Ready Meals Market to Garner $408.0 Bn, Globally, by 2031 at 11.9% CAGR: Allied Market Research

Major determinants of the market growth Major determinants of the market growth Rise in convenience and little time required for meal preparation have boosted the growth of the global ready meals market. However, rise in health awareness and negative perception pertaining to health effects of these products hampered the market growth. On the contrary, rise in preference by the working population and students would open new opportunities in the future. Request Sample Report at:...

Major determinants of the market growth

Rise in convenience and little time required for meal preparation have boosted the growth of the global ready meals market. However, rise in health awareness and negative perception pertaining to health effects of these products hampered the market growth. On the contrary, rise in preference by the working population and students would open new opportunities in the future.

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Covid-19 scenario:

The frozen pizza segment dominated the market

By type, the frozen pizza segment held the largest share in 2021, accounting for more than one-third of the global ready meals market, owing to rise in disposable income, urbanization, and demand for western-style diets. However, the chilled pizza segment is estimated to register the highest CAGR of 15.3% during the forecast period, due to rise in demand for plant-based and gluten-free choices.

The food service segment to portray the highest CAGR through 2031

By end user, the food service segment is projected to manifest the highest CAGR of 12.6% from 2022 to 2031, due to rise in demand for commercial areas such as café, restaurant for socializing, and change in pattern of food consumption. However, the residential segment held the largest share in 2021, accounting for nearly two-thirds of the global ready meals market, as it offers the convenience in their desk bound jobs and busy lifestyle.

Europe, followed by North America, held the lion's share

By region, the global ready meals market across Europe, followed by North America, dominated in 2021, accounting for nearly two-fifths of the market, owing to consumer shift in lifestyle, growing penchant toward fresh and natural food, and dynamic working demographics in the region. However, the market across Asia-Pacific is anticipated to showcase the highest CAGR of 13.5% during the forecast period, owing to rise in demand for fresh and plant-based meals.

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Major market players

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