Market Insights Consumer Food Convenience Food

Ready-to-Eat Meals - Canada

Canada

Revenue in the Ready-to-Eat Meals market amounts to €6.62bn in 2024. The market is expected to grow annually by 5.95% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€138bn in 2024).
In relation to total population figures, per person revenues of €169.30 are generated in 2024.
In the Ready-to-Eat Meals market, volume is expected to amount to 0.88bn kg by 2029. The Ready-to-Eat Meals market is expected to show a volume growth of 4.5% in 2025.
The average volume per person in the Ready-to-Eat Meals market is expected to amount to 18.9kg in 2024.

Key regions: Russia, United States, United Kingdom, Canada, India

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Región

Comparación de regiones

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Analyst Opinion

The Ready-to-Eat Meals market in Canada has been experiencing minimal growth, influenced by factors such as consumer preference for convenience foods, increasing health consciousness, and the availability of online meal delivery services.

Customer preferences: The Ready-to-Eat Meals Market of the Convenience Food Market within The Food market in Canada has witnessed a rise in demand for healthier and more sustainable options. This shift is attributed to the increasing awareness of the impact of food choices on personal health and the environment. Consumers are also gravitating towards plant-based and clean label options, reflecting a growing preference for natural and ethically sourced ingredients. This trend is further fueled by the rise of conscious consumerism and the desire for transparency in the food industry.

Trends in the market: In Canada, the Ready-to-Eat Meals market is experiencing a surge in demand for healthier, plant-based options. As consumers become more health-conscious, plant-based and vegan meal options are gaining popularity. Additionally, there is a rising trend of using meal delivery services and meal kits, providing convenience and variety for time-strapped consumers. This trend is expected to continue, with a focus on incorporating more sustainable and environmentally-friendly options in the market. This shift towards healthier and more sustainable options has significant implications for industry stakeholders, who must adapt their offerings to meet the changing demands of consumers. It also presents opportunities for new players to enter the market and cater to this growing segment. As the trend towards plant-based and sustainable options continues, it is crucial for industry stakeholders to stay informed and adapt their strategies to stay competitive in the Ready-to-Eat Meals market.

Local special circumstances: In Canada, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is heavily influenced by the country's diverse cultural landscape. With a large immigrant population, there is a growing demand for convenient and affordable meal options that cater to different dietary preferences and restrictions. Additionally, Canada's strict food safety regulations also play a significant role in shaping the market dynamics, ensuring high-quality and safe ready-to-eat meals for consumers.

Underlying macroeconomic factors: The growth of the Ready-to-Eat Meals Market within the Convenience Food Market within The Food market is also influenced by macroeconomic factors such as consumer spending habits, government regulations, and economic stability. Countries with strong economies and high consumer spending power are likely to experience higher demand for convenient and pre-packaged meals. On the other hand, regions with weaker economies and stricter regulations may see slower growth in the market. Additionally, changing demographics, such as an aging population and busy lifestyles, are also driving the demand for convenient and ready-to-eat meals.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.