Chilled ready meals more popular as consumers opt to stay in

CHILLED ready meals have seen a growth of 10% in retail volume and value as consumers have decided that staying in is the new going out.

Research by Bord Bia has found the market for chilled prepared foods has returned to growth in 2010, with a rise of 3% in volumes recorded as the value of the market rose 2%. Having seen a surprising decline in 2009, home cooking has bounced back over the past 12 months.

Keith Crowe of Bord Bia’s meat division explains: “This was due to strong demand from young professionals and middle income consumers, who have reduced spending due to the economic downturn but still crave a tasty and convenient meal that could be prepared from home.

“Another trend that has helped the recovery in the chilled prepared foods market has been the increasing focus on healthy dietary and lifestyle habits in Ireland according to Euromonitor,” he said.

“This was particularly evident in the growth recorded in sales of prepared salad and fresh cut fruits. Transparent packaging also boosted demand as it enabled consumers to see the contents of the product before purchasing, increasing appeal on crowed retail shelves,” said Mr Crowe.

A recent report on Ireland by Euromonitor International showed the recovery in the domestic market was partly fuelled by discounting and promotional pricing. That said, Bord Bia’s Periscope research showed that the home-cooking products market has also benefited hugely from consumers looking for alternatives to dining out.

Respondents to the Periscope said they were doing their best to make ‘eating in’ feel more like ‘eating out’. Keys to this were: cooking from scratch (57%); to more courses (starter/dessert); a bottle of wine; more care with meat and fish; takeaway; candles; music; experimenting with new food; aperitif; gourmet shopping for special ingredients; and meal deals from supermarkets (21%).

The Periscope study also found consumers are seeking to buy local, are more interested in organic food, eating more vegetables, drinking more healthy juices and cooking more at home.

Euromonitor suggest demand for chilled processed food products will remain steady among middle income consumers and busy young professionals. Overall, the market is expected to grow at a compound annual growth rate of 2%.