Ready Meals Market Size, Share, Growth Analysis, By Product type(Frozen, Chilled, Canned, Shelf-stable Segment), By Distribution channel(Supermarkets & Hypermarkets, Convenience Stores, Online, others), By Region - Industry Forecast 2024-2031

Global Ready Meals Market size was valued at USD 143.86 billion in 2019 and is poised to grow from USD 149.9 billion in 2023 to USD 225.28 billion by 2031, growing at a CAGR of 5.1% in the forecast period (2024-2031).

Ready meals are typically cooked meals that require little to no additional cooking or processing before consumption. The convenience of prepared meals influences demand because it saves time, requires fewer cooking efforts, and is easy to handle and store. Consumer food preferences are shifting toward ready-to-eat food products as a result of the hectic work schedules of college students and the busy lifestyles of working people. People's preferences for packaged meals are constantly changing as they seek higher-quality ingredients, greater variety, and faster delivery. Customers are willing to pay a premium for ready-to-eat takeaways and same-day delivery as a result of this. According to the Ready Meals 2020 Snapshot Survey conducted by Eating Better, 88% of adults in the U.K. eat ready breakfasts and dinners or ready-to-cook foods on a weekly basis, and two out of every five people eat packaged meals.

During the Covid-19 pandemic the people were preferring ready meal as there were restriction for movement and it was easily available at affordable price and convenient to store for longer duration. Also, the fear of spreading the corona virus in open spaces made people to purchase ready meals instead of fresh food.

US Ready Meals Market is poised to grow at a sustainable CAGR for the next forecast year.