The Australia Ready-To-Eat Food Market is witnessing a remarkable growth trajectory and presents a favourable assessment. It is projected to witness a CAGR of 4.25% during the forecast period 2023-2030 to reach a value of USD 2.12 billion by 2030 from an estimated USD 1.52 billion in 2022.
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The Australia Ready-To-Eat Food Market is witnessing a remarkable growth trajectory and presents a favourable assessment. It is projected to witness a CAGR of 4.25% during the forecast period 2023-2030 to reach a value of USD 2.12 billion by 2030 from an estimated USD 1.52 billion in 2022. A lack of cooking skills, the increasingly hectic lives of young professionals and families, and a desire for healthier alternatives to frozen food all contribute to the explosive growth of ready-meal sales in Australia. Ready meals are pre-cooked and only need to be heated through before serving, occasionally with the addition of pasta or rice that needs to be made separately, in contrast to meal kits, which call for the cutting and cooking of given components. Some new businesses, including Lite n Easy and YouFoodz, offer frozen or even merely chilled meals prepared in advance by chefs and delivered right to clients' doors. Embracing the craze, supermarkets now provide a vast array of ready-to-eat meals.
Additionally, the growing presence of multinational food companies and the development of innovative products have significantly influenced the ready-to-eat food market. These companies invest in research and development to offer healthier, higher-quality options with improved taste and nutritional value. Such advancements attract health-conscious consumers who are increasingly seeking nutritious ready-to-eat meals. Moreover, the COVID-19 pandemic has further accelerated the demand for ready-to-eat food, leading to changes in consumer behaviour and an increased emphasis on hygiene and safety. Consumers seek reliable and trustworthy food options, and ready-to-eat meals provide a convenient and secure choice.
Surge in Demand for Healthy Convenience Food
An Australian, on average, spends 32% of his weekly food budget on fast food, according to a study. Australians are beginning to pay more attention to the snacks they eat. Plant-based diets are growing in acceptance due to environmental, moral, and health concerns. Although the movement for a plant-based diet is not constrained by age or any other demographics, the millennial generation is largely to acknowledge for this change. Adopting this type of diet can have a positive impact on almost anyone's health. Likewise, marketers are introducing healthy products like "Prepared Muesli and Oats" with ease, which enables customers to have a balanced meal without violating their dietary requirements. Another acknowledged variable influencing the Australia ready-to-eat food industry is the expanding number of students, graduates, and working professionals, together with busy lifestyles and stressful schedules. Food quality is a concern for younger generations of consumers who are willing to pay a little bit more if it means receiving the best quality without compromising their health. Moreover, increasing trends of veganism in the country is also propelling market growth and companies are constantly involved in introducing product range to meet the growing consumer demand for healthier food options.
Increasing Women Workforce
Women's participation in paid work has significantly increased over the past many years. In Australia, over the last four decades, Australia's active workforce has undergone substantial transformations in its composition. Notably, there has been a significant rise in women's employment rates, who accounted for 48% of the total workforce in 2022, in contrast to 36% in 1979. They are not only engaging in paid work at far higher rates than in the past, but they are also working longer hours. In addition to boosting economic development, productivity, and income during the past few decades, the rise of women in the workforce has significantly altered the nation's eating habits. The popularity of ready-to-eat meal delivery services like Meatsmith and Lean Cuisine has undoubtedly fueled this tendency. Coles and Woolworths, two of the largest supermarket chains, also offer ready meals under their brands.
Increasing Number of School Admissions Along with Growing Influx of Foreign Internationals
The consumption of ready meals is prevalent among students and young professionals, particularly the former. Consequently, a positive relationship exists between the sales of ready meals and the number of school admissions. According to the Australian Bureau of Statistics, 4,042,512 students were registered across 9,614 educational institutions in 2022. This trend is projected to continue due to the growing number of regional schools, resulting in increased admissions and greater availability of ready meals. Furthermore, the presence of foreign international students has contributed to the expansion of this market. Based on the Australian Bureau of Statistics data, there was an influx of approximately 143,000 students entering Australia in February 2023, representing an increase of 93,270 compared to the corresponding period in the previous year. Although there has been a slight decline in numbers during the pandemic year, the Australian government's acceptance of various foreign vaccination certificates will facilitate students' entry, thereby supporting the growth of ready-to-eat meals.
Extended Periods of Work and Demanding Work Schedules
Australia is witnessing the establishment of new multinational companies, which enables marketers to target niche markets despite their relatively small size. Companies such as Goldman Sachs are actively hiring employees, and the working hours in investment banks can extend to 13-14 hours per day, exceeding the average daily working hours of 8. The influx of multinational companies and the removal of cross-cultural barriers will contribute to the ready meals market's ability to provide various meals to different consumers. Moreover, the government's proposal to reimburse meals consumed during overtime will further support market growth and activity.
