Market Size of Europe Ready Meals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.67 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Ready Meals Market Analysis
The European Ready Meals Market is expected to register a CAGR of 5.67% during the forecasted years.
- Consumers in the region lead a busy lifestyle, considerably reducing their time for food preparation, thus impacting the growth of on-the-go foods. This trend has led to consumers shifting toward frozen, dried, and canned ready meals.
- Increasing disposable income and hectic lifestyles, a rising aging population and single households, and a wide variety of ready meals are driving the ready meals market in Denmark. For instance, according to Statistics Denmark, the Danish population is gradually growing older, and the inhabitants aged 80 years or older reached over 280 thousand in 2021 compared to 230 thousand in 2011.
- Ready-made meals come in various forms, like microwave meals, takeaway meals, and pot noodles, thus increasing the availability and variety of foods. Additionally, the increasing trend of eating out and 'on-the-go' eating, with people consuming more restaurant meals, takeaway meals, and convenience snacks, has reduced at-home cooking.
- Consumers are more inclined to eat pre-prepared foods, such as shop-bought pizza, which covers a major portion of the consumer's diet and is, therefore, consumed on a priority basis. Additionally, the widespread busy lifestyles and the rising demand for healthy and plant-based alternatives create a significant market potential for vegan convenience products.
Europe Ready Meals Industry Segmentation
A ready meal is a meal sold in a pre-cooked form that only requires reheating.
The European ready meals market provides an in-depth analysis of the sales and growth of the ready meals segment in Europe, along with the opportunities and trends in the market. The market is segmented by product type, distribution channel, and geography. Based on product type, the market is segmented into frozen ready meals, chilled ready meals, canned ready meals, and dried ready meals. Based on distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, online retail stores, and other distribution channels. Based on geography, the market is segmented into the United Kingdom, Germany, France, Italy, Spain, Russia, and the Rest of Europe.
For each segment, the market sizing and forecasts have been done on the basis of value (in USD billion).
| Product Type | |
| Frozen Ready Meals | |
| Chilled Ready Meals | |
| Canned Ready Meals | |
| Dried Ready Meals |
| Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
| Geography | |
| United Kingdom | |
| Germany | |
| France | |
| Italy | |
| Spain | |
| Russia | |
| Rest of Europe |
Europe Ready Meals Market Size Summary
The European ready meals market is experiencing significant growth, driven by changing consumer lifestyles and preferences. As individuals lead increasingly busy lives, there is a noticeable shift towards convenient food options such as frozen, dried, and canned meals. This trend is further supported by factors such as rising disposable incomes, an aging population, and the prevalence of single households, particularly in countries like Denmark. The market is characterized by a diverse range of ready meal options, including microwave meals, takeaway meals, and pot noodles, which cater to the demand for on-the-go eating. The growing inclination towards pre-prepared foods, including shop-bought pizzas and vegan convenience products, highlights the market's potential for expansion. Additionally, the demand for healthy and plant-based alternatives is on the rise, reflecting a broader shift towards healthier eating habits among consumers.
The European ready meals market is highly competitive and fragmented, with numerous regional and international players vying for market share. Companies such as Nomad Foods Inc., Tyson Foods, Inc., Orkla ASA, Kerry Group plc., and Bell Food Group AG are actively diversifying their product portfolios and engaging in strategic expansions, mergers, and acquisitions to meet the increasing consumer demand. The market is also witnessing a focus on sustainable and innovative packaging solutions to enhance product quality and shelf life. The introduction of organic ready meals is gaining traction, driven by health-conscious consumers and continuous product innovations. Start-ups like Lazy Vegan are entering the market with novel offerings, further intensifying competition. The market's dynamic nature is underscored by ongoing developments, such as acquisitions and partnerships, which aim to strengthen market positions and expand geographic reach across Europe.
Europe Ready Meals Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Drivers
-
1.2 Market Restraints
-
1.3 Porter's Five Forces Analysis
-
1.3.1 Threat of New Entrants
-
1.3.2 Bargaining Power of Buyers/Consumers
-
1.3.3 Bargaining Power of Suppliers
-
1.3.4 Threat of Substitute Products
-
1.3.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 Product Type
-
2.1.1 Frozen Ready Meals
-
2.1.2 Chilled Ready Meals
-
2.1.3 Canned Ready Meals
-
2.1.4 Dried Ready Meals
-
-
2.2 Distribution Channel
-
2.2.1 Supermarkets/Hypermarkets
-
2.2.2 Convenience Stores
-
2.2.3 Online Retail Stores
-
2.2.4 Other Distribution Channels
-
-
2.3 Geography
-
2.3.1 United Kingdom
-
2.3.2 Germany
-
2.3.3 France
-
2.3.4 Italy
-
2.3.5 Spain
-
2.3.6 Russia
-
2.3.7 Rest of Europe
-
-
Europe Ready Meals Market Size FAQs
What is the current Europe Ready Meals Market size?
The Europe Ready Meals Market is projected to register a CAGR of 5.67% during the forecast period (2024-2029)
Who are the key players in Europe Ready Meals Market?
Nomad Foods Inc., Orkla ASA, Kerry Group plc., Bell Food Group AG and Fjordland AS are the major companies operating in the Europe Ready Meals Market.
