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Americas Ready-to-Eat Meals Market is expected to reach 266.44 billion by 2030

Americas Ready-to-Eat Meals Market is growing at a CAGR of 5.2% to reach 266.44 billion by 2030 from US$ 177.81 billion in 2022 by Type, Category, and End User.

By The Insight Partners

Escalating Sales of Ready-to-Eat Meals through Online Channels Drives Americas Ready-to-Eat Meals Market

Ready-to-eat meals are precooked & packaged food products that can be consumed on-the-go and without any hassle. Sandwiches, wraps, pizzas, burgers, pasta and noodles, curries and gravies, burritos, and rice bowls are some of the widely consumed ready-to-eat meals. Lifestyle and buying behavior of Americans have changed dramatically due to busy schedules, the rising number of dual-income households, and extended working hours. People prefer ready-to-eat meals to reduce cooking time and effort. This factor has contributed to the growth of the ready-to-eat meals market across the Americas.

The emergence of e-commerce has transformed the way people shop and purchase food products. The rising penetration of the internet and smartphones, quick access to emerging technologies, rising purchasing power, and convenience provided by online retail shopping platforms are among the key factors bolstering e-commerce. Per the US Department of Commerce Retail Indicator Division, e-commerce sales in the US reached US$ 870 billion in 2021, up by 14.2% from 2020. Furthermore, online grocery sales grew by 170% in 2021 than 2020, accounting for 9.6% of total grocery sales in the US.

People are increasingly preferring online retail channels for buying ready-to-eat meals. The online sales of food and beverages grew significantly during the COVID-19 outbreak due to the shutdown of brick-and-mortar marts and stores and the imposition of several social restrictions by governments of various countries across the globe. Per the “2020 Food and Health Survey” of 1,011 Americans (aged between 18 to 80 years) conducted by the International Food Information Council in 2020, 33% of consumers shopped for food products online, indicating an increase in online shopping compared to 27% in 2019. With the rising penetration of e-commerce across multiple geographies, the manufacturers of ready-to-eat meals are also enhancing their online presence by selling products through Amazon, Tesco, Walmart, and other well-known e-commerce platforms. The growing adoption of e-commerce platforms is eliminating the dependency on offline retail stores. Thus, the increasing prevalence of online channels and rising food product sales are contributing to the growth of the ready-to-eat meals market.

Tyson Foods Inc, SK Chilled Foods, Fresh Grill Foods LLC, Dandee Sandwich Co, Taylor Farms, Calavo Growers Inc, Hearthside Food Solutions LLC, EA Sween, FreshRealm, and TripleSticks among the key players operating in the Americas ready-to-eat meals market.

Impact of COVID-19 Pandemic on Americas Ready-to-Eat Meals Market Growth

Before the COVID-19 pandemic, many countries in North America and South & Central America reported economic growth. Manufacturers invested in research to develop packaging technology and expansion of ready-to-eat meals product portfolio. The ready-to-eat meals market was majorly driven by time constraints caused by busy lifestyles, increasing disposable income, high demand for convenience food, and a shift in consumer buying behavior. In early 2020, lockdowns and border restrictions imposed by governments of various countries in these regions during the COVID-19 pandemic adversely affected the agri-food and ingredient supply chains in American countries. Ready-to-eat meal manufacturers suffered significant economic losses during the first wave of the pandemic due to trade restrictions and processing unit shutdowns. During the pandemic, supply chain disruptions, labor shortages, and operational difficulties created a demand and supply gap, which adversely affected the Americas ready-to-eat meals market growth. Manufacturers reported challenges in sourcing raw materials and ingredients from suppliers, impacting the production rate of ready-to-eat meals.

Closures of restaurants, institutions, and universities, along with the initiation of homeschooling and work from home during the pandemic, increased the frequency of home cooking. The pandemic also affected the eating and buying behavior of customers and led to growing interest in home cooking and baking. A report by Agri-Food Analytics Lab at Dalhousie University revealed that 55.9% of people prepared most of the meals themselves in Canada in 2020. Therefore, lockdowns resulted in an initial decline in ready-to-eat meal sales in the Americas. The sales of ready-to-eat meals increased with the resumption of services by quick service restaurants and cafes at the end of 2021. The revival of supermarkets, food service, and food retail increased the sales of ready-to-eat meals, further amplified by growing food product sales from e-commerce platforms.

The "Americas Ready-to-Eat Meals Market Analysis to 2030" is a specialized and in-depth study of the food & beverages industry, focusing on the Americas ready-to-eat meals market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The Americas ready-to-eat meals market is segmented on the basis of type, category, and end user. Based on type, the market is segmented into rice bowls, wraps, salads, burritos, gravies and curries, noodles and pasta, pizza, soups and stews, meat entrees, burgers, sandwiches, and others. In terms of category, the market is bifurcated into gluten-free and conventional. Based on end user, the Americas ready-to-eat meals market is segmented into HoReCa, institutions, households, and others. In 2022, based on type, the noodles and pasta segment dominated the Americas ready-to-eat meals market, whereas the salads segment is expected to be the fastest growing segment in the market. Ready-to-eat pasta meals are designed for quick-serve and require minimal cooking. Manufacturers launch ready-to-eat noodles in several categories, such as vegan, gluten-free, or organic noodles, making it a more convenient meal option.

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