At a CAGR of 7.3%|Global Ready to Eat Food Market Projected to Worth USD 172 Billion by 2023

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Research Nester

Mar 18, 2020, 06:52 EST

New York, United States, Mar 18, 2020, 06:52 /Comserve / -- Ready to eat food market is anticipated to mask a significant CAGR of 7.3% during the forecast period i.e. 2016-2023.

The global Ready to eat food Market is segmented in By Product:-Meat/Poultry Products, Cereal Based Products, Vegetable Based Products, Others; By Processed Food:-Canned, Frozen or Chilled, Retort, Others; By Packaging Material:-Plastics, Glass, Metals, Paper Base, Others; By Distribution Channel:-Hypermarket/Supermarket, Convenience/Departmental Store, Specialty Store, Online Store, Others and by regions. Ready to eat food market is anticipated to mask a significant CAGR of 7.3% during the forecast period i.e. 2016-2023.

Ready to eat food industry consists of the food that does not require additional cooking and can be eaten on opening the packages. These foods are packaged in air tight sealed container or packages for increasing their shelf life. It helps in saving time and energy of the consumers. The changing urban lifestyle of the present population with increasing disposable income is expected to increase the ready to eat food market growth across the globe.

North America is projected to be the highest share holder in the Ready to Eat Food Market owing to the busy lifestyles of people as well as high disposable income of population in the North-American region. North-America is followed by Europe in terms of revenue generation by the ready to eat food market. Asia-Pacific is expected to be the most lucrative market of the region due to rapid urbanization and changing consumer eating habits in the region.

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Increasing Urban Population & Employment Opportunities

Growing urbanization is increasing the disposable income of the consumers which ultimately increases the consumer’s expenditure on such products. Rising employment opportunities are increasing the demand for on the go convenience foods, thus propelling the ready to eat food market. Further, increase in the number of working women and busy work schedules are anticipated to robustly increase the market growth across the globe.

However, increasing health consciousness amongst the consumers along with awareness about positive effects of eating freshly cooked food are some of the factors that can slow down the growth rate of the ready to eat food market worldwide.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global ready to eat food market which includes company profiling of Nomad Foods Ltd., Bakkavor Foods Ltd., General Mills Inc., McCain Foods., Premier Foods Group Ltd., 2 Sisters Food Group., Greencore Group Plc., Orkla ASA, ConAgra Foods Inc., Teleflex Incorporated.

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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global ready to eat food market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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