Published on : Jun 14, 2017
Albany, New York, June 14, 2017: The future of the prepared meals market in the U.S. to 2021, is the result of an extensive market research study broadcasted to the Market Research Hub (MRH) online repository, which is titled as “U.S. Prepared Meals - May 2017”. The report presents detailed analysis on the Prepared Meals consumption trends in the US, historic and forecasts Prepared Meals consumption volume and value at market and category level, brand share, and distribution channel data. Additionally, the report analyzes the sector’s status well updated in May 2017 and offers detailed study on consumer attitudes towards prepared meals for the U.K. region. Also, various drivers that affect market growth are evaluated in this report, which highlights positive signs in the coming years.
Prepared meal delivery companies are already gaining interest as an alternative to after work grocery shopping, eating out at restaurants, and buying fast foods in an effort to feed itself and for families during the most hectic days of the week. Prepared meals are defined as complete meals or starters that are precooked and frozen or refrigerated. These meals usually include a side dish and require minimal preparation or cooking time. The research finds that dinner is the most commonly used meal, but snacks could be a growth opportunity for the marketers.
Initially, the report starts with an executive summary for the market and analyzes that the prepared meals category reversed its downward course in 2015 and 2016 with small increases that nearly rubbed out declines in the three previous years. Total sales of $10.5 billion in 2016 are up about 3% from a low point in 2014 but still below their 2011 level by about 1%. Further, the report analyzes the primary segments gaining momentum in the market, which include Single-serve frozen meals, Multiserve Frozen meals, Frozen side dishes, Refrigerated meals and Refrigerated side dishes. As per the findings, the modest reversal of fortune for the category reflects stabilization in single-serve and multiserve frozen meals, which together account for 71% of category sales, and continued growth in both refrigerated and frozen side dishes.
Moreover, the research finds that greater cuisine variety and packaging geared to snacking occasions could help to boost consumption, especially among young adults. Young adults, men 18 to 34 especially, is a key market for the category which has high purchasing interests and taste and snacking has become important motivations for young adults. Consumers more likely to report cutting back than increasing purchase.
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Key players analysis is also presented in brief which presents company sales of prepared meal, key strategies, opportunities and innovations. As per the findings, Nestlé strengthens its position as top competitor in category, Pinnacle Foods generates solid gains and Kraft Heinz launches new brands.
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