|
|
 |
|
Viewing report
|
|
|
|
Ready Meals Market Report Plus 2009
Key Note Publications Ltd, Jan 2010, Pages: 98
This Market Report Plus examines the UK ready meals market, which comprises chilled and frozen ready meals. The market experienced year-on-year sales growth between 2005 and 2008, with a particularly healthy increase being seen in 2008 as a result of food-price inflation. However, the recession that began in the UK in the final quarter of 2008 had a negative impact on sales, and this led to an estimated decline of 1.1% for 2009 when the value of the market dropped to £2.18bn. Despite this, sales of ready meals increased by an overall 7.3% over the 2005 to 2009 review period.
Chilled ready meals account for the largest share of the market, and sales in this sector have increased rapidly since the mid 1990s as demand for convenient food has grown. Retailer brands account for the majority of sales, and the major multiples have played a significant role in developing the sector through investment in their own-brand products and ranges of premium and healthy-eating chilled ready meals.
The frozen ready meals sector is long established, but has experienced a lower level of growth in recent years. Brand investment is led by companies such as Birds Eye, Findus and Heinz’s WeightWatchers, although there is also a significant own-brand presence. Unlike in the chilled sector, frozen ready meals have made limited progress with added-value activity and, while healthy-eating options have made some gains, premium branding attempts have been less successful.
The rapid development of ready meals from the 1990s led many suppliers to invest in expanding plant and facilities to meet actual and anticipated contracts, and this resulted in some overcapacity in the market. Combined with this was pressure from retailers to keep costs down, thus squeezing the margins available for producers. As a result, the economic downturn has brought with it some consolidation in the manufacturing base.
Due to the UK recession, the premium paid by ‘cash-rich, time-poor’ consumers became less relevant to the market as consumer incomes and spending on food dipped dramatically, and many households switched to less convenient but cheaper options, such as cooking from scratch or using prepared ingredients or sauces. However, ready meals continue to offer a relatively affordable alternative to eating out, and they are also a cheaper option for consumers who require a night off from cooking. The concept of dining-in packages has been a key tool used by many retailers to retain consumer interest in ready meals. This type of promotion involves the offer of a main meal with accompaniments, such as a starter, dessert or wine, for a fixed price well below the cost of the individual components.
The authors anticipate that sales of ready meals in the UK will rise by 1.7% to £2.22bn in 2010 as the economy begins its gradual recovery, and will go on to show healthy growth rates in the remaining forecast years to 2014. Sales of healthy-eating and organic meals are expected to rise as household disposable income increases, and premium brands will be strongly positioned as they have continued to do well in the downturn and have a strong basis for further growth.
Product samples
A sample for this product is available. Please Login/Register to download this sample.
Customers who bought this item also bought
Ready Meals - Global Strategic Business Report
Global Frozen Food Market Analysis By Products Type And By Geography - Trends And Forecasts (2010 – 2015)
Ready Meals Market Report Plus 2011
Frozen Prepared Food - Global Outlook
Frozen Foods - A Global Market Overview
Consumer Trends in the Prepared Meals Market in the UK
Ethnic Foods Market Report Plus 2011
United Kingdom: Food, Beverages, and Tobacco Industry Guide
Diet Foods - Global Strategic Business Report
Consumer Trends in the Chilled & Deli Foods Market in the UK
|
|
|
|
