2023 is offering a more promising outlook for cooking ingredients and meals in Georgia than was seen in 2022, when the industry suffered from soaring costs across packaging, raw materials, and logistics. A standout in this scenario is the edible oils category, which, after experiencing a steep price hike the previous year, has not only seen a deceleration in price increases but also a notable decline, hinting at a stabilising market.
Across all categories there is robust volume growth in 2023, with chilled ready meals and prepared salads seeing demand rise rapidly and sales fuelled by an urbanised population with a desire for convenience. The expansion of chilled ready meals has been greatly facilitated by the introduction and wide adoption of delivery applications such as Glovo and Wolt, making an array of prepared foods readily accessible.
The overall competitive landscape in 2023 shows little change from that of the previous year, with stalwarts such as Geostar Ltd, Efko Feinsaure Konserven GmbH & Co KG, Marneuli Food Factory Ltd, Nikora JSC, and Ferrero SpA retaining their strength in cooking ingredients and meals marketplace through robust distribution in both traditional and modern retail outlets.
The momentum towards modern retail continues unhampered, with supermarkets and convenience stores leading the charge. E-Commerce remains on an upward trajectory, bolstered by the integration of applications like Glovo and Wolt into the retail strategies of heavyweights such as Carrefour and Nikora.
Positive growth in terms of volumes sales is forecast for all categories withing cooking ingredients and meals. The preference for economy brands and private label products is likely to intensify as consumers remain cost-conscious.
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Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in Georgia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Cooking Ingredients and Meals industry in Georgia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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