Wilmington, Delaware, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Australia Ready Meals Market was valued at US$ 1,084 million in 2022 and is expected to grow at a significant CAGR of over 5.2% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
Ready meals, also known as convenience meals or prepared meals, are food products that are pre-cooked, pre-packaged, and ready to eat or require only minor preparation prior to consumption. These meals are intended to give a quick and convenient dining option for those who do not have the time or desire to prepare from scratch.
For busy consumers, ready meals provide a simple and convenient dinner solution. When people lack the time, energy, or cooking abilities to prepare a meal from scratch, they frequently settle for ready meals. People in today's fast-paced society value time-saving choices. Ready meals minimize the need for consumers to plan meals, go grocery shopping, and cook, allowing them to enjoy a meal quickly.
- According to a deep-dive market assessment by RationalStat, the Australia ready meals market has been analyzed on the basis of market segments, including product, meal type, distribution channel, end user and geography/regions (including Western Australia, Southern Australia, Eastern Australia, Northern and Central Australia). The report also offers Australia and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the Australia ready meals market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the Australia ready meals market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Australia Ready Meals Market: Segmental and Market Share Analysis
- On the basis of product, canned food category dominates the market. It is due to the revival of the epidemic in Australia, which has forced people to close their doors and rely on ready meals.
- On the basis of distribution channel, the online market is projected to dominate. Because of their hectic lifestyles, people prefer shopping online to in-store buying.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 1,084 million |
| Market Size Forecast | US$ 1,630 million |
| Growth Rate | 5.2% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the Australia ready meals market include,
- In October 2021, OnmiFoods introduced OmniMeats in Australia. The menu would comprise mince, strips, and lunchtime meat-plant-based items.
- In June 2020, Cole's supermarket in Australia launched the largest ready-made meals. The brand name for this is "Coles Kitchen." A total of 100 new quick and easy recipes with Italian, Indian, and Australian flavour were introduced.
Some of the prominent players and suppliers operating and contributing significantly to the Australia ready meals market growth include McCain Foods Limited, Vesco Foods, Core Ingredients Pty Ltd, WW International, Inc, My Muscle Chef Pty Ltd., MarleySpoon Ltd., Dineamic, Nestle SA, Conga Foods Pty Ltd, H.J., and Heinz Company Australia Limited, among others.
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RationalStat has segmented the Australia ready meals market based on product, meal type, distribution channel, end user and region
- Australia Ready Meals Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Product
- Frozen
- Chilled
- Canned
- Australia Ready Meals Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Meal Type
- Vegetarian
- Non-Vegetarian
- Australia Ready Meals Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Distribution Channel
- Online
- Supermarkets
- Others
- Australia Ready Meals Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by End User
- Residential
- HoReCa
- Others
- Australia Ready Meals Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by RegionAustralia Ready Meals Market
- Western Australia
- Southern Australia
- Eastern Australia
- Northern and Central Australia
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Key Questions Answered in the Ready Meals Report:
- What will be the market value of the Australia ready meals market by 2030?
- What is the market size of the Australia ready meals market?
- What are the market drivers of the Australia ready meals market?
- What are the key trends in the Australia ready meals market?
- Which is the leading region in the Australia ready meals market?
- What are the major companies operating in the Australia ready meals market?
- What are the market shares by key segments in the Australia ready meals market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end Australia market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support Australia and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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