Competitor Strategies in Cooking Ingredients and Meals

The value of the cooking ingredients and meals industry neared USD 500 billion in 2023, with Kraft Heinz, Unilever and Nestlé continuing their lead. This report dives into their key strategies within the industry. It also explores how the wider competitive landscape is leveraging key trends to innovate and stay top of mind in their respective categories and markets.

The Competitor Strategies in 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.

Key Findings

The top three leaders remain, though Unilever unseats Nestlé

Kraft Heinz, Unilever and Nestlé retain their leadership of the cooking ingredients and meals industry globally. However, second position was swapped from Nestlé to Unilever in 2023, benefiting from relatively better performance of sauces, dips and condiments compared to meals and soups.

Legacy/core/power brands continue to be the key strategy for large players

Unilever’s Knorr and Hellmann’s have the advantage of being among the company’s Power 30 brands. Similarly, Maggi was Nestlé’s key growth driver, though the company faced setbacks in the meals market. Other leading companies are also divesting low-performing brands and expanding to fast-growing categories such as within meals and soups.

Strategies of the top three focus on taste, convenience, health and nutrition, and lifestyle adaptation

Major companies have approached cooking and eating from polar ends, ranging between helping consumers prepare delicious meals from scratch, and providing instant meal solutions. Key focus areas, therefore, are in empowering consumers to prepare tasty food, and improving portfolios to ensure greater convenience, a more effective health and wellness positioning, and successful integration with various lifestyle choices.

The wider market sees a surge in plant-based, convenient solutions and premium offerings

Across the cooking ingredients and meals industry globally, there has been a trend towards introducing more plant-based varieties, expanding from dairy and meats. At the same time, escalating demands for convenience have led to a focus on e-commerce and meal kit formats. Players also try to buck the economy-led trend towards trading down with value-added solutions.

Report Scope:

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.