Cooking ingredients and meals in 2024: The big picture
Cooking ingredients and meals is set to see current value growth in Spain in 2024. Despite inflation being under control, prices remain high for most categories, contributing to significant growth in key categories such as olive oil.
Key trends in 2024
Although price remains a crucial factor in purchasing decisions in 2024, the partial recovery of purchasing power has led health conscious consumers to increasingly seek products that are less processed and provide additional health benefits. Producers are focusing their innovation efforts on delivering products carrying popular health and wellness claims, such as natural ingredients, better for you (free from certain ingredients), high protein, and plant-based options.
Competitive landscape
The private label segment continues to gain value share in most categories, though its growth has slowed compared to the previous two years. However, there are exceptions such as vegetable and seed oils and frozen pizza.
Channel developments
Consumers frequently visited a variety of stores during the period of high inflation to find the best prices. In 2024, with prices stabilising, Spaniards are reverting to shopping at a single store.
What next for cooking ingredients and meals?
Cooking ingredients and meals is expected to register a positive performance over the forecast period. Olive oil is likely to see a recovery in consumption, while sunflower oil will face continued supply risks due to the ongoing war in Ukraine.
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Overview:
Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in Spain 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 Spain, 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 Spain 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 Spain?
- Which are the leading brands in Cooking Ingredients and Meals in Spain?
- How are products distributed in Cooking Ingredients and Meals in Spain?
- 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 Spain?
- 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 Spain
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 Spain
KEY DATA FINDINGS
Price increases dampen volume sales of olive oil
Sunflower oil seeing strong rise in volumes
Private label continues to dominate
Olive oil to return to volume growth
Mercadona has key role to play in category development
Packaging innovation with an emphasis on sustainability
Meals and Soups in Spain
KEY DATA FINDINGS
Continued rise in sales, though value growth is set to slow
Soup seeing healthy growth
Meal kits dominated by two companies
Growing demand for convenience
Health and wellness trend to influence category development
Expansion of plant-based options
Sauces, Dips and Condiments in Spain
KEY DATA FINDINGS
Growing demand for pasta sauces
Growing interest in herbs and spices
Health and wellness driving innovation
Producers of sauces focusing on foodservice opportunities
Increasing consumer interest in spicy foods to exert growing influence in sauces
Dynamism in dips
Sweet Spreads in Spain
KEY DATA FINDINGS
Parental concerns around sugar consumption adversely impacting chocolate spreads
Leading player claws back some share
Jams and preserves to see falling volumes
New regulations for honey
Sweet spreads set to see stagnation
Major players looking to diversify
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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This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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