The global Prepared Meals market registered a negative growth rate at a CAGR of -1.1% during 2010-2015 to reach US$80.4 billion in 2015. All the regions witnessed fall in value terms except North America, which registered a moderate growth of 1.4% (CAGR) during the same period. However, rising urbanization levels, changing eating patterns and increasing feeling of time scarcity will boost the demand for convenient and ready to eat Prepared Meals, and is forecast to grow at a CAGR of 3.3% in value terms during 2015-2020. Western Europe will remain the largest region, accounting for 41.2% value share in 2020 while APAC is projected to be the fastest growing at a CAGR of 6.3% (value terms) during 2015-2020.
Key Companies mentioned in the report are Nestlé, Kraft Foods Group Inc., Amy’s Kitchen, Marumiya, DiGiorno, Stouffer’s, Nichirei, Fry’s Family Foods, Tiger Foods Limited, McCain Foods Limited, Pakco (Pty) Ltd, Lean Cuisine, Hortex Holding S.A., Kachestvennye Produkty ZAO, Mareven Food Central, BRF S.A., Perdigão, Seara Alimentos, FROSTA AG, Dr. Oetker, Continental Foods Germany GmbH, Nomad Foods Europe Ltd. .
Key Findings
– Global Prepared Meals market: Increasing urbanization levels and busier lifestyles fuel growth for convenient and time saving Prepared Meals
– Drivers for a shift in consumption patterns: Increasing demand for convenient and quick meal options will drive consumption levels globally
– Latin America: Value share of Prepared Meals as a proportion of overall food is set to increase by 2020 due to expanding middle income population
– In the Asia-Pacific, Japan and China are the leading markets for Prepared Meals in value terms
– Eastern Europe is a highly fragmented market with top four brands accounting only for 14.9% of the market share
– Hypermarkets and Supermarkets is the leading distribution channel in the global Prepared Meals market
– Film is the most commonly used closure type in the global Prepared Meals market
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Synopsis
GlobalData’s Consumer and Market Insights report on the Global Prepared Meals market provides insights on high growth categories to target, trends in the usage of packaging materials, types and closures category level distribution data and brands market shares.
The global Meat market recorded a -1.3% CAGR in value terms during 2010-2015, due to falling sales in most of the regions. Latin America and Eastern Europe regions were the largest hit due to high inflation and economic uncertainty in these regions. However, projected recovery in the economic condition coupled with rising consumption of Meat worldwide is expected to boost the global sales at a CAGR of 1.8% during 2015-2020. Asia-Pacific accounts for the largest market worldwide, with a value share of 30.9% in 2015, followed by North America with a share of 26.9%. Asia-Pacific also represents the fastest growing market for Meat products with a CAGR of 3.1% during 2010-2015 driven by growing population and rising middle income consumers in the region.
Key companies listed in the report are Henan Shuanghui Investment and Development Company, WH Group Ltd., Hormel Foods Corporation, Butterball, Brasil Foods, Itoham Foods Inc., by Inner Mongolia Prairie Xingfa Food Co., Ltd, NH Foods Ltd., Duox, Faragalla Group, Aytab, Al-Watania Poultry, Tyson Foods, Inc., Seara Group, Aurora Alimentos Ltda., JBS S.A., Yasar Holding.
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Key Findings
– Rising global population set to boost Meat consumption worldwide
– Stricter regulations and rising health concerns represent key challenges
– In Asia-Pacific, China and Australia are the high potential markets for Meat products
– The global Meat market is highly fragmented with the top five brands holding less than 8% of the combined market share
– Chilled Raw Packaged Meat – Whole Cuts and Fresh Meat (Counter) categories have the highest market share for private label products in the global Meat market
– Hypermarkets and Supermarkets is the leading distribution channel in the global Meat market
– Film is the most commonly used packaging closure type in the global Meat market
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