Prepared Meals Market Opportunities, Trends, Growth Analysis and Forecast to 2028

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prepared meals market Report Overview

The global prepared meals market size was valued at $133 billion in 2023 and will achieve a CAGR of more than 6% during the forecast period. Consumers’ increasing concerns about health and wellbeing are strengthening demand for prepared meals with claims such as clean, organic, plant-based, and free from preservatives.

Prepared Meals Market Outlook 2023-2028 (USD Billion)

Prepared Meals Market Outlook 2023-2028 (USD Billion)

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The prepared meals products market research report provides an overview of the global prepared meals products sector forecast up to 2028. It identifies 10 high-potential countries across five regions in terms of economic development, governance, socio-demography, and technological infrastructure. In addition, the report entails a comprehensive understanding of distribution channels operating in the segment and gives a detailed account of the packaging materials based on volume sales of products. It also evaluates the competitive landscape, which includes information on segment dynamics and market player details.

Market Size (2023) $133 billion
CAGR (2023-2028) >6%
Key Categories ·       Ready Meals

·       Pizza

·       Meal Kits

Key Regions ·       Asia-Pacific

·       Middle East and Africa

·       The Americas

·       Western Europe

·       Eastern Europe

Key Distribution Channels ·       Hypermarkets & supermarkets

·       Convenience stores

·       Food & drinks specialists

·       E-retailers

Key Pack Material ·       Rigid Plastics

·       Flexible Packaging

·       Rigid Metal

·       Paper & Board

·       Glass

Key Leading Players ·       Nestle

·       Conagra Brands

·       Nissin Foods Holdings

·       General Mills

·       Private label

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Prepared Meals Market Segmentation by Categories

The key categories in the Prepared Meals market are ready meals, pizza, and meal kits. In 2023, the ready meals category accounted for the highest share of the prepared meals market in both value and volume terms.

Prepared Meals Market Analysis by Categories, 2023 (%)

Prepared Meals Market Analysis by Categories, 2023 (%)

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Prepared Meals Market Segmentation by Regions

The key regions in the prepared meals market are Asia-Pacific, the Middle East and Africa, the Americas, Western Europe, and Eastern Europe. In 2023, the Americas garnered the highest prepared meals market revenue. The US was the leading market in the region in the year. Consumers are increasingly seeking time-saving products stimulated by their growing busy lifestyles. This trend has supported the sales of prepared meals in the region.

Prepared Meals Market Analysis by Region, 2023 (%)

Prepared Meals Market Analysis by Region, 2023 (%)

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Prepared Meals Market Segmentation by Distribution Channels

The key distribution channels in the prepared meals market are hypermarkets & supermarkets, convenience stores, food & drinks specialists, e-retailers, and others. In 2023, hypermarkets & supermarkets was the most preferred distribution channel, followed by convenience stores and food & drinks specialists.

Prepared Meals Market Analysis by Distribution Channel, 2023 (%)

Prepared Meals Market Analysis by Distribution Channel, 2023 (%)

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Prepared Meals Market Segmentation by Pack Materials

The key pack materials used in the Prepared Meals market are rigid plastics, flexible packaging, rigid metal, paper & board, and glass. In 2023, rigid plastics emerged as the most preferred pack material in the prepared meals market, followed by flexible packaging.

Prepared Meals Market Analysis by Pack Materials, 2023 (%)

Prepared Meals Market Analysis by Pack Materials, 2023 (%)

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Prepared Meals Market – Competitive Landscape

The leading prepared meals market players are Nestlé, Conagra Brands, Nissin Foods Holdings, General Mills, and other private labels. In 2023, Nestlé accounted for the highest share of the prepared meals market.

Prepared Meals Market Analysis by Leading Players, 2023 (%)

Prepared Meals Market Analysis by Leading Players, 2023 (%)

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Segments Covered in this Report

Prepared Meals Category Outlook (Share, %, 2023)

  • Ready Meals
  • Pizza
  • Meal Kits

Prepared Meals Regional Outlook (Share, %, 2023)

  • Asia-Pacific
  • Middle East and Africa
  • Americas
  • Western Europe
  • Eastern Europe

Prepared Meals Distribution Channel Outlook (Share, %, 2023)

  • Hypermarkets & supermarkets
  • Convenience stores
  • Food & drinks specialists
  • E-retailers

Prepared Meals Packaging Material Outlook (Share, %, 2023)

  • Rigid Plastics
  • Flexible Packaging
  • Rigid Metal
  • Paper & Board
  • Glass

Scope

Provides an overview of the current sector scenarios in terms of ingredients, manufacturer claims, labeling, and packaging. The analysis also provides a regional overview across five regions-Asia-Pacific, MEA (MEA), the Americas, Western Europe, and Eastern Europe- highlighting sector size, growth drivers, the latest developments, and future challenges for each region. This data includes both on-trade and off-trade data.

