Sector Trend Analysis – Packaged food trends in Australia

Country and consumer profile

Income and expenditure

In 2023, Australia held the sixth position among thirty-three developed nations in terms of average gross income, recording USD50,915. The country witnessed a 1.5% decrease in per capita disposable income levels in real terms in 2023 (compared to a 4.5% decline in 2022), attributed primarily to an economic slowdown, increased tax and social security contributions, and a decline in labour productivity. Australia's per capita disposable income is projected to increase 3.3% in real terms during 2023 to 2028, at a slower rate compared to the average in developed countries (Euromonitor International; Income and Expenditure: Australia, July 2024)

The population segment aged 50 to 54 years is forecast to remain the highest income earning per capita in 2028, due to an accumulation of assets and multiple sources of income, while the consumer group aged 65+ is set to dominate the top-income band with an annual gross income over US$250,000 (Euromonitor International; Income and Expenditure: Australia, July 2024)

Australia experienced a marginal decline in per capita consumer expenditure by 0.1% in real terms, largely due to falling disposable income and deteriorating consumer confidence in 2023.Among the major groups of consumer goods and services, alcoholic drinks and tobacco products, education, and hospitality services witnessed the largest price increases in 2023. Expenditure on education is anticipated to increase at the fastest pace over 2023-2028, while housing is expected to remain the major consumer spending category in 2028 (Euromonitor International; Income and Expenditure: Australia, July 2024)

The wealthiest 10.0% of households accounted for 31.7% of inconspicuous consumption, referring to spending on more discretionary categories such as health goods and medical services, education, leisure and recreation and luxury goods, in 2023. Australia is anticipated to maintain its position among the top ten most attractive markets for high-value consumption, projected to rank sixth out of eighty-four countries in Euromonitor's Wealth Index by 2030, with the country's wealthy and affluent population expected to reach 2.6 million adults (11.5% of adult population) by 2030 (Euromonitor International; Income and Expenditure: Australia, July 2024)

In 2023, Australia's real gross domestic product (GDP) growth decelerated to 2.0% following an expansion of 3.9% the previous year. Despite this slowdown, the country's GDP per capita reached US$65,930, significantly higher than the average of US$56,317 in developed countries. In 2024, the country's economic development was projected to decelerate further, with real GDP growth of 1.3% expected, attributed to increased interest rates and rising cost of living. Mid 2024 however, tax reductions, interest rate cuts, and a decrease in inflation was anticipated to start stimulating expenditure in Australia (Euromonitor International; Economy, Finance and Trade: Australia, May 2024)

Australia's inflation rate was reduced to 5.6% in 2023 from 6.6% in 2022, largely due to a more stringent monetary policy, weaker economic growth, and lower food and energy prices which contributed to easing inflationary pressures. In 2024, Australia' inflation was projected to decelerate to 3.6%. The Reserve Bank of Australia (RBA) anticipates that it will take some time for inflation to return to the target range of 2-3%, with its predictions suggesting a return to this range by 2025 (Euromonitor International; Economy, Finance and Trade: Australia, May 2024)

Demographics

Population growth in Australia will be driven by positive natural change, immigration and rising life expectancy, increasing the population from 26.7 million in 2023, to 28.9 million in 2029, and 32.1 million by 2040. Fertility rates are anticipated to remain stable at 1.6% between 2023 to 2040, while the average age of mothers at childbirth will rise from 31.9 to 32.4 years, with women increasingly establishing careers and financial security before family planning. Strong levels of positive net migration will continue throughout 2023 to 2040, with migration from the United Kingdom, China and New Zealand driving population growth, accounting for 20.0% of the population by 2040 (Euromonitor International; The Future Demographic, March 2024).

A high standard of living and quality healthcare throughout 2023 to 2040 will increase life expectancy to 84.6 years by 2040, with 20.0% (6.1 million) of the population projected to be of the age 65+ (versus 17.1% in 2023), while 15.5% of the population will be of the age 0-14 and 63.2% of the population will be of the age 15-64 years by 2040 (Euromonitor International; The Future Demographic, March 2024).

The urban population will increase from 90.5% in 2023 to 92.5% in 2040, with Australia remaining one of the most urbanised countries globally. In line with population growth, the top ten major cities will grow, accounting for over 77.0% of the urban population, while urbanisation continues in smaller towns and cities.

Sydney and Melbourne will dominate the urban landscape, with Sydney remaining the largest city and consumer market, attracting citizens with its high standard of living, exceptional infrastructure, and a wide range of amenities, while also providing abundant educational and career opportunities (Euromonitor International; The Future Demographic, March 2024). Canberra is projected to be the fastest-growing city in terms of total population, with an expected increase of 1.9% from 474,200 in 2023 to 521,700 by 2028. Canberra is expected to reach a population of 597,400 by 2040 (Euromonitor International; Households: Australia, July 2024).

Australia is experiencing a shift towards smaller families due to evolving family dynamics and reduced birth rates. Couples with children were the dominant household type representing 32.0% of all households in 2023, largely due to the enduring prevalence of traditional family lifestyles. Among households with children, those with a single child were the most common in 2023. Further, and most typically, the household head was male, aged over 60, with secondary education and an employee by economic status. Couples without children are expected to be the fastest-growing household type, expanding by 10.5% by 2028, likely influenced by late marriages and childbirth, an ageing population and increasing divorce rates (Euromonitor International; Households: Australia, July 2024).

