The forecast suggests that the retail volume sales of meals and soups in Canada are expected to experience moderate growth over the next five years. As the lingering effects of the pandemic recede, consumer spending is likely to shift away from the food and beverage industry and in-home entertainment, moving towards foodservice, outdoor activities, and travel.
As people return to work, the increasingly hectic lifestyles of consumers are anticipated to drive heightened demand for meal kits. Companies like Hello Fresh, Good Food, and several new start-ups, such as Halalmeals and Inspired Go, are expected to introduce innovative offerings to the market.
The present pace of new product development in the meals and soups sector is projected to persist into the forecast period. Company innovations will be shaped by the rising health consciousness among consumers.
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Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
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Meals and Soups
This is the aggregation of ready meals, pizza, food kits, prepared salads, and soup. Includes: These are products that have had recipe 'skills' added to them by the manufacturer, resulting in a high degree of readiness, completion and convenience. Food kits is an exception where typically the extent of preparation is much shorter than other meal products; includes meal kits where consumers are to put together pre-portioned ingredients and cook with the guidance of recipe cards. Ready meals are generally accepted to be complete meals that require few or no extra ingredients. However, in the case of shelf stable ready meals, the term also encompasses meal 'centres’; for food kits, they do require a degree of cooking and preparation. As such, some meals may require cooking (ready-to-cook); others may simply need reheating, prior to serving (ready-to-eat). Excludes: Any products sold unpackaged and/or by weight, including food sold from a retail deli counter.
See All of Our DefinitionsThis report originates from Passport, our Meals and Soups research and analysis database.
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