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US Ready Meals Market Overview:
The US ready meals market was valued at USD 46.1 billion in 2023. The industry is projected to expand from USD 47.5 billion in 2024 to USD 60.2 billion by 2032, reflecting a compound annual growth rate (CAGR) of 3.00% over the forecast period (2024 – 2032).
The US ready meals market has evolved substantially, driven by the fast-paced lifestyle of consumers seeking convenient and quick meal options. Ready meals, also known as convenience foods, are pre-cooked and require minimal preparation, making them an attractive option for busy individuals and families. The market’s growth is bolstered by advancements in food processing technology, innovative packaging solutions, and a broadening array of product offerings catering to diverse dietary preferences.
The market size was valued at approximately USD 30 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of around 6% from 2024 to 2032. Factors contributing to this growth include the increasing number of working professionals, urbanization, and the rising influence of Western food culture.
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Market Segmentation By Type
The ready meals market can be segmented into three main types: vegan, vegetarian, and non-vegetarian.
The vegan segment has experienced a surge in popularity, driven by a growing awareness of the health benefits of a plant-based diet and concerns over animal welfare and environmental sustainability. Companies are innovating to provide a variety of vegan options, ranging from plant-based burgers to vegan pasta and curries.
Vegetarian ready meals cater to consumers who prefer a diet that excludes meat but includes dairy products and eggs. This segment benefits from a strong demand for healthy and nutritious meal options, with offerings such as vegetable stir-fries, cheese lasagnas, and quinoa salads.
Non-vegetarian ready meals remain the largest segment, appealing to a broad consumer base. These meals typically include meat, poultry, or seafood as the primary ingredient. Popular options include chicken Alfredo, beef stew, and seafood paella. The non-vegetarian segment continues to innovate with high-quality ingredients and gourmet recipes.
Market Segmentation By Product
Ready meals in the US can be categorized based on the product type: canned, frozen, chilled, and dried.
Canned ready meals offer long shelf life and convenience. They are often perceived as affordable and easy-to-store options. Common products include canned soups, stews, and pasta dishes. The market for canned ready meals is mature, with steady demand from consumers seeking budget-friendly and non-perishable meal solutions.
Frozen ready meals represent a significant portion of the market, valued for their freshness preservation and variety. Technological advancements in freezing methods have improved the quality and taste of frozen meals. Popular products include frozen pizzas, TV dinners, and breakfast sandwiches. This segment is expected to see robust growth due to its convenience and the expanding range of options catering to various dietary needs.
Chilled ready meals are gaining traction due to their perception as fresher and healthier compared to their frozen counterparts. These meals are typically stored in refrigeration and have a shorter shelf life. Offerings include salads, wraps, and gourmet meal kits. The chilled segment is poised for growth, driven by the demand for premium and fresh-tasting ready meals.
Dried ready meals, such as instant noodles, rice dishes, and dehydrated soups, are popular for their portability and long shelf life. They are particularly favored by outdoor enthusiasts and as emergency food supplies. Innovations in flavor and nutritional content are helping to drive the growth of this segment.
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Market Segmentation By Distribution Channels
The distribution of ready meals in the US is facilitated through various channels, including supermarkets, hypermarkets, online retailers, and others.
Supermarkets are a primary distribution channel, offering a wide range of ready meals. They attract a large customer base due to their convenience and variety. Major supermarket chains continue to expand their private label ready meal offerings, enhancing product diversity and affordability.
Hypermarkets, with their vast floor space, provide an extensive selection of ready meals. They appeal to bulk buyers and families looking for variety and value. Hypermarkets often feature dedicated sections for ready meals, including exclusive deals and promotions.
Online retailers have seen exponential growth in the distribution of ready meals, particularly accelerated by the COVID-19 pandemic. Consumers appreciate the convenience of online shopping, home delivery services, and the ability to browse a wide range of products. E-commerce platforms and meal delivery services are continually expanding their ready meal selections to cater to diverse dietary preferences.
Other distribution channels include convenience stores, specialty food stores, and direct-to-consumer sales through brand websites. These channels cater to specific consumer needs, such as quick meal solutions from convenience stores or gourmet and organic ready meals from specialty shops.
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Market Forecast Till 2032
The US ready meals market is expected to continue its growth trajectory, driven by several key factors:
As consumers become more health-conscious and environmentally aware, there is a growing demand for nutritious, organic, and sustainably sourced ready meals. Brands that align with these values are likely to see increased market share.
Innovations in food processing, packaging, and preservation technologies will enhance the quality, taste, and shelf life of ready meals. This will attract a broader consumer base and foster market growth.
The expansion of online retail and home delivery services will continue to make ready meals more accessible. Enhanced logistics and faster delivery times will further boost market penetration.
Continuous product innovation, including the introduction of new flavors, cuisines, and dietary options, will keep consumers engaged and drive repeat purchases. Brands that cater to niche markets, such as gluten-free, keto, and allergen-free ready meals, will find significant growth opportunities.
Economic recovery and increasing disposable incomes will contribute to higher consumer spending on convenience foods. The demand for premium ready meals is expected to rise as consumers seek high-quality and gourmet options.
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