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TECHNAVIO.COM 30 GLOBAL READY MEALS MARKET 2016-2020 Market size and forecast The ready meals market in the US was valued at $17.91 billion in 2015. It is expected to reach $18.31 billion in 2020, growing at a CAGR of 0.44%. Ready meals market in the US 2015-2020 ($ billions) Source: Technavio, 2015 UK The ready meals market is expected to grow at a steady rate during the forecast period in the UK. The chilled ready meals accounted for nearly two-third of the market share in the country. Convenience and affordable prices of ready meals are driving market growth in the UK. People in the age bracket of 25-34 years are the primary target market segment for these products. The market is dominated by private label players, with Tesco as the dominant player in 2014, followed by Dr Oetker. 17.91 17.98 18.05 18.13 18.21 18.31 0.39% 0.39% 0.42% 0.47% 0.55% 0.0% 0.1% 0.2% 0.3% 0.4% 0.5% 0.6% 17.7 17.8 17.9 18.0 18.1 18.2 18.3 18.4 2015 2016 2017 2018 2019 2020 Revenue Growth rate Major driver High preference for convenience foods Major challenge Intense competition among vendors Major trend Demand for organic ready meals EMISPDF in-isb_emis from 202.174.120.162 on 2018-07-27 15:04:30 BST. DownloadPDF. Downloaded by in-isb_emis from 202.174.120.162 at 2018-07-27 15:04:30 BST. EMIS. Unauthorized Distribution Prohibited.
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TECHNAVIO.COM 31 GLOBAL READY MEALS MARKET 2016-2020 Market size and forecast The ready meals market in the UK was valued at $4.63 billion in 2015, which is expected to reach $5.16 billion in 2020, growing at a CAGR of 2.19%. Ready meals market in the UK 2015-2020 ($ billions) Source: Technavio, 2015 Japan According to research studies in 2012, prepared meals ranked sixth in the Japanese consumer preference scale, in which ready meals acquired the biggest share of nearly 80% in the prepared meals sector. Frozen and chilled ready meals are popular among the people of Japan. The consumers are however reluctant to pay more for these types of meals. An increase in the number of working women population is driving the market in Japan. In 2010, nearly 50% of the women in Japan were a part of the country’s work fo rce. Due to the hectic work schedules, these women often demand meals that are easily prepared and contain nutritious content. 4.63 4.72 4.82 4.93 5.04 5.16 1.94% 2.12% 2.18% 2.34% 2.38% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 4.3 4.4 4.5 4.6 4.7 4.8 4.9 5.0 5.1 5.2 2015 2016 2017 2018 2019 2020 Revenue Growth rate Major driver Growing desire for convenience Major challenge Economic uncertainities Major trend Demand for ethnic flavor ready meal products EMISPDF in-isb_emis from 202.174.120.162 on 2018-07-27 15:04:30 BST. DownloadPDF. Downloaded by in-isb_emis from 202.174.120.162 at 2018-07-27 15:04:30 BST. EMIS. Unauthorized Distribution Prohibited.
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TECHNAVIO.COM 32 GLOBAL READY MEALS MARKET 2016-2020 Market size and forecast The ready meals market in Japan was valued at $3.65 billion in 2015. It is expected to reach $4.08 billion in 2020, growing at a CAGR of 2.25%.
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  • Summer '18
  • Sagar Arora
  • Marketing, TV dinner, ready meals, EMIS. Unauthorized, ready meals market

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