The dinner RTE food market is projected to grow at a healthy CAGR during the assessment period, 2020-2030. The market growth can be primarily attributed to a change in consumers’ food preferences for RTE food products due to the hectic work schedules and busy lifestyles of individuals. Market players are emphasizing launching healthier and nutritious products to maintain their market share in the coming years.
Frozen dinner RTE food are surging in popularity, accounting for nearly one-third of the revenue share as of 2019. The lucrativeness is likely to continue, fueled by spurring need to stockpile essential food to sail through the COVID-19 pandemic.
Demand for frozen food is also growing on account of their long shelf-life. As consumers look to reduce uncertainty, frozen has emerged as a feasible solution. These preferences are also boosting the category in dinner RTE market.
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“The global market is anticipated to come out stronger despite the recessionary downturn inflicted by COVID-19 outbreak, due to the growing requirement for preparedness amidst perceived shortfalls.” concludes the FMI analyst.
Key Highlights
- Europe to retain its market dominance throughout the forecast period, however, APAC will come out as the fastest-growing market.
- Frozen dinner RTE food will remain the most lucrative segment due to their extended shelf-life and increasing requirement to stockpile essential food by consumers to remain at ease amid the crisis.
- E-commerce remains the preferred channel throughout the forecast period.
Drivers
- Launch of unique nutrient-rich combination and flavor foodstuffs to address rising health concerns will continue to complement market growth.
- Rapid advancements in technology such as the integration of additive manufacturing are rendering high growth prospects in the market.
- Convenience in cooking and increased shelf life is supporting the market over the forecast period.
Restraints
- Health concerns in relation to ready to eat food are creating bottlenecks for widespread adoption.
- Surging causes of obesity along with other lifestyle diseases continue to remain a major impediment in the global market.
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Coronavirus Impact on the Market
The global demand for dinner RTE food has been severely affected by the onset of the COVID-19 outbreak, like other industries. However, the market is anticipated to enjoy sturdy growth with ease of restrictions. Furthermore, the global population is still following a stay at home orders that has led to stocking up on essential supplies as well as maintaining a positive trend for instant food.
Competitive Landscape
Leading companies operating in the global dinner RTE food market are Findus Group, General Mills Inc., The Kraft Heinz Company Ltd., Tyson Food Inc., Unilever NV, Sigma Alimentos S.A de C.V., Nestle SA, Greencore Group Plc., Hormel Food Corporation, ITC Limited, and Smithfield Food Inc.
About the Study
The study offers readers a comprehensive assessment of the Dinner RTE Food market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights according to product (frozen dinner RTE food, chilled dinner RTE food & canned dinner RTE food) and distribution channel (supermarkets/hypermarkets, independent retailers, convenience stores & others) across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Scenario Assessment of the Impact of COVID-19 on Dinner RTE Foods Market
3.1. Current Scenario/ Immediate Actions
3.2. Market Scenario and the Forward Path
3.2.1. Global Dinner RTE Foods Market Forecast Scenario Comparison of Annual Growth Rates for short Term (2020-2023) and Long Term (2024-2030)
3.2.1.1. Optimistic Scenario
3.2.1.1.1. China
3.2.1.1.2. US
3.2.1.1.3. Euro Zone
3.2.1.1.4. Asia Pacific
3.2.1.1.5. Rest of the World
3.2.1.2. Likely Scenario
3.2.1.2.1. China
3.2.1.2.2. US
3.2.1.2.3. Euro Zone
3.2.1.2.4. Asia Pacific
3.2.1.2.5. Rest of the World
3.2.1.3. Pessimistic Scenario
3.2.1.3.1. China
3.2.1.3.2. US
3.2.1.3.3. Euro Zone
3.2.1.3.4. Asia Pacific
3.2.1.3.5. Rest of the World
3.3. Key Factors Impacting the Market
3.4. Case Studies- Lessons from the companies that survived & thrived in the last recession
4. Key Market Trends
4.1. Key Trends Impacting the Market
4.2. Product Innovation / Development Trends
5. Key Success Factors
5.1. Product Adoption / Usage Analysis
5.2. Product USPs / Features
5.3. Strategic Promotional Strategies