Consumers

In 2023, consumers continued to struggle with managing their household budgets, with 77.0% of respondents expressing concern that the cost of the everyday items are increasing. In terms of behaviour, there is a growing interest in brands, with 36.0% of respondents in Australia reporting they enjoy being actively engaged with brands, with 79.0%, including 70.0% of Gen Z, reporting they want to engage with brands to influence product innovation, and 74.0% only buying from brands they trust completely. Further, 55.0% of respondents, including 69.0% of Millennials, report they extensively research the products and services they consume (Euromonitor International; Consumer Lifestyles in Australia, June 2024).

Consumer cooking habits reveal that 76.0% of consumers cook or bake at home at least weekly rather than dine out. In addition, 40.0% reported they reheat/prepare ready meals to save time and effort. Nevertheless, many are still tempted by the convenience of ordering in. For example, 26.0% indicated they regularly order food for home delivery, while 36.0% are regularly ordering food for takeaway, or pick up ready-made food to eat at home (Euromonitor International; Consumer Lifestyles in Australia, June 2024).

In terms of eating and dietary habits, unhealthy eating habits and concerns about health are prompting consumers to manage their weight. Further, 20.0% of respondents reported they are on a diet trying to lose weight, while 51.0% state that they look for healthy ingredients in food and beverage choices. Relatedly, 34.0% of consumers closely read the nutrition labels with interest in healthy ingredients and health related information increasing (Euromonitor International; Consumer Lifestyles in Australia, June 2024).

Consumers are also reducing the proportion of meat in their diets with 24.0% of respondents reporting that they are trying to reduce their meat consumption, while 8.0% stated they now eat meat (and fish) only occasionally. Relatedly, Australians are increasingly exploring plant-based foods, while 20.0% prefer to buy food that is environmentally conscious or eco-friendly, and 30.0% noted they prefer to buy food that

is locally sourced or manufactured (Euromonitor International; Consumer Lifestyles in Australia, June 2024).

Retail markets

Global retail sales of packaged food

The global market for packaged food has experienced a moderate increase in compound annual growth rate (CAGR) of 7.5% as retail value sales have increased from US$2.1 trillion in 2019 to US$3.0 trillion in 2024 and are expected to increase by an additional CAGR of 7.0% as retail sales are expected to reach US$4.2 trillion by 2029. The United States (U.S) was the largest global market for packaged food with retail sales of US$595.6 billion (19.7% market share), followed by China with values of US$302.9 billion (10.0% market share) and Japan, with retail sales of US$158.4 billion (5.3% market share) in 2024.

Australia was the sixteenth largest global retail sales market for packaged food with values of US$37.4 billion, representing a 1.2% market share in 2024. The country experienced a moderate increase in CAGR of 4.8% as retail sales grew from US$29.6 billion in 2019 and is expected to further improve with an increase in CAGR of 4.1% in the forecast period as retail sales are anticipated to reach US$45.9 billion by 2029. Canada in comparison, was the twelfth largest retail sales market for packaged foods, accounting for a 2.0% market share with values of US$60.4 billion in 2024, representing annual growth of 6.2% from retail sales of US$44.7 billion in 2019. Canada is expected to maintain its growth with an increase in CAGR of 4.3% in the forecast period as retail sales are expected to attain US$74.5 billion by 2029.

Market size of packaged food in Australia

Australia's processed food and seafood product imports were valued at US$12,391.1 million in 2023, increasing 3.8% annually from US$10,300.9 million in 2018. Australia has imported US$12,427.7 million year-to-date (January to November 2024). Canada was the country's twenty-fourth largest supplier, accounting for US$107.8 million (0.9% market share) in 2023.

Australia's top processed food and seafood imports from the world included food preparations nowhere else specified, (US$1.5 billion, 11.9% market share), bread, pastry, cakes and biscuits (US$698.8 million, 5.6% market share), frozen pork (US$507.9 million, 4.1% market share), preparations for, and prepared sauces (US$402.5 million, 3.3% market share) and cheese (US$400.7 million, 3.2% market share) in 2023. Top suppling countries to Australia were New Zealand, the U. S, Thailand, China and Italy accounting for 44.5% of the market in 2023.

The top three packaged food categories in Australia, in terms of retail value sales in 2024, were dairy with values of US$7.3 billion (19.5% market share), increasing 5.3% annually from US$5.6 billion in 2019, followed by baked goods with values of US$5.5 billion (14.7% market share) and meals and soups with values of US$3.6 billion (9.6% market share), representing the greatest performance of all product categories within the historic period, increasing 9.7% annually from 2.3 billion in 2019, and recently increasing 8.0% annually from US$3.3 billion in 2023. Of note, all packaged food product categories experienced growth within the historic period, with the exception of baby food, which declined 4.1% from US$548.3 million in 2019 to US$444.4 million in 2024.

