Market research company Reportbuyer.com announced the availability of a new research report: “The U.S. Prepared Meals Market: What Consumers Eat and Why?”
The report provides the results for the Prepared Meals market in the U.S. from Canadean's unique, highly detailed study of consumers' Consumer Packaged Goods (CPG) consumption habits, and forms part of an overall series covering all CPG product markets, according to the company. Its coverage includes, but is not limited to, consumption behaviors, the extent to which consumer trends influence their consumption, the value of the market these trends influence, and brand and private label choices as well as retailer choices. Much of this information can also be analyzed by specific consumer groups, providing hard and fast data on consumers and markets at the product category level.
According to Reportbuyer.com the data provided is unique in the market as it tracks consumer behavior through to its actual value impact on a product market. This provides readers with a unique data analysis of the market, allowing marketing tactics and strategy to be updated in line with the very latest consumer behaviors.
Key Features and Benefits:
- Consumer data, based upon proprietary surveys and then consumer group tracking and modeling for the following specific categories: Meal Kits, Pizza and Ready Meals markets.
- Detailed consumer segmentation covering over 26 consumer groups, 20 consumer trends and consumption frequency for each product category.
- Consumer penetration for brands and private labels, based upon the original survey and then subsequent consumer tracking and modeling.
- Unique retailer choice data at the product category level, based upon the original survey and then subsequent consumer tracking and modeling.
Key Market Issues
More females consume Meal Kits than males. For instance, 13 percent of females record heavy frequency consumption compared to 8 percent of males, while 31 percent of females record light frequency consumption compared to 25 percent of males. Suppliers should consider this gender gap when developing their marketing strategies.
The Prepared Meals market in the U.S. is dominated by the Ready Meals category, which constitutes 67 percent of the overall market by value. This market is double the size of the second-largest product category, Pizza.
The frequency of Pizza consumption is highest among Tweens and Early Teens, 45 percent of which are heavy frequency consumers. This indicates that advertising and marketing campaigns are effectively executed on this demographic.
Key Highlights
Older consumers have a 24 percent share of the total Prepared Meals market in the US. This is a direct result of their sheer numbers, with the age group accounting for 25 percent of the total population. Slightly below average consumption by this age group indicates that it still has the potential to grow.
Approximately 40 percent of the value of the U.S. Prepared Meals market is accounted for by consumers in the Time Rich busy lives group. This highlights the importance of children and young adults in education to the Prepared Meals market.
Private labels record the highest penetration in the Meal Kits product category, which is also the least valuable in the Prepared Meals market in the U.S. Consumption in the more valuable categories of Ready Meals and Pizza doesn't exceed 10 percent, highlighting an area which may come under increased focus from retailers.
For more information or to purchase the report click here.
