Prepared Meals to See Steady Growth

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Over the next five years, the prepared meals sector in Canada is expected to gain value share and volume, with its compound annual growth rate (CAGR) forecast at 2.2 per cent and CAGR volume at 1.7 per cent, according to global research company Canadean.

Last year, ready meals took the top spot in value share at 71.5-per-cent, and 61.2-per-cent volume share, followed by pizza, with 19.2-per-cent value share and 28.5-per-cent volume share. Meal kits came in last at 9.3-per-cent value share and 10.3-per-cent volume share.

Over the next five years, ready meals is forecast to continue to dominate the prepared meals sector, with a CAGR value at 2.4 per cent, followed by pizza at two per cent and meal kits at 1.6 per cent.

Hypermarkets (a combination superstore and department store) and supermarkets are the top distribution channel for prepared meals, followed by convenience stores, food-and-drink specialists, cash and carries, warehouse clubs, dollar stores, variety stores and general merchandise retailers.

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