The Europe Ready Meals Market would witness market growth of 7.3% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 1,227.7 kilo tonnes, showcasing a growth of 10.1% (2019-2022).
Ready meals are considered a cost-effective alternative, and their preparation requires less time as they are pre-cooked. These meals are available throughout the year and are safe to consume. Though processed food causes loss of nutrition, various methods utilized to prepare ready meals ensure that the loss of nutrients is minimal in most cases. An increase in the convenience offered in terms of time-saving and little effort required to prepare these meals drives the growth of the ready meals market.
Moreover, the preference for these meals by the working population and students has increased because they require only heating before consumption, reducing the cooking effort. In addition, these meals serve as low-cost alternatives to junk food, which is anticipated to boost their demand soon. However, increased health awareness and negative perceptions about these products' health effects among consumers restrain the market growth. Moreover, counterfeiting well-established brands frequently erodes brand loyalty and reputation, and such impropriety threatens market leaders' market expansion.
Consumers in Europe are increasingly interested in eco-friendly packaging and sourcing practices. Ready meal manufacturers are responding by incorporating sustainable practices into their products. There is a growing trend toward premium and high-quality ready meals in Europe. Therefore, the aforementioned factors will drive the market growth in this region.
The Germany market dominated the Europe Ready Meals Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $20,102.8 million by 2030. The UK market is exhibiting a CAGR of 6.4% during (2023 - 2030). Additionally, The France market would experience a CAGR of 8.2% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Ready Meals Market will Hit $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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