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Ready Meals - China - July 2019

OVERVIEW
What you need to know
Covered in this report
EXECUTIVE SUMMARY
The market
A steady growth in ready meal market
Figure 1: Best- and worst-case forecast for sales value of ready meal market, China, 2014-24
Volume growth in the chilled faster than in the frozen ready meal market
Figure 2: Best- and worst-case forecast for sales volume of ready meal market, China, 2014-24
Stimulus from foodservice business
Demand for product upgrade and premiumisation
Innovative retail channels expand ready meal availability
Freeze-drying technology spurs further market growth
Companies and brands
Sanquan lost market share
Synear and Wanchai Ferry gained market share
Expanding business through new retail channels
Developing a supply chain to control cost
Vegetable oils latest trend
The consumer
Demand for upgrading traditional frozen ready meals
Figure 3: Foods purchased, China, April 2019
Enhance frozen ready meals’ family sharing image
Figure 4: Consumption occasions, China, April 2019
Trade up potential in frozen dumplings and meat meal sets
Figure 5: Trading up potential, China, April 2019
Nutrition labels and familiar flavours make breakfast ready meals more appealing
Figure 6: General attitude/habit, China, April 2019
Intrinsic factors are more essential when boosting health value
Figure 7: Factors associated with health value, China, April 2019
Reasons for different penetration rates of ready meals/snacks
Figure 8: Consumption of and interest in ready meals and snacks, China, April 2019
What we think
ISSUES AND INSIGHTS
Develop premium frozen ready meals for breakfast occasion
The facts
The implications
Figure 9: Buns with imported, nutritious ingredients, by Synear, China, 2019
Enhance the performance of chilled ready meals in the lunch occasion
The facts
The implications
Freeze-dried products provide convenience with maximum level of nutrition
The facts
The implications
Figure 10: Freeze-dried noodle, by Jin Mai Lang, China
Figure 11: Bird nest and tremella thick soup, by Zao Can Li, China
THE MARKET – WHAT YOU NEED TO KNOW
Frozen ready meal market is growing steadily
Solid performance in chilled ready meal market
A promising market for ambient ready meals
MARKET SIZE AND FORECAST
Frozen dominates while chilled grows steadily
Figure 12: Changing proportion of frozen and chilled ready meals in value, China, 2014-19
Figure 13: Best- and worst-case forecast for sales value of ready meal market, China, 2014-24
Sales volume easing
Figure 14: Best- and worst-case forecast for sales volume of ready meal market, China, 2014-24
MARKET FACTORS
Foodservice businesses enter the ready meal market
Increasing health consciousness motivates premiumisation
Innovative retail channels expand the availability of ready meals
Technology like freeze-drying helps further growth
MARKET SEGMENTATION 
Steady value growth in frozen ready meal market
Figure 15: Best- and worst-case forecast for sales value of frozen ready meal market, China, 2014-24
Slowing volume growth in frozen ready meal market
Figure 16: Best- and worst-case forecast for sales volume of frozen ready meal market, China, 2014-24
Chilled ready meal market enjoys double-digit value growth
Figure 17: Best- and worst-case forecast for sales value of chilled ready meal market, China, 2014-24
Chilled ready meals see giant increase in volume
Figure 18: Best- and worst-case forecast for sales volume of chilled ready meal market, China, 2014-24
Ambient ready meals are essential part of ready meal market
KEY PLAYERS – WHAT YOU NEED TO KNOW
Sanquan dumplings were struggling
Synear won market share thanks to high consumer satisfaction
Wanchai Ferry gained share thanks to younger consumer market
MARKET SHARE
Sanquan’s core business faced bottleneck
Figure 19: Leading companies in frozen and chilled ready meals, by value share 2017-18
Synear garnered high consumer satisfaction
Wanchai Ferry expended the younger consumer market
COMPETITIVE STRATEGIES
Utilise new sales channels to expand
Focus on developing supply chain
Enhance products’ health value
Figure 20: Vegetarian dumpling, by Sanquan, China
Figure 21: Red bean and Job’s tears porridge, by Wu Fang Zhai, China
WHO’S INNOVATING?
