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Growth Strategies in Ready Meals
Consumer drivers, new meal opportunities, innovation and format and flavor trends

Published March 2006
New Consumer Management Report

             Share of ready meals launched by type
                        2003 Vs 2005 (%)

                   2.8%                  13.2%

                          3.5%                2.3%




        Entree Mixes   Meals & Entrees, Pizza, Hot Snacks & Sandwiches         Meat, fish & poultry

         Pasta    Salads & Salad Kits       Soup         Vegetables & Vegetable Side Dishes

Source: Growth Strategies in Ready Meals

“The vegetables ready meals sub-sector grew from 13.2%
of all new product launches in 2003 to 15.8% in 2005, a
reflection of increasing consumer demand for healthier
meal options and the growing awareness of the benefits
that increasing daily portions of fruit and vegetables can
bring to long-term health...”

                 Increase sales of ready meals by understanding the market key drivers and
                             inhibitors and tailoring your product offering to meet changing
                                     consumer demands with this new management report...
Growth Strategies in Ready Meals
Consumer drivers, new meal opportunities, innovation and format and flavor trends

                                                                                                      Changing consumer lifestyles are driving the market for ready meals in
                             Innovation in ready meals by region (%)
                                                                                                      Europe and the US. Consumers are working longer hours, spending
                                                                                                      more time commuting and have a growing desire to maximize their

                           80%                                        Asia-Pacific
                                                                                                      increasingly limited leisure time.
 % of innovation by type

                                                                      North America
                           60%                                                                        Growth Strategies in Ready Meals: Consumer drivers, new meal

                                                                                                      opportunities, innovation and format and flavor trends is a new
                                                                                                      report published by Business Insights that analyses the key trends in the

                                                                                                      ready meals market and forecasts future growth and opportunities. The
                                 Formulation   Packaging   Merchandising   Positioning   Technology   report breaks down opportunities in the ready meals sector by region,
                                                                                                      food type and consumer to provide a unique insight into the factors
Source: Growth Strategies in Ready Meals
                                                                                                      shaping the market now and in the future.

 “North America led the way in terms of innovation in                                                 It examines key issues including the rise of ethnic cuisine and how ready
                            formulation. Between 2003 and 2005, of all the                            meals innovation and new product development are reflecting changes
innovative ready meals launched, 82% were innovative
                                                                                                      in consumer demand and behaviour.
                     in formulation. 77.2% of innovative ready meals in
 Asia-Pacific were innovative in formulation and 68.4%                                                This report will help ready meals manufacturers, distributors and
                                                     in Europe...”
                                                                                                      retailers anticipate future changes in the ready meals market and
                             Source: Growth Strategies in Ready Meals
                                                                                                      develop new products and strategies to secure market share.

Hot issues covered in the report...

                                                                                                      • The healthy consumer. Business Insights survey identified that 70%
                                 Stouffer's Lean Cuisine Frozen Panini
                                                                                                        of consumers claim that the unhealthy features of ready meals limit
                                                                                                        their consumption. Although there are now more healthy ready meals
                                                                                                        on the market, the negative perception remains.
                                                                                                      • The rise of ethnic foods. Travel is driving the demand for ethnic
                                                                                                        tastes and flavours. Consumers now find cultural diversity stimulating
                                                                                                        and interesting rather than threatening. Consumers returning from
                                                                                                        holiday often have a new appreciation for ethnic cuisine.
                                                                                                      • Consumer perception. The chilled ready meals market is the fastest
                                                                                                        growing sector of the ready meals market but it is private label that
Source: Company Information
                                                                                                        drives the market. Consumers may perceive private label products to
                                                                                                        be naturally made because the label suggests the meal has not been
                           “Many manufacturers have developed steamfresh
                           products to make microwaveable ready meals to
                                                                                                        put together by mass-production techniques.
appeal to health conscious consumers. However, Nestlé                                                 • Mealtime behaviour. Food consumption is increasingly fitting
have launched Stouffer's Lean Cuisine Frozen Panini in
                                                                                                        around people's needs and lifestyle, rather than people fitting their
             the US in January 2006, in packaging that grills the
                                                                                                        lives around structured mealtimes. The result is a displacement of
                                         sandwich in the microwave...”
                                                                                                        regular mealtimes by snacking occasions and consumers increasingly
                             Source: Growth Strategies in Ready Meals                                   value the opportunity to consume a quick and filling meal solution
                                                                                                        rather than a typical snack
This new report will provide you with...