During the forecast period, packaged food is expected to attain a CAGR of 4.1% as retail sales reach US$45.9 billion by 2029. Similar to the historic period, all product categories of packaged food are anticipated to experience growth, albeit at lower rates, with the exception of the snacks category, which is anticipated to experience overall higher growth rates relative to those achieved within the historic period.

Subsector analysis

Cooking ingredients and meals

According to Euromonitor International, the cooking ingredient and meals market in Australia has recently experienced strong retail volume growth, as the high cost of living and restricted budgets have encouraged many consumers to cook at home as an affordable solution. Increasing production costs have also increased unit prices (contributing to retail value growth), persuading price-sensitive consumers to seek more affordable options through private label products. In addition, products that prioritize health and wellness are becoming more prevalent.

In terms of channel distribution, supermarkets remain the dominant channel for cooking ingredients and meals, however, discounters are gaining greater consumer trust. Relatedly, convenience -oriented stores are poised for growth, as these channels offer quick access and convenient shopping solutions, especially as more workers return to office environments (Euromonitor International; Cooking Ingredients and Meals in Australia, October 2024).

In the forecast period, convenience and health in cooking will increasingly as consumers seek products that are both easy to buy, simple to prepare and healthy. Plant-based foods for on-the-go consumption for example, are emerging products, serving to address consumer need for both convenience and health in product options. (Euromonitor International; Cooking Ingredients and Meals in Australia, October 2024).

Edible oils

The Australian edible oil market grew at a measurable CAGR of 8.2% during the 2019 to 2024 period, increasing from US$386.5 million in 2019 to US$572.7 million in 2024, due primarily to mounting production costs and rising unit prices for edible oil, especially olive oil, and the continuance of meal preparation at home (Euromonitor International; Edible Oils in Australia, October 2024).

Olive oil was the largest edible oil category with retail value sales of US$350.9 million (61.3% edible oil market share) in 2024, increasing 10.0% from US$218.3 million in 2019. Despite the segment's rising prices, demand for olive oil remains robust, reflecting its continued popularity among health-conscious consumers. Sunflower oil in comparison, achieved the best performance, expanding 11.6% annually, (increasing from US$3.7 million to US$6.4 million during the same period), reflecting the product versatility and affordability that many consumers seek in their everyday meals. Of interest, corn oil also recently increased 14.3% annually as retail sales grew from US$0.7 million to US$0.8 million between 2023-2024. (Euromonitor International; Edible oils in Australia, October 2024).

The edible oil market is forecast to increase in CAGR by 6.6% reaching US$786.8 million by 2029 as the consumer's strong preference for olive oil in particular, and its perceived health benefits, continue. Relatedly, avocado oil is expected to remain a promising segment, also due to its perceived health benefits including its high content of antioxidants, vitamin E, polyphenols, and carotenoids.

In the edible oil competitive landscape, Boundary Bend Ltd (Brand names: Cobram Estate and Red Island) led sales with a market share of 17.2%, followed by Conga Foods Pty Ltd (Brand names: Moro and Squeaky Gate) with a market share of 12.5% while private labels represented a 33.2% market share in 2024. Of note, sustainability is expected to see significant development over the forecast period. Further, sustainability initiatives, such as reusable packaging and reducing carbon footprints, are gaining traction, reflecting the shift towards more environmentally responsible operations. For example, leading brand Cobram Estate (Boundary Bend Ltd) continues to improve its sustainability efforts, by actively collaborating with major chained grocery retailers Woolworths and Coles to promote eco-friendly practices. (Euromonitor International; Edible oils in Australia, October 2024).

Meals and soups

Meals and soups were the third largest packaged food category in Australia with retail sales of US$3.6 billion in 2024, representing a moderate increase in CAGR of 9.7% from retail sales of US$2.3 billion in 2019, as consumer demand for convenient and perceived healthy food options grew. Relatedly, consumers have reduced their foodservice visits to better control their budgets amidst inflation and the rising cost of living, contributing to further retail sales within the category (Euromonitor International; Meals and Soups in Australia, October 2024).

Ready meals were the predominant category with retail sales of US$1.7 billion (47.6% market share) in 2024. Chilled and frozen formats have driven overall demand and volume growth, as these products are seen as healthier than dry or shelf stable options, while frozen ready meals in particular, offer convenient storage options for future use, as and when needed (Euromonitor International; Meals and Soups in Australia, October 2024). Food kits in comparison, were the best performing category increasing in growth by 25.4% from US$268.7 million in 2019 to US$834.1 million in 2024 (+11.2% from US$750.1 million in 2023).

The market is expected to expand at a CAGR of 5.8% in the forecast period, reaching retail sales of US$4.8 billion by 2029. Chilled ready meals and prepared salads will remain of significant interest as consumers choose convenient and healthier options, although meal kits (including subscriptions) will remain the strongest performer, increasing 8.7% annually in the forecast period. Organic and sustainable options are also anticipated to drive innovation and expansion within the category. Further, health and wellness will continue to influence product innovation in meals and soups as Australian consumers are increasingly focusing on improving their health through areas such as gut health and weight management (Euromonitor International; Meals and Soups in Australia, October 2024).

