The industry is expected to grow over the five years through 2015-16. Spending pressures caused consumers to eat fewer meals at restaurants, boosting demand for prepared meals. The industry has benefited from trends towards smaller households and rising weekly hours of work, which prompted consumers to opt for time-saving and convenient food products over fresh ingredients. Developments in food sciences have also been advantageous, as operators have been able to produce tastier and more nutritious meals at lower costs.
Operators in the industry manufacture meals that are preserved by being frozen, chilled or stored in airtight containers such as in cans and jars. The industry excludes foods with fewer than two distinct ingredients (not including seasoning and additives) and perishable prepared meals like salads, sandwiches and fresh pizza.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.