The European ready meals market was valued at EUR30.5 billion in 2013, compared with EUR26.7 billion five years earlier, according to Swiss research company Food for Thought (FFT). Retail expenditure takes the predominant 85% share of the market with foodservice expenditure taking the remaining 15% share.
The total market is forecast to grow by 11.84% to reach EUR40.85 billion by 2016.
Frozen and chilled ready meals in 2013 formed the largest market segments of the total European ready meals market, together taking almost three quarters of the market in value terms. Frozen pizza accounted for almost another 14% share of the market, with canned ready meals taking a further 9% and dehydrated ready meals the remaining 4%. Over the five year period chilled ready meals showed the fastest rate of growth.
FFT forecasts that by 2016 the total European chilled ready meals sector will be worth EUR12.7 billion, an increase of 3.7% in real average annual % terms between 2013 and 2016. Frozen pizza will be worth an estimated EUR4.93 billion by 2016 showing 3.4% growth in real average annual % terms. The frozen ready meals sector is forecast to show real average annual % growth rates of 2.6% between 2013 and 2016 to reach EUR12.5 billion. In contrast, canned and dehydrated ready meals will show much lower rates of growth estimated at 1.9% and 1.3% respectively over the three year forecast period.
In 2013, the ready meals sector was dominated by three major countries in terms of overall expenditure: Germany, the UK and France, together accounting for over 60% of the total market. Spain took another 12% market share. All other European countries held under a 4% market share.