MarketResearch.com, a premiere business intelligence marketplace serving the Fortune 1000, announced today the release of a new study “The U.S. Market For Frozen And Refrigerated Hand-Held Foods,” by Kalorama Information. According to the study, retail sales of hand-held foods for 1999 topped $1.6 billion. Annual sales are expected to grow an average of 7% annually from 2000-2004 with 2004 sales projected at $2.3 billion.
Hand-held foods have become the No. 1 growth segment in the U.S. frozen and refrigerated food market, and are broken down into two categories, entrees and appetizers/snack rolls. In 1999, retail sales for entrees were $1,101 million compared to $533 million for appetizers/snack rolls. Frozen hand-held entrees captured the lead, accounting for 60% of retail sales in 1999 vs. refrigerated entrees at 7%. Frozen appetizers/snack rolls accounted for 32% of dollar sales, up six percentage points from 1995, vs. refrigerated appetizers/snack rolls holding steady at 1%.
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Attention is being paid to consumers ever-changing needs. Price points ranging from under $1 to $10 make hand-held foods an attractive option. “Continual changes in eating patterns will create a demand for user-friendly quick meals and snacks, which will drive the hand-held foods market,” said Claire Madden, VP of Marketing. Organics continue to be the fastest-growing food segment, with sales gains over 50% from 1997 to 1998. Vegetarian offerings across the category are appealing to non-vegetarian consumers who are health conscious. Competition is becoming fierce and innovative ideas for new products and creative marketing strategies are essential for marketers in this arena.
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In the battle for market share, profits and investment dollars, MarketResearch.com is the vital Internet weapon for information seekers. Providing instant access to over 5,500 market research reports from more than 250 content providers, MarketResearch.com allows users free access to its search function and the ability to purchase information in discrete, affordable segments through its proprietary “slice and price” technology. Armed with high-quality information from MarketResearch.com, Fortune 1000 companies are confident in the accuracy of their strategies. Clients include key executives from such leading companies as, Kraft, Chef America, Sara Lee, Nestle and Nabisco. For more information call MarketResearch.com at 800-298-5699 or visit our Web site at www.marketresearch.com.
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