In the competitive landscape of the meals and soups market, HelloFresh SE (Brand names: HelloFresh and Youfoodz), McCain Foods Ltd (Brand names: McCain, Healthy Choice, Griff's) and Marley Spoon Inc (Brand name: Marley Spoon Inc) were the leading ready meal and soup companies in Australia, accounting for a combined 30.3% market share in 2024. Private label in comparison, represented 21.4% market share in 2024.

Sauces, dips and condiments

The sauces, dips and condiments market grew measurably at a CAGR of 4.3% during the 2019 to 2024 period, with total retail sales attaining US$2.3 billion in 2024, as consumers continued to prepare more frequent meals at home, enhancing dishes with flavour and variety.

In terms of recent category trends, there has been an increase in the availability of larger pack sizes for table sauces such as barbecue sauces, ketchup, mustard, and salad dressings, to meet the needs of budget-conscious Australians. Relatedly, the value growth of sauces, dips and condiments is not only supported by increasing demand, but also a marginal rise in the average unit price, driven by rising production and transportation costs. In addition, health and wellness has also had a significant impact on table sauces, as consumers become increasingly cautious about their food choices and health goals. Sauces with less salt and less sugar, as well as products targeting restricted diets are recent offerings developed to cater to a broader range of health and dietary preferences in Australia (Euromonitor International, Sauces, Dips and Condiments in Australia. October 2024).

Sauces were the largest segment of the sauces, dips, and condiment category with retail value sales of US$1.0 billion (46.5% market share), followed by cooking ingredients and condiments valued at US$429.3 million (19.1% market share) in 2024. The dips segment experienced the greatest performance, increasing 5.0% from US$288.3 million in 2019 to US$367.2 million (16.3% market share) in 2024.

The sauces, dips and condiments sector are expected to experience moderate growth, albeit at a lower CAGR of 2.7%, during the forecast period as retail sales reach US$2.6 billion by 2029. The lower retail growth rates will largely be due to the anticipated economic recovery in 2026, which will likely result in a slowdown in meal preparation at home, and a shift back towards convenient meal solutions, resulting in lower demand for traditional cooking products such as sauces, dips, and condiments. Of note, making the cooking process 'easier' for the consumer by providing clear cooking instructions on packaging, as well as offering various flavour fusion options (blending diverse flavours) in sauces, dips and condiments is expected to gain momentum over the forecast period (Euromonitor International, Sauces, Dips and Condiments in Australia. October 2024).

In the sauces, dips and condiment competitive landscape, Mars Inc (Brand names: Masterfoods, Dolmio, Kan Tong and Promite), Kraft Heinz Co (Brand Names: Gravox, Fountain, Heinz, HP and ABC) and Simplot Co, J R (Brand names: Leggo's, Chicken Tonight, Five Tastes and Five Brothers) were the leading companies, representing a combined 23.6% market share in 2024. Private label in comparison, represented a 17.4% market share in 2024.

Sweet spreads

The sweet spreads market experienced moderate growth attaining a CAGR of 4.1% during the historic period, achieving retail sales of US$470.7 million in 2024, improving from US$384.4 million reported in 2019. The category has not benefitted from the trend of greater meal preparation at home, largely because Australians are becoming more mindful of their sugar intake, shifting from high-sugar products such as jams and preserves and chocolate spreads, opting for healthier alternatives instead. As such, sweet spread brands are reformulating their products and adopting natural ingredients and flavours to meet evolving consumer preferences (Euromonitor International; Sweet Spreads in Australia, October 2024).

Nut and seed-based spreads were the largest of the sweet spreads category with retail value sales of US$160.6 million (34.1% market share) in 2024, and the best performing category, registering annual growth of 4.8% from retail sales of US$126.9 million in 2019 (+5.4% between 2023 to 2024). Honey was the second largest, sweet spread category, attaining retail sales of US$136.3 million (29.0% market share) in 2024, increasing 4.6% annually from US$109.1 million in 2019.

The sweet spread market is projected to see measured growth (3.0%) during the forecast period, reaching US$546.2 million by 2029, as more consumers choose healthier options. In addition, Australia's regulatory landscape, Food Standards Australia New Zealand (FSANZ), is becoming more stringent and will reshape the market, mandating brand usage of "no added sugar" claims instead of "no sugar" to prevent misleading claims. The growth prospects for nut and seed-based spreads, however, are more positive, as consumers perceive nut and seed-based spreads as a healthier alternative to traditional sweet spreads, which will increase demand. Honey is also expected to experience continued growth, especially with functional food positioning, capitalising on health-conscious consumer trends. (Euromonitor International; Sweet Spreads in Australia, October 2024).

In the competitive sweet spread market, Bega Cheese Ltd (Brand name: Bega) was the leading spread company in Australia with a market share of 19.8%, followed by Hive & Wellness Australia Pty Ltd (Brand names: Capilano and Wescobee) with a market share of 17.6% and Ferrero & related parties (Brand name: Nutella) with a 12.5% market share in 2024. Private label in comparison, attained retail sales of US$68.2 million, representing a 14.5% market share in 2024.

