Meals and Soups in Asia Pacific

December 2022

Growth in meals and soups spiked in 2020, when consumers were looking for easy meal solutions during the long periods they were spending at home due to the pandemic. Further healthy growth rates were also seen in 2021 and 2022, even as many consumers in the region were returning to the office. For some, the return to the office has been only partial, given the increase in hybrid working, while China was seeing ongoing lockdowns in the face of spiking new case numbers due to the Omicron variant.

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This report comes in PPT.

Key findings

Chilled ready meals benefit from Japanese consumers returning to their offices

Chilled ready meals, a favourite lunch for many office workers in Japan, recorded strong growth in 2022, with people returning to the office rather than working from home, as the authorities finally began lifting the COVID-19 restrictions. This was helping drive the overall regional market, given the size of Japanese chilled ready meals sales, but dried ready meals and quick recipe kits were also continuing to see dynamic growth, with consumers attracted by the convenience offered by these products.

Self-heating cans – the height of convenience!

Offering the ultimate in convenience, some shelf stable soups now come in self-heating packaging. Guangzhou Restaurant in China offers four kinds of canned soup where the consumer can simply twist the bottom of the packaging to activate the self-heating device, and the soup is heated and ready to eat within eight minutes.

E-commerce continues gaining share

Although e-commerce still only accounts for a very small share of sales in the region’s biggest market of Japan, elsewhere this channel accounts for almost a quarter of meals and soups sales. In China, for example, where the increasing penetration of hyper-local delivery is contributing to its growth, with hypermarkets and supermarkets cooperating with food delivery platforms such as Meituan.com and Ele.me in order to make up for losses through store-based sales during the pandemic.

Positive growth expected over 2022-2027

Healthy growth rates are expected for meals and soups in Asia Pacific over the forecast period in real value terms, albeit gradually slowing year on year. While chilled ready meals will continue to dominate sales in Japan, frozen ready meals still lead in China. Among the most dynamic products will be quick recipe kits, with consumers without the skills or confidence to cook from scratch keen to try these products that help them to produce meals themselves.

Scope
Key findings
Asia Pacific seeing strong growth in its meals and soups market
Positive growth expected for Asia Pacific throughout the 2017-2027 period
Chilled ready meals lead in Japan, frozen ready meals in China
South Korean meal kits seeing particularly strong growth
Ready meals continue to dominate meals and soups sales…
…but food kits the most dynamic category
E-commerce continuing to gain share in meals and soups…
…but supermarkets/hypermarkets dominate retail distribution in Asia Pacific
Fragmented competitive landscape for meals and soups at a regional level
Generics enjoy great popularity in chilled ready meals in Japan
Bias towards Japan and China as the main revenue generators in Asia Pacific
Bibigo moves up the top 10 brand rankings in 2017-2022
Positive but gradually slowing growth expected over the 2022-2027 period
Players launching plant-based products in Japan
China: Market Context
China: Competitive and Retail Landscape
Hong Kong, China: Market Context
Hong Kong, China: Competitive and Retail Landscape
India: Market Context
India: Competitive and Retail Landscape
Indonesia: Market Context
Indonesia: Competitive and Retail Landscape
Japan: Market Context
Japan: Competitive and Retail Landscape
Malaysia: Market Context
Malaysia: Competitive and Retail Landscape
Pakistan: Market Context
Pakistan: Competitive and Retail Landscape
Philippines: Market Context
Philippines: Competitive and Retail Landscape
Singapore: Market Context
Singapore: Competitive and Retail Landscape
South Korea: Market Context
South Korea: Competitive and Retail Landscape
Taiwan: Market Context
Taiwan: Competitive and Retail Landscape
Thailand: Market Context
Thailand: Competitive and Retail Landscape
Vietnam: Market Context
Vietnam: Competitive and Retail Landscape
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