Impact of COVID-19
Prior to the pandemic, fast food, takeaway, and ready-to-eat/ready-to-heat, pre-cooked meals accounted for a sizeable portion of Australians' diets, and culinary proficiency had been diminishing. Takeaway or ready-to-eat food is frequently heavy in calories, especially from processed sugars and saturated fat, and low in dietary fibre and micronutrients (such vegetables), degrading the diet's quality. The main obstacles to less home cooking from scratch seem to be time constraints, the need for convenience, and the increased accessibility and availability of takeaway and ready-to-eat items. Most Australians were converted to working from home or had flexible hours during the COVID-19 pandemic, which likely reduced commute times and gave them more time for home cooking.
Australia Ready-To-Eat Food Market: Report Scope
“Australia Ready-To-Eat Food Market Assessment, Opportunities, and Forecast, 2016-2030F”, is a comprehensive report by Markets and Data, providing in-depth analysis and assessment of the current scenario of the ready-to-eat food market in Australia, industry dynamics and opportunities, and forecasts (2023-2030). Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business model, competitive intelligence, etc.
Report Attribute |
Details |
Base Year of the Analysis |
2022 |
Historical Period |
2016-2021 |
Forecast Period |
2023-2030 |
Projected Growth Rate |
CAGR of 4.25% from 2023-2030 |
Revenue Forecast in 2030 |
USD 2.12 billion |
Units |
Revenue in USD billion |
Segments Covered |
Category, Packaging Type, Distribution Channel, End User |
Regions Covered |
Western Australia, Northern Territory, Queensland, South Australia, New South Wales, Victoria, and Tasmania |
Key Companies Profiled |
Nestlé SA (Lean Cuisine), H.J. Heinz Company Australia Limited (Kraft Heinz), Coles Group Limited (Coles Kitchen), My Muscle Chef Pty Ltd, Beak & Johnston Holdings Pty Ltd, Conagra Brands, Inc. (Healthy Choice), The Dinner Ladies Pty. Ltd, Meatopia Pty Ltd (Meatsmith), Youfoodz Holdings Pty Limited, Lite n' Easy Pty Ltd |
Customization Scope |
15% free report customization with purchase |
Pricing and Purchase Options |
Avail the customized purchase options to fulfil your precise research needs |
Delivery Format |
PDF and Excel through email (subject to the license purchased). We can also provide the editable version of the report in PPT/PDF format on special request |
In this report, Australia Ready-To-Eat Food Market has been segmented into the following categories:
1. By Category
1.1. Instant Breakfast/Cereals
1.2. Instant Soups and Snacks
1.3. Baked Goods
1.4. Meat/Poultry
1.5. Others
2. By Packaging Type
2.1. Canned
2.2. Frozen or Chilled
2.3. Retort
2.4. Others
3. By Distribution Channel
3.1. Online
3.2. Offline
3.2.1. Supermarkets/Hypermarkets
3.2.2. Departmental Stores
3.2.3. Convenience Stores
3.2.4. Others
4. By End-user
4.1. Residential
4.2. Food Service
4.3. Institutional
5. By Region
5.1. Western Australia
5.2. Northern Territory
5.3. Queensland
5.4. South Australia
5.5. New South Wales
5.6. Victoria
5.7. Tasmania
Key Players Landscape and Outlook
Many companies in Australia compete for customers in the fiercely competitive Ready-To-Eat Food business, including My Muscle Chef Pty Ltd, The Dinner Ladies Pty. Ltd, Beak & Johnston Holdings Pty Ltd, and Coles Group Limited (Coles Kitchen). These firms invest in R&D to advance their product lines. Startups are more prevalent in Australia than ever before, and they are continually developing and attempting to provide consumers with new products. Even a few tiny food-related businesses, such delicatessen and butchers- like Meatopia Pty Ltd (Meatsmith), have jumped on board.
Key Players Operating in the Australia Ready-To-Eat Food Market
· H.J. Heinz Company Australia Limited (Kraft Heinz)
· Coles Group Limited (Coles Kitchen)
· My Muscle Chef Pty Ltd
· Beak & Johnston Holdings Pty Ltd
· Conagra Brands, Inc. (Healthy Choice)
· The Dinner Ladies Pty. Ltd
· Meatopia Pty Ltd (Meatsmith)
· Youfoodz Holdings Pty Limited
· Lite n' Easy Pty Ltd
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· How are the markets predicted to develop in the future and what factors will drive or inhibit growth?
· What is the business environment and regulatory landscape specific to the product/service?
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Table of Contents
1. Research Methodology
2. Project Scope & Definitions
3. Impact of COVID-19 on Australia Ready-To-Eat Food Market
4. Executive Summary
5. Voice of Customer
5.1. Demographics (Age/Cohort Analysis – Baby Boomers and Gen X, Millennials, Gen Z; Gender; Income – Low, Mid and High; Geography; Nationality; etc.)
