Ready Meals are expected to dominate the Prepared Meals sector in Italy up to 2017, according to Canadean. The fast pace of modern life has led consumers to value convenience in their daily food choices.
Ready Meals maintain their stronghold on the Prepared Meals sector in 2017
Despite a downturn in the global economy, the Prepared Meals sector in Italy is performing relatively well in terms of value and volume. The sector is expected to grow rapidly, at a Compounded Annual Growth Rate (CAGR) of 5.97% by value and a CAGR of 5.30% by volume up to 2017.
The category is led by Ready Meals which took the highest share of value and volume in 2012. This trend is expected to continue up to 2017. According to Canadean, the share of Ready Meals in the Prepared Meals sector will rise to 62.78% in value and 52.76% in volume respectively up to 2017. A CAGR of 6.07% by value and 5.43% by volume is also predicted.
Pizza comes in second in the Prepared Meals sector but falls far behind with an expected share of 34.46% by value and a CAGR of 6.02% up to 2017. Share of volume is predicted at 42.96%, growing at a CAGR of 5.38%.
The Meal Kits category is the smallest in the sector both by value and volume. The share of value is expected to grow at a CAGR of 3.23% and 2.93% in terms of volume up to 2017. Even with these growth rates, the share of value and volume for the Meal kits category continues to be minimal.
Hypermarkets and Supermarkets are the most popular channels for Prepared Meals
Hypermarkets and Supermarkets have held the majority share for market value by distribution channel up to 2012. This trend is expected to continue up to 2017. Cash & Carries and Warehouse Clubs are also gaining share recently, and have the fastest growth in the sector. Despite this, they fall far behind Hypermarkets and Supermarkets which remain the most popular channel for prepared meals.