Trend of using healthy vegetable oil
Figure 22: Trends in ingredient claims in the ready meal market, China, Jan 2018-Jun 2019
Greater focus on the younger consumer market
Figure 23: Trends in claims in ready meal market, China, Jan 2018-Jun 2019
THE CONSUMER – WHAT YOU NEED TO KNOW
More women prefer exotic ready meals
Ambient ready meals have advantage at breakfast occasions
Premiumisation of sushi and lunchboxes
FOODS PURCHASED
Big difference in penetration rates for different types of ready meals
Figure 24: Foods purchased, China, April 2019
Women show a higher preference for exotic ready meals
Figure 25: Selected purchased ready meals, by gender, China, April 2019
Sales strategy could be varied based on city tiers and regions
Figure 26: Purchased ready meals, by city tier, China, April 2019
Figure 27: Purchased ready meals, by region, China, April 2019
CONSUMPTION OCCASIONS 
Develop frozen ready meals based on different needs
Figure 28: Consumption occasions, China, April 2019
Ambient ready meals have advantage at breakfast occasion
Figure 29: Freeze-dried congee breakfast pack, by Hai Fu Sheng, China
Ambient ready meals brands could develop the late-night occasion
Figure 30: Packaged ambient ready meals in a “late night canteen” food box, China
Figure 31: Late-night food pack, by Bai Cao Wei, China
TRADING UP POTENTIAL
Going premium to differentiate from competitors
Figure 32: Trading up potential, China, April 2019
High trade up potential in Western-style frozen ready meals
Figure 33: Comparison of “ready meal purchased” and “trade up potential”, China, April 2019
Figure 34: Steak meal sets targeting different group of consumers, by Niu Da Chu, China
Demand for introducing premium sushi and lunchbox
GENERAL ATTITUDES/HABITS
Make breakfast ready meals more appealing
Figure 35: General attitude/habit, China, April 2019
Figure 36: Attitudes of consumers who think ready meals designed for breakfast would be appealing, China, April 2019
Collaborate with potential platforms
Figure 37: General attitude/habit, China, April 2019
Develop single-serve size ready meals for 20-24s
Figure 38: Agree that ready meals are a suitable option for dining alone, by age, China, April 2019
Figure 39: All-in-one cooking devices, by Bear, China
FACTORS ASSOCIATED WITH HEALTH VALUE
Consumers pay more attention to intrinsic factors
Figure 40: Factors associated with health value, China, April 2019
Figure 41: Oats with higher in iron claim, by Seamild, China
Attention to short shelf life implies opportunities for chilled ready meals
Upgrade ingredients to enhance the healthy image of local ready meals
Figure 42: Selected factors associated with health value, by different ready meal buyers, China, April 2019
FUTURE TRENDS
Filling snacks would become ready meals
Figure 43: Consumption of and interest in ready meals and snacks, China, April 2019
Figure 44: Users’ satisfaction rate, China, April 2019
Highlight the strengths of and improve freeze-dried food
Regional specialty snack brands could try to reach new consumers
Figure 45: Non-users’ interest in trying, China, April 2019
MEET THE MINTROPOLITANS
Premium frozen ready meals have potential to grow in certain occasions
Figure 46: Selected consumption occasions of frozen ready meals, by consumer classification, China, April 2019
Figure 47: Selected frozen ready meals which consumers are willing to pay more for a premium variety, by consumers classification, China, April 2019
Multi-pack ready meals would meet MinTs’ needs
Figure 48: Habit - I prefer to buy family sized ready meals, China, April 2019
APPENDIX – MARKET SIZE AND FORECAST
Figure 49: Best- and worst-case forecast for sales value of ready meal market, China, 2014-24
Figure 50: Best- and worst-case forecast for sales volume of ready meal market, China, 2014-24
APPENDIX – MARKET SEGMENTATION
Frozen Ready meal market
Figure 51: Best- and worst-case forecast for sales value of frozen ready meal market, China, 2014-24
Figure 52: Best- and worst-case forecast for sales volume of frozen ready meal market, China, 2014-24
Chilled Ready meal market
Figure 53: Best- and worst-case forecast for sales value of chilled ready meal market, China, 2014-24
Figure 54: Best- and worst-case forecast for sales volume of chilled ready meal market, China, 2014-24
APPENDIX – METHODOLOGY AND ABBREVIATIONS
Methodology
Fan chart forecast
Abbreviations

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