and chilled foods. In recent years, 2 Sisters Food Group has been focused on improving its sustainability practices.
7. Greencore Group Plc.
Greencore Group is a UK-based food company that was founded in 1991. The company's headquarters are located in Dublin, Ireland. Greencore Group operates in the UK and the US. The company's product portfolio includes sandwiches, salads, and chilled prepared meals. In recent years, Greencore Group has been focused on improving its profitability through cost reduction initiatives.
8. Orkla ASA
Orkla ASA is a Norwegian-based food company that was founded in 1654. The company's headquarters are located in Oslo, Norway. Orkla ASA operates in more than 40 countries around the world. The company's product portfolio includes branded consumer goods, ingredients, and solutions. In recent years, Orkla ASA has been focused on expanding its business through acquisitions. In 2019, the company acquired the Swedish vegan food company Anamma AB.
*Definition- Ready-to-eat food refers to meals that are pre-prepared and require minimal to no further cooking or preparation before consumption. These meals are designed for convenience and quick consumption, often with a longer shelf life due to preservation techniques.
