Why was the report written?
Marketers in the Prepared Meals market face a major challenge. Understanding market size and segmentation is valuable, but the keys to effective targeting is knowing just how valuable specific consumer groups are, and being able to quantify the impact of consumer trends.This report solves these problems by providing integrated data on consumer trends, consumer groups and market data which show exactly the size of consumer groups, how much of the Prepared Meals market they account for and which consumer trends drive their behavior.
What is the current market landscape and what is changing?
Rapid economic growth has led to a fast developing middle class with a growing propensity to consume Prepared Meals, be these convenience versions of traditional dishes or ways of trying out new cuisines. In order to maximize the potential these trends offers marketers will need to understand which consumer groups, and which trends, offer the greatest rewards for their products.
What are the key drivers behind recent market changes?
Consumers' uptake of products and the influence of consumer trends are fundamental causes of change in markets - making knowing what these trends are and the extent of their influence crucial.The survey-based data provided in this report examines over 20 consumer trends that affect the market and examines the share of sales across 26 consumer groups - providing through the data a detailed insight into exactly who the consumer is and just how much impact the latest consumer trends are having.
What makes this report unique and essential to read?
The data provided is unique in the market as it tracks consumer behavior through to its actual value impact on a product market. This provides readers with a unique data analysis of the market allowing marketing tactics and strategy to be updated in line with the very latest consumer behaviors.
- Consumer survey data for the following specific categories: the Meal Kits, Pizza and Ready Meals
- Detailed consumer segmentation based on survey data covering over 26 consumer groups, 20 consumer trends and consumption frequency for each product category.
- Volume shares in 2011 for brands and private label sales tracked by the survey.
Reasons To Buy
- Unique proprietary data that sizes and segments consumers, tracks their behavior and shows the impact of this on their markets
- Results also cover over 20 consumer trends, showing exactly to what extent these trends have a direct influence on a market. As this impact assessment is based not only on how many consumers act on these trends, but also how often they act on this it provides unique insight into the "size of the prize" when targeting these consumer trends in each category covered.
- While not accounting for the whole of the market, Time Poor people account for around 60% of the market's value in India. Interestingly, in contrast a significant share is accounted for by those who are Time Rich. This perhaps indicates that while some consumers are seeking the sheer time saving benefits of these products, a significant second group is looking to save the effort involved in meal preparation, instead preferring to maximize the amount of times for other things.
- Overall branded products dominate the market in India, with Private Label penetration being under 10% in all categories covered. At present this pattern is very favorable to branded products, but if they are to maintain this position they will need to continue to offer valued-added benefits compared to Private Labels
- While Private Labels have not been able to take a major share of the market the leading brands have at most taken around a 16% share of any one category, with few others having any major share of the market. This fragmented picture highlights the potential room for growth for either new brands or Private Labels.