Dairy products and alternatives

In 2023, Australia's dairy industry faced a significant decline in milk production due to rising production costs, labor shortages, and a shift towards beef farming. Additionally, adverse weather conditions, including floods and heavy rainfall, disrupted operations and reduced feed quality, which led to higher hay prices and increased overall production costs. Despite these challenges, improved weather conditions have supported a rebound in milk production in 2024, moderating dairy retail price inflation. Further, Australians continue to show strong demand for dairy products, particularly cheese, butter, and yogurt, driven by increased at-home consumption. The sustained demand in these key categories helped to maintain market value and demonstrate resilience despite recent economic challenges. (Euromonitor International; Dairy Products and Alternatives in Australia, August 2024).

Key product trends witnessed in 2024 included health and nutrition (high protein, fortified and functional ingredients and lower-caloric options), sustainability (emergent precision fermentation technology), and plant-based development (Euromonitor International; Dairy Products and Alternatives in Australia, August 2024). Supermarkets continue to be the primary distribution channel for dairy products in Australia, however e-commerce has seen notable growth, driven by consumer demand for convenience. Additionally, sales through convenience retailers are rising, particularly for on-the-go dairy products like drinking milk and yogurt (Euromonitor International; Dairy Products and Alternatives in Australia, August 2024).

In the forecast period, demand for dairy products and alternatives will continue, despite challenges presented by smaller sized dairy farms, a decline in farmgate milk prices and higher inflation. Recovery for the sector is projected as the domestic market strengthens and a rebound in national milk production offers a more stable and favourable outlook for the industry in the forecast period (Euromonitor International; Dairy Products and Alternatives in Australia, August 2024).

Baby food

The Australian baby food market declined 4.1% annually during the 2019 to 2024 period, decreasing from US$548.3 million in 2019 to US$444.4 million in 2024 (+3.5% from retail sales of US$429.3 million in 2023), as the category experienced weaker demand challenged by high operational (labour) costs. The high cost of living has also impacted household budgets resulting in many consumers turning to homemade baby food as a cost-saving measure and as a means to incorporate fresh and natural foods into baby's diets from an early age. (Euromonitor International; Dairy Products and Alternatives in Australia, August 2024).

Milk formula was the largest segment of the baby food category with retail value sales of US$258.5 million (58.2% market share) in 2024, despite declining 6.6% annually from US$364.4 million in 2029, while prepared baby food was the second largest segment with retail sales of US$120.9 million (27.2% market share) in 2024 (Euromonitor International; Baby Food in Australia, August 2024),

The baby food market is forecast to recover with a CAGR of 3.3% with retail sales attaining US$523.0 million by 2029. Milk formula is anticipated to experience the greatest growth performance, increasing 4.2% annually from US$258.5 million in 2024 to US$317.1 million in 2029. Further, other baby food is anticipated to increase in CAGR by 3.3% from US$56.3 million in 2024 to US$66.3 million in 2029. In the baby food competitive landscape, Danone, Groupe (Brand names: Aptamil, Kari care and Farex) led sales with a market share of 22.1%, followed by PZ Cussons Plc (Brand name: Rafferty's Garden) with a market share of 12.4% and China Mengniu Dairy Co Ltd (Brand name: Bellamy's Organic) with a market share of 12.2% in 2024. Private labels in comparison, attained retail sales of US$30.4 million (6.8% market share) in 2024.

Dairy

The dairy category was the largest packaged food category in Australia with retail sale values of US$7.3 billion (19.5% market share) in 2024, increasing 5.3% in CAGR from retail sales of US$5.6 billion in 2019. Drinking milk products was the largest dairy segment with retail sales of US$2.7 billion (36.7% market share) in 2024. Milk, as a staple product in Australian households, attained per capita consumption ranking among the highest globally, indicating consistent demand. Private labels as well as demand for full fat fresh milk have shown robust growth, as more consumers prioritize less costlier options, while maximizing the health benefits offered by milk. Further, flavoured milk drinks are increasing in demand as a healthier alternative to sugary beverages, providing essential nutrients such as calcium and protein to the consumer (Euromonitor International; Drinking Milk Products in Australia, August 2024.

Cheese was the second largest dairy segment with retail sales of US$2.1 billion (28.5% market share), increasing 6.9% annually from US$1.5 billion in 2019. Cheddar remains the most popular variety however, non-cheddar cheese varieties have become increasingly prevalent, reflecting changing consumer preferences. In addition, on-the-go snacking as a significant consumption occasion for cheese and shifting consumer preferences for products that are natural and nutritious, including plant-based, functional and those with dietary restrictions, are fueling the growth of the cheese in the Australian market (Euromonitor International; Cheese in Australia, August 2024).

The yoghurt and sour milk product category experienced the greatest performance of the dairy segments, increasing 7.9% in CAGR as retail sales grew from US$947.9 million in 2019 to US$1.4 billion in 2024 (+8.6% from retail sales of US$1.3 billion in 2023). The demand for yoghurt and sour milk products remains robust, propelled by the popularity of yoghurt as a convenient and healthy snack option. In terms of segment products, traditional and unflavoured yogurt varieties as well as functional properties including high protein, probiotics and vitamins, are increasing. A related product, drinking yogurt, is positioned to increase in growth, guided by continuing health trends, the popularity of probiotic cultures, and the convenience provided by the products' on-the-go features (Euromonitor International; Yoghurt and Sour Milk Products in Australia, August 2024).

