Review of Ready-to-Eat Meal Products Market in North America
The total revenue for the North American ready-to-eat meal products market was $ billion in 2014 and is expected to reach $ billion in 2021, at a compound annual growth rate (CAGR) of %.
Expanding urban population, increasing women workforce percent, and development of better technologies to improve the shelf life of products are the key drivers for this market. The growing ethnic diversity in the North American region will lead to more innovations in flavors and taste.
Young cooks are dynamic and are looking for a fast cooking product with balanced nutrition.
Contamination, unstructured distribution, and expensive storage costs are the factors inhibiting market growth.
Marketing campaigns are the key for reaching out to consumers. Manufacturers need to invest in campaigns to create awareness about the safety of ready-to-eat meal products.
Unstable raw material prices, high logistics costs, strict regulations, and market maturity are the factors inhibiting the growth of this market.
About this report
Ready-to-eat meals are perishable products with a shelf life of 2 to 24 weeks. Convenience and increasing urban population and women work force are the key factors driving market growth. Health-conscious consumers prefer low-salt and less processed foods. Consumers have a perception that ready-to-eat meal products are over processed for better shelf life. Cost-conscious consumers opt out of dining at restaurants and choose ready-to-eat meals as a substitute for fast foods.
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