Market Research Logo

Opportunities in the North American Prepared Meals Sector: Analysis of Opportunities Offered by Countries in the Region

Opportunities in the North American Prepared Meals Sector: Analysis of Opportunities Offered by Countries in the Region

Summary

Global Prepared Meals sector was valued at US$83.4 Billion in 2016 and is forecasted to record a CAGR of 3.5% during 2016-2021 to reach US$99.1 Billion by 2021. Western Europe, with a value share of 39.5%, represents the largest regional market, while North America is the second largest market, accounting for a 27.7% share, and is forecasted to record a CAGR growth of 2.1% during 2016-2021. The growth and high contribution can be attributed to the US and Canada with factors including high disposable incomes and time-scarcity among the urban population resulting in increased consumer interest in purchasing Prepared Meals.

North America is the second largest Prepared Meals market in the world, accounting for US$23,088.2 Million in 2016, and is forecasted to grow at a CAGR of 2.1% to reach US$25,599.4 Million in 2021. Ready Meals is the largest market, accounting for US$15,621.5 Million (67.7% of the overall Prepared Meals sector) in 2016, and is expected to reach US$17,251.6 Million in 2021, growing at a CAGR 2.0%. At a country level, the US alone accounts for 84% of this market, followed by Canada and Mexico. This high demand for Ready Meals in North America is due to the fact that they require near zero preparation time and suit the ever increasing hectic lifestyles of consumers in these countries, especially the US and Canada. This is followed by Pizza and Meal Kits, which are forecast to witness a CAGR of 2.3% during 2016-2021.

In the North American Prepared Meals market, there is a huge disparity in terms of opportunities among the top countries: The US is the largest contributor in terms of market value as of 2016, while Mexico will witness the highest CAGR of 3.6% during 2016-2021, due to the growth over low base values. With an increasing middle-class population and growing time-scarcity among working individuals in Mexico, Prepared Meals will anticipate higher demand in the coming years. Moreover, the growing retail penetration in mid-sized cities and rural areas in Mexico is expected to further fuel this growth.

North American Health & Wellness market stood at US$5,142.7 Million (22.3% of the overall Prepared Meals market) in 2016. A large aging population (especially in the US) and rising awareness of diet-related issues such as obesity, diabetes, and cholesterol, among others (across demographics), is driving the growth of Health & Wellness products in North America. Rising economic standards drive consumers to choose better-for-health variants over regular/standard varieties, while growing concerns over the use of artificial ingredients is driving the demand for products that claim to be 'free from' and 'all natural'.

Hypermarkets & Supermarkets is the most popular distribution channel for Prepared Meals in the North American region, accounting for 74.8% of the overall sales, followed by Convenience Stores with a 14.7% share. This is due to the high penetration of large supermarket chains in the US and Canada and the fact that Hypermarkets & Supermarkets offer a large variety of products in terms of flavors, cuisines, and pack sizes. However, Convenience Stores account for 51.5% of overall sales in Mexico, as smaller retail formats are more prevalent in the country.

The report Opportunities in the North American Prepared Meals Sector: Analysis of Opportunities Offered by Countries in the Region, provide a comprehensive overview of the North American Prepared Meals sector.

In particular, this report provides the following analysis -

  • Sector overview: Provides overview of the sector size, value and volume growth analysis, across regions
  • Change in consumption: Analysis on the shift in consumption of Prepared Meals by markets across countries in the North America region.
  • Health & Wellness analysis: Provides insights on the Health & Wellness products in terms of value and percentage share in the overall Prepared Meals sector during 2011-2021. The analysis includes key Health & Wellness attributes and consumer benefits driving the sales of Prepared Meals in 2016. It also covers the market share of leading companies offering Prepared Meals with health and wellness attributes in the same year.
  • Country analysis: Provides deep-dive analysis of the countries in the region covering value growth during 2016-2021, key challenges, consumer demographics, and key trends supported with product examples. It also includes analysis of the key challenges faced and future outlook for the region.
  • Brand Analysis: Provides an overview of leading brands in North America, besides analyzing the growth of private labels in the region.
  • Key distribution channels: Provides analysis on the leading distribution channels in the global Prepared Meals sector in 2016. It covers five distribution channels - Hypermarkets & Supermarkets, Convenience Stores, Food & Drinks Specialists, Department Stores and Others that include - Cash & Carries and Warehouse Clubs, ‘Dollar Stores’, e-Retailers, and General retailers.
  • Preferred packaging formats: The report provides percentage share (in 2016) and growth analysis (during 2011-2021) for various packaging materials, container, closure, and outer types based on the volume sales (by pack units) of Prepared Meals.
Companies mentioned in this report: Unilever, Schwan's Consumer Brands, Pinnacle Foods, Nestle, Mondelez, HJ Heinz, General Mills, Conagra Foods, Bellisio Foods, Amy's Kitchen.

