Ready Meals : Market Research Report

Ready Meals

Published by: Key Note Publications Ltd

Published: May. 1, 2008 - 97 Pages

Executive Summary
1. Market Definition: MARKET SECTORS; ECONOMIC TRENDS; MARKET POSITION
2. Market Size
3. Industry Background: NUMBER OF COMPANIES; REGIONAL VARIATIONS IN THE MARKETPLACE; DISTRIBUTION; HOW ROBUST IS THE MARKET?; LEGISLATION; TRADE ASSOCIATIONS
4. Competitor Analysis: MARKET LEADERS
5. Brand Strategy: INTRODUCTION; BRAND ADVERTISING
6. Strengths, Weaknesses, Opportunities and Threats: STRENGTHS; WEAKNESSES; OPPORTUNITIES; THREATS
7. Buying Behaviour: CONSUMER PENETRATION
8. Current Issues: BRAND ACTIVITY
9. The Global Market: GLOBAL MARKETPLACE DEVELOPMENTS
10. Forecasts: INTRODUCTION; FUTURE TRENDS
11. Company Profiles: Bakkavör Foods Ltd; Birds Eye Ltd; Greencore Group PLC; Hj heinz Company Ltd; Kerry Foods Ltd; Northern Foods PLC
12. Company Financials
13. Further Sources: Associations; Publications; General Sources; Government Publications; Bisnode Sources

Abstract

This Key Note Market Report Plus examines the performance of the UK retail market for chilled and frozen ready meals. The value of the market rose by 11.4% between 2003 and 2007, from £1.87bn to £2.08bn.

Chilled ready meals account for the largest share of sales and have benefited from year-on-year growth since the mid-1990s. This has been driven by consumer demand for what are perceived to be `fresh' convenient meal options, as well as an ongoing programme of new product development (NPD). The development of a sophisticated brand offering on the part of retailers has also played an important role, as consumers have been able to choose from a range of labels at various prices — from premium to economy. Healthy-eating ranges offer consumers yet further choice.

The frozen ready meals sector has performed less successfully and has been declining in value since 2005, although it has gained from strong brand investment from the likes of Birds Eye and Findus. Promotional activity has centred on the integrity of freezing as a natural preservative. New brands, such as Eat Positive from Birds Eye, and Jean Christophe Novelli's range for Findus, have also been targeting higher price points in a bid to add value to the sector.

Premium and health qualities of products are the two major drivers in the market, and in the food sector as a whole. Both factors are particularly important for ready meals, as there is a price difference to be paid for convenience, while such processed foods are often regarded with suspicion when it comes to healthy eating. Premium brands are performing well, as consumers tend to associate them with better quality ingredients and recipes, while `better-for-you' options, such as reduced-fat and reduced-calorie dishes, are not supported by recipes with more positive health attributes.

The ready meals market is supplied by a range of companies. Many are producing for the retailer own-label market or under licence for other brands, while some are offering their own ranges. Market leaders include Greencore, Bakkavör, Birds Eye, Northern Foods and Foodvest.

Key Note forecasts that value sales in the ready meals market will continue to rise to 2012. In part, this will be driven by inflation, as the retail market absorbs the impact of higher production costs. However, the success of premium products and healthy-eating options will also add value to the market.

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Ready Meals

Table of Contents

Abstract