Sales of prepared meals reached $11.5 billion in 2019, placing the category 13% ahead of its 2014 sales performance and back on a positive path following years of unstable growth. Product innovation that tapped into contemporary food trends coupled with convenience and a diverse range of meal solutions, helped provide renewed participation in the category. The residual impact of COVID-19, stay-at-home orders and ensuing financial repercussions will have an impact on the category, in both directions, as well. Initial panic buying and stocking up gave a boost to frozen options, while refrigerated counterpoints that once gave boost to the category were for the short term flat. Big shifts in consumer shopping behavior and lifestyle will undoubtedly have a longer-term impact, as consumers seek convenience with a renewed appreciation for the role it plays in value.

Key issues covered in this Report

• The short, medium and longer term impact of COVID-19 on the category

• How brands can navigate a recession

• Key consumer groups for the market

• Opportunities to extend the core consumer base

For the purposes of this Report, prepared meals are defined as complete meals or entrées that are precooked and frozen or refrigerated. These meals usually include a side dish and require minimal preparation or cooking time.

Side dishes are defined in this Report as products intended to be used alongside an entrée or meal center. These items can be frozen or refrigerated. Please note that while the industry has a clear definition of side dishes, the demarcation is not so clear to the consumer, who may well use specific side dishes as a meal or a snack.

The primary segments include the following:

• Single-serve frozen meals

• Multi-serve frozen meals

• Refrigerated meals

• Frozen side dishes

• Refrigerated side dishes

Excluded from this Report are meals and side dishes prepared in-store and sold in the fresh deli or other departments. Also excluded are meals and side dishes sold through foodservice venues.