Ready Meals market is likely to witness a CAGR of 4.7% during the forecast period, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Ready Meals Market
Ready Meals market is likely to witness a CAGR of 4.7% during the forecast period. The prime factors driving the ready meals market are ease of handling and storage, less effort to cook, and changing lifestyle of consumers.
Europe is estimated to be the largest market for ready meals during the forecast period. Busy and hectic lifestyle of consumers, huge participation of women as workforce, huge consumer base, and ease in preparation are the major factors that have led to the dominance of region in the global market. Asia-Pacific and North America are also expected to offer substantial growth opportunities during the forecast period.
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Report Scope & Market Segmentation
Ready Meals Market Share: By Product Type
Based on the product type, the market is segmented as frozen ready meals, chilled ready meals, canned ready meals, and dried ready meals. The frozen ready meals segment dominated the market in 2019 and is expected to maintain its position during the forecast period. Increasing demand for convenience food across the globe along with rapid urbanizations is the major factor driving the growth of the frozen ready meals segment.
Ready Meals Market Share: By Distribution Channel Type
Based on the distribution channel type, the ready meals market is segmented as supermarkets, convenience stores, online retail stores, and others. Convenience stores hold the major share of the pie and are also expected to witness a healthy growth during the forecast period. Ease of access, huge customer footfall, rapid urbanization, and wide geographical presence are the major factors contributing towards the growth of the convenience stores segment.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
What is the impact of COVID-19 on the market forecast?
What are the trends, drivers, and challenges?
How competitive is the market? Who are the market leaders?
What are the key strategies adopted by the market players?
Which segments offer the greatest opportunities?
Which are the most attractive regions?
What are the key success factors for the market players?
How does the business environment impact the market?
Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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