North America Ready Meals Market Size (2024 - 2029)

North America Ready Meals Market Analysis

The North America Ready Meals Market size is estimated at USD 54.38 billion in 2023, and is expected to reach USD 66.70 billion by 2028, growing at a CAGR of 4.17% during the forecast period (2023-2028).

The demand for ready meal products has surged in markets such as the United States and remained nominal in Mexico and the rest of North America. This may be attributed to consumers stockpiling during the initial stages of the pandemic, however, the average sales of ready meals remained significantly above their pracademic levels as consumers are consuming far more meals at home. Online retailing of these products happens to be one of the reasons for sales growth of these products in countries like the United States and Canada. Consumers in the market are adopting online retailing for weekly grocery shopping which has doubled since the COVID-19 pandemic-resultant lockdown, in a trend that is now irreversible.

Over the period, changing lifestyles of consumers, which involves consuming smaller meals and healthier meals, are leading to the increased consumption of ready-to-eat food or instant products, such as rice, pulses, soups, and others. As these food products are healthier, they are witnessing an increasing demand. Currently, the demand for ready meal kits is increasing in both developed and developing countries, like the North America and Canada respectively, owing to the factor of convenience, which is a deciding factor for consumption of ready meals in lives of consumers with hectic lifestyle.

Additionally, the rise in the number of nuclear families and longer working hours in the region are the primary factors responsible for the increase in consumption of ready-to-eat food products. Working population are the major consumer of ready-to-eat meals, along with the millennial population residing in the market studied.

North America Ready Meals Industry Segmentation

Ready meals are complete meals with two or more combinations of ingredients and can be prepared instantly through microwave or heating.

North America's ready meals market is segmented by product type, category, distribution channel, and geography. By product type, the market is segmented into frozen ready meals, canned ready meals, and dried ready meals. By Category, the market is segmented into conventional ready meals and free-from-ready meals. By distribution channel, the market is divided into supermarkets/ hypermarkets, convenience stores/grocery stores, online retailers, and other distribution channels. The study also involves the analysis of regions such as the United States, Canada, Mexico, and the rest of North America. The market sizing has been done in value terms in USD for all the abovementioned segments.