Increase in population and cost-effectiveness of these meals are other factors that supplement the market growth. According to the National Institutes of Health (NIH), above 90% of the U.S. population consume ready meals daily, which further boosts the growth of the market. However, health concerns and negative perceptions of customers pertaining to health effects of ready meals hinder the market growth. In addition, events such as horse meat scandal in UK has played a role in drawing consumers away from these meals. Furthermore, manufacturers are unable to ensure consistency and quality with existing transportation and storage systems, which hampers growth prospects of the ready meal market. Thus, manufacturers now focus more on packaging, which plays a significant role in retaining product quality, texture, shelf life, color, and taste of the meals. Manufacturers collaborate with companies involved in packaging to produce innovative and advanced packaging such as biodegradable barrier tray, which is anticipated to drive the ready meals market Demand in the near future.
The frozen pizza segment is expected to dominate the global ready meals market during the forecast period. However, the chilled pizza segment is anticipated to gain traction in the near future. Improvements in nutritional value, ease with which frozen pizza can be cooked, and interesting ingredient profiles are projected to supplement the market growth. In 2021, frozen pizza and chilled pizza segments collectively accounted for more than one-third share in the global ready meal market.
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