2014-04-01 12:21:02 - Market Focus: Trends and Developments in the Prepared Meals Sector in the US - a new market research report on companiesandmarkets.com
Product 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.
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