Scope

This report brings together multiple data sources to provide a comprehensive overview of the North American Prepared Meals sector. It includes analysis on the following -
  • Sector overview: Provides overview of the sector size, value and volume growth analysis, across regions
  • Change in consumption: Analysis on the shift in consumption of Prepared Meals by markets across countries in the North America region.
  • Health & Wellness analysis: Provides insights on the Health & Wellness products in terms of value and percentage share in the overall Prepared Meals sector during 2011-2021. The analysis includes key Health & Wellness attributes and consumer benefits driving the sales of Prepared Meals in 2016. It also covers the market share of leading companies offering Prepared Meals with health and wellness attributes in the same year.
  • Country analysis: Provides deep-dive analysis of the countries in the region covering value growth during 2016-2021, key challenges, consumer demographics, and key trends supported with product examples. It also includes analysis of the key challenges faced and future outlook for the region.
  • Brand Analysis: Provides an overview of leading brands in North America, besides analyzing the growth of private labels in the region.
  • Key distribution channels: Provides analysis on the leading distribution channels in the global Prepared Meals sector in 2016. It covers five distribution channels - Hypermarkets & Supermarkets, Convenience Stores, Food & Drinks Specialists, Department Stores and Others that include - Cash & Carries and Warehouse Clubs, ‘Dollar Stores’, e-Retailers, and General retailers.
  • Preferred packaging formats: The report provides percentage share (in 2016) and growth analysis (during 2011-2021) for various packaging materials, container, closure, and outer types based on the volume sales (by pack units) of Prepared Meals.
Reasons to buy
  • Manufacturing and retailers seek latest information on how the market is evolving to formulate their sales and marketing strategies. There is also demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities of growth within the sector in the APAC region.
  • The report provides a detailed analysis of the countries in the region, covering the key challenges, competitive landscape and demographic analysis , that can help companies gain insight into the country specific nuances
  • The analysts have also placed a significant emphasis on the key trends that drive consumer choice and the future opportunities that can be explored in the region, than can help companies in revenue expansion
  • To gain competitive intelligence about leading brands in the sector in the region with information about their market share and growth rates


1. Executive summary
2. Market size and growth analysis (Region analysis)
Market Size in Context - North America compared to other regions
Growth analysis by region
Growth Analysis by country
3. Growth potential by countries in North America
Risk and reward analysis - Methodology
Risk and reward analysis - Opportunity scores
4. Market size and growth analysis
Overview - Value and volume growth analysis by country
Growth Contribution Analysis by Country
Share of Prepared Meals compared to other Food sectors
Change in consumption levels by country and markets
Per Capita Consumption and Expenditure analysis
5. Country profiles
US
Canada
Mexico
6. Success stories
7. Company and brand analysis
Brand Share analysis in the Prepared Meals sector
Leading companies in the North American Prepared Meals sector
Leading brands in the North American Prepared Meals sector
Private Label penetration in the Prepared Meals sector
8. Health & Wellness analysis
Health & Wellness analysis - Overview
Health & Wellness analysis - Growth contribution by country
Health & Wellness analysis - Key product attributes and consumer benefits
Leading Health & Wellness companies by market share
9. Key Distribution Channels
Leading Distribution Channels by countries
Leading Distribution Channels by categories
10. Key Packaging Formats
Growth analysis by key packaging material and container type
Growth analysis by closure type and outer type
11. Challenges and Future Outlook
Key challenges
Future outlook
12. Appendix
13. Trends Definitions
List of Tables
Regional comparison: Market size, growth, and per capita analysis, 2016-2021
Risk and reward analysis - Opportunity scores
Overview - Value and volume growth analysis by country
Value share of Prepared Meals sector as a proportion of overall food by country, 2016
Change in % consumption levels in value terms, 2016-2021
Per Capita Consumption, 2016
Per Capita Expenditure, 2016
US Prepared Meals - Overview, % value share by market, 2016
Canada Prepared Meals - Overview % value share by market, 2016
Mexico Prepared Meals - Overview % value share by market, 2016
Brand share analysis - Prepared Meals sector
Private Label penetration in the Prepared Meals sector
Health & Wellness value and its share in overall sales, 2011-2021
Share of product attributes and consumer benefits by country in North America, 2016
Leading Health & Wellness companies with market share by Prepared Meals markets (2016)
Leading Distribution Channels in the North America region by countries, 2016
Leading Distribution Channels in the North America region by categories, 2016
List of Figures
Year-on-year value growth analysis by region (2016-2021)
Year-on-year volume growth analysis by region (2016-2021)
Value and volume growth analysis by country (2016-2021)
Country level contribution to the growth of Seasonings, Dressings & Sauces markets in Western Europe, 2016-2021
Belgium - Demographic Analysis
Austria- Demographic Analysis
the Netherlands - Demographic Analysis
Spain - Demographic Analysis
Country level contribution to the growth of H&W Market in Western Europe, 2016-2021
Key Packaging Material volume (units) share, 2016
Unit volume growth by packaging material (2011-2021)
Key Container Type volume (units) share, 2016
Unit volume growth by container type (2011-2021)
Key closure type volume (units) share, 2016
Unit volume growth by closure type (2011-2021)
Key outers volume (units) share, 2016
Unit volume growth by outers (2011-2021)

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report