Dublin, May 23, 2024 (GLOBE NEWSWIRE) -- The "World Market for Cooking Ingredients and Meals" report has been added to ResearchAndMarkets.com's offering.
Cooking ingredients and meals has experienced turbulent times, with inflationary pressures and changing working environments in the post-pandemic world causing both channel and category shifts. Consumers are changing their cooking and eating habits, requiring companies to adapt and provide innovations.
Focusing on sustainable and health-focused solutions is expected to generate growth over the forecast period, while the premium segment is expected to bring excitement to the market.
Key Findings
Plant-based options are becoming more prevalent in cooking ingredients and meals categories
Plant-based options were historically scarce across cooking ingredients and meals categories but have been expanding in global markets. Trust in labels like "vegan" has grown significantly over the last few years, as exposure increases. While plant-focused diets are gaining popularity, products with such claims have low penetration, leaving room for new entries focusing on familiar tastes and ease of use.
Health features are pivotal in the industry and are entering even the most indulgent categories
Demand for cooking ingredients and meals with more nutritious ingredients continues to rise. Health claims linked to reduced sugar, gluten-free and lactose-free options have experienced substantial growth in the industry. In the case of sweet spreads, which are often seen as unhealthy, demand for lower sugar content and added fibre or protein has been on the rise. Permissible indulgence will drive the development of product variations with improved recipes and catering to various dietary needs.
Premiumisation through flavour, experience and convenience is set to drive industry growth
Over 2022-2023, global economies went through turbulent times, with many households having to cut their expenditure on non-essential items. Despite the cost-of-living crisis, premiumisation continues to rise, as many consumers still want high-quality, gourmet products that also provide the convenience of easy meal preparation. Focusing on improving the overall experience of products like ready meals or sauces will remain important.
Sustainable product solutions are gaining in importance, and claims are becoming more diversified
Consumers are increasingly focused on sustainability and their impact on the environment. Organic has been at the forefront of providing a "greener" choice when shopping, but other sustainable sourcing claims are gaining interest, too. The cooking ingredients and meals industry, with its diverse product range and wide variety of ingredient sources, is expected to see a rise in products with sustainable sourcing claims focusing not only on agriculture but fisheries, forestry and packaging.
New retail solutions catering to consumer needs are gaining attention
New retail solutions are taking ready meal convenience to the next level. Choice is becoming more important for consumers, and pure ready meal stores can provide this, while also gathering feedback direct from consumers. Unconventional working hours often limit food choices, thus vending machines are a promising way to expand purchasing occasions for ready meals. More retail solutions offering convenience are expected to be seen over the forecast period.
The World Market for Cooking Ingredients and Meals global briefing provides a comprehensive overview of the Cooking Ingredients and Meals market, providing insight on sales and market potential, retail distribution and company and brand shares. Analysis identifies emerging geographies alongside growth opportunities in the most developed, highest value countries.
It also offers strategic analysis of the key trends shaping the industry and consumer demand, such as health and wellness, sustainability, the evolution of eating occasions, in addition to ongoing considerations of convenience and value-for-money in the post-pandemic world. Insight into how these trends are shaping demand informs forecasts to 2028, clearly indicating how the market is expected to change.
Key Topics Covered:
Introduction
- Scope
- Examining five trends shaping the cooking ingredients and meals industry
- Polarisation becoming more pronounced in cooking ingredients and meals
- Edible oils shortage causing market disturbance and continued price growth
- Developed markets see slower growth in cooking ingredients and meals
- Edible oil prices facing long-term challenges amidst climate change effects
- Asia Pacific to contribute the majority of absolute growth across all categories
- Sauces, dips and condiments to see dynamic growth, driven by new launches
- Sunflower seed oil still has significant potential for growth
- Inflationary pressures drive discounters' growth
Leading companies and brands
- Flexibility to meet consumers' needs allows small players and private label to gain share
- Unil ever manages to gain back lost market share while direct competitors continue to fall
- HelloFresh is faced with growing pains after fast expansion
- Plant-based meals pose challenges, but offer substantial gains
Top five trends shaping the industry
- Examining five trends shaping the cooking ingredients and meals industry
- Plant-based claims continue to rise, driven by vegan, vegetarian and flexitarian diets
- Plant-based options becoming more prevalent in ready meals, with influx of new entries
- Sauce category branches out by innovating with vegan product ranges
- Lower sugar content and higher nutrition in demand among health-orientated consumers
- Mr Choco sweet spread addresses health concerns within an indulgent category
- Premiumisation through taste, experience and convenience essential in the industry
- Demand for convenience drives growth and innovation in ready meals
- Gourmet and premium culinary trends redefine dining experiences at home
- Innovations catering to convenience help attract busy consumers
- Cooking ingredients and meals products see a rise in more focused sustainability claims
- Italy's Blueat introduces sustainably sourced sauces, helping reduce environmental impact
- Offline retailing gaining back customers by catering to consumer needs
- New retail solutions improve ready meal convenience and experience
Market snapshots
- Global snapshot of edible oils
- Global snapshot of meals and soups
- Global snapshot of sauces, dips and condiments
- Global snapshot of sweet spreads
- Regional snapshot: Asia Pacific
- Regional snapshot: North America
- Regional snapshot: Latin America
- Regional snapshot: Western Europe
- Regional snapshot: Middle East and Africa
- Regional snapshot: Eastern Europe
- Regional snapshot: Australasia
For more information about this report visit https://www.researchandmarkets.com/r/9o7sqb
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