New Food research report from Canadean is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 09/30/2013 -- This report provides an overview of the UK ready meal market, combining market data, demographic consumption patterns within the category and the key consumer need states driving consumption. The report highlights best practice new product development for effectively targeting the most pertinent consumer need states and offers strategic recommendations to capitalize on evolving consumer need states.
Introduction and Landscape
Why was the report written?
This report has been designed to give an overview of the UK ready meal market in terms of the key demographic groups driving consumption and what their motivations are for doing so. The report adopts a unique method of quantifying consumer trends to highlight the degree of influence they have on consumption within the category. This enables the reader to identify the most important trends within the market and also determine whether beliefs over what influences consumer behavior within the category are accurate
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What is the current market landscape and what is changing?
After witnessing only stagnant market value sales growth over the period 2007-2012, value growth in the category is forecast to accelerate over the next five year period ending 2017. The fact that value will grow at a faster rate than market volume indicates there will be a greater willingness to trade-up among consumers when choosing ready meals, meaning it is vital product positioning aligns with the most important consumer need states to benefit from this future growth.
What are the key drivers behind recent market changes?
Busy lives and changing life-stages are the key drivers of change within the UK ready meal market. Consumers are feeling increasingly time-scarce as they look to balance work and social lives, are and looking for meal solutions that allow them to free up time spent in the kitchen for more favorable activities. This is true of both men and women, who are also delaying "traditional" life-time responsibilities such as marriage and parenthood until later in life. These consumers are also looking to convenience meal offerings to help facilitate their busy lifestyles.
What makes this report unique and essential to read?
This report is built on unique proprietary data based on an extensive national representative survey, enabling Canadean to provide unique valuations of consumer target groups and the degree consumer trends influence consumption patterns.
Key Features and Benefits
Key consumer demographic groups driving consumption within the UK market are also identified. The figures showcase the volume of ready meal consumption attributed to specific age groups and gender, as well as identifying whether these demographic groups "over" consume in the category (i.e. they account for a higher proportion of volume sales than the proportion of society they represent overall).
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