Packaged Facts: Prepared, ready-to-eat foods market expected to rise 7.5%
ROCKVILLE, MD. — Prepared foods and ready-to-eat foods are seeing major gains at retail, especially at supermarkets, according to a new Packaged Facts report.
According to "Prepared Foods and Ready-to-Eat Foods at Retail," sales of such items will reach nearly $32.5 billion this year, up 7.5% from 2011. While sales continue to rise, supermarkets garner the majority of prepared foods purchase visits at 60%, followed by Walmart and convenience stores (15% and 12%, respectively). Packaged Facts noted that the rise of these sales are due to the accessibility to a wide range of household incomes.
The report also cited that "strong, high-quality store-brand portfolios are a significant advantage for prepared foods retailers in keeping the price points of prepared foods down, and part of the winning formula." Packaged Facts called out such retailers as Costco, Kroger, Safeway and Supervalu, all of which continue to grow and leverage their private-label products in conjunction with developing their food service programs.
Click here to access the full report.