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.
Scope
Analysis of consumer behavior, economic conditions, and demography reveals emerging opportunities in the Prepared Meals sector.
Key growth categories are highlighted by analysing the market dynamics of three Prepared Meals categories.
Market shares are provided for the leading brands across Prepared Meals categories.
An overview of packaging trends in the UK’s Prepared Meals sector is provided, including primary packaging material and type, packaging closures, and outer packaging.
Reasons To Buy
It is interesting to see that Time Rich consumers, who have more than seven hours of leisure time per day, account for over one-third of Prepared Meals consumption by volume, which indicates cookery skills and habits are declining among UK consumers.
Increasing numbers of working women who have increasingly busy lives as they attempt to juggle work, home life, personal ambitions, and the desire to be close to friends and family. This is leading to the consumption of more ready-to-eat products and prepared meals.
Time pressed consumers, busy lifestyles, and a decline in cooking skills will help the Ready Meals category grow in the UK.
Marketers are exploring new products innovation targeted towards providing convenience, taste, and healthy ready-to-eat meals.
Time pressed consumers, busy lifestyles, and a decline in cooking skills will help the Ready Meals category grow in the UK.
Key Highlights
- Canadean Consumer data indicates over two-fifths of Prepared Meals consumption is driven by the affluent and better-off consumer groups.
- The country of origin of ingredients will play a crucial role in brands claiming to provide authentic regional tastes.
- The ethnic population is growing and so are instances of the experience seeking British population wanting to try global cuisine.
- The British government has forecast that within the next two decades, there will be a 50% increase in the number of people aged 65 and over.
Key Topics Covered in the Report:
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
ankur [@] kenresearch.com
+91-9015378249
