Prepared Meals in Spain Will Continue to See Marginal Growth up to 2017
Spain continues to suffer from the effect of the global economic crisis. Uncertainties surrounding the Euro have further impacted consumer spending. Spanish consumers are now turning to prepared meals, recording the third-fastest growth rate among food sectors between 2012 and 2017. They offer consumers an affordable alternative to eating out. The sector will record a value CAGR (Compound Annual Growth Rate) of 3.4% and volume rate of 4.0%, according to Canadean.
Ready meals account for over half of the prepared meals sector in both value and volume shares, with 51.8% and 58.3%, The category is also forecast to record the highest growth level over the five year forecast period, with a value CAGR of 3.6% to 2017.
Pizza shares for volume and value are 43.5% and 37.9% respectively. It will see a volume CAGR of 3.7% to 2017. Pizza is followed by meal kits, with a share of the sector at 3.1% by value and 4.3% by volume. However, its growth rate is forecast to reach 3.4% value and 4.0% volume.
