The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreSep 2016
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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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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.
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.
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.
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 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.
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.