According to insight agency Pragma, the arrival of premium brands (such as Cook and Charlie Bigham’s) has catapulted the sector and sheds light on changing consumer behaviour.
Claiming specialist brands have ‘succeeded in penetrating a market so saturated by own-label,’ Pragma suggests this is because they have distanced themselves from the ‘quick, cheap, guilty pleasure’ approach.
Instead, they offer:
Ease over speed: Rather than focussing on the quick, `ready in 3 minutes' approach, premium brands focus on providing home cooked meals without the stress (most take 30+ mins to cook).
Each comes with an explanation of how it was made, just like you would at home.
Transparency in ingredients
Consumers are increasingly demanding more transparency over the food they are consuming. These brands focus on `real' food, with none of the additives often associated with own-label ready meals.
Value, not cheap
Premium products often cost £2+ more than their own-label counterparts. However, their success shows that customers are ready to pay a premium for superior quality and taste.
That said, the market is heavily dominated by meat-based products and there is a distinct lack of vegan and sustainable brands. Given the macro-trends towards healthier eating and reductions in meat consumption, this is likely to represent a significant growth opportunity for the category in future.