Table of Contents
Executive Summary
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- The market
- Sustained robust growth in the overall market
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- Figure 1: Sales value of ready meal market, China, 2015-20
- Frozen ready meals experience accelerated growth in both value and volume
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- Figure 2: Forecast for sales value of frozen ready meal market, china, 2015- 25
- Short-term disruption in chilled ready meals
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- Figure 3: Forecast for sales value of chilled ready meal market, china, 2015- 25
- Impact of COVID-19 on ready meals
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- Figure 4: Short, medium and long term impact of COVID-19 on ready meals
- The new norm of cooking at home results in increasing demand
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- Figure 5: New habits – Cook at home, March to July, 2020
- Sustained usage of online channels will accelerate move online
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- Figure 6: Shopping channel, March to July, 2020
- Companies and brands
- New retail channels may change the competitive landscape
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- Figure 7: Leading companies in frozen and chilled ready meals, by value share, 2018-19
- Differentiation strategy based on focusing on freshness
- Use selling points beyond convenience to bring excitement
- The consumer
- Ready-to-eat and ready-to-cook foods gain more heavy users among younger generations
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- Figure 8: Consumption frequency, China, May 2020
- New retail and delivery channels have an advantage
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- Figure 9: Purchase channel, China, May 2020
- Working at home suggests opportunities for ready-to-cook foods
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- Figure 10: Consumption occasion, China, May 2020
- Broader understanding of ready meals
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- Figure 11: Brand preference, China, May 2020
- Ready-to-eat foods stand out for extensive cuisine and flavour options
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- Figure 12: Associated attributes, China, May 2020
- Transparent product information could seduce consumers
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- Figure 13: Attitudes towards ready meals, China, May 2020
- What we think
Issues and Insights
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- Customize products for the expanded cooking population
- The facts
- The implications
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- Figure 14: New habits – Cook at home, March to July, 2020
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- Figure 15: Product examples of frozen ready meals with for children (5-12) claim, Korea, Ireland and Indonesia, 2020
- Leverage new retail and delivery channels to provide most convenience
- The facts
- The implications
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- Figure 16: Shopping channel, March to July, 2020
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- Figure 17: Hema Gongfang’s ready-to-cook foods
- Expand regional flavour and cuisine options
- The facts
- The implications
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- Figure 18: Guangzhou Restaurant Cantonese dim sum set
- Figure 19: Product examples of chilled ready meals with exotic flavours, China, 2020
The Market – What You Need to Know
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- Rising demand for in-home food boosts growth in frozen ready meals
- Chilled ready meals experienced short-term disruption due to COVID-19
- Foodservice floods into retail market by offering ready-to-cook products
Market Size, Segmentation and Forecast
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- Robust growth help frozen ready meals gain greater share
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- Figure 20: Sales value of ready meal market, China, 2015-20
- Figure 21: Segment value share in ready meals, CHINA, 2015-20
- Growth of frozen ready meals accelerates in both value and volume
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- Figure 22: Forecast for sales value of frozen ready meal market, china, 2015- 25
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- Figure 23: Sales volume of frozen ready meal market, China, 2015-20
- Chilled ready meals are expected to return to growth in the post-outbreak period
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- Figure 24: Forecast for sales value of chilled ready meal market, china, 2015- 25
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- Figure 25: Sales volume of chilled ready meal market, China, 2015-20
Market Drivers
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- Ready meals benefit from growing spending on in-home foods following the COVID-19 outbreak
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- Figure 26: Change in spending on in-home food, March to July, 2020
- Foodservice uses ready-to-cook foods to enter retail
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- Figure 27: Xibei sour soup oat noodles (frozen prepared food)
- Standardisation in production brings in more product varieties
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- Figure 28: Xinliangji frozen crawfish
Key Players – What You Need to Know
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- Strengthened cooperation with new retail channels
- Retailers have upgraded strategies on private-label products
- Create selling points beyond convenience to differentiate
Market Share
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- Relative stable market structure of leading players
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- Figure 29: Leading companies in frozen and chilled ready meals, by value share, 2018-19
Competitive Strategies
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- Use freshness to differentiate
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- Figure 30: Babi Food frozen ready meal set
- Utilize crossovers to attract young consumers
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- Figure 31: Ramen Talk & Wufangzhai dragon boat festival gift box
- Upgraded 3R strategy
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- Figure 32: Hema Gongfang national food map
Who’s Innovating?
