According to the latest report by IMARC Group, titled “Ready to Eat (RTE) Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global ready-to-eat (RTE) food market reached a strong growth in 2019.
Ready-to-eat (RTE) food refers to processed and packaged food items that require minimal or no further preparation. The ingredients used in these food products are cooked, processed, frozen, and then packed into containers for direct consumption later. Meat products, powder mixes, desserts, dairy products, shelf-stable foods, baked goods, cheese, etc., are some common ready-to-eat variants. They are rich in flavors, antioxidants, extracts, preservatives, sweeteners, and acids. Ready-to-eat food products offer convenience, reduce meal preparation time, provide longer shelf-life, and allow minimal wastage and spoilage.
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The elevating levels of urbanization, along with the hectic consumer work schedules and sedentary lifestyles, are primarily driving the market for RTE food products. Additionally, the rising working women population and the improving consumer living standards are also propelling the product demand on a global level. Moreover, the growing number of quick-service restaurants (QSRs), along with the emerging café culture, is further augmenting the demand for RTE food products that require minimal preparation time and allow faster customer service. Besides this, the emergence of numerous innovative product variants, such as gluten-free, vegan, organic, and lactose-free RTE food items, will continue to drive the global market in the coming years. Looking forward, IMARC Group expects the global ready to eat (RTE) food market to continue its moderate growth during the next five years.
Breakup by Product Type:
- Meat/Poultry Based
- Cereal Based
- Fruits/Vegetable Based
- Others
Breakup by Packaging Type:
- Canned
- Frozen/Chilled
- Retort
- Others
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Food Specialty Stores
- Departmental Stores
- Online Stores
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Competitive Landscape with Key Players:
- 2 Sisters Food Group (Boparan Holdings)
- ADF Foods Ltd., Bakkavor Foods Ltd.
- Birds Eye Ltd., Findus Group Ltd.
- General Mills Inc.
- Greencore Group Plc.
- ITC Limited
- McCain Foods
- MTR Foods Pvt Ltd. (Orkla ASA)
- Nomad Foods Ltd.
- Premier Foods Group Ltd., etc.
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