PROSPECTS AND OPPORTUNITIES
Retail e-commerce will impact bricks-and-mortar in ready meals
Driven by an increasingly online consumer base seeking all means of efficiency, direct-to-consumer and marketplace providers are expected to continue to grow their shares of retail sales in the forecast period. Monopolistic tactics, particularly dynamic pricing, exclusive packaging formats, and subscription-driven promotions will fiercely activate the retail e-commerce channel in the coming years, as more producers and even retailers improve their omnichannel strategies.
Consumers willing to sacrifice choice for novelty, convenience, and value
The fallout from information saturation and choice fatigue for US shoppers is still settling, but the opportunity for new product lines may be a low-risk venture. As other packaged food categories thrive on the fuel of newness and ease, there is potential for spinning the usual fervour behind limited-time offerings into a consistent brand offering.
Private label share growth likely to stick
Whilst private label offerings have been riding the wave of inflation-driven trading down in the US, retail outlets have also become markedly more effective at engaging consumer trust in terms of value proposition and brand identity. From the discount focus of Aldi to the speciality store straddling Trader Joe’s, to the loss-leader haven of Costco, consumers are increasingly placing their faith in retail as a lifestyle brand, and ready meals are a core part of that sentiment.
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Overview:
Understand the latest market trends and future growth opportunities for the Meals and Soups industry in USA 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 USA, 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 USA 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 USA?
- Which are the leading brands in Meals and Soups in USA?
- How are products distributed in Meals and Soups in USA?
- 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 USA?
- 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 the US - Category analysis
KEY DATA FINDINGS
Consumers buckle as food inflation slows
Meal kits no longer performing as well
Wellness, innovation, and convenience trends drive format shifts
Retail e-commerce will impact bricks-and-mortar in ready meals
Consumers willing to sacrifice choice for novelty, convenience, and value
Private label share growth likely to stick
Cooking Ingredients and Meals in the US - 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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