PROSPECTS AND OPPORTUNITIES
Variety and exploration in flavours is key for forecast innovation
Ready meals has gained huge attention from customers in New Zealand, especially frozen meals, due to their long-lasting shelf life and convenience. As the demand for quick, hassle-free dining options rises, these ready meals present significant growth opportunities.
Emphasis on local sourcing and specific dietary requirements boosts sales
Emphasising local sourcing can benefit sales of meals and soups across the forecast period. While appealing to local consumers who want to support domestic companies, this approach also supports local farmers and communities, particularly during economic challenges.
Health, nutrition and functional benefits will drive new launches over the forecast period
As economic uncertainties continue over the early forecast period, brands are increasingly focused on providing affordable solutions and consumer confidence is expected to gradually rebound. As a result, we may see a rise in out-of-home dining and increased overall demand in the food category.
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Overview:
Understand the latest market trends and future growth opportunities for the Meals and Soups industry in New Zealand 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 New Zealand, 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 New Zealand 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 New Zealand?
- Which are the leading brands in Meals and Soups in New Zealand?
- How are products distributed in Meals and Soups in New Zealand?
- 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 New Zealand?
- 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 New Zealand - Category analysis
KEY DATA FINDINGS
Affordable convenience remains highly attractive for busy consumers
The home cooking trends drives the rise of fake-aways in New Zealand
Despite rising prices, health and wellness remains a key priority
Variety and exploration in flavours is key for forecast innovation
Emphasis on local sourcing and specific dietary requirements boosts sales
Health, nutrition and functional benefits will drive new launches over the forecast period
Cooking Ingredients and Meals in New Zealand - 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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