The prepared meals market is one of the largest in the world, with more than 90% of the US population consuming ready-to-eat meals daily. The global prepared meals market is expected to grow at a CAGR of 4% between 2016-2020. This growth is driven by the convenience offered to students and working professional scoping with an increasingly hectic schedule.
Despite the conveniences of time and effort saved, ready-to-eat foods are negatively perceived among health-conscious consumers, who associate the consumption of these products with a rise in obesity and lifestyle-related diseases. These doubts are hampering the market’s growth prospects. Furthermore, several manufacturers are not able to ensure the consistency and quality of their products given the storage and transportation facilities available to them.
Manufacturers are focusing on improving the packaging these meals to increase product quality, taste, shelf life, and appearance. The result is an increased number of collaborations between manufacturers and packaging companies to develop innovative packaging like biodegradable barrier trays. Such efforts may help to promote a more positive image of ready-to-eat meals
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ConAgra Brands Inc.
- Country : United States
- Turnover : USD 11.6 billion
- Position : Founded in 1919 by Frank Little and Alva Kinney, ConAgra is a North American packaged food company.
HJ Heinz Company Ltd
- Country : United States
- Turnover : USD 11.64 billion
- Position : Founded in the nineteenth century by Henry J. Heinz, JH Heinz Company is an American food processing subsidiary that has merged with Kraft Foods.
- Country : Switzerland
- Turnover : USD 93.59 billion
- Position : Nestlé, a Swiss food company, has ranked largest in the world by revenues in 2014, 2015, and 2016.
Bakkavor Group Limited
- Country : St. Pierre & Miquelon
- Turnover : USD 1.9 billion
- Position : The Bakkavor group is a food manufacturing company which specialises in prepared meals.
Kerry Foods Ltd.
- Country : Ireland
- Turnover : USD 6.98 billion
- Position : Kerry group is a public food company with businesses in consumer foods, agribusiness, and ingredient and flavor manufacturing.