Product innovation, together with the entrance of new brands and companies, supported growth of ready meals in 2019 and these trends are set to continue over the forecast period. New product launches are expected to expand the price range of ready meals and add variety in terms of flavours and formats.
Accelerated lifestyles and a growing awareness of eating habits and the impact they have on wellbeing, are likely to favour convenient products that are perceived as nutritious. Convenience was a driver of innovation over the review period, with companies developing increasingly sophisticated products and packaging that contribute to the value growth of ready meals.
Fresh salads are perceived as a time-intensive dish which requires shopping because the ingredients must be fresh and then rinsed, cleaned, chopped, and dressed. They are also perceived as light and healthy.
The La Moderna brand expanded its ready meals product portfolio through its Buen Comer sub brand. In 2019, Fábrica de Pastas Alimenticias La Moderna offered dried ready meals, including pasta with tomato sauce, pasta with cream, and pasta with olive oil and fine herbs.
Productos Chata markets an extensive variety of ready meals under its Chata brand. In 2019 the brand offered beef, poultry and pork with chili, Mexican sauces or mole, Burritos (flour tortilla with various other ingredients), and tamales (steamed dough filled with Mexican dishes wrapped in cornhusks).
Processed seafood companies focused on expanding their product portfolios of ready meals. In 2019, new products included tuna in green sauce and tuna in three chili sauces by the Dolores brand, and tuna nuggets and pasties by the Tuny brand.
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This industry report originates from Passport, our Packaged Food market research database.