Business Insights has just published the report “Innovations in Ready Meals”. In 2009, the global market for ready meals was worth $71.6bn, with a forecast CAGR of 3.9% to 2013. In Western Europe and the US, the ready meals market is fairly mature and well-established, with moderate growth rates. However, growth in the industry will primarily come from key emerging markets such as China and Russia.
Meanwhile, ready meals that offer health and indulgence benefits continue to provide a number of growth opportunities for manufacturers in developed markets. Ethical concerns relating to sustainable packaging and local sourcing of food are also having an impact on new product development (NPD) in ready meals.
“Innovations in Ready Meals” contains a summary of innovative and novel ready meals launched between 2006 and 2009, as reported by Product Launch Analytics, an in-house database of new product launches. The report also analyzes market data on the value growth of the ready meals market as well as innovation, NPD and emerging market trends in the sector.
The full-text of the report is available on the web to members of the IESE community.