Butter and spreads, and other dairy remain the smaller segments within the dairy category in Australia, attaining retail sales of US$556.5 million (7.6% market share) and US$597.2 million (8.2% market share) respectively, in 2024. Aligning with the growing popularity of Keto and paleo diets, there is growing consumer interest in perceived healthier alternative butter and spread options, stimulating product innovation via sustainability, premiumization and cost effective (both budget and private lapel) options (Euromonitor International; Butter and Spreads in Australia, August 2024). Similarly, the other dairy segment including chilled dairy desserts and custards, has witnessed increasing demand, prompted by a growing consumer preference for premium products, enhanced with superior ingredients, innovative flavours, and upscale packaging. In addition, interest in plant-based dairy is expected to continue as consumers place greater emphasis on health, sustainability, and specific dietary preferences. Relatedly, advances in taste, texture, and nutritional content are driving greater adoption of these alternatives (Euromonitor International; Other Dairy in Australia, August 2024).

The dairy market is expected to expand at a CAGR of 4.0% in the forecast period, reaching retail sales of US$8.9billion by 2029, despite several anticipated challenges including the shrinking size of dairy farms, the decline in farmgate milk prices and ongoing pressures from high inflation. There is optimism that the market will recover as global demand for dairy projects is projected to recover, strengthening Australia's market and national milk production (Euromonitor International; Dairy Products and Alternatives in Australia, August 2024).

In terms of competitive landscape, Bega Cheese Ltd (top brand names: Dairy Farmers, Bega, Dare, Farmers Union and Pura), was the leading dairy company in Australia, accounting for a 15.0% market share, followed by Lactalis, Groupe (top brand names: Pauls, Oak, Jalna, Vaalia, Zymil, Tamar Valley and Lemnos) with a 12.3% market share and Fonterra Cooperative Groupe Ltd (Brand names: Perfect Italiano, Mainland and Western Star) with a 6.1% market share in 2024. Private labels in comparison, attained retail sales of US$2.0 billion (27.5% market share) in 2024.

Plant-based dairy

The plant-based dairy market expanded 6.1% in CAGR during the 2019 to 2024 period, with total retail sales valued at US$317.7 million (3.9% market share of dairy products and alternatives) in 2024, as product unit prices stabilized, and consumer interest, guided by continuing health and wellness trends endured.

Plant-based milk was the largest segment with retail sales of US$254.5 million (80.1% market share), while plant-based cheese, despite a smaller market share of 4.0%, experienced the greatest growth, increasing 55.2% annually from US$1.4 million in 2019 to US$12.6 million in 2024 (+15.6% from US$10.9 million in 2023). Further, plant -based yoghurt has garnered recent growth, integrating nutritional benefits such as probiotics, prebiotics, and vitamins, while plant-based milk has witnessed diversification, integrating new alternatives such as oat and almond milk to complement soy product options (Euromonitor International; Plant-Based Dairy in Australia, August 2024).

The plant-based dairy sector is expected to continue to experience increased growth, with a CAGR of 6.0% during the forecast period, reaching US$424.9 by 2029, as consumers continue to embrace plant-based options, fueled by health, environmental and ethical concerns. Expansion of plant-based dairy will also be guided by increasing vegan and vegetarian populations, and novel flavour profiles, including unique combinations and improved taste experiences, are expected to attract both existing and new plant-based milk consumers (Euromonitor International; Plant-Based Dairy in Australia, August 2024).

With respect to the competitive landscape, Australasian Conference Association Ltd (Brand name: So Good) held a majority of the market share (23.1%), while Vitasoy International Holdings Ltd (Brand names: Vitasoy) maintained a 17.4% market share in 2024. Private labels in comparison, attained retail sales of US$23.6 million (7.4% market share) in 2024.

Staple foods

The trend of home meal preparation continued to drive the solid performance of staple foods in Australia, for categories such as rice, pasta and noodles, and shelf stable seafood. Health consciousness among local consumers continued to evolve, with a stronger focus on health claims. Further, FSANZ has introduced stringent guidelines on sugar claims to prevent misleading consumers, compelling brands to be more transparent in their ingredient lists and health claims. Consumers are increasingly paying attention to front-of-pack health claims, such as the Health Star Rating (HSR), with the shelf stable format category (which often boasts a high HSR), benefitting the most from this label (Euromonitor International; Staple Foods in Australia, October 2024). Private label has a strong presence within the competitive landscape of staple foods, as consumers continue to prioritize value and gravitate toward slower priced alternatives. Relatedly, supermarkets remain the dominant distribution channel for staple foods in Australia, however discounters are increasing in popularity (Euromonitor International; Staple Foods in Australia, October 2024).

In the forecast period, sustainability will remain important, yet consumers are increasingly reluctant to pay extra for sustainable products, as these are now considered a baseline expectation for consumers (Euromonitor International; Staple Foods in Australia, October 2024).

