The “Prepared Meals Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Prepared Meals Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global prepared meals market size was US$ 171.1 million in 2021. The global prepared meals market is forecast to grow to US$ 371.8 million by 2030 by registering a compound annual growth rate (CAGR) of 7.1% during the forecast period from 2022 to 2030.
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Because they are precooked, prepared meals are a cost-effective alternative meal that takes less time to get prepared. These meals have a high shelf life and are available throughout the year.
Factors Influencing the Market
Rising consumer disposable income and busy lifestyles of people, will primarily drive the demand for prepared meals during the forecast period.
The fact that prepared meals have a high shelf life; take less time to get prepared, and are available in different varieties, will fuel the growth of the global market.
The growing trend of convenience food and increasing working population will escalate the demand for ready-to-eat meals. As a result, it will benefit the prepared meals market during the study period. On the contrary, negative health effects of prepared meals may limit the growth of the prepared meals market during the study period.
Growing urbanization and rising demand for food will also offer lucrative growth opportunities for the prepared meals market.
COVID-19 Impact Analysis
The sudden onset of the COVID-19 pandemic affected various countries, which upsurged the demand for food. Recognizing the gravity of the situation, authorities imposed a nationwide lockdown which continued for a significant time. As a result, it resulted in the shutdown of restaurants, cafes, and other eateries. Precooked meals emerged as a right alternative for the fast food as consumers started stocking up their shelves with packaged meals. Moreover, the higher shelf life and convenience in cooking emerged as the prominent advantages that surged the adoption of the products during the COVID-19 pandemic.
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Regional Analysis
The Asia-Pacific prepared meals market is forecast to hold the highest market share. The growth of this regional market is attributed to the region’s financially strengthening consumer base. A growing population, rising customer disposable income, fast industrialization, and increased awareness of ready-to-eat meals are all contributing to the area market’s growth. Europe is expected to increase its contribution to the prepared meals market in the coming years as a result of the launch of novel items such as frozen veggies and salads. In addition, the rising demand for gluten-free meat is expected to offer lucrative growth opportunities for the industry players thriving in the market.
Competitors in the Market
? Nestle S.A.
? Kraft Heinz Company
? Chao Xiang Yuan Food Co. Ltd.
? Dr. Oetker
? BRF S.A.
? Berkshire
? Green Mill Foods
? General Mills
? Other Prominent Players
Market Segmentation
The global prepared meals market segmentation focuses on Product, Meal Type, Distribution Channel, and Region.
Product Outlook
? Frozen
? Chilled
? Canned
? Shelf-stable
Meal Type Outlook
? Vegetarian
? Non-vegetarian
? Vegan
Distribution Channel Outlook
? Supermarkets & Hypermarkets
? Convenience Stores
? Online
? Others
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By Region
�?� North America
o The U.S.
o Canada
o Mexico
�?� Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
�?� Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
�?� Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
�?� South America
o Brazil
o Argentina
o Rest of South America
What is the goal of the report?
? The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
? During the forecast period, the report analyzes the growth rate, market size, and market valuation.
? The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
? The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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