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Strategy Briefing

Ready Meals: Challenges and Opportunities To Reach Market Potential

33 pages, Sep 2016

US$1,325

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About This Report

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

Meeting the market potential for ready meals presents major challenges, with intense price battles in developed markets and an uncertain macro-economic context in emerging markets. Strategies to tap into the unmet market potential include healthier recipes and products adapted to on-the-go consumption to meet demand for healthier snacks, alongside wider distribution, particularly in convenience stores, in order to take share from foodservice outlets.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

Large unmet market potential in chilled ready meals in China and the US

Although ready meals sales are forecast to remain more dependent on developed markets than other packaged food categories, the unmet market potential is high in key emerging markets, notably China. Meeting the market potential would involve more varied products and wider distribution. Among developed markets, the US has the world’s highest unmet market potential for chilled ready meals, which may be achieved mostly through encroaching on adjacent categories, but also by increasing the assortment at convenience stores.

Competition from foodservice encourages shift towards premium and “authentic” ranges

Reaching the unmet market potential in ready meals, particularly for pizza, involves tapping into foodservice demand, notably by competing against takeaways. This is encouraging manufacturers to develop more premium ranges, mirror ethnic food trends, and seek collaborations with foodservice chains or celebrity chefs. This also feeds demand for more “authentic” and regional recipes, and for greater ingredient traceability.

Ready meals seek to target healthy snacking and on-the-go consumption

Responding to the increasing overlap between snacking occasions and meals in eating habits, especially among young adults, manufacturers seek to adapt their offer with ready meals suitable for on-the-go consumption, and are responding to the rise in demand for more nutritious and healthier snacks.

Free-from, organic and vegetarian ranges make inroads

Free-from and organic ready meals are outperforming overall ready meals sales in the US and Western Europe. Some US organic brands are making inroads following their acquisition by major global food companies, enabling them to reach wider distribution, while retailers focus on organic private label ranges. The emergence of new ranges targeting vegetarians is being driven in part by the rise in the number of so-called “flexitarians”, who actively reduce meat consumption.

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Introduction

Scope

About Euromonitor International’s Industry Forecast Model

Key findings

Evaluating Unmet Market Potential

Developed markets and Russia drive global growth

S hift from frozen towards chilled ready meals in key markets

Chilled and frozen ready meals: Emerging markets’ rapid growth

Sales by storage type: Chilled fuels growth in developed markets

C hilled and frozen ready meals show diverging market potential

Market potential remains mostly determined by developed markets

Chilled ready meals: Sharp contrasts in levels of market potential

Largest country/category combinations for unmet market potential

Chilled ready meals vs convenience store fast food: Overlap grows

Chilled pizza growth in Europe, frozen pizza stagnation in the US

Barriers to Realising Unmet Market Potential

Recession in Brazil and Russia hits growth in ready meals

Impact of disorderly Brexit: P remium ready meals to be most hit

Pizza retail vs foodservice: Positive correlation despite competition

O pportunities and challenges from consumer foodservice pizza

Convenience stores fast food undermines potential for ready meals

Access to refrigeration still hinders chilled and frozen ready meals

Rise of modern grocery channels boosts sales in emerging markets

Private label and discounters: Obstacle or boon to ready meals?

Strategies to Meet Unmet Market Potential

Sophisticated and authentic ethnic ranges follow foodservice trends

Natural ingredients and organic brands drive ready meals growth

On-the-go and snacking: New ready meals consumption occasions

Online growth and premiumisation to meet foodservice demand

New consumer habits fuels growth strategies for vegetarian ranges

Conclusion

Market potential shaped by macro-economic and distribution shifts

K ey recommendations: Health, snacking and foodservice trends

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Megatrends

Strategy Briefing

Ready Meals: Challenges and Opportunities To Reach Market Potential

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Large unmet market potential in chilled ready meals in China and the US

Competition from foodservice encourages shift towards premium and “authentic” ranges

Ready meals seek to target healthy snacking and on-the-go consumption

Free-from, organic and vegetarian ranges make inroads

Want to find out more about this report?

Table of Contents

Introduction

Scope

About Euromonitor International’s Industry Forecast Model

Key findings

Evaluating Unmet Market Potential

Developed markets and Russia drive global growth

S hift from frozen towards chilled ready meals in key markets

Chilled and frozen ready meals: Emerging markets’ rapid growth

Sales by storage type: Chilled fuels growth in developed markets

C hilled and frozen ready meals show diverging market potential

Market potential remains mostly determined by developed markets

Chilled ready meals: Sharp contrasts in levels of market potential

Largest country/category combinations for unmet market potential

Chilled ready meals vs convenience store fast food: Overlap grows

Chilled pizza growth in Europe, frozen pizza stagnation in the US

Barriers to Realising Unmet Market Potential

Recession in Brazil and Russia hits growth in ready meals

Impact of disorderly Brexit: P remium ready meals to be most hit

Pizza retail vs foodservice: Positive correlation despite competition

O pportunities and challenges from consumer foodservice pizza

Convenience stores fast food undermines potential for ready meals

Access to refrigeration still hinders chilled and frozen ready meals

Rise of modern grocery channels boosts sales in emerging markets

Private label and discounters: Obstacle or boon to ready meals?

Strategies to Meet Unmet Market Potential

Sophisticated and authentic ethnic ranges follow foodservice trends

Natural ingredients and organic brands drive ready meals growth

On-the-go and snacking: New ready meals consumption occasions

Online growth and premiumisation to meet foodservice demand

New consumer habits fuels growth strategies for vegetarian ranges

Conclusion

Market potential shaped by macro-economic and distribution shifts

K ey recommendations: Health, snacking and foodservice trends

Why buy this report?

Want to find out more about this report?

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