Executive Summary

Nov 2018
PROSPECTS
New product development activity drives growth

Convenience was the key driver behind the growth of ready meals in 2018, with strong new product development activity focusing on offering convenient meal options to time-constrained consumers. While consumers remain acutely aware of the importance of healthy and nutritious meals, the increasingly time-poor nature of many cosmopolitan and urban consumers means demand for healthy ready meal options continues to increase.

A subdued performance for dinner mixes

Buoyed by increased interest in Mexican cuisine, dinner mixes was one of the standout performers in terms of value sales growth during the review period. In 2018, however, the value sales growth of dinner mixes dropped, with demand for Mexican cuisine seemingly having reached its plateau point.

Unit prices are on the rise

Perhaps unsurprisingly, given the influence that premiumisation had in 2018 on value sales growth, unit price growth was strong in 2018, driven not by increasing commodity or input prices, as was the case in other cooking ingredients categories, but rather by increased penetration of premium-orientated products. Changes in the orientation of private label product offerings from both Progressive Enterprises Ltd and Foodstuffs (NZ) Ltd have meant that focus has shifted towards a mid-priced positioning and away from an economy positioning, in line with more sophisticated consumer preferences.

COMPETITIVE LANDSCAPE
Heinz Wattie’s leads heavily segmented ready meals

Owing to the diverse range of categories and product types, ready meals is heavily segmented, with only Heinz Wattie’s Ltd holding a double-digit value share. The company’s strongest performance is in shelf stable ready meals where it is easily the dominant player.

Pies drive Goodman Fielder’s performance

Goodman Fielder New Zealand Ltd is projected to maintain a leading place in ready meals in 2018, attributable to its leadership of chilled ready meals through its Irvines brand. Goodman Fielder announced in 2017 that it planned to close two factories in Auckland, consolidating their production into a single site, and moving its pie-making operation to Palmerston North, as part of an efficiency drive in what the company labelled “a very competitive market”.

The performance of General Mills is tied to dinner mixes

General Mills NZ Ltd was one of the standout performers within ready meals over the review period. However, with its fortunes tied to dinner mixes, 2018 is expected to be a difficult year for the company.

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Ready Meals in New Zealand

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Overview

Discover the latest market trends and uncover sources of future market growth for the Ready meals industry in New Zealand with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Ready meals industry in New Zealand, our research will save you time and money while empowering you to make informed, profitable decisions.

The Ready meals in New Zealand market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Ready meals in New Zealand?
  • What are the major brands in New Zealand?
  • Will retail sales suffer as economic prospects improve and consumers move back to eating out rather than eating at home?
  • How are manufacturers leveraging popular restaurant chains to help more austere consumers recreate a restaurant experience at home?
  • How much are consumers willing to pay for convenience?

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

This industry report originates from Passport, our Packaged Food market research database.

Ready Meals in New Zealand - Category analysis

HEADLINES

PROSPECTS

New product development activity drives growth
A subdued performance for dinner mixes
Unit prices are on the rise

COMPETITIVE LANDSCAPE

Heinz Wattie’s leads heavily segmented ready meals
Pies drive Goodman Fielder’s performance
The performance of General Mills is tied to dinner mixes

CATEGORY DATA

Table 1 Sales of Ready Meals by Category: Volume 2013-2018
Table 2 Sales of Ready Meals by Category: Value 2013-2018
Table 3 Sales of Ready Meals by Category: % Volume Growth 2013-2018
Table 4 Sales of Ready Meals by Category: % Value Growth 2013-2018
Table 5 Sales of Chilled Ready Meals by Ethnicity: % Value 2013-2018
Table 6 Sales of Frozen Ready Meals by Ethnicity: % Value 2013-2018
Table 7 NBO Company Shares of Ready Meals: % Value 2014-2018
Table 8 LBN Brand Shares of Ready Meals: % Value 2015-2018
Table 9 Distribution of Ready Meals by Format: % Value 2013-2018
Table 10 Forecast Sales of Ready Meals by Category: Volume 2018-2023
Table 11 Forecast Sales of Ready Meals by Category: Value 2018-2023
Table 12 Forecast Sales of Ready Meals by Category: % Volume Growth 2018-2023
Table 13 Forecast Sales of Ready Meals by Category: % Value Growth 2018-2023

Packaged Food in New Zealand - Industry Overview

EXECUTIVE SUMMARY

Three key trends in packaged food
Innovation drives value growth
Private label refresh from both major supermarket chains
Supermarkets maintain their stronghold
Future economic uncertainty clouds performance forecasts

FOODSERVICE

Sales to Foodservice
Stable growth continues
Plain noodles continues to lead
Goodman Fielder continues to lead
Consumer Foodservice
Uber Eats having a disrupter effect
Post-Lions tour hangover
Health and wellness key driver behind growth
Category Data
Table 14 Foodservice Sales of Packaged Food by Category: Volume 2013-2018
Table 15 Foodservice Sales of Packaged Food by Category: % Volume Growth 2013-2018
Table 16 Forecast Foodservice Sales of Packaged Food by Category: Volume 2018-2023
Table 17 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2018-2023

MARKET DATA

Table 18 Sales of Packaged Food by Category: Volume 2013-2018
Table 19 Sales of Packaged Food by Category: Value 2013-2018
Table 20 Sales of Packaged Food by Category: % Volume Growth 2013-2018
Table 21 Sales of Packaged Food by Category: % Value Growth 2013-2018
Table 22 GBO Company Shares of Packaged Food: % Value 2014-2018
Table 23 NBO Company Shares of Packaged Food: % Value 2014-2018
Table 24 LBN Brand Shares of Packaged Food: % Value 2015-2018
Table 25 Penetration of Private Label by Category: % Value 2013-2018
Table 26 Distribution of Packaged Food by Format: % Value 2013-2018
Table 27 Distribution of Packaged Food by Format and Category: % Value 2018
Table 28 Forecast Sales of Packaged Food by Category: Volume 2018-2023
Table 29 Forecast Sales of Packaged Food by Category: Value 2018-2023
Table 30 Forecast Sales of Packaged Food by Category: % Volume Growth 2018-2023
Table 31 Forecast Sales of Packaged Food by Category: % Value Growth 2018-2023

SOURCES

Summary 1 Research Sources