Competitor Strategies in Cooking Ingredients and Meals

Delivery

This report comes in PPT.

Key Findings

Major players are keen to secure volume growth as revenues decline despite increasing product prices

In 2024, key players' revenues were influenced by increasing product prices and declining volume sales, driven by weakening consumer demand. To address this and secure growth, key players are focusing on their well-established brands and expanding their consumer base by launching new product lines that cater to diverse needs. For example, Unilever launched a mini meal range under Knorr, targeting busy, young consumers seeking convenience.

Key trends are widely embedded in new product launches

All key players are focused on serving consumers' changing eating habits in light of key trends around health, plant-based options, taste, and the pursuit of value. It is evident that brand owners are tapping into multiple trends rather than just one, leading to the launch of indulgent products with premium elements that remain affordable, eg truffle-based sauce by BeTruffle.

Private label prevails by delivering more than just affordability

Private label continues to be a major competitor to branded products, securing a leading position in various categories, including frozen ready meals, where Nestlé struggles with price competition. While affordability remains a key advantage, private label offerings are increasingly providing additional value, meeting consumer demands for health benefits and enhanced sensory experiences.

E-commerce expands across categories in developed and emerging markets

Driven primarily by meal kits, which are dominated by subscription models in developed markets, e-commerce is becoming an increasingly important channel for brands. Consumers are turning to online platforms for various reasons, including the convenience of easy delivery and the value offered through bulk purchases - particularly in the case of edible oils in emerging markets.