According to IMARC Group’s latest report, titled “Ready to Eat (RTE) Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, The global ready to eat (RTE) food market grew at a CAGR of 6.5% during 2014-2019. Ready to eat (RTE) food refers to food products produced by washing, cooking, processing, freezing, and packaging the ingredients in containers that do not need any further preparation. These food products are supplemented with antioxidants, preservatives and flavors to enhance their quality and prolong shelf life. Nowadays, there is a wide variety of RTE foods available globally, including meat products, shelf-stable foods, desserts, dairy products, baked goods and powder mixes.
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The global ready to eat (RTE) food market is primarily driven by the rising working population and their hectic lifestyles. Due to this, they are increasingly spending on processed and convenience food products, which require minimal time and ingredients to prepare. Besides this, several manufacturers are introducing innovative RTE food variants that are rich in functional elements and cater to diversified nutritional requirements. Moreover, rapid urbanization, the growing number of quick-service restaurants (QSRs) and expanding online retailing networks are some of the other factors propelling the market growth. Looking forward, IMARC Group expects the global ready to eat (RTE) food market to continue its moderate growth during the next five years.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
Ready to Eat (RTE) Food Market Segmentation:
Breakup by Product Type:
Breakup by Packaging Type:
Breakup by Distribution Channel:
Breakup by Region:
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