PROSPECTS AND OPPORTUNITIES
Affordable prices and restaurant-inspired dishes will gain popularity in the years ahead
Inflationary pressures are reported to be easing somewhat in meals and soups in Colombia in 2024, and looking ahead, these could be perceived as more affordable. Due to the strong presence of private labels in the category, price is expected to remain an important factor in supporting volume sales.
Plant-based trends will influence innovation in ready meals
Cross-category trends also offer opportunities to develop meals and soups in line with the rise of veganism and flexitarian diets. So far, innovation has been focused on staples, snacks, and dairy; however, a range of premium plant-based ready meals with protein is possible.
Meal kits set to enjoy growth over the forecast period
Demand for quick recipe kits in Colombia is expected to grow over the forecast period, with the current trends shaping the evolution of the category and redefining the way local consumers plan, prepare and consume their meals at home. This will support, for instance, the consumption of instant noodles.
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Overview:
Understand the latest market trends and future growth opportunities for the Meals and Soups industry in Colombia 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 Meals and Soups industry in Colombia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Meals and Soups in Colombia 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 Meals and Soups in Colombia?
- Which are the leading brands in Meals and Soups in Colombia?
- How are products distributed in Meals and Soups in Colombia?
- 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 Meals and Soups?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Colombia?
- 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?
Meals and Soups in Colombia - Category analysis
KEY DATA FINDINGS
Ready meals enjoy growth as local consumers look for convenience
Formats for ready meals evolve with a focus on sustainability
Ready meals must overcome unhealthy profile to boost sales
Affordable prices and restaurant-inspired dishes will gain popularity in the years ahead
Plant-based trends will influence innovation in ready meals
Meal kits set to enjoy growth over the forecast period
Cooking Ingredients and Meals in Colombia - Industry Overview
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
The following categories and subcategories are included:
Meals and Soups
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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
Meals and Soups
This is the aggregation of ready meals, pizza, food kits, prepared salads, and soup. Includes: These are products that have had recipe 'skills' added to them by the manufacturer, resulting in a high degree of readiness, completion and convenience. Food kits is an exception where typically the extent of preparation is much shorter than other meal products; includes meal kits where consumers are to put together pre-portioned ingredients and cook with the guidance of recipe cards. Ready meals are generally accepted to be complete meals that require few or no extra ingredients. However, in the case of shelf stable ready meals, the term also encompasses meal 'centres’; for food kits, they do require a degree of cooking and preparation. As such, some meals may require cooking (ready-to-cook); others may simply need reheating, prior to serving (ready-to-eat). Excludes: Any products sold unpackaged and/or by weight, including food sold from a retail deli counter.
See all of our definitionsWhy 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 Meals and Soups research and analysis database.
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