Ready-to-Cook Food Market – Exclusive Report by 360iResearch- Exclusive Report by 360iResearch
The Global Ready-to-Cook Food Market to grow from USD 10.20 billion in 2022 to USD 19.15 billion by 2030, at a CAGR of 8.19%.
PUNE, MAHARASHTRA, INDIA, November 18, 2023 /EINPresswire.com/ — The “Ready-to-Cook Food Market by Type (Conventional, Traditional), Meal Type (Non-Vegetarian, Vegetarian), Product Type, Distribution Channel – Global Forecast 2023-2030” report has been added to 360iResearch.com’s offering.
The Global Ready-to-Cook Food Market to grow from USD 10.20 billion in 2022 to USD 19.15 billion by 2030, at a CAGR of 8.19%.
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Ready-to-cook (RTC) food refers to a wide range of pre-prepared and partially cooked ingredients that significantly reduce the time and effort required for consumers to prepare a complete meal. The increasing consumer preference for convenience-oriented products and the growing presence of RTC on eCommerce platforms have provided easier access to a broader variety of RTC food options at competitive prices that significantly increase the adoption of ready-to-cook food. However, concerns about the freshness and quality of ingredients and potential contamination during transport or storage may hinder the RTC food adoption. Nevertheless, innovation and development of RTC food products with advancements in packaging create potential opportunities for the growth of the ready-to-cook (RTC) food market.
Product Type: Burgeoning utilization of instant noodles and soups due to their affordability and longer shelf life
Baked goods in the ready-to-cook segment offer convenience to consumers who value delicious home-baked products without the hassle of preparing raw ingredients. These products include pre-made doughs, mixes, and frozen items that only require baking or heating before consumption. The desserts and sweets category in the ready-to-cook food market contains instant pudding mixes, cake batters, and frozen treats that require minimal preparation before serving. Instant noodles and soups are popular ready-to-cook items known for their affordability, long shelf life, and ease of preparation. They cater to consumers who seek convenient meal solutions with minimal cleanup. The meat and poultry segment in the ready-to-cook food market comprises marinated meats, pre-portioned cuts, and frozen items that require cooking before consumption. These products offer convenience to consumers who prefer home-cooked meals however take more time for extensive meal prep.
Distribution Channel: Evolving online distribution channels for Ready-to-cook (RTC) food
The offline distribution channel in the ready-to-cook food market primarily consists of supermarkets, hypermarkets, and convenience stores. The need-based preference for this channel is driven by consumers who value the experience of browsing through various products, inspecting packaging, and making instant purchase decisions based on physical aspects. The online distribution channel for ready-to-cook food encompasses eCommerce platforms and direct-to-consumer websites operated by manufacturers or specialized meal-kit providers. The need-based preference for this channel is driven by tech-savvy consumers who appreciate the convenience of doorstep delivery, easy payment options, personalized recommendations based on previous purchases or dietary choices, and access to detailed product information and reviews. Offline channels cater to customers who value the tactile experience of browsing through products, whereas online channels appeal to those who prioritize convenience, personalization, and access to detailed product information.
Meal Type: Increasing adoption of the vegetarian sector owing to its low-fat content and higher fiber intake
Non-vegetarian ready-to-cook food comprises pre-packaged meals containing meat, poultry, or seafood ingredients. They cater to busy-conscious consumers who prefer time-saving meal solutions without compromising taste and nutrition. Vegetarian ready-to-cook food includes plant-based meals using vegetables, legumes, nuts, seeds, and grains. With the rise in health awareness and ethical concerns about animal welfare and environmental sustainability, this segment has gained significant traction in recent years. The non-vegetarian part exhibits higher protein content; however, it raises concerns about cholesterol levels due to animal fat consumption. Non-vegetarian ready-to-cook food offers a traditional choice for consumers, whereas vegetarian options align with the growing trend of sustainability and ethical consumption.
