Ready Meals Market Pestel & Swot Essay
The market of ready meals has grown remarkably in the recent years. Previously perceived as non-healthy and an indulgence, it has adapted to changing consumer demands and lifestyles.
This report will give an overview of how changes in the macro-environment influenced the sales of ready meals and the factors that might affect sales in the UK over the next five years.
The growth of the ready meals market over the years.
In 2007, the research company Mintel reported that the ready meals market within the five largest European Countries (UK, France, Germany, Italy and Spain) increased by 5% between 2006 and 2007, reaching a total sales value of €8.4 billion. A growth of 18% to reach the €10 billion mark by 2011 was also …show more content…
• Reduction in water used during production.
• Reduction in transport miles (product transportation).
• Sourcing of supplies from sustainable sources.
Legal factors: Several legal factors have affected the ready meals market over the recent years. There are new legislations in place towards the ready meals or food industry in general such as:
• Food labelling: The FSA (Food Standards Agency) has recommended that food manufacturers should use a “traffic light” label to help consumers make their choice. Red represents high level of ingredients such as fats and salts, and green represents low levels.
• Legislation on the amount of salt or saturate fats a ready meal should contain.
• Recycling: The government encourages ready meals manufacturers to recycle a lot more.
The SWOT Analysis will determine the internal factors (Strengths and Weaknesses) and the external factors (Opportunities and Threats), which are favourable or unfavourable to the growth of the ready meals market.
Strengths: These are the internal factors that helped the growth of the ready meals market.
• Increasing growth: The ready meals market has had a steady growth over the years and will certainly be growing over the next few years. It was predicted that the ready meal market would reach the €10 billion mark by 2011.
• Range of products: There is a wide range of ready meals products such as ethnic meals (Chinese, Indian…) and