                                                                                                  • Ready meals market sales data and forecasts to 2009 across
                          Time-saving products are important to
                             consumers in Europe and the US                                         8 European countries and the US detailing the size and growth of the
                               How important are time-saving products and services to you?
                                                                                                    canned, chilled, dried, frozen and ethnic food and drinks markets.
                                  Europe    US    Total             54% 52% 54%
                                                                                                  • New product development and innovation analysis of over 600
                                                                                                    product launches using Productscan data determine the fastest
 % of respondents


                                                                                          28%       growing sectors in ready meals and the key innovations in terms of
                    20%                                     16%                                     formulation, packaging, shelving type and product labelling.
                                                      13%         13%

                                                                                                  • In-depth primary research. The results of a survey of key industry
                                       4%        4%
                            1% 0% 1%        2%
                              Very     Unimportant      Neither         Important      Very         executives and also of Business Insights Global Consumer Survey
                           Unimportant                                              Unimportant
                                                       Response                                     across Europe and the US results providing exclusive insight into
Source: Business Insights Global Consumer Survey                                                    consumer behaviour, opinions and key drivers of ready meals
                    “As consumers have lost interest in cooking from
                                                                                                    purchase and consumption.
scratch the average UK mealtime preparation has gone                                              • Analysis of key consumer drivers and inhibitors for the ready
         from 2 hours in the 1970s and 1980s to 20 minutes
                                                                                                    meals market to 2009 detailing key trends in health, convenience,
                                                                                                    indulgence, culture, demographics and meal-time behaviour.
                     Source: Growth Strategies in Ready Meals
                                                                                                  • Actionable recommendations to enable you maximize ready meals
                                                                                                    sales by improving marketing and new product development.

Benefit from the expert insight and analysis enabling you to...

                          Extract: US ethnic food retail market                                   • Improve the effectiveness of your new product development
                              by cuisine1999-2009 (US$ m)                                           using this reports proprietary primary research of over 600 ready
                                                                                                    meals product launches.
                    Cuisine                           2004                2009      2004-2009     • Understand the key drivers and inhibitors of growth in the ready
                    Mexican                      17,612                 20,700      3.30%
                    Chinese                       4,517                  4,783      1.10%
                                                                                                    meals market including health, indulgence and ethnic foods by
                    Other Asian                   8,258                  9,148      2.10%           reading this report.
                    Kosher                        7,458                  9,973      6.00%
                    Other                         4,032                  5,138      5.00%
                                                                                                  • Increase sales through targeting your product offering by key
                    Total                        41,913                 49,703      3.50%
                                                                                                    demographics including geography, age, gender and behavior based
                                                                                                    on the analysis in this report.

Source: Business Insights Global Consumer Survey
                                                                                                  • Predict consumer demand over the next 5 years and identify future
                                                                                                    market opportunities in the ready meals market with this report’s
“The fastest-growing cuisine over the last five years has
                                                                                                    forecasts for ready meals sales by sub-sector to 2009 .
 been kosher, which grew to a $7.5bn market in 2004,
while sales of non-traditional cuisines (those other than                                         • Benchmark the performance of your ready meals by geography
  Mexican, Asian and kosher) have been increasing far                                               and sub-sector using the historic market data detailed in this report.
                                above general market growth...”

                     Source: Growth Strategies in Ready Meals
Key findings from the report...

    Extract: Product tags used on ready meals,                       • The ready meals market across Europe and the US has grown
               2005 versus 2004 (%)                                    steadily in recent years. In 2005, the market was worth $29.2bn.
                                                                       However, by 2009 it is expected to grow to the value of $32.6bn.
                                   2004    2005
          Product Tag               (%)     (%) Change               • Frozen ready meals hold the largest share of the ready meals
          Vegetarian                2.1     2.5   +                    market, accounting for 48% of ($13.6bn) of ready meals sales in
          No artificial colour      2.4     2.7   +
          Gourmet                   1.7     1.2    -                   Europe and the US in 2005.
          Low calories              1.6     1.4    -
          No artificial flavour     1.5     1.7   +                  • Ethnic foods now account for 11.8% of all US retail food sales
          Real                      1.3     1.3                        and this proportion is forecast to grow to 12.4% by 2009. The
                                                                       US ethnic food market is much larger than Europe's. In 2004, total
                                                                       sales were $4.9bn. Spain and Italy are expected to experience the
Source: Growth Strategies in Ready Meals
                                                                       most growth in ethnic food and drinks.
“Product tags that have increased in use between 2004
and 2005 include natural, low fat, organic, vegetarian,
                                                                     • Consumers increasing need for convenience is driving growth in
no artificial coloring, no artificial flavors and no genetic           the ready meals market despite negative health perceptions.
modification. This highlights the strong impact health is              Business Insights Global Consumer Survey discovered that 64% of
              having in innovation in ready meals...”                  consumers "have less leisure time than previously" and 76% have
                                                                       "a growing desire to make the most of my free time."
         Source: Growth Strategies in Ready Meals

Your questions answered...