Type: High usage of conventional ready-to-cook food owing to its time-saving benefits
Conventional ready-to-cook food includes products that are easy to prepare and require minimal cooking time, such as instant noodles, canned soups, pasta kits, and frozen pizzas. These products cater to time-starved and convenience-seeking consumers who prefer quick meal solutions without spending too much time in the kitchen. The traditional ready-to-cook food segment consists of ethnic or regional dishes that require more preparation steps than conventional counterparts; however, they offer time-saving benefits compared to cooking from scratch. Products under this category include spice mixes, marinades, curry pastes, and meal kits with pre-portioned ingredients.
The ready-to-cook food market is evolving in the Americas due to changing consumer preferences, busy lifestyles, and the adoption of convenient meal solutions. The ready-to-cook food market in the European Union (EU) countries is thriving due to an emphasis on convenience and increasing availability of tailored options for vegetarian, low-calorie, and gluten-free meals. In the Middle East, there has been a rise in investments towards expanding local ready-to-cook food businesses and the proliferation of the hospitality sector, raising demand for ready-to-cook food in the region. Africa’s ready-to-cook food landscape is developing rapidly, driven by urbanization and increased demand for convenience foods among working professionals and availability on several online platforms offering weekly meal kit deliveries containing fresh ingredients accompanied by easy-to-follow recipes. The ready-to-eat foods market is growing in the APAC region with the presence of well-established companies offering convenient meal solutions and a shift of consumers towards innovative offerings featuring local ingredients and authentic recipes. Besides, the technological advancements and improvements in packaging materials to enhance shelf life and support sustainability goals are anticipated to encourage the use of ready-to-cook food by consumers worldwide.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Ready-to-Cook Food Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Ready-to-Cook Food Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Ready-to-Cook Food Market, highlighting leading vendors and their innovative profiles. These include Bakkavor Foods Ltd., Bambino Agro Industries Ltd., CG Corp., DARSHAN FOODS PVT. LTD., Desai Foods Pvt Ltd., Gits Food Products Pvt. Ltd., Godrej Agrovet Ltd., Hindustan Unilever Ltd., iD Fresh Food (India) Pvt. Ltd., IndianFarm Foods Pvt. Ltd., ITC Ltd., Kohinoor Foods Ltd., Maiyas Beverages and Foods Pvt. Ltd., McCain Foods Ltd., MTR Foods Pvt. Ltd., NatureRaised Farms, Nestle S.A., Nomad Foods Limited, Pink Harvest Farms, Raised & Rooted, Regal Kitchen Foods Ltd., Tasty Tales, Tat Hui Foods Pte. Ltd., TataQ, TOPCHOP, and Tyson Foods, Inc..
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Market Segmentation & Coverage:
This research report categorizes the Ready-to-Cook Food Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across Conventional and Traditional. The Traditional is projected to witness significant market share during forecast period.
Based on Meal Type, market is studied across Non-Vegetarian and Vegetarian. The Non-Vegetarian is projected to witness significant market share during forecast period.
Based on Product Type, market is studied across Baked Goods, Desserts & Sweets, Instant Noodles & Soups, and Meat & Poultry. The Baked Goods is projected to witness significant market share during forecast period.
Based on Distribution Channel, market is studied across Offline and Online. The Offline is further studied across Convenience Stores and Supermarkets & Hypermarkets. The Offline is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 36.52% in 2022, followed by Asia-Pacific.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Ready-to-Cook Food Market, by Type
7. Ready-to-Cook Food Market, by Meal Type
8. Ready-to-Cook Food Market, by Product Type
9. Ready-to-Cook Food Market, by Distribution Channel
10. Americas Ready-to-Cook Food Market
11. Asia-Pacific Ready-to-Cook Food Market
12. Europe, Middle East & Africa Ready-to-Cook Food Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Ready-to-Cook Food Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Ready-to-Cook Food Market?
3. What is the competitive strategic window for opportunities in the Ready-to-Cook Food Market?
4. What are the technology trends and regulatory frameworks in the Ready-to-Cook Food Market?
5. What is the market share of the leading vendors in the Ready-to-Cook Food Market?
6. What modes and strategic moves are considered suitable for entering the Ready-to-Cook Food Market?
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Mr. Ketan Rohom
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