Ready to eat food is defined as an animal and plant derived food that is washed, cooked, frozen and processed to be consumed directly after heating. The process saves time and energy of the consumers. People now prefer nutritional small quantity of ready to eat food rather than traditional large meals due to busy lifestyle.
Market Trends
Global ready to eat food market is expected to reach USD 172 billion by the end of 2023 witnessing a promising compound annual growth rate of 7.3% over this period owing to the changing lifestyle of consumers. Ready to eat food products are more popular among the younger consumers as they hardly find time to cook food due to their busy lifestyle.
Soup production is a rapidly developing and innovative category worldwide, with an already wide and growing range of value-added soup products with homemade taste and ready-to-eat convenience. Large markets are converting from homemade consumption and this places high demands on your production and product innovation, to develop products that match each market’s unique preferences in terms of flavours and level of convenience – from soup components to ready-to-eat soups.
REGIONAL INSIGHTS
- North America: largest market
- Europe
- Asia-Pacific: fastest growing market
- Middle East and Africa
CFT GROUP SOLUTION
Integrated plants for soups, sauces and ready meals preparation and formulation.
Source:
mordorintelligence.com
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