Cooking Ingredients and Meals in 2024: The big picture
Overall retail demand for cooking ingredients and meals in South Africa continues to fall, as the economic difficulties of 2023 remain of concern in 2024. Inflation levels in the country remain fairly high, despite the high interest rates.
Key trends in 2024
With the difficult economic factors persisting into 2024, certain trends remain prevalent in the local market. Trading down from expensive brands to more affordable options and smaller packages remains a relevant trend.
Competitive Landscape
The competitive landscape of cooking ingredients and meals in South Africa features local and global players, along with a strong presence of private label options from grocery retailers such as Woolworths Holdings Ltd (South Africa), Pick 'n' Pay Retailers (Pty) Ltd and Shoprite Checkers (Pty) Ltd. Players in flexible positions, which are able to adjust their strategies in response to external conditions are better able to gain share, with brands also looking to identify creative ways to stay relevant while reducing promotional activities.
Channel developments
Supermarkets remains the dominant distribution channel for cooking ingredients and meals in South Africa. Many grocery retailers have been adapting to the economic climate by adjusting their strategies, shifting their offers to appeal to cash-strapped consumers.
What next for Cooking Ingredients and Meals?
The future of cooking ingredients and meals in South Africa will be influenced by the country’s economy, with the latter beginning to show positive signs. Inflation is steadily decreasing and is set to stabilise in the coming years, which will allow for a more relaxed monetary policy, essentially resulting in higher disposable incomes and greater affordability.
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Overview:
Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in South Africa 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 South Africa, 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 South Africa 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 South Africa?
- Which are the leading brands in Cooking Ingredients and Meals in South Africa?
- How are products distributed in Cooking Ingredients and Meals in South Africa?
- 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 South Africa?
- 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 South Africa
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 South Africa
KEY DATA FINDINGS
Sunflower oil continues to struggle amid price increases
Changes to consumer spending patterns in unstable economic scenario
Olive oil faces global supply shortages
Retail volume sales will struggle to return to pre-pandemic levels as consumers increasingly rely on foodservice
Lower-priced edible oils set to grow
Health and wellness trend to drive some demand for olive oil
Meals and Soups in South Africa
KEY DATA FINDINGS
Demand for meals and soups driven by loadshedding
Convenience provided by ready meals is favoured by busy consumers
Younger consumers support demand for plant-based options
Rising popularity of frozen ready meals and frozen pizza
Grocery delivery platforms to support popularity of ready meals
Dry soup set to achieve solid growth
Sauces, Dips and Condiments in South Africa
KEY DATA FINDINGS
Sauces remains under pressure, impacting entire category performance
Egg shortage impacts production of some mayonnaise brands
Demand for certain products supported by home cooking
Pessimisic outlook for retail volume sales
Foodservice growth expected over forecast period
Private label will remain highly competitive for the foreseeable future
Sweet Spreads in South Africa
KEY DATA FINDINGS
Nut and seed based spreads continues to drive demand for sweet spreads
Value offerings in sweet spreads attract price-sensitive consumers
Health and wellness trend drives growth of honey
Lower-priced products expected to gain share in sweet spreads
Nut and seed based spreads will remain most popular type of sweet spread in South Africa
Healthy products and variants likely to gain traction in local market
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?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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