North America and Europe Ready Meals Market is predicted to reach USD 42,650.48 38.49 million at a CAGR of 4.52% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global North America and Europe Ready Meals Market”.

Market Synopsis

According to the MRFR analysis, the North America and Europe Ready Meals market was valued at USD 27,483.89 million in 2022 and is projected to reach USD 42,650.48 38.49 million by 2032 at a CAGR of 4.52%.

The key factors driving the growth of the Ready Meals market include the increasing pace of life and the growing demand for convenience among consumers leading busy lifestyles. Additionally, the rise in single-person households and the desire for minimal meal preparation time are significant drivers. Innovations in packaging technology that extend shelf life and maintain food quality, along with a growing emphasis on healthier meal options with organic and plant-based ingredients, are further propelling the market. However, regional differences emerge in consumer preferences, such as North Americans' inclination towards comfort foods, while Europeans may prioritize dishes with local and sustainable ingredients.

COVID-19 Impact on the Ready Meals Market

The COVID-19 pandemic has had a profound impact on the market demand for ready meals in North America and Europe. With the enforcement of lockdown measures, social distancing guidelines, and work-from-home arrangements, consumer behavior and preferences have undergone significant changes, influencing the demand dynamics of ready meals. Initially, there was a surge in demand for ready meals as consumers stockpiled food items and sought convenient meal solutions amidst the uncertainty of the pandemic. Ready meals, known for their convenience and longer shelf life, emerged as a popular choice for consumers looking to minimize grocery shopping trips and reduce meal preparation time at home. However, as the pandemic prolonged and consumer habits evolved, the demand for ready meals experienced fluctuations influenced by various factors. On one hand, economic uncertainties, job losses, and income constraints led some consumers to prioritize cost-effective home-cooked meals over pre-packaged options, resulting in a temporary decline in demand for ready meals.

On the other hand, the closure of restaurants, cafes, and food service establishments compelled consumers to seek alternative dining options, driving up the demand for ready meals as a substitute for dine-in experiences. Additionally, the shift towards remote work and virtual social gatherings further contributed to the demand for convenient meal solutions that require minimal preparation. Furthermore, changing dietary preferences and health-conscious consumer trends have influenced the demand for ready meals with healthier ingredients, organic options, and ethnic flavors. Manufacturers have responded by innovating and diversifying their product portfolios to cater to evolving consumer preferences and capture market share.

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Competitive Landscape

The North America and Europe ready meals market is characterized by the presence of many global, regional, and local vendors. The market is very competitive, and all players are competing to win the biggest market share. Intense competition and frequent changes in government policies and regulations are the major factors influencing market growth. Suppliers compete based on price, product quality, reliability, and aftermarket services. Vendors must offer cost-effective and high-quality convenience foods to maintain their presence in the fierce competition. The key players operating in the North America and Europe Ready Meals market comprise General Mills Inc. (United States), Nestle S.A (Switzerland), Conagra Brands, Inc. (United States), Quaker Oats Company (United States), Iceland Foods Ltd. (UK), Archer-Daniels-Midland Company (United States), Kellanova (United States), Cirio UK (UK), Seneca Foods Corporation (United States), Del Monte Foods Inc. (United States), and among others.

Segmentation

By Source

1. Legumes: Legumes are a vital part of the human diet and play a significant role in the ready meals market due to their nutritional value, versatility, and widespread availability. Beans, including varieties such as black beans, kidney beans, and pinto beans, are rich in protein, fiber, vitamins, and minerals. They serve as a primary ingredient in many ready-to-eat meals, ranging from soups and stews to salads and burritos. Chickpeas, also known as garbanzo beans, are a staple in Mediterranean and Middle Eastern cuisines, often used in dishes like hummus and falafel. Peas, whether green peas or split peas are commonly found in soups, casseroles, and pasta dishes due to their sweet flavor and tender texture. Legumes are further divided into Beans, Chickpeas, Peas, and Others.


2. Grains: Grains are another essential component of ready meals, providing carbohydrates, fiber, and essential nutrients. Oats are a popular grain choice known for their high fiber content and cholesterol-lowering properties. They are commonly used in breakfast items like oatmeal, granola bars, and breakfast cookies. Wheat, in various forms such as flour, pasta, and bread, is a staple in many cuisines worldwide and serves as a base for numerous ready-to-eat meals. Corn, both fresh and processed into products like tortillas, cornmeal, and popcorn, adds sweetness and texture to a wide range of dishes. Rice, a staple food for billions of people globally, is a versatile ingredient used in pilafs, stir-fries, sushi, and risotto. Grains are further divided into Oats, Wheat, Corn, Rice, and Others.

By Category

1. Ready to Eat: Ready to Eat (RTE) meals are pre-cooked, packaged meals that require minimal to no preparation before consumption. These meals are designed to offer convenience and time-saving benefits to consumers with busy lifestyles or those looking for quick meal solutions. RTE meals typically include a wide range of options, including frozen dinners, canned soups, microwaveable meals, and pre-packaged salads. One of the key advantages of RTE meals is their convenience. Consumers can simply heat and eat these meals without the need for extensive cooking or meal preparation. This convenience factor makes RTE meals popular among busy professionals, students, and individuals with limited cooking skills or time constraints. Additionally, RTE meals often come in single-serving portions, making them suitable for individuals or small households.


