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World Market for Cooking Ingredients and Meals

December 2022

The cooking ingredients and meals industry is predicted to see 3% growth in 2022, driven by inflationary pressures and hybrid lifestyles, resulting in consumers spending more time at home. This report looks at the key trends shaping the industry, including health and functionality, innovation in the plant-based segment and the increasing demand for experiences within the home, as well as convenient solutions that can aid the cooking journey.

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This report comes in PPT.

Key Findings

Inflation surge results in shifts in company strategies and consumers’ purchasing behaviour

Inflationary pressures are contributing to the strong value sales seen in the industry but will continue to pose challenges to volume growth in the near term. Changes in pack mix, reformulation and SKU rationalisation are being followed by manufacturers, while many consumers are becoming less brand loyal and downtrading.

Health will remain pivotal, with innovation around positive nutrition and functionality

Penetration of health claims remains small in the cooking ingredients and meals industry. Organic and clean label-related claims lead the way, but opportunities abound to develop offerings with functionality and attractive nutritional profiles. This can change the perception that certain meals and condiments are heavily processed.

Restaurant-at-home strategies are necessary to win, in line with hybrid lifestyles

Sales of cooking ingredients and meals through foodservice have still not recovered to pre-pandemic levels. Hybrid working arrangements and lower disposable incomes are benefiting the restaurant-at-home trend, as consumers increasingly look for in-home experiences that can replicate restaurant-style meals.

Demand for convenient solutions that aid the cooking journey increases

Cooking fatigue and time-poor lifestyles will make convenience a long-term strategy to win in the industry. Ready to eat, and simple to assemble heat-and-eat options are gaining ground. Prepared salads and offerings in chilled formats will drive growth in the meals space, benefiting from their natural and fresh image.

Plant-based expands across the cooking ingredients and meals spectrum

Plant-based innovation is intensifying in meals, sauces, dips and condiments. From a positioning perspective, vegan and vegetarian claims are used most in the industry, while many opportunities remain in using more holistic claims, such as plant-based.


Examining five trends shaping cooking ingredients and meals
Hybrid lifestyles drive sustained growth for cooking ingredients and meals
Supply bottlenecks put prices to record highs resulting in strong value growth
Edible oils and meals saw the strongest growth over the review period…
…and are set to deliver the highest value growth in the forecast period too
Brazil and Nigeria offer opportunities in the industry over the forecast period
Asia Pacific and Western Europe to see the largest absolute growth in meals and soups
Sauces and condiments continue to diversify and gain ground
Quick recipe kits and dry ready meals to drive the strongest performance in China
The sauces category registers the largest unmet potential in the Indian market
E-commerce continues its successful journey in the industry
Key strongholds in the cooking ingredients and meals industry lose ground
Meals and soups and edible oils offer further opportunities for private label
The new value equation: Very prevalent in the meals category in Australasia
Private label booms in chocolate spreads in Argentina
The key players in the industry lose share, except for Hello Fresh and Adani Group
Nascent categories, affordability and shifts from foodservice to retail drive company growth
Examining five trends shaping cooking ingredients and meals
Inflation has resulted in consumer downtrading and impacted company strategies
Company strategies are targeted at coping with inflation and supply chain disruptions
An array of strategies is seen in edible oils to ensure accessibility to consumers
Consumers increasingly look for good nutrition and healthy ingredients
Soup positions itself as a nutritious meal to improve performance
Capture opportunities in emerging markets while a revamp is needed in mature markets
Restaurant-at-home opportunities become key in line with the cost of living crisis
Manufacturers innovate to recreate consumers’ favourite meals at home
Restaurant-at-home trend helps to boost demand for meal kits
Meal kits evolve to target a more polarised consumer base that looks for value vs premium
Convenience is paramount, but in fresh and chilled formats
Picard’s Mix & Mia disrupts the frozen aisle in France with convenient meal solutions
Vegan meals blossom around the globe, with the trend being driven by Western Europe
From street food-inspired ready meals to meal kits: Plant-based spreads across the spectrum
B-Well vegan-friendly mayonnaise disrupts the category in South Africa
Global snapshot of edible oils
Global snapshot of meals and soups
Global snapshot of sauces, dips and condiments
Global snapshot of sweet spreads
Regional snapshot: Asia Pacific
Regional snapshot: North America
Regional snapshot: Latin America
Regional snapshot: Western Europe
Regional snapshot: Middle East and Africa
Regional snapshot: Eastern Europe
Regional snapshot: Australasia


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