Dinner RTE Foods Rising In Popularity Globally

  • Friday, 21 April 2017 00:00
  • Published in Business News
  • Read 950 times

The global dinner ready-to-eat foods market is forecast to grow steadily at a CAGR of above six percent by 2021, according to Technavio.

A key driver for the growing ready-to-eat (RTE) foods market is the wide reach of retailers, and the establishment of supermarkets, hypermarkets, and specialty stores. RTE foods are mainly sold by these large retailers, and vendors in the market are dependent on them. Given the growth in demand of RTE foods, the demand for supermarkets is also growing.

The significant growth rate of supermarkets can also be attributed to the growing urbanization and rising disposable income of people. These supermarkets are growing especially quickly in developing countries like India and China.

Increasing disposable income also plays a primary role in raising the demand for supermarkets. The rise in the number of the supermarkets across the globe will expand the growth of the global RTE foods market during the forecast period.

Due to busy schedules, consumers are turning towards convenient products which can be consumed with minimal preparation. Increasing disposable income, rising urbanisation, new product launches, and increased marketing campaigns are some of the factors that will raise the demand for RTE dinner foods.

The global dinner RTE foods market is constantly changing with changing consumer demands and preferences. Manufacturer's performance relies on catering to changing consumer spending habits and taste preferences.

Competition factors in the dinner RTE industry include prices, inclusion of fortified ingredients, preparation time, product and packaging innovation, brand image, and product promotion. The typical frozen RTE food products include frozen pizza, frozen chicken food products, frozen beef foods, and various types of frozen vegetarian foods stored under extremely low temperatures.

The study has revealed supermarkets will dominate the dinner RTE foods market during the forecast period. The ability of supermarkets to provide the flexibility and convenience to choose from a wide array of products at discounted prices is the major contributor to the dominance of this segment in the global market.

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Asia Pacific Food Industry (APFI) is Asia’s leading trade magazine for the food and beverage industry. Established in 1985, APFI is the first BPA-audited magazine and the publication of choice for professionals throughout the industry with its editorial coverage on the latest research, innovative technologies, health and nutrition trends, and market reports.

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