Baked goods

Baked goods were the second largest category of packaged food in Australia with retail sales of US$5.5 billion (14.7% market share) in 2024. The market grew by an increase in CAGR of 3.6% during the 2019 to 2024 period, increasing in retail sales from US$4.6 billion in 2017. Retail volume sales of baked goods remained uniform in 2024 due to consumers adjusting their spending habits to the high cost of living. Private label remained a key aspect of baked goods in Australia and was anticipated to gain further retail value share in 2024, as price-sensitive consumers continue to prioritise value.

Bread was the largest baked good segment with retail value sales of US$3.7 billion (67.7% market share) in 2024, attaining measured annual growth of 2.8% from US$3.2 billion in 2019. The category experienced a decline in volume growth in 2024 as more consumers chose more affordable options such as rice and pasta, contributing to a marginal drop in demand. Cakes were the second largest segment with retail sales of US$872.1 million (15.8% market share) in 2024, increasing 6.0% in annual sales from US$653.1 million in 2019 (+10.9% annually between 2023 to 2024), as economic uncertainty encouraged some consumers to shift from foodservice purchases to supermarkets and private label ranges, which offered more affordable and diverse options (Euromonitor International; Baked Goods in Australia, October 2024).

In the forecast period, baked goods are expected to remain stable, increasing 3.5% in CAGR from US$5.5 billion in 2024 to US$6.6 billion by 2029 as demand for the product continues via retail and foodservice channels post-pandemic. Demand for artisanal products offered through the foodservice channel is expected to remain as a staple of consumer preference. The growing emphasis on health consciousness will be a key driver shaping the development of baked goods in the coming years (Euromonitor International; Baked Goods in Australia, October 2024).

With respect to competition, Artisanal companies yielded a majority (55.3%) market share in 2024, while Wilmar International Ltd (Brand names (top): Helga's, Wonder White, La Famiglia, Country Life Bakery, Lawson's Traditional, Mighty Soft and Pampas ) was the largest baked good company in Australia, accounting for a 8.9% market share, while Associated British Foods Plc (Brand names (top): Tip Top, Abbott's Village Bakery, Golden and Bürgen), accounted for an 8.8% market share respective in 2024. Private labels in comparison, accounted for a 15.5% market share in 2024.

Breakfast cereals

The breakfast cereal category experienced a CAGR of 3.7% during the historic period, increasing from retail sales of US$815.5 million in 2019 to US$979.3 million in 2019, as demand remained stable and undynamic as many Australians transitioned to other staple foods for breakfast, or increasingly opting to relinquish breakfast altogether, choosing instead to have a more substantial lunch. Further, many Australians now associate packaged breakfast cereals with ultra-processed, sugary foods, prompting a move towards alternative breakfast options. In addition, the average unit price of breakfast cereals continues to increase, encouraging consumers to shift to private label products that offer more affordable options (Euromonitor International; Breakfast Cereals in Australia, October 2024).

Ready-to eat- (RTE) cereals was the larger segment in the breakfast cereals category recording retail sales of US$833.8 million (85.1% market share) in 2024, while hot cereals attained retail sales of US$145.6 million in 2024, representing the greater segment performance, increasing 5.0% annually from US$113.9 million in 2019.

The market is expected to expand at a measured CAGR of 1.7%, increasing from US$979.3 million in 2024 to US$1.1 billion by 2029, as health trends and regulatory pressures (sugar claims on packaging has been revised and are more transparent) are expected to slow growth of breakfast cereals in the forecast period. Of note, the "on-the-go" format is expected to gain greater share of the category over the forecast period, due to greater mobility outside of the home (Euromonitor International; Breakfast Cereals in Australia, October 2024).

In the breakfast cereal competitive landscape, Kellanova (Brand names (top): Kellogg's Nutri-Grain, Kellogg's Special K, Kellogg's Sultana Brand, Kellogg's Coco Pops, Kellogg's All Bran), Cereal Partners Worldwide SA (Brand names (top): Uncle Tobys, Vita Brits and Milo) and Australasian Conference Association Ltd (Brand names: Weet-Bix and Sanitarium) were the leading companies, representing a combined market share of 65.9% in 2024. Private labels in contrast, represented a 11.5% market share in 2024.

Processed fruit and vegetables

Processed fruit and vegetables (shelf stable and frozen processed) experienced moderate growth at a CAGR of 5.1%, increasing from US$1.2 billion in 2019 to US$1.5 billion in 2024, as Australians continue to face high living costs and are increasingly cooking at home, prioritizing value, convenience (less preparation offered by pre-cut options) and the perceived health benefits of processed fruit and vegetable purchases. These processed options not only save time in meal preparation but also provide a cost-effective alternative to cooking meals from scratch using fresh vegetables. Of interest, although the Australian market once emphasized the importance of using local ingredients to promote sustainability, the current market is prioritizing consumer demand for value, increasing competition from cheaper imports (Euromonitor International; Processed Fruit and Vegetables in Australia, October 2024).

Frozen processed fruit and vegetables were the slightly larger and better performing segment with retail sales of US$786.1 million (52.4% market share) in 2024, increasing 5.4% annually from US$602.9 million in 2019, while shelf stable fruit and vegetables attained retail sales of US$714.9 million in 2024.

