The Chinese ready meals market

Despite a weak global economy, the prepared meals sector in China is expected to grow rapidly up to 2017. According to market research company Canadean, prepared meals is ranked amongst the top 10 food sectors in China, with a compound annual growth rate (CAGR) of 10.3% by value for the forecast period 2012-2017. Volume is projected to grow at a CAGR of 7.4% for the same period.

The category is led by ready meals, which took the highest share of value (93.4%) and volume (93.8%) in 2012. This trend is expected to continue up to 2017. However, the category will show the slowest rate of growth over the next five years, with a projected CAGR of 7.3% by value and 10.3% by volume up to 2017.

Increasing westernisation of food and drink products in China has helped pizza become the fastest growing category of the prepared meals sector, with a value and volume CAGR of 11.2% and 8.1% respectively up to 2017.

Hypermarkets and supermarkets have held the majority share of distribution channel for prepared meals up to 2012. This trend is expected to continue till 2017. Convenience stores have increased their share of the sector and are growing in popularity at the same rate as hypermarkets and supermarkets. Food and drink specialists have also gained a smaller share of the sector in the same period.

The Canadean report, The future of the prepared meals market in China to 2017, was published in July 2013.