- Post-Recession finances & Employment – premium ready meals
- Ageing population – opportunity for growth (22% over 55 in 2012 to 26% in 2026)
- One person households on the rise (400,000 single person households)
- Innovation and Availability
- Scratch cooking on the rise
- Health Agenda impacting adversely
The Chilled Ready Meals market is valued at €48.6m and have grown at +3.6% year on year. Brands account for 21.5% spend in the category and declining. Interestingly Chilled Ready Meals are purchased for the main household member. They are not an everyday solution but meets the need for a mid week meal solution. Opportunities have been identified for brands within the Chilled Ready Meal Sector
The Chilled Soup Market is worth €30m and declining at -1.6% year on year. Brands accounts for 68.4% spend in the category but declining. These categories are purchased for the main household member & other adults. They are not an everyday solution but meets the need for a weekday lunch. Chilled soups are often bought on offers such as 3 for 2 during the main weekly shop, in order to stock up on a variety of flavours that suit all tastes. Chilled soups are preferred over tinned and powdered options as they are thought to be fresher, better quality, free of additives and made with natural, unprocessed ingredients.
UK Market: According to Kantar the Chilled Ready Meals are in strong growth in GB as demand for convenience accelerates. Shoppers are ready to pay more money if this translates into some form of time or hassle saving. Average price paid has gone up by £0.23/kg on average and now stands at £5.79. From a retailer perspective M&S dominates the market and holds over 25% of the market, however it faces continuous competition from the Discounters and Premium Branded players such as Charlie Bigham’s. In 2017 the Chilled Ready Meals market was worth £1733.5m (+6.8%). This growth is driven through higher average prices.