Cooking ingredients and meals in 2024: The big picture
Cooking ingredients and meals in the UK faces ongoing challenges, yet shows signs of stabilisation. Global supply chains remain disrupted due to political conflicts and economic pressures, but food inflation has eased compared to the sharp increases of 2022 and 2023.
Key trends in 2024
Key trends driven by consumer demand for convenience, health, and flavour innovation continue to shape demand for cooking ingredients and meals in the UK. The "fakeaway" phenomenon, which emerged in 2023, is now a significant force in the local market where restaurant brands are leveraging their popularity by offering ready meals, pizza, and sauces for distribution via popular chained grocery retailers, thereby expanding their reach beyond dining out.
Competitive landscape
The competitive landscape reveals clear leaders across various categories where brands are regaining an edge over private label, as quality and taste become increasingly valued, particularly in edible oils and sauces. Private label, which experienced a surge during the cost-of-living crisis, is now losing some ground as consumers shift back to trusted brands.
Channel developments
While foodservice volume sales continue to grow, the pace of expansion is notably slower compared to the rapid increase recorded in 2021 and 2022. Economic pressures, despite easing inflation, have dampened consumer spending on dining out, with many opting for home-cooked meals instead.
What next for cooking ingredients and meals?
The industry is entering a period of stabilisation following the pandemic's disruptions and price volatility. From 2025 onwards, a return to more predictable market conditions is expected, although some supply shortages, particularly in edible oils, may persist due to unpredictable weather patterns.
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Overview:
Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in United Kingdom 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 United Kingdom, 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 United Kingdom 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 United Kingdom?
- Which are the leading brands in Cooking Ingredients and Meals in United Kingdom?
- How are products distributed in Cooking Ingredients and Meals in United Kingdom?
- 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 United Kingdom?
- 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 the United Kingdom
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 the United Kingdom
KEY DATA FINDINGS
Declining olive oil volumes driven by climate conditions and high prices
Vegetable and seed oils gain traction amid increasing prices of olive oil, but challenges remain
Availability constraints hinder private label’s volume growth
Difficulties expected to continue into the forecast period
Opportunity for new blends and formats of edible oils
Interest in better-for-you edible oils could push further value and adoption
Meals and Soups in the United Kingdom
KEY DATA FINDINGS
Varied performances within meals and soups
Premiumisation fuels gains in ready meals
Ongoing challenges for meal kits as growth peaks, but outperforms 2023
Expanding the consumer base through flavour and authenticity
Convenience is king as ready meals expands beyond chilled and frozen segments
The growing importance of health and nutrition
Sauces, Dips and Condiments in the United Kingdom
KEY DATA FINDINGS
Cooking trends as a driver of category performance
Role of flavour and variety in the underperformance of private label
Pickled products and fermented ingredients capture growing interest
Rising popularity of unique yet authentic sauces and condiments
Cooking trends driven by the rise of healthy eating habits
Opportunities for growth and innovation among sustainable products
Sweet Spreads in the United Kingdom
KEY DATA FINDINGS
Pricing, health and innovation drive stronger performance of honey
The impact of ingredients costs on jams and preserves
Growth of nut and seed based spreads sustained by health proposition and expanded consumer reach
Health trends set to influence consumer choices in sweet spreads
Sweet spreads to gain momentum as eating occasions expand
Sustainability movement driven by deforestation regulations impact palm oil
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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