Market Insights Consumer Food Convenience Food

Ready-to-Eat Meals - Australia

Australia

Revenue in the Ready-to-Eat Meals market amounts to €3.29bn in 2024. The market is expected to grow annually by 5.01% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€138bn in 2024).
In relation to total population figures, per person revenues of €123.20 are generated in 2024.
In the Ready-to-Eat Meals market, volume is expected to amount to 0.40bn kg by 2029. The Ready-to-Eat Meals market is expected to show a volume growth of 2.7% in 2025.
The average volume per person in the Ready-to-Eat Meals market is expected to amount to 13.5kg in 2024.

Key regions: Russia, United States, United Kingdom, Canada, India

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Analyst Opinion

The Ready-to-Eat Meals Market in Australia has seen minimal growth due to factors such as a shift in consumer preferences towards healthier food options and the convenience of online food delivery services.

Customer preferences: In recent years, there has been a growing trend towards healthy and convenient food options, leading to a rise in demand for plant-based and clean label ready-to-eat meals. This is driven by a shift towards healthier eating habits, as well as a rise in environmentally conscious consumers. Additionally, the rise of online grocery shopping and delivery services has made it easier for consumers to access a wider variety of ready-to-eat meals, further contributing to the growth of this market.

Trends in the market: In Australia, the Ready-to-Eat Meals Market within the Convenience Food Market of The Food market is experiencing a surge in demand for plant-based options, as consumers become more health-conscious and environmentally aware. This trend is expected to continue, with major players like Coles and Woolworths expanding their plant-based offerings. Additionally, there is a growing demand for premium and gourmet ready-to-eat meals, as consumers seek convenience without compromising on taste and quality. These trends present opportunities for industry stakeholders to innovate and cater to evolving consumer preferences.

Local special circumstances: In Australia, the Ready-to-Eat Meals market is witnessing significant growth due to the busy lifestyles of consumers and the increasing demand for convenience. Moreover, the country's diverse population, with a large number of immigrants, has led to a growing market for international cuisines, driving the demand for Ready-to-Eat Meals. Additionally, Australia's stringent food safety regulations ensure the quality and safety of these meals, instilling trust in consumers. The country's widespread adoption of e-commerce and online food delivery services has further fueled the growth of the Ready-to-Eat Meals Market.

Underlying macroeconomic factors: The Ready-to-Eat Meals Market of the Convenience Food Market within The Food market in Australia is heavily impacted by macroeconomic factors such as consumer spending, population demographics, and government policies. As a developed nation with a strong economy, Australia has a high level of disposable income, which drives the demand for convenience food products such as ready-to-eat meals. Moreover, the growing trend of time-poor consumers and the rise of single-person households have also contributed to the growth of this market. On the other hand, government policies such as food safety regulations and labeling requirements can also influence market performance. Additionally, global economic trends and trade agreements can impact the availability and cost of imported ingredients and finished products, which can affect the overall market growth.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.