As a partner and managing director at Disruptiva Works, Luis Miguel Chong Chong develops business to business and market disintermediation strategies to expand revenue and deliver value in the entire agriculture value chain, from small and medium-sized produce growers to retailers and foodservice providers. Luis Miguel Chong Chong also serves as a managing partner at Mega Chef SA de CV, where he oversees the manufacturing, processing, marketing, and distribution of ready-to-eat meals.
Factors such as price, time constraints, income, and food environment affect people’s decision to purchase convenient foods like ready-to-eat meals, which are slowly growing in popularity in the United States and the rest of the world.
According to a report published by Mordor Intelligence, a research organization that delivers data and market insights across a wide range of industries, the global ready-to-eat food market will grow at a compound annual rate of 4.3 percent between 2019 and 2024. While North America will remain the largest consumers of ready-to-eat meals, Europe is catching up, driven in large part by the 18-35 age group. Made up of young consumers, the continent's most populous demographic is willing to pay a premium for convenient meals.
The report also explored the three key market trends that are driving the market growth of ready-to-eat meals. Changes in consumer lifestyles now limit the time spent in preparing home-cooked meals. In addition, rapid urbanization has boosted consumers’ disposable income and, as a result, increased their acceptance of paying more for prepared meals.
Factors such as price, time constraints, income, and food environment affect people’s decision to purchase convenient foods like ready-to-eat meals, which are slowly growing in popularity in the United States and the rest of the world.
According to a report published by Mordor Intelligence, a research organization that delivers data and market insights across a wide range of industries, the global ready-to-eat food market will grow at a compound annual rate of 4.3 percent between 2019 and 2024. While North America will remain the largest consumers of ready-to-eat meals, Europe is catching up, driven in large part by the 18-35 age group. Made up of young consumers, the continent's most populous demographic is willing to pay a premium for convenient meals.
The report also explored the three key market trends that are driving the market growth of ready-to-eat meals. Changes in consumer lifestyles now limit the time spent in preparing home-cooked meals. In addition, rapid urbanization has boosted consumers’ disposable income and, as a result, increased their acceptance of paying more for prepared meals.
