Meals and soups is expected to see retail volume and current value growth throughout the forecast period. The largest category, frozen ready meals, is expected to see slow but stable volume growth, but much higher growth is expected in current value terms due to premiumisation.
E-commerce grocery retailer DingDong launched a new brand in ready meals and quick recipe kits in early 2022, serving the business side, such as foodservice outlets and hotels. The new brand will develop SKUs based on the best-sellers on DingDong grocery, adapting them for business needs.
In general, the soup category is quiet in terms of new product development. However, premiumisation is expected to come from the inclusion of ingredients that are relatively more expensive, which will drive a better performance in current value terms than in volume terms.
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Meals and Soups
This is the aggregation of ready meals, pizza, food kits, prepared salads, and soup. Includes: These are products that have had recipe 'skills' added to them by the manufacturer, resulting in a high degree of readiness, completion and convenience. Food kits is an exception where typically the extent of preparation is much shorter than other meal products; includes meal kits where consumers are to put together pre-portioned ingredients and cook with the guidance of recipe cards. Ready meals are generally accepted to be complete meals that require few or no extra ingredients. However, in the case of shelf stable ready meals, the term also encompasses meal 'centres’; for food kits, they do require a degree of cooking and preparation. As such, some meals may require cooking (ready-to-cook); others may simply need reheating, prior to serving (ready-to-eat). Excludes: Any products sold unpackaged and/or by weight, including food sold from a retail deli counter.See All of Our Definitions
This report originates from Passport, our Meals and Soups research and analysis database.
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