Are you interested inentering the fastest growing retail food niche? McDonalds, Burger King excel at ready-2-eat bundled meals. Whole Foods reported great numbers driven byboth fresh ready-2-eat and heat-N-eat prepared food. P.F. Chang’s sold 100M in heat-N-eat mealkits within the retail sector during its very first year at retail. The retail landscape is dynamic notstatic. Are your food products positioned for ongoing success? If so you must be in the grocerant niche.
Fresh prepared mealsand meal components simply make consumers life simpler. With 50%of Americans over the age of 18 single the opportunity in this sectoris great and growing. A new report fromCanadean (canadean.com) provides a clear view of market segmentation and keydrivers to garner influence with each segment. Here is a sample of the highlights:
- Private labels record the highest penetration in the Meal Kit’s product category, which is also the least valuable in the Prepared Meals market currently.
- Approximately 40% of the value of the US Prepared Meals market is accounted for by consumers in the Time Rich busy lives group.
- Older Consumers have a 23% share of the total Prepared Meals market in US. This is a direct result of their sheer numbers, with the age group accounting for 25% of the total population. Slightly below average consumption by this age group indicates that it still had potential to grow.
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