2. Ready to Cook: Ready to Cook (RTC) meals offer consumers the flexibility and satisfaction of preparing meals from scratch while minimizing the time and effort required for meal planning and ingredient preparation. RTC meals typically consist of pre-portioned ingredients and recipe instructions that allow consumers to quickly assemble and cook a homemade meal without the hassle of shopping for individual ingredients or following complex recipes. One of the primary advantages of RTC meals is their freshness and customization options. By providing pre-measured ingredients and recipe guidelines, RTC meal kits enable consumers to experience the joy of cooking while maintaining control over the ingredients and flavors incorporated into their meals. This level of customization appeals to consumers seeking a balance between convenience and culinary creativity.

By Nature

1. Organic: Organic ready meals are a subset of the market that focuses on products made from ingredients grown and processed without the use of synthetic pesticides, fertilizers, or genetically modified organisms (GMOs). These products are produced according to strict organic standards, which emphasize environmentally sustainable practices, animal welfare, and the preservation of natural ecosystems. Organic ready meals appeal to consumers who prioritize health, environmental sustainability, and ethical considerations in their food choices. They are often perceived as healthier alternatives to conventional ready meals due to the absence of synthetic chemicals and additives.


2. Conventional: Conventional ready meals, on the other hand, represent a broader segment of the market that encompasses a wide range of convenient meal options. Unlike organic ready meals, conventional ready meals contain ingredients produced using conventional agricultural practices, including the use of synthetic pesticides, fertilizers, and GMOs. While these products offer convenience and affordability, they may not always align with consumer preferences for natural, organic, or sustainably sourced ingredients.

By End-User

1. Residential: The residential segment encompasses households and individuals who purchase ready meals for consumption within their homes. This segment has witnessed significant growth in recent years owing to changing lifestyles, busy schedules, and an increasing number of dual-income households. Ready meals offer convenience, time-saving benefits, and a wide variety of options for consumers who do not have the time or inclination to prepare meals from scratch. In North America and Europe, where the pace of life is often fast and time is at a premium, the residential segment represents a substantial portion of the ready meals market. Consumers in this segment seek diverse cuisines, dietary options, and convenient packaging that aligns with their preferences and dietary restrictions. Moreover, with the rise of online grocery shopping and meal delivery services, accessing ready meals has become more convenient, further fueling the growth of the residential segment.


2. Commercial: hospitals, and other food service providers that offer ready meals to their customers or patrons. This segment accounts for a significant portion of the overall ready meals market, catering to diverse consumer preferences and dietary requirements in various settings. In North America and Europe, the commercial segment benefits from the growing demand for convenient and quick meal options among consumers who dine out frequently or rely on food service providers for their meals. Restaurants and cafes often incorporate ready meals into their menus to offer customers a broader selection of choices while streamlining kitchen operations and reducing preparation time. Similarly, institutions such as schools and hospitals rely on ready meals to provide nutritious and convenient meal options to students, patients, and staff members. The commercial segment is characterized by the need for consistency, quality, and efficiency in meal preparation and service, driving food service providers to partner with reliable suppliers and manufacturers of ready meals.

By Pricing

1. Economy/Mass: The Economy/Mass segment of the ready meals market comprises products that are priced affordably and cater to a broad consumer base seeking convenience without substantial expenditure. These meals are typically manufactured using cost-effective ingredients and production methods, allowing companies to offer them at competitive prices. Economy/Mass ready meals often target budget-conscious consumers, students, and individuals looking for quick and convenient meal options without compromising taste or nutritional value. These products are widely available in supermarkets, grocery stores, and discount retailers, making them accessible to a wide demographic. In terms of variety, Economy/Mass ready meals encompass traditional comfort foods, such as frozen pizzas, microwaveable pasta dishes, and pre-packaged sandwiches.


2. Premium: The premium category of ready meals targets discerning consumers willing to pay a higher price for superior quality, gourmet ingredients, and elevated culinary experiences. Premium ready meals are characterized by their emphasis on freshness, authenticity, and artisanal craftsmanship, often featuring organic produce, grass-fed meats, and exotic spices sourced from sustainable suppliers. Manufacturers invest in innovative recipes, culinary expertise, and premium packaging to differentiate their products and create a sense of exclusivity and indulgence. The Premium segment caters to consumers seeking restaurant-quality meals that can be conveniently prepared at home without compromising on taste or nutritional value.

By Distribution Channel

1. 
   

   Store-Based: They provide convenience to consumers by offering a one-stop shopping experience where customers can find everything they need in one location. These stores often have dedicated sections for ready meals, making it easy for consumers to browse and choose from different options based on their preferences and dietary needs. These stores cater to niche markets and often offer unique and high-quality ready-meal options that are available in traditional supermarkets. Specialty stores attract consumers who are looking for specialized products and are willing to pay a premium for higher quality and unique ingredients. They are further classified into Supermarkets & Hypermarkets, Specialty Stores, and Convenience Stores.

   
   


2. 
   

   Non-Store Based: In the ready meals market, e-commerce platforms allow consumers to browse, select, and purchase ready meals online from the comfort of their homes or mobile devices. E-commerce platforms offer convenience and flexibility, allowing consumers to access a wide variety of ready-meal options from different brands and suppliers. With the growing popularity of online shopping, e-commerce has become an important distribution channel for ready meals, catering to consumers who prefer the convenience of online shopping and home delivery. Many ready meal manufacturers and brands have websites where consumers can directly purchase products. These company-based websites serve as a direct-to-consumer distribution channel, allowing brands to showcase their products, provide detailed product information, and offer special promotions or discounts. They are further classified into E-Commerce and Company Based Websites.