                Men spend more than women                            • How should ready meals manufacturers market their products to
                     on prepared meals                                 reflect the changing demands of consumers?
                                               Male      Female      • What should ready meals new product development strategies focus
 Total               53%                        47%                    on?

   US                50%                       50%
                                                                     • What factors other than health influence consumer purchase
   EU                 56%                          44%
                                                                     • Which ready meals sub-sectors and regions will grow fastest in the
         0%        20%       40%        60%        80%        100%     future?
                      % of prepared meal market value
                                                                     • Why is ethnic cuisine growing so quickly?
Source: Business Insights Global Consumer Survey
                                                                     • How will lifestyle affect the growth of the ready meals market over
  “In 2004 men spent an average of €50 and €55 per
                                                                       the next few years?
   person on prepared meals in Europe and the US
 respectively, which is slightly higher than women who               • How does culture affect the purchase of ready meals?
                spent €38 and €55 respectively...”
                                                                     • Which is the most popular ethnic cuisine across Europe and the US?
         Source: Growth Strategies in Ready Meals
Sample information from the report

Chapter 2: The Disappearing Mealtime
 The workplace is becoming an increasingly important eating location

 Mealtime occasions are changing as working practices
 change. Consumers are working longer hours, which means                     Table 2.6: Change in workplace consumption occasions in
                                                                                      Europe and the US 2004 - 2009 (CAGR)
 that more and more mealtime and snacking occasions are
 occurring in the workplace. In Europe, the number of dinner
 occasions to take place at work is expected to have a growth               Occasion   Region     Breakfast   Lunch       Dinner
                                                                            Meals      Europe     0.8%        1.9%        2.8%
 rate of 2.8% over the next five years. However, meals that                            US         1.1%        1.9%        1.2%
 meet afternoon snacking and lunch requirements are strong
 growth areas for manufacturers.                                            Occasion   Region     Morning     Afternoon   Evening
                                                                            Snacks     Europe     1.5%        2.0%        0.4%
                                                                                       US         1.8%        2.2%        1.2%
 The traditional lunch hour is changing and this is driving the
 afternoon snacking and lunch occasions. 55% of Americans
 do things other than eat during their lunch hour, according
                                                                 Source: Growth Strategies in Ready Meals
 to the Steelcase Workplace Index Survey, a semi-annual
 survey that gauges workplace trends. Thus, desk dining and
 afternoon snacking are becoming increasingly popular substitutes for missed lunch occasions.

 The term lunch hour has become a dated expression in America as, on average, workers spend just 36 minutes at lunch
 and 14% of workers do not take any time for lunch in an average workweek. Thus, Americans are not making time to
 relax and eat during their lunch hour but are utilizing the time for other activities that they perceive to be more important.
 For example, of those who fall into the category of workers who do things other than eat during lunch, nearly 40% said
 they have exchanged that traditional lunch hour for some extra time to catch up on work.

 The workplace is becoming an increasingly important eating location

 In today's society, consumers' eating patterns are changing and the norm is no longer to consume three square meals a
 day. 80% of US and 71% of European marketers agreed with the statement, "consumers will increasingly seek foods that
 can be either filling snacks OR light meals in the future". Consumers' perception of meals and snacks is becoming blurred
 as the number of eating occasions per day increases.

 The growing interchangeability between meal and snack occasions is due to:

 •   Meal occasions are increasingly showing "snack-like" tendencies which means that consumers perceive them to be
     "light" meals;
 •   Consumers are eating more substantial and nutritious snacks between regular mealtimes to compensate for lighter or
     missed meals;
 •   Actual mealtime behaviors are increasingly showing snack-like tendencies.

