Brazil Sees Growth in Prepared Meals as Disposable Income Rises
04 July 2013
Prepared Meals are set to enter the top five Food sectors in Brazil by 2017, according to a report by Canadean.
The Brazilian Prepared Meals sector will see high growth to 2017, with a value Compound Annual Growth Rate (CAGR) of 9.4%, placing the sector in the top five food sectors in the country. Volumes are expected to grow at a CAGR of 7.5% for the same period. This rise in ranking was due in large part to volume increases in Ready Meals and Pizza.
Prepared Meals are expensive for many consumers in Brazil, but rising disposable income amongst lower and middle earners means that the value of the Pizza and Ready Meals markets will each grow at a CAGR of 9.4% to 2017, albeit Ready Meals from a higher share of 58.2% compared to Pizza at 39.8% in 2012. Pizza will show the highest growth in terms of volume, at a CAGR of 7.6%, compared to a CAGR of 7.5% for Ready Meals.
Meal Kits held the lowest share of the sector in 2012, with a value share of 3.7% and volume share of 4.0%. The category will also show the lowest growth over the next five years, with value and volume CAGRs of 8.7% and 7.0% respectively, to 2017.
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