“Why was the report written?
This overview of the consumer and market dynamics of the UK’s Prepared Meals sector allows new entrants and established players to gain rapid and comprehensive insight into the current state of the market and identify the key trends that will drive growth in the coming years.
What is the current market landscape and what is changing?
The Prepared Meals market is growing due to the increase in the number of women in the workforce and single-person and one-parent family units. While growth has been steady in local currency terms, closely matching volume growth, volatile exchange rates have added complexity to the market for international companies. For instance, the value of the British pound versus the US dollar fell rapidly during the second half of 2008, and then grew rapidly after 2009. This fluctuation is expected to stabilize in the coming years, showing steady growth.
What are the key drivers behind recent market changes?
The Prepared Meals market is growing in the UK and this growth reflects the busy lives of UK consumers, the increasing numbers of working women, the search for convenience, and declining culinary skills. In addition, growth is also supported by an aging population and the increasing desire to experience global cuisine or to have a restaurant-like experience at home.
What makes this report unique and essential to read?
This report brings together consumer insight and market data to provide a comprehensive brief of the UK Prepared Meals sector. This allows for the rapid identification of key growth opportunities across three Prepared Meals categories and their packaging.”
“Country context
– The UK’s population is aging and becoming increasingly value conscious
– Food & Grocery growth will be concentrated in national chains
– Hypermarkets & Supermarkets and Convenience Stores dominate market distribution for Prepared Meals market in the UK
– Aging population and busy life are two factors impacting eating habits in the UK
Consumer Overview
– Even “Time Rich” consumers shifting towards prepared meals, indicating decline in the cookery skills and habits
– Younger population show high heavy consumption frequency compared to older population
– Busy Lives of the UK consumers, changing demographics and indulgence among key motivators in the Prepared Meals sector
– Busy lives, with increasing number of working women population helping Prepared Meals market to grow in the UK
– Changing lifestyle impacting prepared meals market, however taste still holds the key to success
Sector Analysis
– Busy lives, declining cookery skills and habits fuelling growth in the Prepared Meals market in the UK
– Search for convenience and available variety impacting category winner-loser in the market
– Fluctuating exchange rates have added complexity to the UK’s Prepared Meals market
– Meal Kits providing convenience of cooking ethnic cuisines at home
– Indian, Chinese and other ethnic ready meals are growing fast in the UK
Brands & Private Labels
– Retailer’s increasing range to appeal all type of consumers
– New product development driving the growth of Private Label in the Prepared Meals market in the UK
– Key brands by category
Packaging Insight
– Rigid Plastic continue to be the most preferred packaging material option due to its utility as convenience and safe storage
– Increasing Ready Meals consumption will drive packaging market in the Prepared Meal sector
Future Outlook– four key trends in the UK’s Prepared Meals sector
– Premium Ready meals are an affordable luxury
– Ingredient provenance will play a major role in the growth of Ethnic Ready Meals
– British consumers want to experience global cuisines
– An aging population will create a growing market
Data Appendix & Summary Methodology”
