Commercial ready-to-cook food market is experiencing significant growth, driven by several key factors. It is expected to reach US$ 2770 million in 2023, with a positive growth rate compared to 2022, and further reach US$ 6048.1 million by 2029, at a CAGR of 13.9%.
This growth is attributed to increasing demand from downstream industries, particularly restaurants, hotels, and food service companies.
To Know more about this report (Description, TOC and List of Tables and Figures) — Commercial Ready-to-Cook Food Market
Key Players
Several major players are present in the commercial ready-to-cook food market, including:
- Stefano Foods
- Stone Gate Foods
- Kraft Heinz Company
- Cargill
- Bruno Specialty
- Fairmont Foods
- Wawona Frozen Foods
- Kerry Group
- Nestle
- General Mills
- Ajinomoto Co
- McCain Foods
- Urban Farmer
- Bellisio Foods
- ADF Foods
These companies offer a wide variety of ready-to-cook products, catering to different cuisines and consumer preferences.
Drivers and Opportunities
Several factors are driving the growth of the commercial ready-to-cook food market:
- Increasing demand for convenience: Busy lifestyles and growing urbanization are leading to a rising demand for convenient food options. Ready-to-cook products save time and effort in meal preparation.
- Growing popularity of ethnic cuisines: Consumers are increasingly interested in trying new flavors and cuisines. Ready-to-cook options make it easier to experiment with international dishes.
- Rising food waste concerns: Ready-to-cook products often come in pre-measured portions, helping to reduce food waste.
- Technological advancements: Advancements in freezing, packaging, and processing technologies are leading to improved product quality and shelf life.
Opportunities for growth in the market include:
- Expansion into new markets: Emerging economies with growing disposable incomes offer significant potential for the market.
- Development of innovative products: Manufacturers can cater to specific dietary needs and preferences with new product offerings.
- Focus on sustainability: Sustainable sourcing and packaging practices can attract environmentally conscious consumers.
Segmentation
The commercial ready-to-cook food market can be segmented in several ways:
By Type:
- Ready-to-Cook Vegetables
- Ready-to-Cook Pasta
- Others (Pre-marinated meats, pre-seasoned rice, etc.)
By Application:
- Hotel
- Fast Food Restaurant
- Chain Restaurant
- Others (Hospitals, Schools, etc.)
By Region:
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Overall, the commercial ready-to-cook food market is poised for continued growth, driven by increasing demand for convenience, diversity, and sustainability.
Companies that can offer innovative products, cater to specific consumer needs, and adopt sustainable practices are likely to succeed in this growing market.
