Opportunities in the Global Prepared Meals Sector 2024

Opportunities in the Global Prepared Meals Sector 2024

Summary

The global prepared meals sector was valued at $133 billion in 2023 and is forecast to record a compound annual growth rate (CAGR) of 6.4% during 2023-28, and reach $181.6 billion in 2028. The Americas represented the largest region in the sector in 2023, with a value share of 44%, followed by Western Europe with 27%. In 2023, ready meals was the largest category, accounting for 71.9% of overall global value sales, distantly followed by pizza and meal kits at 24.8% and 3.3%, respectively. The top five companies in the global prepared meals sector together accounted for a combined value share of 28.4% in 2023. The sector was led by Nestlé, which held a value share of 13.6%, followed by Conagra Brands with 5.7% and Nissin Foods Holdings with 4.2%. Hypermarkets & supermarkets was the leading distribution channel in the global prepared meals sector in 2023, with a value share of 67.5%, followed by convenience stores with 19.9%.

This report brings together multiple data sources to provide a comprehensive overview of the global prepared meals sector, analyzing data from 106 countries. It includes analysis on the following -

• Sector overview: Provides an overview of the current sector scenarios in terms of ingredients, manufacturer claims, labeling, and packaging. The analysis also provides a regional overview across five regions-Asia-Pacific, MEA (MEA), the Americas, Western Europe, and Eastern Europe-highlighting sector size, growth drivers, the latest developments, and future challenges for each region. This data includes both on-trade and off-trade data.
• Change in consumption: Provides an overview of consumption changes in the prepared meals sector over 2018-28 at global and regional levels.
• High-potential countries: Provides risk-reward analysis of the top high-potential countries in each region based on market assessment, economic development, governance indicators, sociodemographic factors, and technological infrastructure.

Scope

• Provides an overview of the current sector scenarios in terms of ingredients, manufacturer claims, labeling, and packaging. The analysis also provides a regional overview across five regions-Asia-Pacific, MEA (MEA), the Americas, Western Europe, and Eastern Europe-highlighting sector size, growth drivers, the latest developments, and future challenges for each region. This data includes both on-trade and off-trade data.

Reasons to Buy

• Manufacturers 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 prepared meals sector.
• 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.