According to the latest report by IMARC Group, titled “Ready to Eat (RTE) Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, the global ready to eat (RTE) food market reached a value of US$ 162 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 5.4% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Ready-to-eat (RTE) food refers to processed and packaged food items that require minimal or no further preparation. The ingredients used in these food products are cooked, processed, frozen, and then packed into containers for direct consumption later. Meat products, powder mixes, desserts, dairy products, shelf-stable foods, baked goods, cheese, etc., are some common ready-to-eat variants. They are rich in flavors, antioxidants, extracts, preservatives, sweeteners, and acids. Ready-to-eat food products offer convenience, reduce meal preparation time, provide longer shelf-life, and allow minimal wastage and spoilage.
The elevating levels of urbanization, along with the hectic consumer work schedules and sedentary lifestyles, are primarily driving the market for RTE food products. Additionally, the rising working women population and the improving consumer living standards are also propelling the product demand on a global level. Moreover, the growing number of quick-service restaurants (QSRs), along with the emerging café culture, is further augmenting the demand for RTE food products that require minimal preparation time and allow faster customer service. Besides this, the emergence of numerous innovative product variants, such as gluten-free, vegan, organic, and lactose-free RTE food items, will continue to drive the global market in the coming years. Looking forward, IMARC Group expects the global ready to eat (RTE) food market to continue its moderate growth during the next five years.
Ready to Eat (RTE) Food Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the ready to eat (RTE) food market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- 2 Sisters Food Group (Boparan Holdings)
- ADF Foods Ltd.
- Bakkavor Foods Ltd.
- Birds Eye Ltd.
- Findus Group Ltd.
- General Mills, Inc.
- Greencore Group Plc.
- ITC Limited
- McCain Foods
- MTR Foods Pvt Ltd. (Orkla ASA)
- Nomad Foods Ltd.
- Premier Foods Group Ltd.
Key Market Segmentation:
The report has segmented the ready to eat (RTE) food market on the basis of product type, packaging type, distribution channel and region.
Breakup by Product Type:
- Meat/Poultry Based
- Cereal Based
- Fruits/Vegetable Based
Breakup by Packaging Type:
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Food Specialty Stores
- Departmental Stores
- Online Stores
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/ready-to-eat-food-market
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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