The Latin America, Middle East and Africa Ready Meals Market would witness market growth of 9.3% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 502.5 kilo tonnes, showcasing a growth of 11.2% (2023-2030).
Ready meals increasingly incorporate diverse cuisines and authentic ethnic flavors to meet the evolving taste preferences of consumers. This trend reflects the growing interest in exploring new and unique culinary experiences. With the rising acceptance of plant-based diets and the increasing focus on protein content, the ready meals market has witnessed a surge in the development of plant-based and protein-rich options that appeal to health-conscious consumers. Environmentally conscious consumers are driving the demand for sustainable packaging and sourcing of ingredients in the market.
The expansion of the online food delivery industry, which has been propelled by the surge in popularity and demand for takeout-delivery platforms, has coincided with the e-commerce site's ready-made and semi-prepared supper kits for breakfasts, lunches, and dinners. In addition to a growing desire to experiment with novel ingredients and blends, consumers are progressively attracted to premium products. To appeal to this market segment, several major corporations have introduced premium pre-packaged main courses comprised of unique or distinctive flavors and premium ingredients.
Socioeconomic disparities within the LAMEA region can contribute to consumer preferences and purchasing power variations. The market dynamics may differ significantly between high-income urban areas and rural regions. The LAMEA region has a youthful population, and the preferences of younger consumers often drive trends in the food industry. As a result, these aspects will boost the market growth in the coming years.
The Brazil market dominated the LAMEA Ready Meals Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6,633.7 million by 2030. The Argentina market is showcasing a CAGR of 9.9% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 9% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Ready Meals Market is Projected to reach USD 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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