World Market for Cooking Ingredients and Meals

Cooking ingredients and meals has experienced turbulent times, with inflationary pressures and changing working environments in the post-pandemic world causing both channel and category shifts. Consumers are changing their cooking and eating habits, requiring companies to adapt and provide innovations. Focusing on sustainable and health-focused solutions is expected to generate growth over the forecast period, while the premium segment is expected to bring excitement to the market.

Key Findings

Plant-based options are becoming more prevalent in cooking ingredients and meals categories

Plant-based options were historically scarce across cooking ingredients and meals categories but have been expanding in global markets. Trust in labels like “vegan” has grown significantly over the last few years, as exposure increases. While plant-focused diets are gaining popularity, products with such claims have low penetration, leaving room for new entries focusing on familiar tastes and ease of use.

Health features are pivotal in the industry and are entering even the most indulgent categories

Demand for cooking ingredients and meals with more nutritious ingredients continues to rise. Health claims linked to reduced sugar, gluten-free and lactose-free options have experienced substantial growth in the industry. In the case of sweet spreads, which are often seen as unhealthy, demand for lower sugar content and added fibre or protein has been on the rise. Permissible indulgence will drive the development of product variations with improved recipes and catering to various dietary needs.

Premiumisation through flavour, experience and convenience is set to drive industry growth

Over 2022-2023, global economies went through turbulent times, with many households having to cut their expenditure on non-essential items. Despite the cost-of-living crisis, premiumisation continues to rise, as many consumers still want high-quality, gourmet products that also provide the convenience of easy meal preparation. Focusing on improving the overall experience of products like ready meals or sauces will remain important.

Sustainable product solutions are gaining in importance, and claims are becoming more diversified

Consumers are increasingly focused on sustainability and their impact on the environment. Organic has been at the forefront of providing a “greener” choice when shopping, but other sustainable sourcing claims are gaining interest, too. The cooking ingredients and meals industry, with its diverse product range and wide variety of ingredient sources, is expected to see a rise in products with sustainable sourcing claims focusing not only on agriculture but fisheries, forestry and packaging.

New retail solutions catering to consumer needs are gaining attention

New retail solutions are taking ready meal convenience to the next level. Choice is becoming more important for consumers, and pure ready meal stores can provide this, while also gathering feedback direct from consumers. Unconventional working hours often limit food choices, thus vending machines are a promising way to expand purchasing occasions for ready meals. More retail solutions offering convenience are expected to be seen over the forecast period.

The World Market for Cooking Ingredients and Meals global briefing provides a comprehensive overview of the Cooking Ingredients and Meals market, providing insight on sales and market potential, retail distribution and company and brand shares. Analysis identifies emerging geographies alongside growth opportunities in the most developed, highest value countries. It also offers strategic analysis of the key trends shaping the industry and consumer demand, such as health and wellness, sustainability, the evolution of eating occasions, in addition to ongoing considerations of convenience and value-for-money in the post-pandemic world. Insight into how these trends are shaping demand informs forecasts to 2028, clearly indicating how the market is expected to change.

Product coverage: Edible Oils, Meals and Soups, Sauces, Dips and Condiments, Sweet Spreads.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

• Get a detailed picture of the Cooking Ingredients and Meals market
• Pinpoint growth sectors and identify factors driving change
• Understand the competitive environment, the market’s major players and leading brands
• Use five-year forecasts to assess how the market is predicted to develop.