NEW YORK -- Total sales in the combined supermarket/restaurant home-meal replacement market will surpass $85 billion by the end of 1997, and will surge past $109 billion by 2002, according to projections made in a recently released report on the category.
$13.7 billion for 1997, will reach nearly $22 billion by 2002, according to the report.
By then, the annual growth rate in supermarket prepared-food sales of about 10% will bring the supermarket industry's share to almost 20% of the estimated total sales in the takeout/HMR category, predicted FIND/SVP.
Restaurants, which in 1997 will account for about $71.5 billion of takeout/HMR sales, or 84% of the market, will continue to dominate the category through 2002. The industry's share of the business, though, will grow at a slower annual rate of 4.4%, FIND/SVP estimated.
The total HMR market is expected to log a 5.4% compound annual growth rate from 1998 to 2002, according to the report.