Australia's Prepared Meals Market Forecast Shows Modest 0.2% CAGR Growth Through 2035

IndexBox has just published a new report: Australia - Prepared Dishes and Meals - Market Analysis, Forecast, Size, Trends And Insights.

This article provides a comprehensive analysis of Australia's prepared dishes and meals market from 2013 to 2024, with forecasts to 2035. In 2024, consumption reached 726K tons, valued at $5.9B, with production at 599K tons ($5.1B). The market is forecast to grow slowly to 742K tons ($6.1B) by 2035, with a CAGR of +0.2% in volume and +0.3% in value. Australia is a net importer, sourcing 215K tons ($1.6B) mainly from Thailand, Japan, and Malaysia by volume, and Singapore, New Zealand, and the US by value. Exports were 88K tons ($798M), primarily to China, New Zealand, and Japan. Import prices averaged $7,393/ton, while export prices were higher at $9,065/ton.

Key Findings

• Market forecast to grow slowly to 742K tons ($6.1B) by 2035 with a CAGR of +0.2% in volume and +0.3% in value
• Australia is a net importer, with 2024 imports of 215K tons significantly exceeding exports of 88K tons
• China is the dominant export market by value ($395M, 50% share), while Singapore is the highest-value import source ($441M)
• Import prices are significantly lower than export prices ($7,393/ton vs $9,065/ton), indicating a focus on higher-value exports
• Domestic production (599K tons) supplies most of the local consumption (726K tons), supplemented by imports

Market Forecast

Driven by increasing demand for prepared dishes and meals in Australia, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.2% for the period from 2024 to 2035, which is projected to bring the market volume to 742K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +0.3% for the period from 2024 to 2035, which is projected to bring the market value to $6.1B (in nominal wholesale prices) by the end of 2035.

Consumption

Australia's Consumption of Prepared Dishes and Meals

In 2024, approx. 726K tons of prepared dishes and meals were consumed in Australia; picking up by 7.3% on 2023 figures. The total consumption volume increased at an average annual rate of +2.8% over the period from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2023 when the consumption volume increased by 9.6% against the previous year. Over the period under review, consumption attained the peak volume in 2024 and is expected to retain growth in the immediate term.

The revenue of the prepared dishes and meal market in Australia contracted to $5.9B in 2024, therefore, remained relatively stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a buoyant expansion from 2013 to 2024: its value increased at an average annual rate of +6.8% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +17.8% against 2022 indices. Over the period under review, the market attained the peak level at $5.9B in 2023, and then shrank slightly in the following year.

Production

Australia's Production of Prepared Dishes and Meals

Prepared dishes and meal production in Australia expanded notably to 599K tons in 2024, growing by 6.6% on the year before. The total output volume increased at an average annual rate of +2.7% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2023 when the production volume increased by 22%. Over the period under review, production reached the peak volume in 2024 and is likely to see gradual growth in years to come.

In value terms, prepared dishes and meal production declined slightly to $5.1B in 2024 estimated in export price. Over the period under review, the total production indicated a remarkable increase from 2013 to 2024: its value increased at an average annual rate of +7.6% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production increased by +44.1% against 2019 indices. The pace of growth was the most pronounced in 2015 with an increase of 36% against the previous year. Prepared dishes and meal production peaked at $5.2B in 2023, and then reduced modestly in the following year.

Imports

Australia's Imports of Prepared Dishes and Meals

In 2024, after three years of decline, there was significant growth in overseas purchases of prepared dishes and meals, when their volume increased by 8.7% to 215K tons. Over the period under review, total imports indicated a tangible increase from 2013 to 2024: its volume increased at an average annual rate of +3.3% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports decreased by -26.6% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 34%. Imports peaked at 293K tons in 2020; however, from 2021 to 2024, imports failed to regain momentum.

In value terms, prepared dishes and meal imports rose significantly to $1.6B in 2024. Overall, total imports indicated a noticeable expansion from 2013 to 2024: its value increased at an average annual rate of +2.1% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports decreased by -3.9% against 2022 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 29%. Over the period under review, imports reached the peak figure at $1.7B in 2022; however, from 2023 to 2024, imports remained at a lower figure.

Imports By Country

Thailand (27K tons), Japan (24K tons) and Malaysia (18K tons) were the main suppliers of prepared dishes and meal imports to Australia, with a combined 32% share of total imports. China, New Zealand, India, Singapore, Taiwan (Chinese), Indonesia, the United States, the Netherlands and Denmark lagged somewhat behind, together comprising a further 45%.

From 2013 to 2024, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +14.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($441M), New Zealand ($246M) and the United States ($137M) were the largest prepared dishes and meal suppliers to Australia, together comprising 52% of total imports. China, Thailand, Malaysia, the Netherlands, Denmark, Indonesia, India, Japan and Taiwan (Chinese) lagged somewhat behind, together comprising a further 29%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +20.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices By Country

In 2024, the average prepared dishes and meal import price amounted to $7,393 per ton, almost unchanged from the previous year. Over the period under review, the import price saw a slight descent. The pace of growth was the most pronounced in 2021 an increase of 43% against the previous year. The import price peaked at $8,373 per ton in 2013; however, from 2014 to 2024, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2024, amid the top importers, the country with the highest price was Singapore ($40,750 per ton), while the price for Japan ($1,414 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by China (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports

Australia's Exports of Prepared Dishes and Meals

In 2024, overseas shipments of prepared dishes and meals increased by 5.9% to 88K tons, rising for the second year in a row after five years of decline. In general, total exports indicated tangible growth from 2013 to 2024: its volume increased at an average annual rate of +3.3% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +20.1% against 2022 indices. The pace of growth was the most pronounced in 2015 with an increase of 32% against the previous year. The exports peaked at 130K tons in 2017; however, from 2018 to 2024, the exports failed to regain momentum.

In value terms, prepared dishes and meal exports dropped to $798M in 2024. Over the period under review, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2015 when exports increased by 89% against the previous year. Over the period under review, the exports attained the maximum at $1.3B in 2017; however, from 2018 to 2024, the exports failed to regain momentum.

Exports By Country

New Zealand (33K tons), China (24K tons) and Japan (5.5K tons) were the main destinations of prepared dishes and meal exports from Australia, together comprising 70% of total exports.

From 2013 to 2024, the biggest increases were recorded for China (with a CAGR of +25.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($395M) remains the key foreign market for prepared dishes and meals exports from Australia, comprising 50% of total exports. The second position in the ranking was taken by New Zealand ($126M), with a 16% share of total exports. It was followed by Thailand, with a 4.9% share.

From 2013 to 2024, the average annual rate of growth in terms of value to China totaled +32.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+4.8% per year) and Thailand (+24.7% per year).

Export Prices By Country

In 2024, the average prepared dishes and meal export price amounted to $9,065 per ton, waning by -10.1% against the previous year. Overall, export price indicated a strong increase from 2013 to 2024: its price increased at an average annual rate of +6.7% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, prepared dishes and meal export price increased by +4.5% against 2021 indices. The pace of growth was the most pronounced in 2015 an increase of 43% against the previous year. The export price peaked at $10,281 per ton in 2017; however, from 2018 to 2024, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($19,519 per ton), while the average price for exports to Japan ($2,321 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.