Prepared Dishes and Meal Market

The article discusses the growth of the global market for prepared dishes and meals, highlighting key trends such as consumption patterns, production levels, import and export statistics. It provides valuable data on the leading countries in terms of consumption, production, imports, and exports, along with insights on average prices and growth rates in the market.

Market Forecast

Driven by increasing demand for prepared dishes and meals worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +4.3% for the period from 2022 to 2030, which is projected to bring the market volume to 60M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.2% for the period from 2022 to 2030, which is projected to bring the market value to $367.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Prepared Dishes and Meals

In 2022, after ten years of growth, there was decline in consumption of prepared dishes and meals, when its volume decreased by -2.8% to 43M tons. Overall, the total consumption indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +69.0% against 2012 indices. Global consumption peaked at 44M tons in 2021, and then shrank in the following year.

The global prepared dishes and meal market revenue shrank to $226.9B in 2022, stabilizing at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +73.7% against 2012 indices. Over the period under review, the global market reached the maximum level at $229.1B in 2021, and then fell in the following year.

Consumption By Country

China (9.2M tons) remains the largest prepared dishes and meal consuming country worldwide, accounting for 21% of total volume. Moreover, prepared dishes and meal consumption in China exceeded the figures recorded by the second-largest consumer, the United States (4.1M tons), twofold. The third position in this ranking was held by India (3.7M tons), with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume in China stood at +7.0%. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (+7.6% per year) and India (+6.1% per year).

In value terms, Japan ($44.8B), the United States ($34.7B) and China ($33.5B) appeared to be the countries with the highest levels of market value in 2022, together accounting for 50% of the global market. India, Brazil, the UK, Germany, Canada, Turkey, Pakistan, South Korea, Indonesia and Austria lagged somewhat behind, together accounting for a further 26%.

In terms of the main consuming countries, Austria, with a CAGR of +18.8%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of prepared dishes and meal per capita consumption was registered in Austria (157 kg per person), followed by Canada (22 kg per person), Germany (22 kg per person) and the UK (15 kg per person), while the world average per capita consumption of prepared dishes and meal was estimated at 5.4 kg per person.

From 2012 to 2022, the average annual rate of growth in terms of the prepared dishes and meal per capita consumption in Austria stood at +20.7%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Canada (+3.3% per year) and Germany (+5.2% per year).

Production

World Production of Prepared Dishes and Meals

In 2022, production of prepared dishes and meals decreased by -2.2% to 43M tons for the first time since 2011, thus ending a ten-year rising trend. In general, the total production indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +70.1% against 2012 indices. The growth pace was the most rapid in 2014 with an increase of 13%. Over the period under review, global production reached the peak volume at 44M tons in 2021, and then contracted modestly in the following year.

In value terms, prepared dishes and meal production shrank to $209.7B in 2022 estimated in export price. Overall, the total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +77.7% against 2012 indices. The most prominent rate of growth was recorded in 2016 with an increase of 14%. Over the period under review, global production hit record highs at $212.1B in 2021, and then declined in the following year.

Production By Country

China (9.4M tons) constituted the country with the largest volume of prepared dishes and meal production, comprising approx. 22% of total volume. Moreover, prepared dishes and meal production in China exceeded the figures recorded by the second-largest producer, the United States (3.9M tons), twofold. The third position in this ranking was held by India (3.8M tons), with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to +6.8%. The remaining producing countries recorded the following average annual rates of production growth: the United States (+5.4% per year) and India (+6.3% per year).

Imports

World Imports of Prepared Dishes and Meals

For the eleventh consecutive year, the global market recorded growth in overseas purchases of prepared dishes and meals, which increased by 1.3% to 9.8M tons in 2022. The total import volume increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when imports increased by 9.3% against the previous year. Over the period under review, global imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, prepared dishes and meal imports reached $56.7B in 2022. In general, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.5% against 2015 indices. The pace of growth appeared the most rapid in 2018 with an increase of 18% against the previous year. Global imports peaked in 2022 and are likely to continue growth in years to come.

Imports By Country

In 2022, the United States (833K tons), followed by Germany (502K tons) and the Netherlands (445K tons) represented the key importers of prepared dishes and meals, together constituting 18% of total imports. South Korea (429K tons), the UK (419K tons), China (388K tons), Japan (379K tons), Canada (308K tons), France (307K tons), Belgium (240K tons), Australia (230K tons), Malaysia (223K tons) and the Philippines (214K tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of +15.6%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($7.9B), China ($4.7B) and Germany ($2.3B) constituted the countries with the highest levels of imports in 2022, with a combined 26% share of global imports.

China, with a CAGR of +20.6%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average prepared dishes and meal import price amounted to $5,762 per ton, rising by 1.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 7.7%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($12,130 per ton), while Japan ($2,584 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Prepared Dishes and Meals

In 2022, global exports of prepared dishes and meals reached 9.6M tons, with an increase of 4.6% compared with the previous year's figure. The total export volume increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 9.4%. Over the period under review, the global exports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, prepared dishes and meal exports expanded modestly to $55B in 2022. In general, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +73.2% against 2015 indices. The growth pace was the most rapid in 2018 when exports increased by 16% against the previous year. Over the period under review, the global exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports By Country

The shipments of the five major exporters of prepared dishes and meals, namely the Netherlands, Germany, Thailand, the United States and China, represented more than third of total export. France (381K tons), Belgium (367K tons), Singapore (339K tons), Indonesia (331K tons), Italy (328K tons), Malaysia (328K tons), Poland (311K tons) and Canada (270K tons) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +14.7%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Singapore ($6.8B), the United States ($6.1B) and Germany ($4.8B) appeared to be the countries with the highest levels of exports in 2022, together comprising 32% of global exports.

In terms of the main exporting countries, Singapore, with a CAGR of +31.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average prepared dishes and meal export price stood at $5,707 per ton in 2022, stabilizing at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2018 when the average export price increased by 10%. The global export price peaked at $5,770 per ton in 2021, and then shrank slightly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($20,079 per ton), while Thailand ($1,865 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+16.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform