This report provides a concise overview of the Prepared Meals market in Australia. After reading this report, you will understand the size of the market, the economic, demographic, and behavioral trends that will drive its evolution and the leading players within the market, allowing you to plan effectively for the future.
Analysis of consumer behavior, economic conditions, and demography reveals emerging opportunities in the Prepared Meals sector.
Key growth categories are highlighted by analyzing the market dynamics of three Prepared Meals categories.
Market shares are provided for the leading brands across Prepared Meals categories.
An overview of packaging trends in the Australian Prepared Meals sector is provided, including primary packaging material and type, packaging closures, and outer packaging.
Why was the report written?
This overview of the consumer and market dynamics of the Australian Prepared Meals sector allows new entrants and established players to gain rapid and comprehensive insight into the current state of the market and identify the key trends that will drive growth in the coming years.
What is the current market landscape and what is changing?
The prepared Meals market is growing due to the increase in the number of women in the workforce and single person and one-parent family units. While growth has been steady in local currency terms, closely matching volume growth, volatile exchange rates have added complexity to the market for international companies. For instance, the value of the Australian dollar versus the US dollar fell rapidly during the second half of 2008, and then grew rapidly during 2009. This has caused volatile growth in the Australian Prepared Meals market in US$ terms, even as volumes have grown at a relatively constant rate.
What are the key drivers behind recent market changes?
Prepared Meals Market is growing in Australia with the increase in the number women in the workforce, the increase in single-person and one parent family units, the decrease in the number of formal family meals, and above all, the increasing immigrant and student populations.
What makes this report unique and essential to read?
This report brings together consumer insight and market data to provide a comprehensive brief of the Australian Prepared Meals sector. This allows for the rapid identification of key growth opportunities across three Prepared Meals categories and their packaging.
Hypermarket & Supermarket dominance is due to concentrated nature of retail sector in Australia and people continue to shop more with Woolworths, Coles and ALDI among others.
Price and health are increasingly important for Australian consumers as the Prepared Meal sector evolves to take into account pressures on consumer spending and rising awareness of health and wellness issues.
Ready Meals is the most valuable and fastest growing category in Prepared Meal market.
Marketers are exploring new products innovation targeted towards providing convenience, taste, and healthy ready-to-eat meals.
The basic idea behind retailer brands is the ready to eat range that is offered to time poor consumers and is competitively priced to push out the branded product range.