5.2. Market Awareness and Product Information
5.3. Brand Awareness and Loyalty
5.4. Factors Considered in Purchase Decision
5.4.1.Brand Name
5.4.2.Pack Size
5.4.3.Price
5.4.4.Customisation Options
5.4.5.Packaging Type
5.4.6.Shelf Life
5.4.7.Inclination Towards Organic Products
5.4.8.Promotional Offers & Discounts
5.5. Purpose of Purchase
5.6. Frequency of Purchase
5.7. Medium of Purchase
5.8. Role of Brand Ambassador or Influencer Marketing on Product/Brand Absorption
6. Australia Ready-To-Eat Food Market Outlook, 2016-2030F
6.1. Market Size & Forecast
6.1.1. By Value
6.1.2. By Volume
6.2. By Category
6.2.1.Instant Breakfast/Cereals
6.2.2.Instant Soups and Snacks
6.2.3.Baked Goods
6.2.4.Meat/Poultry
6.2.5.Others
6.3. By Packaging Type
6.3.1.Canned
6.3.2.Frozen or Chilled
6.3.3.Retort
6.3.4.Others
6.4. By Distribution Channel
6.4.1.Online
6.4.2.Offline
6.4.2.1. Supermarkets/Hypermarkets
6.4.2.2. Departmental Stores
6.4.2.3. Convenience Stores
6.4.2.4. Others
6.5. By End-user
6.5.1.Residential
6.5.2.Food Service
6.5.3.Institutional
6.6. By Region
6.6.1.Western Australia
6.6.2.Northern Territory
6.6.3.Queensland
6.6.4.South Australia
6.6.5.New South Wales
6.6.6.Victoria
6.6.7.Tasmania
6.7. By Company Market Share (%), 2022
7. Market Mapping, 2022
7.1. By Category
7.2. By Packaging Type
7.3. By Distribution Channel
7.4. By End-user
7.5. By Region
8. Macro Environment and Industry Structure
8.1. Supply Demand Analysis
8.2. Import Export Analysis
8.3. Value Chain Analysis
8.4. PESTEL Analysis
8.4.1.Political Factors
8.4.2.Economic System
8.4.3.Social Implications
8.4.4.Technological Advancements
8.4.5.Environmental Impacts
8.4.6.Legal Compliances and Regulatory Policies (Statutory Bodies Included)
8.5. Porter’s Five Forces Analysis
8.5.1.Supplier Power
8.5.2.Buyer Power
8.5.3.Substitution Threat
8.5.4.Threat from New Entrant
8.5.5.Competitive Rivalry
9. Market Dynamics
9.1. Growth Drivers
9.2. Growth Inhibitors (Challenges and Restraints)
10. Key Players Landscape
10.1. Competition Matrix of Top Five Market Leaders
10.2. Market Revenue Analysis of Top Five Market Leaders (in %, 2022)
10.3. Mergers and Acquisitions/Joint Ventures (If Applicable)
10.4. SWOT Analysis (For Five Market Players)
10.5. Patent Analysis (If Applicable)
11. Pricing Analysis
12. Case Studies
13. Key Players Outlook
13.1. Nestlé SA (Lean Cuisine)
13.1.1. Company Details
13.1.2. Key Management Personnel
13.1.3. Products & Services
13.1.4. Financials (As reported)
13.1.5. Key Market Focus & Geographical Presence
13.1.6. Recent Developments
13.2. H.J. Heinz Company Australia Limited (Kraft Heinz)
13.3. Coles Group Limited (Coles Kitchen)
13.4. My Muscle Chef Pty Ltd
13.5. Beak & Johnston Holdings Pty Ltd
13.6. Conagra Brands, Inc. (Healthy Choice)
13.7. The Dinner Ladies Pty. Ltd
13.8. Meatopia Pty Ltd (Meatsmith)
13.9. Youfoodz Holdings Pty Limited
13.10. Lite n' Easy Pty Ltd
*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work
14. Strategic Recommendations
15. About Us & Disclaimer
List of Figures: Australia Ready-To-Eat Food Market
Figure 1. Australia Ready-To-Eat Food Market, By Value, In USD Billion, 2016-2030F
Figure 2. Australia Ready-To-Eat Food Market, By Volume, In Unit Thousand, 2016-2030F
Figure 3. Australia Ready-To-Eat Food Market Share, By Category, In USD Billion, 2016-2030F
Figure 4. Australia Ready-To-Eat Food Market Share, By Packaging Type, In USD Billion, 2016-2030F
Figure 5. Australia Ready-To-Eat Food Market Share, By End-user, In USD Billion, 2016-2030F
Figure 6. Australia Ready-To-Eat Food Market Share, By Distribution Channel, In USD Billion, 2016-2030F
Figure 7. Australia Ready-To-Eat Food Market Share, By Region, In USD Billion, 2016-2030F
Figure 8. By Category Map-Market Size (USD Billion) & Growth Rate (%), 2022
Figure 9. By Packaging Type Map-Market Size (USD Billion) & Growth Rate (%), 2022
Figure 10. By End-user Map-Market Size (USD Billion) & Growth Rate (%), 2022
Figure 11. By Distribution Channel Map-Market Size (USD Billion) & Growth Rate (%), 2022
Figure 12. By Region Map-Market Size (USD Billion) & Growth Rate (%), 2022
List of Tables: Australia Ready-To-Eat Food Market
Table 1. Pricing Analysis of Products from Key Players
Table 2. Competition Matrix of Top 5 Market Leaders
Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
Table 4. About Us - Regions and Countries Where We Have Executed Client Projects
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