Market Size of Frozen-cooked Ready Meals Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 41.07 Billion |
Market Size (2029) | USD 52.29 Billion |
CAGR (2024 - 2029) | 4.95 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Frozen-cooked Ready Meals Market Analysis
The Frozen-cooked Ready Meals Market size is estimated at USD 41.07 billion in 2024, and is expected to reach USD 52.29 billion by 2029, growing at a CAGR of 4.95% during the forecast period (2024-2029).
The market is primarily driven by factors such as rapid urbanization, the fast-paced lifestyle of consumers, especially in urban areas, rising disposable income, and growing demand for precooked food for convenience and to save cooking time among consumers. Consumers' shift from instant food products to precooked frozen food, and growing demand for gourmet frozen ready meals such as artisanal pizzas, dumplings, quesadillas, and others, are supporting the growth of the frozen-cooked ready meals in the market studied. The change in dietary habits and lifestyle, along with the rising demand for ready-to-eat cultural cuisines and the easy accessibility of a wide range of frozen, pre-cooked meals, are further fueling the growth of the market. In addition, the increased consumer willingness to opt for frozen ready meals is due to their longer shelf life, attractive pricing of frozen-cooked ready meal products, and the rising number of manufacturers innovating new products to cater to the growing demand from consumers.
The rising preference for convenient and ready-to-eat products is increasing the demand for frozen and cooked ready meals in the market. Further, the demand for vegetarian meals is increasing in the market owing to the rising number of vegetarians and vegans in different developed and developing nations worldwide. For instance, according to the Ethical Consumer Research Association Ltd, the sales revenue of vegetarian and plant-based food and beverage alternatives in the United Kingdom increased from GBP 1000 million in 2018 to GBP 1490 million in 2021.
Frozen-cooked Ready Meals Industry Segmentation
A frozen-cooked meal refers to any complete meals or portions of meals that are precooked, assembled into a package, and frozen for retail sale. Frozen meals are popular as they offer a diverse menu and are convenient to prepare. In the food industry, freezing usually refers to deep freezing or lowering the temperature of the product below -18°C.
The scope of the frozen-cooked ready meals market includes segmentation of the market based on type, application, and geography. By product type, the market is segmented into vegetarian meals and non-vegetarian meals. Non-vegetarian meals are further segmented into chicken meals, beef meals, and other non-vegetarian meals. By distribution channel, the market is segmented into supermarkets/ hypermarkets, convenience stores, online retailers, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
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Frozen-cooked Ready Meals Market Size Summary
The frozen-cooked ready meals market is experiencing significant growth, driven by factors such as rapid urbanization, fast-paced lifestyles, and increasing disposable incomes. Consumers are increasingly shifting towards precooked frozen foods for convenience and time-saving benefits, with a growing demand for gourmet options like artisanal pizzas and dumplings. The market is further fueled by changes in dietary habits, a rising interest in ready-to-eat cultural cuisines, and the easy accessibility of a wide range of frozen meals. The longer shelf life and attractive pricing of these products, along with innovations from manufacturers, are enhancing consumer willingness to opt for frozen ready meals. The trend is particularly strong among Gen Z and millennial consumers, who are seeking healthy, nutritious, and convenient food options to complement their busy schedules.
The demand for frozen-cooked ready meals is also being propelled by the increasing preference for vegetarian and vegan options, reflecting a broader shift towards plant-based diets in developed and developing nations. The market is characterized by technological innovations that offer convenience through frozen, portion-controlled, and microwaveable formats. In North America, the ease of preparation and extended product life of these meals are particularly appealing to the working population. The market is highly competitive, with numerous international, regional, and local players like Campbell Soup Company, Conagra Brands Inc., and Tyson Foods Inc. adopting strategies such as mergers, acquisitions, and new product development to strengthen their market presence. These companies are also leveraging partnerships and technological advancements to enhance supply chain efficiency and meet evolving consumer demands.
Frozen-cooked Ready Meals Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Vegetarian Meals
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2.1.2 Non-Vegetarian Meals
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2.1.2.1 Chicken Meals
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2.1.2.2 Beef Meals
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2.1.2.3 Other Non-Vegetarian Meals
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2.2 Distribution Channel
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2.2.1 Supermarkets/Hypermarkets
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2.2.2 Convenience Stores
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2.2.3 Online Retailers
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2.2.4 Other Distribution Channels
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 Germany
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2.3.2.3 Spain
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East & Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East & Africa
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Frozen-cooked Ready Meals Market Size FAQs
How big is the Frozen-cooked Ready Meals Market?
The Frozen-cooked Ready Meals Market size is expected to reach USD 41.07 billion in 2024 and grow at a CAGR of 4.95% to reach USD 52.29 billion by 2029.
What is the current Frozen-cooked Ready Meals Market size?
In 2024, the Frozen-cooked Ready Meals Market size is expected to reach USD 41.07 billion.