Asia-Pacific Ready-to-Eat Food Market Introduction and Overview
According to SPER Market Research, the Asia-Pacific Ready-to-Eat Food Market is estimated to reach USD 153.16 billion by 2033 with a CAGR of 4.82%.
The report includes an in-depth analysis of the Asia-Pacific Ready-to-Eat Food Market, including market size and trends, product mix, distribution channels, and supplier analysis. Food items that are packaged and prepared and can be eaten right away are referred to as ready to eat (RTE) products. The components are prepared for immediate consumption by washing, cooking, processing, freezing, and packing. Meat products, shelf-stable foods, powder mixes, baked goods, sweets, cheese, and dairy products are a few examples of frequent RTE food kinds. Numerous extracts, acids, tastes, sweeteners, antioxidants, and preservatives are added to enhance these items. They provide the consumer with great convenience, helping to cut down on the time needed to prepare meals, longer product shelf lives, cost effectiveness, and less spoiling and waste.
- In March 2023: Goeld, a well-known frozen food manufacturer in India, debuted its newest product line, which is currently offered at Reliance Retail locations all over the country. The recently unveiled assortment of frozen food items consists of Idlis, Paneer Pakodas, and Pizza Pockets.
- February 2023: The ingenious vending machine that can make rapid meals is the result of a cooperation between Yokai Express, a food-tech business based in the United States, and Pulmuone, a Korean food powerhouse. Furthermore, according to Pulmuone, Yokai Express vending machines can be seen operating at a number of metro stations in Japan.
Market Opportunities and Challenges
Opportunities: The market for prepared foods is expanding significantly. In the near future, there will likely be more frozen ready meals consumed due to the new hybrid working patterns and busy consumer lives. Adults' need for a quick lunch or snack has been fueling the demand for simple, healthful food that can be consumed right away due to their fast-paced existence. Food products that are frozen are thought to be advantageous since they require less time to heat before being consumed. The market has been growing as a result of these factors. The market for ready-to-eat food is driven by consumers' growing need for quick and healthful meal options.
Challenges: On the other hand, it is anticipated that the ready-to-eat food market would expand more slowly in the near future due to the presence of fats in the product as well as unfavorable attitudes and beliefs regarding the health benefits of frozen food.
The primary obstacle impeding the market's growth is increasing health consciousness, particularly among the younger demographic. This is because a lot of products contain a lot of preservatives, which extend their shelf life and replenish the nutrients in food items that are ready to eat. Consequently, a significant segment of the consumer base is gravitating towards the advantages of home-cooked food items that aren't present in prepared food items due to growing health concerns.
Market Competitive Landscape
The ready-to-eat food business in Asia-Pacific is very competitive, with many local and international companies fighting for a bigger piece of the action. In order to improve their brand presence among customers, the major players are working on new product development in addition to implementing strategic techniques including collaborations, mergers, acquisitions, and expansions. Among the top businesses saturating the local market are Unilever, Pondok Abang, Kellogg's Company, Nestlé, and PepsiCo Inc.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | Product Type, By Distribution Channel
|
| Regions covered | China, Japan, Australia, India, Rest of Asia-Pacific
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| Companies Covered | Beyond Meat, Inc., General Mills Inc., GOEL Group, McCain Foods Limited, PepsiCo Inc., Nestlé S.A., Pondok Abang, The Kellogg's Company, Unilever PLC, YO-KAI EXPRESS, Others. |
COVID-19 Impact on Asia-Pacific Ready-to-Eat Food Market
Convenience product demand has increased as a result of the COVID-19 pandemic. Owing to their affordable prices and easy availability, people purchased ready-to-eat or ready-to-cook meals on a regular basis during the epidemic. All hotels, restaurants, and shopping centers have imposed strict lockdown procedures, which have affected eating habits worldwide owing to lockdown and public safety precautions. Due to the lack of eating options, this factor has also led a lot of people to move to home-cooked meals and packaged ready foods that can be delivered to their homes via a number of supermarkets or hypermarkets as well as e-commerce grocery store home delivery possibilities. Fresh food is no longer being purchased in favor of packaged, long-lasting Ready to Eat meals due to concerns about the virus spreading in public areas.
