Long Working Days Drive A Rise In The Popularity Of Ready Meals In Japan
15 May 2013
With a value CAGR (Compound Annual Growth Rate) of 4.3% between 2012 and 2017, the Prepared Meals sector ranks in sixth place out of the 15 food sectors in Japan with above average growth. The sector volume CAGR is 2.9% for the same period.
By far, the largest category of the sector is Ready Meals, with value and volume shares of 76.3% and 84.4% respectively for 2012, thanks to the rise in popularity of Chilled Ready Meals and Frozen Ready Meals. The category is showing no sign of slowing down over the next five years, growing ahead of the sector in terms of both value and volume, with CAGRs of 4.7% and 3.3% respectively.
Both Meal Kits and Pizza have not proved to be quite so popular in the Japanese market, with Pizza faring slightly better in 2012, with respective value and volume shares of 18.1% and 7.9% to Meal Kits’ 5.5% and 7.7% value and volume shares for the same year. The two categories will record a value CAGR of 2.7% each and volume CAGR of 1.2% each between 2012 and 2017.
Hypermarkets & Supermarkets lead the gain in share of popular channels in the past few years
A number of channels have gained a share of the Japanese Prepared Meals sector in recent years, with Hypermarkets & Supermarkets ahead of the others, such as Convenience Stores and Department Stores, which have gained equal share to one another in the same period.