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Consumer Trends in the Prepared Meals Market in China
Canadean Ltd, March 2012, Pages: 74
Synopsis
This report provides the results for the Chinese Prepared Meals market from Canadean’s unique, highly detailed and proprietary survey of consumers’ Consumer Packaged Goods (CPG) consumption habits, and forms part of an overall series covering all CPG product markets.Its coverage includes, but is not limited to, consumption behaviourbehaviors, the extent to which consumer trends influence their consumption and the value of the market these trends influence, brand and private label choices as well as retailer choices. Much of this information can also be analyzed by specific consumer group, providing hard and fast data on consumers and markets at the product category level.
Summary
Why was the report written?
Marketers in the Prepared Meals market face a major challenge. Understanding market size and segmentation is valuable, but the keys to effective targeting is knowing just how valuable specific consumer groups are, and being able to quantify the impact of consumer trends.This report solves these problems by providing integrated survey-based data on consumer trends, consumer groups and market data which show exactly the size of consumer groups, how much of the Prepared Meals market they account for and which consumer trends drive their behaviourbehavior.
What is the current market landscape and what is changing?
The rapid pace of development in China, combined with younger generations being more frequent consumers of these products is likely to sustain long-term growth in the market. However, to maximize sales marketers should see to maximize the potential the particular hotspot of growth offer.As consumer confidence increases proportionally to economic recovery, consumer trends will be directly affected. Since the global financial crisis of 2008–2009 the retail market has been characterized by an increased amount of discount and own-brand products. Meal kits, pizza, ready meals are not considered essential items and therefore consumption patterns have been comparatively affected. As economic and market recovery continues over 2012, consumption patterns will record a positive trend in both the Medium and Heavy frequency bands and the amount of Non-users should decrease.
What are the key drivers behind recent market changes?
Consumers’ uptake of products and the influence of consumer trends are fundamental causes of change in markets – making knowing what these trends are and the extent of their influence crucial.The survey-based data provided in this report examines over 20 consumer trends that affect the market and examines the share of sales across 26 consumer groups – providing through the data a detailed insight into exactly who the consumer is and just how much impact the latest consumer trends are having.
What makes this report unique and essential to read?
The data provided is unique in the market as it tracks consumer behaviourbehavior through to its actual value impact on a product market. This provides readers with a unique data analysis of the market allowing marketing tactics and strategy to be updated in line with the very latest consumer behaviourbehaviors.
Scope
Consumer survey data for the following specific categories: the meal kits, pizza, ready meals markets.
Detailed consumer segmentation based on survey data covering over 26 consumer groups, 20 consumer trends and consumption frequency for each product category.
Volume shares in 2011 for brands and private label sales tracked by the survey.
Unique retailer choice and switching data as tracked by the survey are provided at the product category level for 2011.
Reasons To Buy
Unique proprietary data that sizes and segments consumers, tracks their behavior and shows the impact of this on their markets
Results also cover over 20 consumer trends, showing exactly to what extent these trends have a direct influence on a market. As this impact assessment is based not only on how many consumers act on these trends, but also how often they act on this it provides unique insight into the “size of the prize” when targeting these consumer trends in each category covered.
Key Highlights
Brand analysis reveals that penetration of private labels in meal kits segment by volume is almost two-fifth of the meal kits market in China. Branded products hold more than two-third of both ready meals and pizza market.While the level of Private Label penetration varies by market, overall in each category these products have taken significant share away from Brands. In the future brands will need to work hard and target specific consumers and trends in order to stave off the threat of further share gains by these products.
Overall Ready Meals are the dominant category, accounting for over 60% of the market , with both Pizzas and Meal Kits having much smaller shares.Cumulative volume share of top three retailers of prepared meals in China, all International players, amounts to more than half of the total market. This indicates that these international players have medium–to-high bargaining power vis-a-vis other retailers in the organised retail market in the country for the prepared meals market.
In the organized retail sector there is significant consolidation of sales of Prepared Meals among the leader three players. Outside of this leading group however sales are much more fragmented.Switching analysis indicates that consumer loyalty stands low for prepared meals consumer in China as the top three organized retailers witnessed large number of end consumers switching to other organized retailers in the last six months in the country.
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