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Ready-to-eat Food Market to Reach US$ 391.1 Billion by 2034

World 25.01.2024
Source: The DairyNews
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The worldwide Ready-to-Eat Food Market is on track to achieve significant growth, reaching US$ 195.9 billion in 2024 and soaring to US$ 391.1 billion by 2034, with a projected CAGR of 9.2% during this period, writes Future Market Insights, Inc.
Ready-to-eat Food Market to Reach US$ 391.1 Billion by 2034
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Driving this remarkable expansion are evolving social and economic trends, increased spending on food, and shifts in dietary preferences, all contributing to the rising global demand for convenient and ready-to-eat foods. Post-COVID-19, the ready-to-eat food industry stands out as one of the fastest-growing markets.

Consumers' escalating preference for healthier, customizable, authentic, and natural products, without compromising taste or nutritional value, is a major catalyst for market growth. Ready-to-eat foods cater to individuals striving to maintain a healthy diet amid hectic schedules and dynamic lifestyles.

The United States, China, and India, characterized by rapid economic growth and immense market potential, are expected to drive significant demand. Frozen and chilled ready meals are particularly popular in these countries. Emerging consumer food trends, including veganism, gluten-free options, and environmentally friendly packaging, contribute substantial value to the market.

Key Highlights from the Ready-to-Eat Food Market Report:
  • The global market is poised to reach US$ 195.9 billion by 2024.
  • A robust CAGR of 9.2% is expected during the forecast period.
  • Dairy products are anticipated to hold a significant market share of 15.7% in 2024.
  • The United States is projected to grow at a CAGR of 6.5% through 2034.
  • China's ready-to-eat food market is expected to rise with a CAGR of 7.3% during the forecast period.
Nandini Roy Choudhury, Client Partner for Food & Beverages at Future Market Insights, Inc., notes, "Some of the factors bolstering the market include the introduction of more exotic products, the surge of private labels, and the premiumization of products. Consumer perceptions of prepared meals are steadily increasing, with customers finding that high-speed cooking times and convenience are optimal"
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