Future looks bright for ready meal makers

The global market for ready meals is looking at strong growth fuelled by new innovations in packaging according to US research and advisory company TechNavio.

The company is predicting the ready meal market will grow at a CAGR of 4.69 percent over the period of 2012 to 2016.

In TechNavio's report, Global Ready Meals Market 2012-2016, it cited the growing innovation in packaging as a key factor contributing to this market growth.

The researcher also said the ready meal market was being influenced by the increasing concerns about health and wellness among consumers. It also said the rising safety issues associated with ready meals could pose a challenge to the growth of this market.

TechNavio said its report was based on an in-depth market analysis, with inputs from industry experts, and covered the Americas, Europe, and the APAC and the MEA regions.

The report also examines the key companies operating in the space such as Nestlé SA, ConAgra Foods, and H.J. Heinz.