Cooking ingredients and meals in 2024: The big picture
Retail sales of cooking ingredients and meals in Hungary are set to register buoyant growth in current value terms in 2024. While this is partly a result of inflationary pressures, these are significantly easing compared to the high levels experienced in 2022 and 2023.
Key trends in 2024
As urbanisation progresses, demand for convenience continues to rise, resulting in a notable increase in sales of ready meals tailored to busy lifestyles. In response, retailers are expanding their private label ready meal offerings, providing a diverse selection of affordable yet high-quality alternatives that appeal to a wide range of consumer preferences.
Competitive landscape
Unilever continues to dominate a highly fragmented competitive landscape, followed by Lidl and Spar. Indeed, the private label offerings of the leading grocery chains are exerting a considerable influence on the market for cooking ingredients and meals in Hungary, due to the innate price consciousness of the population.
Channel developments
The most significant trend within the retail distribution landscape is a continued shift towards discounters. This is being driven by high food inflation, which is prompting consumers to seek out cheaper, private label alternatives to their usual products.
What next for cooking ingredients and meals?
The outlook for cooking ingredients and meals in Hungary is cautiously optimistic, fuelled by a recovery in consumer confidence and the demands of increasingly busy lifestyles. As consumers prioritise convenience,, there is expected to be a notable increase in spending on products that facilitate quick meal preparation, such as frozen ready meals and pizzas.
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Overview:
Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in Hungary with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Cooking Ingredients and Meals industry in Hungary, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Cooking Ingredients and Meals in Hungary report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Cooking Ingredients and Meals in Hungary?
- Which are the leading brands in Cooking Ingredients and Meals in Hungary?
- How are products distributed in Cooking Ingredients and Meals in Hungary?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Cooking Ingredients and Meals?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Hungary?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Cooking Ingredients and Meals in Hungary
Cooking ingredients and meals in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for cooking ingredients and meals?
DISCLAIMER
Edible Oils in Hungary
KEY DATA FINDINGS
Price moderation drives demand for sunflower oil, while olive oil experiences supply issues
Vénusz taps into premiumisation trend
Shift towards competitively priced, yet high-quality products
Growing demand for organic and sustainable edible oils
Polarisation of olive oil offerings
Rising preference for healthier oils amongst older adults
Meals and Soups in Hungary
KEY DATA FINDINGS
Growing emphasis on nutritional transparency and consumer engagement through digital platforms
Rise in private labels and food delivery services, driven by demand for affordable convenience
Growing interest in global flavours
High-quality meals and soups will continue to gain momentum, driven by changing lifestyles
Growing demand for plant-based options
Strategic mergers and rebranding will shape the competitive landscape
Sauces, Dips and Condiments in Hungary
KEY DATA FINDINGS
Specialisation will drive growth
Consumers shift to discount channels amid high food inflation
Rising demand for sauces and condiments targeted at special diets
Shift towards “zero” branded health-focused alternatives
Sustainability will drive new product innovation
Growing demand for international flavours
Sweet Spreads in Hungary
KEY DATA FINDINGS
Chocolate spreads lead growth, thanks to stable contribution of Nutella
Advent of new of wave of sweet spreads with health-oriented positioning
Premium honey and jam brands retain appeal, despite inflationary pressures
New EU legislation to drive transparency and quality in Hungary's sweet spread market
Growing demand for unique and adventurous “fusion flavours”
Growing demand for clean-label and fortified sweet spreads
The following categories and subcategories are included:
Cooking Ingredients and Meals
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- Olive Oil
- Corn Oil
- Palm Oil
- Rapeseed Oil
- Soy Oil
- Sunflower Oil
- Other Edible Oil
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- Dried Ready Meals
- Shelf Stable Ready Meals
- Chilled Ready Meals
- Frozen Ready Meals
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- Dry Soup
- Shelf Stable Soup
- Chilled Soup
- Frozen Soup
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- Chilled Pizza
- Frozen Pizza
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- Meal Kits
- Quick Recipe Kits
- Chilled Lunch Kits
- Prepared Salads
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- Liquid Stocks and Fonds
- Stock Cubes and Powders
- Gravy Cubes, Powders and Pots
- Monosodium Glutamate
- Herbs and Spices
- Tomato Pastes and Purées
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- Liquid Recipe Sauces (excl pasta sauces)
- Dry Recipe Sauces
- Pasta Sauces
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- Barbecue Sauces
- Fish Sauces
- Ketchup
- Mayonnaise
- Mustard
- Oyster Sauces
- Salad Dressings
- Soy Sauces
- Chili Sauces
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- Dips
- Yeast-based Spreads
- Pickled Products
- Other Sauces and Condiments
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- Honey
- Chocolate Spreads
- Jams and Preserves
- Nut and Seed Based Spreads
Why buy this report?
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- Track key industry trends, opportunities and threats
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This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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