Market Trends of Europe Ready Meals Industry
Growing Demand for Convenient and Healthy Ready Meals
- Due to changes in social and economic patterns and increased expenditure on food and beverage, awareness about healthy foods, changes in meal patterns and existing food habits, increasing settlement of the ex-pat population across the region, and the desire to try new products, the demand for convenient and instant food, particularly ready meals, is growing at a faster rate in Europe.
- Manufacturers are offering target-oriented ready meal food products, such as ones with functional claims, based on the functional ingredient, and which can be easily cooked both in microwave and pan as per the convenience of consumers. Hence, companies like Fjordland have been selling items like the Windows to Series of ready-to-eat Fjordland Mini Oat Lunch in a variety of tastes. Both a microwave and a pan can be used to cook these food items.
- Furthermore, the notion of on-the-go cuisine is intimately linked to the ease of consumption and handling of items that ready meals may provide. As a result, demand for ready meals is rising due to the associated convenience of consumption, supported by throwaway packaging. Owing to the above factors the players operating in the market studied have been using various strategies to expand in the market using various corporate strategies.
- For instance, in 2021, Bell Food Group, through its Hilcona AG subsidiary, reached an agreement to acquire the Aryzta Switzerland sandwich business. Through this transaction, Bell Food Group announced its plans to acquire Aryzta's sandwich production plant in Schlieren, Switzerland. After the acquisition, Hilcona revealed its plans to further expand its market position in the growth area of sandwiches that are freshly prepared every day.
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Organic and Sustainable Ready Meals are Gaining Popularity
- Organic food and farming have grown y-o-y in the European Union over the previous three decades and continue to do so. The organic market in the European Union is quite dynamic, with different growth rates in different countries. Both production and consumption are influenced positively by policies. The demand for eating healthy, organic ready meals is a new trend in the European market.
- Health-conscious people generally see ready meals as unhealthy. However, due to continuous product innovations by old players and startups, this scenario is changing, and health-conscious people with busy lifestyles are becoming a major consumer base for organic ready meals.
- People relate more to purpose-driven brands. Companies are constantly working to make their products sustainable in the ready meals segment. Huhtamaki Fresh, a recyclable and biodegradable food tray produced from FSC-certified and renewable Nordic wood is one such invention. It is a natural alternative to meal trays made of black plastic. Such solutions play a critical role in ensuring the long-term viability of ready meals.
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