Convenient packaging such as packs that can be readily microwaved and then used as a serving dish a major trend in prepared meals in US, according to report
January 27, 2014
– Reportlinker.com announces that a new market research report is available in its catalogue:
Market Focus: Trends and Developments in the Prepared Meals Sector in the US
This report provides a concise overview of the Prepared Meals market in the US. After reading this report, you will understand the size of the market, the economic, demographic, and behavioral trends that will drive its evolution and the leading players within the market, allowing you to plan effectively for the future.
Introduction and Landscape
Why was the report written?
This overview of the consumer and market dynamics of the US 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 in the US is one of the largest in the world and per capita consumption is also high. Meanwhile, the increasing number of single-person households, increased affluence, and busy lives has created demand for single-serving Prepared Meal packages, or those that can be resealed for future use.
What are the key drivers behind recent market changes?
Increased per capita income in the US, apart from a drop in 2009, resulted in consumers demanding more time saving and convenient food items, among which Prepared Meals figures prominently.
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 US Prepared Meals sector. This allows for the rapid identification of key growth opportunities across three Prepared Meals categories and their packaging.
Key Features and Benefits
Analysis of consumer behavior, economic conditions, and demography reveals emerging opportunities in the Prepared Meals sector in the US.
Key growth categories are highlighted by analyzing the market dynamics of three Prepared Meals categories: Meal Kits, Pizza, and Ready Meals.
Market shares are provided for the leading brands across the Meal Kits, Pizza, and Ready Meals categories.
An overview of packaging trends in the US Prepared Meals sector is provided, including primary packaging material and type, packaging closures, and outer packaging.
Key future trends are highlighted and analyzed in order to identify opportunities and threats in the Prepared Meals sector.
Key Market Issues
Food & Grocery sales in the US will increase across all channels; however, the majority of this growth will occur in modern retail chains as they expand beyond core urban centers and into smaller towns. Hypermarkets & Supermarkets dominate sales of Prepared Meals market in the US.
Convenience is of growing importance in US food culture, as consumers look for quick and easy options as a result of busy lifestyles, the increase in the number of single parent households, and the rise in the number of working women. With the improved economic condition there is increased competition between Prepared Meals and the Foodservices sector.
Both male and female markets are focused on Affluent and Time Rich consumer segments. In addition, consumer analysis based on Wealth Group reveals that the Hard Pressed consumer group has a large consumption share, indicating an opportunity for inexpensive ranges of Prepared Meals.
Prepared Meals manufacturers should focus their strategies towards Tweens & Early Teens, and Older consumers. Marketers should aim to support this group with suitable products.
Consumer confidence has been hit beyond the economic recession during 2007-2009. Even though the economy has returned to a growth path, consumer confidence still remains weak. This will create opportunities for private labels, even though they currently have a low penetration in the Prepared Meals sector.
Sales of private label Prepared Meals products have increased consistently in the US based on successful partnerships between big suppliers and major retailers.
Increased health concerns, especially obesity, haveled some American consumers to want to cut down their calorie consumption.
Convenient packaging is a major trend in Prepared Meals, such as packs that can be readily microwaved and then used as a serving dish.
- Growing proportion of affluent Millennial population will drive demand for consumer goods in the US
- High concentration in Food and Grocery retail sales in national chains
- Hypermarkets and Supermarkets dominate sales of Prepared Meals market in the US
- Improved economic conditions to drive Foodservices market in the US
- Older population is driving the consumption of Prepared Meals in US.
- Prepared Meals manufacturers should focus their strategies towards Tweens and Early Teens, and Older consumers
- Busy Lives is the key trend that influences the American Prepared Meals consumers
- Purchase of Prepared Meals in the US is largely influenced by Personal Space and Time and Changing Lifestages
- Prepared Meals market to pick up growth after the recessionary phase
- Ready Meals and Pizza to drive growth in Prepared Meals market in the US
- Growth in Prepared Meals market in the US will be at par with matured market levels
- Ready Meals category will continue to be the leading category in Prepared Meals market
Brands and Private Labels
- Large suppliers driving growth of Private Label products in the Prepared Meals market
- Private labels recorded higher growth than major brands
- Key brands by category
- Rigid Plastics is the most preferred form of packing material in Prepared Meals market giving convenience to customer
- Growing trend towards single-serve packaging of Prepared Meals
Future Outlook- four key trends in The US's Prepared Meals sector
- Authentic" Prepared Meals are more popular
- Consumers are looking for increased freshness and premium products
- Smaller meal size and low calorie packs more in demand
- Packaging innovation for convenience and indulgence
Data Appendix and Summary Methodology
To order this report: Market Focus: Trends and Developments in the Prepared Meals Sector in the US