US Prepared Meals Market Report 2024

Market Intelligence Reports Food Ready Meals US

Gain fresh consumer-led insights into the US prepared meals market. What trends are driving innovations in the ready meals market? How are consumer attitudes towards prepared meals changing? Answer these questions and more with this comprehensive market report.

This Report Looks at the Following Areas:

Analysis of sales and market share trends in key segments
Trends in prepared meals, new products and innovation
Consumer interest in prepared meal product concepts
Consumer attitudes and behaviors toward prepared meals

US Prepared Meals Market Landscape

After the disruption of the pandemic and spiking inflation, prepared meals sales growth has at least temporarily ground to a halt, but the category is projected to return to its long-term slow growth track. The refrigerated meals segment stands out as an exception, with expanded variety and perceptions of freshness helping to drive strong growth.

US Ready Meals Market Trends – How to drive growth in the category

Convenience is key

Convenience is inherent to the category and a key driver of usage, but marketers looking to accelerate growth should look to other factors, including cuisine exploration beyond the category’s core of traditional comfort foods, customizability, preparation methods that move beyond the microwave, and a tighter relationship with fresh foods from the perimeter.

Counter processed food concerns

Marketers must also work to counter the general perception that prepared meals are too processed and not as healthful as home cooking. With an emphasis on clean labels and the right ingredients and nutrients, brands can cater to consumers who are committed to making dietary or lifestyle changes but are short on time or cooking skill.

Purchase the full report for a complete analysis of the US prepared meals market, including market dynamics and consumer insights. Readers of this report may also be interested in Mintel’s A Year of Innovation in Prepared Meals and Meal Kits.

More About this Report

For the purposes of this report, prepared meals are defined as complete meals or entrées that are precooked and frozen or refrigerated. These meals usually include a side dish and require minimal preparation or cooking time. The primary segments in prepared meals include the following:

Single-serve frozen meals
Multi-serve frozen meals
Refrigerated meals
Frozen and refrigerated side dishes
Shelf-stable meals

Meet The Expert

This report is written by John Owen, Associate Director – Food and Retail at Mintel. John provides in-depth analysis and insight across a variety of categories, including household and home care, health and wellness, food and beverages, and consumer lifestyles. He brings extensive experience in advertising and shopper marketing, most of it with Saatchi & Saatchi.

Convenience defines the category, but increasingly, users expect more. Great taste, new cuisines and healthfulness are avenues for growth.

John Owen
Associate Director – Food and Retail

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Executive Summary
- What you need to know
- Consumer trends: key takeaways
- Market size & forecast
- Market predictions
- Opportunities
Market Dynamics
- Market context
- Market drivers
- Consumers remain uneasy about their finances, motivating many to look for ways to save on food
- Little improvement in consumers’ view of their personal finances
- Graph 1: assessment of personal financial situation, 2021-24
- Market size and forecast
- Dollar sales turn negative, at least temporarily, as volume eases back to pre-pandemic levels
- Retail sales and forecast of prepared meals
- Market segmentation
- Single-serve frozen meals lead diverse category
- Graph 2: segment share of total prepared meals retail sales, 2024
- Refrigerated products, well-aligned with shopper needs and retailer promises, outpace frozen and shelf-stable
- Retail sales of prepared meals, by segment
- Graph 3: total retail sales of prepared meals, by segment, 2019-24
- Retail sales of prepared meals, by segment
- Market share/brand share
- Private label continues to gain as big competitors slip
- Sales of prepared meals, by company
- Big brands slip in single-serve frozen meals segment
- Sales and share of single-serve frozen meals
- Private label advances in multi-serve frozen meals
- Sales and share of multi-serve frozen meals
- Cuisine variety helps boost share in refrigerated meal segment
- Expanding the scope of the refrigerated meals segment
- Sales and share of refrigerated meals
- Retailers continue to grow share in refrigerated sides
- Sales and share of side dishes
- Conagra leverages restaurant tie-in to extend lead in shelf-stable meals
- Sales and share of shelf-stable meals
Consumer Insights
- The prepared meals consumer: fast facts
- Consumption of prepared meals
- Usage at type level has room for growth
- Graph 4: consumption of prepared meals, 2024
- Encourage use of multiple types in larger households
- Graph 5: consumption of prepared meals – any consumption, 2024
- An opportunity to gear portioning to the largest households
- Graph 6: consumption of prepared meals – any consumption, by household size, 2024
- Change in prepared meal consumption
- A skew to increased consumption, especially among younger consumers
- Graph 7: change in prepared meal consumption compared to a year ago, by age, 2024
- Convenience, savings and health can motivate increased consumption
- Graph 8: reasons for increasing consumption of prepared meals and sides, by age, 2024
- High prices factor into cutbacks in consumption
- Graph 9: reasons for decreasing consumption of prepared meals and sides, by age, 2024
- Correspondence analysis: meal prep option attribute associations
- Home cooking stands apart on most key attributes, pointing to opportunity for collaboration
- Meal prep option associations by type
- Correspondence analysis: how to read
- Prepared meals shopping behaviors
- Cater to younger shoppers’ interest in new varieties
- Graph 10: prepared meals shopping behaviors, by age, 2024
- An opportunity for budget-friendly cuisine exploration
- Graph 11: prepared meals shopping behaviors, by personal financial situation, 2024
- Interest in prepared meal concepts
- Non-microwave options bring the category a little closer to fresh
- Graph 12: interest in prepared meal concepts, 2024
- An opportunity to extend the category beyond traditional comfort foods
- Graph 13: interest in prepared meal concepts, by age, 2024
- Attitudes toward prepared meals
- An opportunity for more healthy options, especially among older consumers
- Graph 14: attitudes toward prepared meals – healthfulness, by age, 2024
- Cuisine exploration and creativity can help drive category engagement
- Graph 15: attitudes toward prepared meals – taste and variety, by age, 2024
- Value can take on different meanings in the prepared meals category, depending on the audience
- Graph 16: attitudes toward prepared meals – affordability, by personal financial situation, 2024
Innovation and Marketing Trends
- Launch activity and innovation
- Clean-label claim launches
- Notable clean label launches
- Ethical/sustainability claim trends
- Notable ethical/sustainability launches
- Plant-based and related claim trends
- Notable plant-based launches
- Nestlé line designed to complement weight management drugs could help shield category from declines
- Opportunities
- Transform the prepared meals aisle into a destination for cuisine exploration
- New brands expand cuisine variety
- Align prepared meals more closely with home cooking
- Help Gen X step into healthy aging
- A positive approach to longevity
Appendix
- Market definition
- Consumer research methodology
- Generations
- Abbreviations and terms
- Forecast methodology
- Forecast fan chart methodology
- Sales and forecast of prepared meals at inflation-adjusted prices
- Sales and forecast of single-serve frozen meals at current prices
- Sales and forecast of single-serve frozen meals at inflation-adjusted prices
- Sales and forecast of multi-serve frozen meals at current prices
- Sales and forecast of multi-serve frozen meals at inflation-adjusted prices
- Sales and forecast of refrigerated meals at current prices
- Sales and forecast of refrigerated meals at inflation-adjusted prices
- Sales and forecast of side dishes at current prices
- Sales and forecast of side dishes at inflation-adjusted prices
- Sales and forecast of shelf-stable meals at current prices
- Sales and forecast of shelf-stable meals at inflation-adjusted prices
- Sales of prepared meals by channel at current prices

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