Older consumers are driving the prepared meal market in Europe, according to a new report by independent market analyst Datamonitor.
Go deeper with GlobalData
In 2004, seniors (55+) accounted for 26% of the value of the region’s €11.1bn (US$13.4bn) ready meal market, according to the research report, Ready Meals in Europe. “An increasing number of seniors in Europe live alone, as such the idea of cooking from scratch for one is generally unappealing” said Daniel Bone, consumer markets analyst at Datamonitor.
“This together with the trend towards phased retirement and seniors having to work later in life is fuelling older consumers’ spend on ready meals. Just like twenty and thirty-somethings, older consumers are constantly seeking out ways to maximize their limited leisure time” he said. Those in the 25-34 age category and mid-lifers (35-44) who are generally thought of as the most likely group to spend more on ready meals only accounted for 19% and 22% of total spend on ready meals in Europe respectively.
Datamonitor’s consumergraphics database reveals that French seniors are Europe’s biggest spenders on ready meals (€847million, accounting for 25.2% of total spend), followed by the British (€778 million, accounting for 26.5% of spend), Germans (€677 million, accounting for 27.4% of spend) and Swedes (€220 million, accounting for 29.7% of spend). The proportion of spend by seniors in the Dutch market is the lowest of the 7 countries (€130 million, accounting for 24% of the ready meal market).
When it comes to positioning time saving meal solutions manufacturers must be sensitive to an accentuated level of cooking pride. “Manufacturers need to be aware that they must offer the older consumer a sense of pride in feeling there was some skill in preparing the meal”, said Bone.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe sensory benefits of prepared meals also play an important part in appealing to older consumers who are more likely to judge a ready meal against more authentic meals prepared from scratch.
In the 3 biggest ready meal markets of France, UK and Germany urban consumption accounts for 80%, 92% and 91% of market values respectively. “In the same three countries male consumption accounts for 57% of market value suggesting that males are slightly more in need of a little help in the kitchen,” says Bone.
As for future developments Datamonitor believes that despite frozen meals dominating the market in every country but the UK, consumption of chilled meals will grow the fastest. “Chilled meals have grown in popularity as they are perceived to have improved sensory benefits, use better quality and fresher ingredients and contain fewer additives than frozen meals”, said Bone.
