What you need to know
The ready meal market is estimated to have seen a huge increase in value of 12.3% in 2019 due to steady growth in the frozen ready meal market and the solid performance of the chilled ready meal market. The frozen ready meal market has been mainly driven by product upgrading and premiumisation, and stimulus from the foodservice sector. The chilled ready meal market has been primarily impacted by C-stores’ strategies and activities on their chilled ready meal businesses.
Mintel’s research shows that only about half of the surveyed consumers have bought ambient ready meals, and this type of meal is suitable for most eating occasions, especially during breakfast and between meals. In terms of frozen ready meals, most consumers have bought frozen dumplings, and the majority of ready meal buyers would like to see premium varieties in this subcategory. In the frozen meat meal segment, an interesting finding is that the proportion of ready meal buyers who are willing to pay more for premium frozen meat meals is double that of current frozen meat meal buyers. This could imply that premium versions in this subcategory would reach more new buyers. In the chilled ready meals and freeze-dried meals, there are indications that convenience and nutritious are the future trends.
Covered in this report
This Report looks at consumers’ purchase and consumption habits of ready meals, their general attitudes towards and expectations of ready meals, and their attitudes towards future trends.
Ready meals include frozen, chilled, and ambient meals that require easy preparation. Frozen ready meals include frozen dumplings/wontons, frozen tangyuan (rice dumpling), frozen buns/dim sum, frozen meat meal set, frozen pizza/pasta, and so forth. Chilled ready meals include ready-made lunchboxes/dishes that only need simple heating, sandwiches, sushi/rice balls, salad, etc. Ambient ready meals include cooked foods (eg deli, Oden) or ambient packaged meals (eg canned mixed congee).
Market value is based on spending on frozen and chilled ready meals; market volume is based on tonnes of consumption.