Key Target Audience:
- Consumers
- Retailers
- Foodservice Providers
- Food Manufacturers
- Distributors and Wholesalers
- Caterers
- Health-Conscious Consumers
- Busy Professionals
- Travelers
Our in-depth analysis of the Asia-Pacific Ready-to-Eat Food Market includes the following segments:
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By Product Type:
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Instant Breakfast/Cereals
Instant Soups and Snacks
Ready Meals
Baked Goods
Meat Products
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By Distribution Channel:
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Supermarkets/Hypermarkets
Convenience/Grocery Stores
Speciality Stores
Online Retail Stores
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Key Topics Covered in the Report:
- Asia-Pacific Ready-to-Eat Food Market Size (FY’2024-FY’2033)
- Overview of Asia-Pacific Ready-to-Eat Food Market
- Segmentation of Asia-Pacific Ready-to-Eat Food Market By Product Type (Instant Breakfast/Cereals, Instant Soups and Snacks, Ready Meals, Baked Goods, Meat Products, Others)
- Segmentation of Asia-Pacific Ready-to-Eat Food Market By Distribution Channel (Supermarkets/Hypermarkets, Convenience/Grocery Stores, Speciality Stores, Online, Retail Stores, Others)
- Expansion Analysis of Asia-Pacific Ready-to-Eat Food Market
- Problems and Obstacles in Asia-Pacific Ready-to-Eat Food Market
- Competitive Landscape in the Asia-Pacific Ready-to-Eat Food Market
- Impact of COVID-19 and Demonetization on Asia-Pacific Ready-to-Eat Food Market
- Details on Current Investment in Asia-Pacific Ready-to-Eat Food Market
- Competitive Analysis of Asia-Pacific Ready-to-Eat Food Market
- Prominent Players in the Asia-Pacific Ready-to-Eat Food Market
- SWOT Analysis of Asia-Pacific Ready-to-Eat Food Market
- Asia-Pacific Ready-to-Eat Food Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Asia-Pacific Ready-to-Eat Food Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Asia-Pacific Ready-to-Eat Food Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Asia-Pacific Ready-to-Eat Food Market
7. Asia-Pacific Ready-to-Eat Food Market, By Product Type (USD Million)
7.1. Asia-Pacific Ready-to-Eat Food Market Value Share and Forecast, By Product Type, 2024-2033
7.2. Instant Breakfast/Cereals
7.3. Instant Soups and Snacks
7.4. Ready Meals
7.5. Baked Goods
7.6. Meat Products
7.7. Others
8. Asia-Pacific Ready-to-Eat Food Market, By Distribution Channel (USD Million)
8.1. Asia-Pacific Ready-to-Eat Food Market Value Share and Forecast, By Distribution Channel, 2024-2033
8.2. Supermarkets/Hypermarkets
8.3. Convenience/Grocery Stores
8.4. Speciality Stores
8.5. Online Retail Stores
8.6. Others
9. Asia-Pacific Ready-to-Eat Food Market Forecast, 2020-2033 (USD Million)
9.1. Asia-Pacific Ready-to-Eat Food Market Size and Market Share
10. Asia-Pacific Ready-to-Eat Food Market, By Product Type, 2020-2033 (USD Million)
10.1. Asia-Pacific Ready-to-Eat Food Market Size and Market Share By Product Type (2020-2026)
10.2. Asia-Pacific Ready-to-Eat Food Market Size and Market Share By Product Type (2027-2033)
11. Asia-Pacific Ready-to-Eat Food Market, By Distribution Channel, 2020-2033 (USD Million)
11.1. Asia-Pacific Ready-to-Eat Food Market Size and Market Share By Distribution Channel (2020-2026)
11.2. Asia-Pacific Ready-to-Eat Food Market Size and Market Share By Distribution Channel (2027-2033)
12. Asia-Pacific Ready-to-Eat Food Market, By Region, 2020-2033 (USD Million)
12.1. Asia-Pacific Ready-to-Eat Food Market Size and Market Share By Region (2020-2026)
12.2. Asia-Pacific Ready-to-Eat Food Market Size and Market Share By Region (2027-2033)
12.3. China
12.4. Japan
12.5. Australia
12.6. India
12.7. Rest of Asia-Pacific
13. Company Profile
13.1. Beyond Meat, Inc.
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. General Mills Inc.
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. GOEL Group
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. McCain Foods Limited
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. PepsiCo Inc.
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. Nestlé S.A.
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. Pondok Abang
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. The Kellogg's Company
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. Unilever PLC
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. YO-KAI EXPRESS
13.10.1. Company details
13.10.2. Financial outlook
13.10.3. Product summary
13.10.4. Recent developments
13.11. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
