Ready-to-Eat and Prepared Foods Market Bundle


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Ready-to-Eat and Prepared Foods Market Bundle

  1. 1. Get more info on this report!Ready-to-Eat and Prepared Foods Market BundleAugust 1, 2010 Fresh Convenience Foods in the U.S.Fully updated from the December 2007 edition, Fresh Convenience Foods in the U.S.offers a comprehensive look at this complex market. It examines the both myriad typesof fresh convenience foods and the myriad retail channels through which they areobtained—from traditional outlets such supermarkets and supercenters/massmerchandisers to such increasingly dynamic segments as convenience stores, delisand local food outlets, drugstores, the Internet, and even food carts.This full updated report details the complex changes that have taken place in the marketsince the previous edition, with new attention to competition by retail sector. UsingSymphony/IRI mass-market sales tracking data, it offers detailed accounts of sales andmarketer/brand activity across 17 refrigerated product segments, from lunch kits anddinners/entrees to fresh soup and side dishes, while diving into selected segmentsusing SPINSscan data for natural supermarket channel. The report projects sales,market growth drivers, and competitive opportunities, including an extensive account ofthe battle with the foodservice industry for consumer dollars that details thestaggering—and still growing—assortment of menu and marketing trends shaping theindustry. More> Prepared Food and Ready-to-Eat Foods at Retail: The New Competition to FoodservicePackaged Facts’ new report, Prepared Food and Ready-to-Eat Foods at Retail: TheNew Competition to Foodservice offers the foodservice and retail industries new insightinto the highly competitive prepared and ready-to-eat foods space. Relying heavily onproprietary consumer research analysis, the report provides “consumer drilldowns” andpsychographic profiling, offering foodservice operators and retailers unique access tothe minds of prepared foods consumers. And by assessing the relationship betweenfast food, family, and casual restaurant attitudes and behavior with that of grocery store
  2. 2. and convenience store prepared foods attitudes and behavior, this report also offersunique competitive analysis to help players align and differentiate their productofferings.More> Frozen Convenience Foods in the U.S.Specifically, the mammoth frozen pizza category and the spunky hand-held breakfastcategory have both found a way to go head-to-head with restaurants; and the preparedvegetable category has been able to triumph on the freshness front via the developmentof steaming techniques. According to Packaged Facts, these three categories have ledthe way sales-wise, enabling an otherwise ambivalent market for frozen conveniencefoods to grow by a modest 2.0% in 2010 to reach sales of $16.8 billion. Packaged Factsexpects that marketers in other categories will soon adopt similar strategies, drivingsales of fresh convenience foods up another 10% by 2015, to $18.6 billion.Fully updated from the 2007 edition, Frozen Convenience Foods in the U.S. offers acomprehensive look at this complex market in the context of how it competes with theparallel fresh convenience food market, restaurant takeout, and meals prepared fromscratch by consumers. It contains in-depth analysis of Internet marketing, includingdetailed accounts of marketing on social networking sites like Facebook. The report alsodetails the complex changes that have taken place in the market since the previousedition, with new attention to competition by retail sector, including supermarkets,supercenters/mass merchandisers, warehouse clubs, small marts and Internet. More>Additional InformationMarket Insights: A Selection From The Report - Prepared Foods and Ready-to-EatFoods at Retail: The New Competition to FoodserviceChapter 2: Prepared Foods Macroeconomic AnalysisIn this section, Packaged Facts provides directional analysis on the effects keymacroeconomic drivers are having on RTE foods found at convenience stores, gasstations, grocery stores and supermarkets. We frame analysis within the broadercontext of the foodservice market. While key macroeconomic drivers have begunmoving in a more positive direction, Packaged Facts believes consumers will remainedpressured through 2010. While Q1 2010 restaurant spending shows life, we do notbelieve it is sustainable without changes in the employment and housing markets.Longer-term trends continue to favor food retail.Sales at food services and drinking places tick upward in February and March2010
  3. 3. The National Restaurant Association’s more upbeat outlook is supported by data fromthe U.S Census. Below, Packaged Facts compares monthly sales with year-earliermonthly sales, which reveals that March 2010 (non-adjusted) food services and drinkingplaces sales were 2.7% higher than March 2009 sales. When adjusted for seasonalvariations and holiday and trading-day differences, sales rose by 2.9%.However, March 2010 (non-adjusted) grocery store sales were 5.3% higher than thoseestimated for March 2009. On an adjusted basis, sales rose by 3.1%. So, while growingspringtime sales may have buoyed restaurants, grocery stores sales have not only keptpace, but so far in 2010 they have actually grown at a faster pace.Packaged Facts’ Consumer Restaurant Tracker: home meal use gains groundAnd, as suggested by Packaged Facts’ Consumer Restaurant Tracker, consumersreport continuing to shift their food spending into the home, as illustrated by the graphbelow. Data are derived from Packaged Facts’ February 2010 proprietary restauranttracking survey.• Compared to “three months ago,” about 50% of respondent adult (18+) restaurantgoers say they are more likely to eat dinner at home—with almost one-third doing so “alot more.”• 39% say they are eating breakfast at home more than they were three months ago—with almost 3 in 10 doing so “a lot more.”• Conversely, restaurant goers are less likely to be using or spending on a range ofrestaurant options. Of course, much of this behavior is related to cost: to save money,consumers are bringing their food spend back into the home, after decades of doing theopposite.And one key barometer, the Consumer Price Index, supports the rationale, as it shows“food at home” prices not only declining during the recession, but also being cheaperthan “food away from home” (see the Food at home gains pricing edge section below).Market Insights: A Selection From The Report - Fresh Convenience Foods in theU.S.Recessionary Decline in Restaurant Traffic a Plus for Fresh Convenience FoodsThe results of Packaged Facts’ consumer survey support the conclusion presentedearlier in this report—that key to fresh convenience food market growth in the face ofthe 2008/2009 “Great Recession” and still-iffy U.S. economy is the trend wherebyconsumers have traded down from restaurant meals in favor of fresh prepared foods.Since the recession began, 49% of the adults surveyed reported that they had eatenless at fast-food restaurants and 50% said they’d eaten less fast-food takeout, while61% said they’d eaten less at sit-down restaurants. Conversely, the percent of adults
  4. 4. who strongly agreed that they were spending less on groceries because of the economywas only 15%, while another 28% somewhat agreed. In other words, restaurantsexperienced a significant drop-off in consumer demand even as relatively fewconsumers cut back on grocery spending. [Figure 1-2]18% of U.S. Consumers Are Buying More Fresh Prepared FoodsPackaged Facts also asked its consumer panel if they had eaten more fresh preparedfood since the recession began, with 18% responding that they had. While not directlyparallel (since the question is in the past tense), it does pose an interesting contrast tothe combined total of 13% of consumers who said they would spend a little or a lot moreon fast food, restaurant dining, and takeout from those outlets in the following threemonths, as discussed above, since the figures imply a gradual swing back in therestaurant direction.Entrees Top Unpackaged Foods ChartBased on data from sources including SymphonyIRI and FreshLook Marketing Group(FLM—Hoffman Estates, IL), the first syndicated scanner-based database to trackperishable categories, Packaged Facts estimates that entrees account for the largestshare of unpackaged fresh convenience food sales, at 30%, followed bysandwiches/pizza (22%), appetizers & trays (18%), and salads (16%). However, asdiscussed elsewhere in this report, it is important...Available immediately for Online Download at 800.298.5699UK + +1.240.747.3093Fax: 240.747.3004