At 5.0% CAGR, North America Ready-to-Eat Meals Market is Projected to be Worth US$ 195,418.21 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the North America ready-to-eat meals market was valued at US$ 132,214.56 million in 2022 and is expected to reach US$ 195,418.21 million by 2030, registering a CAGR of 5.0% from 2022 to 2030. Rising demand for convenience food and escalating sales of ready-to-eat meals through online channels are among the critical factors attributed to the North America ready-to-eat meals market expansion.

The consumption of high-quality convenience food has become one of the biggest trends in the food industry. Convenience food, such as ready-to-eat products, ready-to-eat meals, and frozen products, allows consumers to save time and effort associated with ingredient shopping, meal preparation and cooking, consumption, and post-meal activities. Convenience and taste are the major desired attributes among consumers across the globe while buying food. According to the Food and Health Survey of the "International Food Information Council (IFIC)," convenience is a key driver for millennials while purchasing food. At the same time, taste is essential for baby boomers.

Supermarket delivery services-such as Amazon Fresh and Instacart-and meal kit delivery companies-such as Blue Apron-have benefited from the rising preference for convenience and quality. Moreover, they find RTE food handling easy due to the existence of evolved cold supply chains. Such factors boost the demand for convenience food across the globe.

Convenience foods such as ready-to-eat meals are gaining popularity owing to the increasing number of smaller households and dual-income families across the globe. Owing to their hectic work schedules, millennials prefer to be efficient with their time and avoid tedious tasks. Ready-to-eat meals are processed and involve preservation technology, thereby extending product shelf life. The efforts and time saved on food preparation and its convenience of storage and transport have further aided in boosting its demand. According to the "Food and Health Survey 2020" by the International Food Information Council, of 1,011 Americans (aged between 18 and 80 years), 19% of consumers ate more pre-made meals from their pantry or freezer.

On the contrary, risk of microbial contamination hampers the growth of North America ready-to-eat meals market.

Based on type, the North America ready-to-eat meals market is segmented into rice bowls, wraps, salads, burritos, gravies and curries, noodles and pastas, pizza, soups and stews, meat entrees, burgers, sandwiches, and others. The noodles and pastas segment held 23.9% share of the North America ready-to-eat meals market in 2022, amassing US$ 31.56 billion. It is projected to garner US$ 37.52 billion by 2030 to expand at 2.2% CAGR during 2022-2030.

In terms of category, the North America ready-to-eat meals market is bifurcated into gluten-free and conventional. The conventional segment held 73.4% share of the North America ready-to-eat meals market in 2022, amassing US$ 97.07 billion. It is projected to garner US$ 138.18 billion by 2030 to expand at 4.5% CAGR during 2022-2030.

By end-use industry, the North America ready-to-eat meals market is segmented into HoReCa, institutions, households, and others. The HoReCa segment held 39.6% share of the North America ready-to-eat meals market in 2022, amassing US$ 52.41 billion. It is projected to garner US$ 84.59 billion by 2030 to expand at 6.2% CAGR during 2022-2030.

Based on country, the North America ready-to-eat meals market is segmented into US, Canada, and Mexico. The US held 68.5% share of North America ready-to-eat meals market in 2022, amassing US$ 90.53 billion. It is projected to garner US$ 133.31 billion by 2030 to expand at 5.0% CAGR during 2022-2030.

Key players operating in the North America ready-to-eat meals market are Calavo Growers Inc, Dandee Sandwich Co, EA Sween Co, Fresh Grill Foods LLC, FreshRealm LLC, Hearthside Food Solutions LLC, Taylor Fresh Foods Inc, TripleSticks Inc, and Tyson Foods Inc, among others.

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