(MENAFNEditorial)
Understanding Consumer Trends and Drivers of Behavior in the US Prepared Meals Market provides an overview of the market analyzing market data demographic consumption patterns within the category and the key consumer trends driving consumption. The report highlights innovative new product development that effectively targets the most pertinent consumer need states and offers strategic recommendations to capitalize on evolving consumer landscapes.
Key Findings
* Consumers aged 55 and over are a key consumer group for Prepared Meals in the US
* The US Prepared Meals market is the largest by both volume and value
* The desire for convenient products at affordable prices drives Prepared Meals' consumption in the US
* The search for Prepared Meals offering better value for money will result in decreasing brand loyalty
Synopsis
Understanding Consumer Trends and Drivers of Behavior in the US Prepared Meals Market identifies the key demographic groups driving consumption and what motivates their consumption. The report uses a unique method of quantifying consumer trends to highlight the degree of influence they have on consumption within the category. The report also identifies the most important trends within the market and shows whether beliefs over what influences consumer behavior within the category are accurate.
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* Key consumer demographic groups driving consumption within the US market. The figures showcase the number of times consumers of specific ages and gender consume Prepared Meals as well as identifying whether these demographic groups "over" consume in the category (i.e. they account for a higher proportion of occasions than the proportion of society they represent overall)
* Market value and volumes over 2008-2018 for the US and nine other countries to give a global context
* The degree of influence that the 20 key consumer trends identified by Canadean have on Prepared Meals consumption volumes with granular analysis on the extent that degree of influences varies between gender and age group
* Insight into the implications behind the data and analysis of how the needs of will evolve in the short-to-medium term future
* Examples of international and US-specific product innovation targeting key consumer needs.
Reasons to Get this Report
This report brings together consumer analysis and market data to provide actionable insight into the behavior of the US Prepared Meals consumers. This is based on Canadean's unique consumer data developed from extensive consumption surveys and consumer group tracking which quantifies the influence of 20 consumption motivations in the Prepared Meals sector. This allows product and marketing strategies to be better aligned with the leading trends in the market.
Companies Mentioned in this Report: Atkins Nutritionals Bellisio Foods ConAgra Foods Conde Nast Fantastic World Foods Fleury Michon General Mills Gressingham Foods Hain Celestial Group Hasta la Pizza Hortex King Lion MeadWestvaco (MWV) Schwan's Consumer Brands Svoya Pekarnya Walmart.
Report Table of Contents:
Definitions
Category classification and demographic definitions
Summary methodology
Canadean has identified nine mega-trends that drive food choice: these can be broken down into 20 sub-trends
Market context
Busy Lives and the search for value and convenience are driving the Prepared Meals market in the US
The US Prepared Meals market currently values US$18.1 billion and is forecast to witness marginally higher growth in the next five years
Ready Meals dominates the US Prepared Meals market with 71.6% market share of all volume sold
There were 11.1 billion Prepared Meals occasions in the US in 2012 with consumption higher among Older Consumers and Males
The US is the largest Prepared Meals market in both value and volume terms
The US Prepared Meals market is one of the most attractive globally
Demographic cohort consumption patterns
Men over-consume Prepared Meals in the US
Older Consumers under-consume in the US Prepared Meals market
Men's consumption is more likely to be "heavy frequency" than women's
Americans consume Prepared Meals at a 'heavy frequency'
Consumer trend analysis
Busy Lives and value for money are the key motivations for consuming Prepared Meals in the US
Comparing consumer trends' influence on Prepared Meals' consumption across major markets
The Changing Lifestyle mega-trend: Age-aligned needs drive Prepared Meals' consumption in the US
The Connectivity mega-trend: Use of media channels such as social media has been on the rise to promote Prepared Meal products in the US
The Convenience mega-trend: The busy lives of consumers drive Prepared Meals' consumption
The Ethics mega-trend: Ethical concerns have a low impact on consumption of Prepared Meals in the US
The Experience and Enjoyment mega-trend: The desire for tasty food will shape the Prepared Meals market in the US
The Health and Wellness mega-trend: Health plays a minimal role in choosing Prepared Meals in the US
The Individuality mega-trend: US consumers look to Prepared Meals to provide moments of relaxation and me-time
The Trust mega-trend: Product safety became a major product differentiator after the horse meat scandal in the region
The Value mega-trend: Better Value For Money is an important motivator when it comes to Prepared Meals' consumption
Innovation examples
Manufacturers are innovating across categories to target the growing needs of US consumers
Global innovations on formulation and packaging can be a source of inspiration for US manufacturers
Recommended actions
- Prepared Meals producers need to target different occasions during the busy days of urban dwellers
- Manufacturers need to do more to target Older Consumers
Appendix
An explanation of the sub-trends
Detailed methodology
About Canadean
About Fast Market Research
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