Australia Ready Meals Market - Forecast (2022 - 2027)
The Australia Ready Meals Market size is estimated to reach $1,241 million by 2027 and is poised to grow at a CAGR of 6.1% over the forecast period of 2022-2027. As the name suggests, ready meals are pre-cooked meals that can be supplied in various forms, such as chilled or dried, and as per the user convenience, they can be boiled or heated and gets ready to be consumed. However, there are cases when the ready meals mat does not need any sort of heating or drying. Canned ready meals, for example, are gaining immense traction during the pandemic year. As most of the students or bachelors were forced to stay indoors, the need to have daily meals were fulfilled via them. Additionally, marketers are readily bringing in healthy options such as – “Prepared Salads.” The following allows the consumers to have a wholesome meal without compromising on their diet restrictions. However, apart from the healthy options, foods such as frozen pizza and burgers even saw a heightens in their demand patterns, especially the products which were marketed as “healthy”, “vegan”, or sourced via sustainable means.
Report Coverage
The report: “Australia Ready Meals Market Forecast (2022-2027)” by Industry ARC covers an in-depth analysis of the following segments of the Australia Ready Meals Market.
By Product Type- Frozen Ready Meals, Chilled Ready Meals, Dry Ready Meals, and Canned Ready Meals & Others.
By Distribution Channel- Online and Offline.
Key Takeaways
- The availability of a variety of ready meals available in the market makes the end-user aware of various brand offerings. Additionally, the rising number of institutions demanding more student inflow are some of the key drivers for the market.
- However, clouds supplanting the health hazards and the ready usage of preservatives presents a grave market challenge.
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A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Australia Ready Meals Market Report.
Australia Ready Meals Market Segmentation Analysis - By Product Type
The Australia Ready Meals market based on product type can be further segmented into Frozen Ready Meals, Chilled Ready Meals, Dry Ready Meals, and Canned Ready Meals & Others. Dry ready meals held a dominant market share in the year 2021. It is owing to the resurgence of the pandemic in Australia, which again made the people shut their houses and be dependent on ready meals. Major market players such as Coles and Woolworths introduced a variety of ready meals, which contained and fulfilled various wants of the people. For example, Coles launched 100 new different ready meals for the people in the population to fulfil an entire meal.
Moreover, the dry ready meals segment is estimated to be the fastest-growing, with a CAGR of 6.8% over the forecast period of 2022-2027. It is owing to the various notions being kept forefront, such as following NON-GMO practices, making vegan products more vigilant on the shelf, and various others, which will allow the following segment to grow at a steadfast pace. Additionally, the growing number of Asian students who prefer their local food will further allow the segment to grow.
Australia Ready Meals Market Drivers
Growing number of school admissions along with rising influx of foreign internationals have acted as a key driver for the market
Ready meals are highly consumed by the students and young professionals, especially the former. Hence, a positive correlation can be established between the sales of ready meals and the number of school admissions. As per the statistics released by the Australia Bureau of Statistics, the number of enrolments has increased by 5.5% from 2016-2020. Moreover, the trends will continue to rise as the number of schools in the region is increasing as well, which will allow for more admissions and will thereby help in the ready supply of ready meals. Additionally, the influx of foreign international students has allowed the market to take space and grow. Around 3.5 million people took admissions within the Australian colleges and universities. However, the numbers have been constant and have slightly dipped in the pandemic year, but the Australian government readily accepts various foreign vaccination certificates will allow the influx of students and hence supplement the growth of ready meals.
Australia Ready Meals Market Competitive Landscape
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the India Australia Ready Meals market. The top 10 Australia Ready meals market companies include:
- Nestle SA
- ConAgra Brands
- Kraft Heinz Company
- Chao-Xiang Yuan Food
- Dr Oetker
- BRF SA
- Berkshire
- Green Mill Foods
- General Mills
- Tyson Foods
Recent Developments
- In October 2021, OmniFoods launched OmniMeats in the Australian region after success in the UK. The range would include mince, strips, and luncheon meat-plant based foods. The product would be available on Woolworths- A giant supermarket chain in the country. Moreover, the packaging is kept as eco-friendly and have minimal preservatives. Non-GMO soy, pea, shiitake mushrooms and rice are the key ingredients. All products are cruelty-free, vegan friendly, and free of antibiotics and hormones.
- In June 2020, Cole’s supermarket launched its largest ready-made meals across the stores in Australia. The brand line dedicated for the same is “Coles Kitchen.” A total of 100 new quick and easy meals were launched, which had flavors of Italian, Indian, and Australian. Some of the meals are, Slow-cooked Beef Brisket Bourguignon, Slow-cooked Greek Inspired Pork, Chicken Tikka Masala with Rice and Roasted Cauliflower Chana Masala.
- In June 2019, Woolworths Group went into form a partnership with A$30 million. Woolworths will gain valuable insights from Marley Spoon’s market experience as it looks to complement its current customer offering online by promoting Marley Spoon’s meal kits service through the partnership. Moreover, with the substantial partnership the online sales soared by a great margin which compels the company to elongate their relationship.