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- Innovation trends overview
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- Figure 33: New launches in ready meal market, by claim category, China, 2018-20H1
- Figure 34: New launches in ready meal market, by leading claims, China, 2018-20H1
- Limited edition using seasonal ingredients
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- Figure 35: Chuange seasonal dumplings summer gift box
- Plant-based meat ready meals
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- Figure 36: Wanchai Ferry Omnipork dumpling
- Figure 37: Heytea plant-based beef zongzi
The Consumer – What You Need to Know
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- Chinese-style frozen ready meals enjoy high consumption frequency
- New retail and delivery channels become notable
- Ready-to-cook foods are most consumed at weekday dinner
Consumption Frequency
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- High penetration of Chinese-style frozen ready meals
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- Figure 38: Consumption frequency – frozen ready meals, China, May 2020
- Western-style frozen ready meals attract families with kids
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- Figure 39: Consumption frequency – Western-style frozen ready meals, by family structure, China, May 2020
- Ready-to-eat and ready-to-cook foods provide a solution to demand among younger generation for cooking
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- Figure 40: Consumption frequency – select items, China, May 2020
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- Figure 41: Consumption frequency, by age, China, May 2020
- Provide more exotic cuisine options in chilled ready meals
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- Figure 42: Consumption frequency – at least 2-3 times a month, by gender and age, China, May 2020
Purchase Channel
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- Storage requirements heavily determine shopping channel choice
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- Figure 43: Purchase channel, China, May 2020
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- Figure 44: Purchase channel – O2O retailers, by gender, age and monthly personal income, China, May 2020
- Home delivery services experience increased usage frequency
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- Figure 45: Purchase channel – select items, by age, China, May 2020
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- Figure 46: Repertoire analysis of purchase channel, China, May 2020
- Convenience stores’ chilled and ready-to-eat options help attract younger generations
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- Figure 47: Purchase channel – Convenience stores, by age, China, May 2020
Consumption Occasion
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- Working at home boosts the demand for ready-to-cook foods at weekday occasions
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- Figure 48: Consumption occasion, China, May 2020
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- Figure 49: Consumption occasion – ready-to-cook foods/semi-finished products, by city tier, China, May 2020
- Ambient packaged staple foods are most consumed during weekday breakfast
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- Figure 50: Consumption occasion – frozen ready meals, by family structure, China, May 2020
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- Figure 51: Consumption occasion – ambient packaged staple foods, China, May 2020
- Chilled ready meals: weekday lunch solution
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- Figure 52: Consumption occasion – chilled ready meals, China, May 2020
Brand Preference
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- Sanquan shows more advantage in tier three or lower cities
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- Figure 53: Brand preference, China, May 2020
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- Figure 54: Brand preference, by city tier, China, May 2020
- Figure 55: Brand preference, by region, China, May 2020
- Broader sense of ready meals
Associated Attributes
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- Ready-to-eat foods are more associated with extensive flavour and cuisine options
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- Figure 56: Associated attributes, China, May 2020
- Provide multiple serving sizes to satisfy various demand
- Frozen and chilled ready meals should highlight their nutritional content
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- Figure 57: Priorities in life – eating healthily, May to July, 2020
Attitudes towards Ready Meals
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- Concern about freshness brings opportunities for freshly-made products
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- Figure 58: Attitudes towards ready meals, China, May 2020
- Provide transparent information on ingredients to alleviate consumer concern about products
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- Figure 59: Attitudes towards ready meals – I can't trust what's in ready meals, by age, China, May 2020
Meet the Mintropolitans
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- MinTs are seeking various convenient meal options
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- Figure 60: Consumption frequency – have eaten in the last 6 months, by consumer classification, China, May 2020
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- Figure 61: Consumption frequency – once a week or more, by consumer classification, China, May 2020
- Online and new retail channels see increased usage
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- Figure 62: Purchase channel, by consumer classification, China, May 2020
Appendix – Market Size, Segmentation and Forecast
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- Total frozen and chilled ready meal market
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- Figure 63: Sales value of ready meal market, China, 2015-20
- Frozen ready meal market
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- Figure 64: Forecast for sales value of frozen ready meal market, china, 2015- 25
- Figure 65: Sales volume of frozen ready meal market, China, 2015-20
- Chilled ready meal market
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- Figure 66: Forecast for sales value of chilled ready meal market, china, 2015- 25
- Figure 67: Sales volume of chilled ready meal market, China, 2015-20
Appendix – Methodology and Abbreviations
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- Methodology
- Abbreviations
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