Industry Analysis & Industry Trends
Increased demand for convenient prepared meals, increased health and nutrition awareness, increased significance of branding, and greater competition from private labels largely influenced the industry over the past five years. These factors had varying effects on industry revenue, which grew at an annualized rate of 2.0% over the five years through 2011. This year, total revenue globally is expected to grow 3.8% to reach $158.1 billion.
The availability of inputs like fresh fruit and vegetables, packaging materials, and the extent of the manufacturing sector's development determined the geographic spread of the industry. The value of production in different countries also depends on the price level and costs of inputs in that particular country... read more
Industry SWOT Analysis
The industry is set to move from a mature to declining phase of its life cycle. Industry ownership has not changed; a large proportion of these industry operators are American owned. Industry value added will have grown at an average annual rate of 3.0% over the ten years to 2011, compared to average real GDP growth of 5.5% during the same period. Future growth however, will be far more in line with the respective economies. The products are wholly accepted by consumers, with seemingly less scope to diversify the product range. For example, the industry has introduced new products like flavors and colors for sauces, ketchup and soups along with organic products. However, most groupings are clearly segmented... read more