The Asia Pacific Ready Meals Market would witness market growth of 8.0% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 1,161.4 kilo tonnes, showcasing a growth of 10.6% (2019-2022).
Demand for organic food is a prevalent trend in all food and beverage associated industries. The growing awareness among consumers regarding the detrimental effects of improper food crop production and cultivation on the body has increased the demand for organic products. One example of the advantages of organic products is the absence of detrimental chemicals, fertilizers, genetically modified organism (GMO) components, pesticides, radiation, or genetic modification. Therefore, the growth in demand for organic coupled with the awareness trend regarding the health benefits of ready meals are expected to boost the demand for ready meals in the market during the forecast period.
Due to urbanization, the increase in disposable income and the increasing number of working women, people do not have time to cook. Therefore, they prefer ready meals over traditional meals during working hours. Also, college-going students have very little time to eat during their breaks; consequently, their food needs to be accessible and convenient. Market players have been preparing many products according to consumer preferences. For example, J.M. Smucker Co.'s Uncrushable brand introduced uncured roll-ups and pepperoni morsels for lunch in July 2021.
Rapid urbanization and evolving lifestyles across the Asia Pacific have increased the demand for convenient food options. Busy schedules, dual-income households, and a desire for time-saving solutions contribute to the popularity of ready meals. The expanding middle-class population in many countries in the Asia Pacific has led to increased purchasing power. Due to the factors mentioned above the market growth is expected to propel in this region.
The China market dominated the Asia Pacific Ready Meals Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $20,489.6 million by 2030. The Japan market is registering a CAGR of 7.3% during (2023 - 2030). Additionally, The India market would experience a CAGR of 8.7% during (2023 - 2030).
Based on Distribution Channel, the market is segmented into Supermarkets/ Hypermarkets, Convenience Stores, and Online Stores. Based on Type, the market is segmented into Frozen Pizza, Canned/Preserved Ready Meals, Frozen Ready Meals, Prepared Salads, Chilled Ready Meals, Dried Ready Meals, and Chilled Pizza. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Ready Meals Market is Predict to reach $275.9 Billion by 2030, at a CAGR of 7.7%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Bakkavor Group PLC, Conagra Brands, Inc., General Mills, Inc., The Kraft Heinz Company, Nestle S.A, Fleury Michon, Unilever PLC, Kerry Group PLC, Premier Foods PLC (Premier Foods Group Services Ltd.), Kellogg Company
By Distribution Channel (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Type (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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