PROSPECTS AND OPPORTUNITIES
Economic recovery to drive further growth in discretionary spending
With improvements in the economy and a reduction in inflation expected during the forecast period, the Dominican meals and soups market is poised to outperform its historical performance. As international logistics stabilise and raw material prices return to more predictable levels, consumers are likely to increase their discretionary spending, purchasing products that are not considered essential but offer convenience and ease.
Nestlé's investment to strengthen market leadership
Market leader Nestlé is set to reinforce its position in the Dominican Republic following a significant USD 90 million investment, which will be executed by 2026. This investment is aimed at increasing the company’s production capacity and upgrading its machinery, positioning Nestlé to better meet growing consumer demand for ready meals and soups.
Shelf-stable ready meals poised for strong growth
The shelf-stable ready meals category is expected to be the best-performing segment in terms of volume growth during the forecast period. This format is gaining popularity due to its ease of storage and transport, making it an attractive option for a broad range of consumers.
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Overview:
Understand the latest market trends and future growth opportunities for the Meals and Soups industry in Dominican Republic 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 Dominican Republic, 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 Dominican Republic 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 Dominican Republic?
- Which are the leading brands in Meals and Soups in Dominican Republic?
- How are products distributed in Meals and Soups in Dominican Republic?
- 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 Dominican Republic?
- 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 Dominican Republic - Category analysis
KEY DATA FINDINGS
Lower inflation spurs increased demand for convenient meals
Strengthened logistics capacity enhances market efficiency
Inflation drives increased adoption of private label brands
Economic recovery to drive further growth in discretionary spending
Nestlé's investment to strengthen market leadership
Shelf-stable ready meals poised for strong growth
Cooking Ingredients and Meals in Dominican Republic - 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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