Order this report today to find out more...
Table of Contents

 EXECUTIVE SUMMARY                                           - Differences across cultures
   • Ready meals: Definitions and market sizing              - Differences across ages
   • The disappearing mealtime                                 - Seniors are an attractive consumer group
   • Key trends in the ready meals market                      - Seniors dominate the chilled ready meals
   • The rise of ethnic foods and flavors                        market
   • Innovations in ready meals                              - Differences in gender
   • Conclusions                                           • Health
                                                             - The healthy eating attitude-behavior gap is
 CHAPTER 1: READY MEALS: DEFINITIONS AND                       closing
 MARKET SIZING                                               - Consumers are seeking more information on
   • Summary                                                   healthy eating
   • How to use this report                                  - The nutritional content of prepared meals
   • What is a ready meal?                                     influences purchase decisions
     - Definitions                                           - The effect of stress
       - Canned ready meals                                • Indulgence
       - Chilled ready meals                                 - Consumers are looking for new, cosmopolitan,
       - Dried ready meals                                     taste sensations
       - Frozen ready meals                                  - Consumers desire authenticity
       - Ethnic ready meals                                  - Customization
       - Innovation                                          - ‘Home-made’ meals
   • Market overview
     - Ready meals market sizing and analysis           CHAPTER 4: THE RISE OF ETHNIC FOODS AND
       - Canned ready meals market sizing               FLAVORS
       - Chilled ready meals market sizing                 • Summary
       - Dried ready meals market sizing                   • Introduction
       - Frozen ready meals market sizing                  • Market analysis
                                                             - US
 CHAPTER 2: THE DISAPPEARING MEALTIME                        - Europe
   • Summary                                               • Key trends
   • Introduction                                            - Foodservice coming into ready meals
   • Major trends in mealtime behavior                       - New and exciting flavors
     - Mealtime fragmentation                                - Premiumization
     - Decline of the family meal                            - The range of new flavors is increasing
     - Meals are eaten at the dining table less often        - Ethnic products tie in with consumer flavor trends
        - The workplace is becoming an increasingly          - Mainstream consumers pick up minorities’ tastes
          important eating location                               - Premium ready meals should adapt to
     - Consumers are moving away from 3 meals a day                 emerging foodservice trends
                                                                  - Promote ethnic products’ specific health
 CHAPTER 3: KEY TRENDS IN THE READY MEALS                           benefits
 MARKET                                                           - Emphasize ethnic ready meals’ natural
   • Summary                                                        qualities
   • Introduction                                                 - Create premium pre-packaged ingredients
   • Consumer attitudes towards ready meals                         and meal kits
   • Convenience
Table of Contents (Contd.)

 CHAPTER 4: THE RISE OF ETHNIC FOODS AND                       • Taste remains the key attraction for consumers
 FLAVORS (CONTD.)                                                - Focus on promoting a balanced diet
    • Key recommendations                                      • Develop trust
      - Marketing                                                - Demonstrate your commitment to healthy eating
        - Target minority consumers                                to evoke trust
        - Overlap of different ethnic groups                   • Educate consumers
        - Market to areas with high minority                   • Extend healthy brands into ready meals
          concentrations                                       • Develop ‘free from’ meals
        - Make regional campaigns more specific                • Develop functional meals
        - Adapt national marketing campaigns to specific         - Avoid adopting a “general wellness” position
          regions                                              • Combine the mega-trends
      - New product development                                • Provide information leaflets on product authenticity
        - Discover new cuisines among minority                 • Index
        - Lengthy time to mass market for ethnic food
          types                                             TABLES
        - Learn from foodservice trends                       • Market Value in Europe and US (US$m) 2004-2009
                                                                - All ready meals
 CHAPTER 5: INNOVATION IN READY MEALS                           - Canned ready meals
   • Summary                                                    - Chilled ready meals
   • Introduction                                               - Dried ready meals
     - Healthy ready meals                                      - Frozen ready meals
     - Continuing premiumization of ready meals               • Change in workplace consumption occasions in
   • Market context                                           Europe and the US (CAGR), 2004 - 2009
   • Leading types of ready meals                             • US ethnic food retail market, by cuisine (US$ m),
   • Leading product tags                                     1999-2009
     - Healthy ready meals                                    • Europe & US ethnic food retail market, by country
     - Low-fat ready meals                                    (US$ m), 1999-2009
     - Private label ready meals                              • Europe ethnic food retail market, by cuisine (US$ m),
   • Leading shelving types in ready meals                    1999-2009
   • Innovation in ready meals                                • Europe ethnic food retail market, by cuisine and
     - Innovation in formulation                              country
     - Innovation in packaging                                • Growth in prevalence of food flavor claims
   • Innovation by region                                     • Top 25 product tags used on ready meals, 2004
     - North America                                          versus 2005 (%)
     - Europe
     - Asia-Pacific

   • Summary
   • Introduction
   • Develop meals that can replace a impulse snacks
   • Flexibility of cooking options
     - Offer components of ready meals in different trays
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