Reasons to Buy

Manufacturing and retailers seek the latest information on how the market is evolving to formulate their sales and marketing strategies. There is also a demand for authentic market data with a high level of detail.

  • The report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector in the region
  • The report provides a detailed analysis of the countries in the region, covering the key challenges, competitive landscape, and demographic analysis, that can help companies gain insight into the country-specific nuances
  • The analysts have also placed a significant emphasis on the key trends that drive consumer choice and the future opportunities that can be explored in the region, which can help companies in revenue expansion.
  • To gain competitive intelligence about leading brands in the sector in the region with information about their market share and growth rates.

Nestlé
Conagra Brands
Nissin Foods Holdings
Dr. August Oetker Nahrungsmittel
General Mills

Table of Contents

Executive Summary

Sector Overview

Global Overview

Americas Overview

Asia-Pacific Overview

Eastern Europe Overview

MEA Overview

Western Europe Overview

Prepared meals: Global Challenges

Shift in Food Value Share Patterns

Change in Value Share in the Overall Food Industry, 2023–28

Reasons for Shift in Value Share

Change in Consumption Levels: Americas, 2018–28

Change in Consumption Levels: Asia-Pacific, 2018–28

Change in Consumption Levels: Eastern Europe, 2018–28

Change in Consumption Levels: MEA, 2018–28

Change in Consumption Levels: Western Europe, 2018–28

Identifying High-Potential Countries by Region

Identifying High-Potential Countries by Region

Methodology – Identifying High-Potential Countries

Country Deep Dive

High-Potential Country Analysis

Future Outlook

Health & Wellness Analysis

Health & Wellness Analysis – Global & Regional

Competitive Environment

Leading Companies by Value – Global

Leading Companies and Brands Share Analysis – Global

Leading Companies and Brands Share Analysis by Region

Competitive Landscape – Market Analysis

Key Brands – Ready Meals

Key Brands – Pizza

Key Brands – Meal Kits

Market Share of Private Labels

Private Labels’ Share Analysis by Region

Private Labels’ Share Analysis by Category

Key Distribution Channels

Share of Key Distribution Channels – Global and Regional Level

Key Packaging Formats

Growth Analysis by Key Pack Material and Pack Type

Growth Analysis by Closure Type and Primary Outer Type

Select Industry Metrics

Global Patent Filings

Global Job Analytics

Global Deals

Appendix

Definitions

About GlobalData

Table

Key categories by value and volume, 2023–28 – Global

Key categories by value and volume, 2023–28 – Asia-Pacific

Key categories by value and volume, 2023–28 – MEA

Key categories by value and volume, 2023–28 – Americas

Key categories by value and volume, 2023–28 – Western Europe

Key categories by value and volume, 2023–28 – Eastern Europe

Brazil: Category share

Canada: Category share

United States of America: Category share

Australia: Category share

Japan: Category share

Czech Republic: Category share

Romania: Category share

South Africa: Category share

United Kingdom: Category share

Sweden: Category share

Leading companies in global prepared meals sector (% share by value), 2023

Key pack material volume share (%), 2023

Annual volume growth by pack material (%), 2018–28

Key pack type volume share (%), 2023

Annual volume growth by pack type (%), 2018–28

Key closure type volume share (%), 2023

Annual volume growth by closure type (%), 2018–28

Key primary outer type volume share (%), 2023

Annual volume growth by primary outer type (%), 2018–28

Figures

Change in consumption levels in overall prepared meals sector, 2018–28

Change in consumption levels in overall prepared meals sector – Asia-Pacific, 2018–28

Change in consumption levels in overall prepared meals sector – MEA, 2018–28

Change in consumption levels in overall prepared meals sector – Americas, 2018–28

Change in consumption levels in overall prepared meals sector – Western Europe, 2018–28

Change in consumption levels in overall prepared meals sector – Eastern Europe, 2018–28

Identifying high-potential countries, risk–reward analysis – Asia-Pacific

Identifying high-potential countries, risk–reward analysis – MEA

Identifying high-potential countries, risk–reward analysis – Americas

Identifying high-potential countries, risk–reward analysis – Western Europe

Identifying high-potential countries, risk–reward analysis – Eastern Europe

Top five companies’ shares by brand (in value terms) in the prepared meals sector, 2023 – Global

Top five companies’ shares by brand (in value terms) in the prepared meals sector, 2023 – Asia-Pacific

Top five companies’ shares by brand (in value terms) in the prepared meals sector, 2023 – MEA

Top five companies’ shares by brand (in value terms) in the prepared meals sector, 2023 – Americas

Top five companies’ shares by brand (in value terms) in the prepared meals sector, 2023 – Western Europe

Top five companies’ shares by brand (in value terms) in the prepared meals sector, 2023 – Eastern Europe

Key brands – ready meals, 2023

Key brands – pizza, 2023

Key brands – meal kits, 2023

Private label value and share by region, 2018–23

Private label value and share by category, 2023

Leading distribution channels by region (% share by value), 2023

Frequently asked questions

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