The forecast for the processed fruit and vegetable market is expected to expand at a measured CAGR of 2.6%, reaching retail sales of US$1.7 billion by 2029, as more consumers return to foodservice throughout 2026. Between 2024 to 2029 however, overall growth in the segment is expected to be guided by increasingly healthy and environmentally conscientious consumers seeking high HSRs, nutritious and functional ingredients and sustainable products (Euromonitor International; Processed Fruit and Vegetables in Australia, October 2024).

In terms of the competitive landscape, Simplot Co, J R (Brand names: Birds Eye and Edgell), McCain Foods Ltd (Brand name: McCain) and Shepparton Partners Collective Pty Ltd (Brand names: SPC, Goulburn Valley and Ardmona) were the leading processed fruit and vegetable companies in Australia, accounting for a combined 39.7% market share in 2024. Private labels in comparison, represented moderate retail sales of US$600.7 million (40.0% market share) in 2024.

Processed meat, seafood and alternatives to meat

The processed meat, seafood and alternatives to meat category grew 4.9% in CAGR increasing from retail sales of US$2.3 billion in 2019 to US$2.9 billion in 2024, as the average unit price of processed meat, seafood and alternatives to meat increased retail values sales, while retail volumes sales increased primarily due to the perceived convenience offered by the category. Recently however, both retail volume and sales growth has decreased as more consumers reduce their meat consumption (Euromonitor International; Processed Meat, Seafood and Alternatives to Meat in Australia, October 2024).

In terms of category trends, convenience of the processed product, in terms of storage and ease of preparation, continue to influence purchase decisions. In addition, promotion options offered by shelf stable options also influence consumers purchase decisions, prioritizing products that offer better value (Euromonitor International; Processed Meat, Seafood and Alternatives to Meat in Australia, October 2024).

Processed meat was the largest of the processed meat, seafood, and alternatives category with retail value sales of US$1.7 billion (57.7% market share) in 2024, increasing 4.4% in CAGR from US$1.3 billion in 2019. Processed seafood was the second largest category attaining retail sales of $US1.1 billion (37.6% market share) in 2024 (+5.0% annually from US$851.7 million in 2019), while the meat and seafood substitutes category, despite lower retail sales of US$130.0 million (4.5% market share) in 2024, experienced the greatest performance of the processed category, increasing 13.4% in CAGR from US$69.6 million in 2019.

The processed meat, seafood and alternatives to meat segment is expected to experience measured growth with a CAGR of 2.9% during the forecast period as retail sales are anticipated to expand from US$2.9 billion in 2024 to US$3.3 billion by 2029. Health and wellness are expected to influence the consumer's food purchases over the forecast period, specifically those shelf stable products that feature HSRs. Sustainability is also expected to shift from a premium feature to an expected standard, highlighting a growing demand for brands to substantiate their sustainability efforts to avoid misleading consumers. Interest in meat and seafood substitutes is expected to grow as Australians following a flexitarian diet are reducing their meat consumption for health reasons, budget constraints, and environmental concerns (Euromonitor International; Processed Meat, Seafood and Alternatives to Meat in Australia, October 2024).

Simplot Co, J R (Brand names: John West, Birds Eye and Seakist), JBS SA (Brand names: Primo, Hans and Mayfair) and Ingham Enterprises Pty Ltd (Brand names: Ingham and Chickadee) were the leading companies in the fragmented processed meat, seafood and alternatives to meat competitive landscape, representing a combined market share of 28.0%, while private label represented US$1.0 billion (36.1% market share) in 2024.

Rice, pasta and noodles

The rice, pasta and noodle category experienced a moderate CAGR of 7.8%, increasing in retail value sales from US$769.8 million in 2019 to US$1.1 billion in 2024. Retail volumes sales grew in 2024, attributed to the consumer's increasing financial pressure, leading to more home cooking as a cost-saving measure (Euromonitor International; Rice, Pasta and Noodles in Australia, October 2024).

Pasta was the largest segment of the rice, pasta and noodles category with retail values of US$402.6 million (35.9% market share) in 2024, increasing in CAGR by 7.7% from US$277.4 million in 2019, while noodles was the best performing category within the historic period, increasing in CAGR by 8.0% from US$255.0 million in 2019 to US$374.5 million in 2024, as consumer preference for convenience and easy-to-cook options propelled volume growth (Euromonitor International; Rice, Pasta and Noodles in Australia, October 2024).

In the forecast period, the rice, pasta and noodle category are anticipated to increase by a lower CAGR of 4.2% to reach US$1.4 billion by 2029. Convenience is expected to remain an influence in the growth of the category, guided by shifting work dynamics and the need for quick and convenient meal solutions. Meeting evolving dietary requirements such as gluten free or keto options, while offering more diverse and novel flavours, in sustainable packaging, is also anticipated to become an integral part of the consumer's purchasing decisions between 2024 to 2029. (Euromonitor International; Rice, Pasta and Noodles in Australia, October 2024).

In the rice, pasta and noodles competitive landscape, Rice Growers Ltd (Brand names: Sunrice, Riviana, Koala and Mahatma), San Remo Macaroni Co Pty Ltd (Brand names: San Remo, Fantastic, Zaferelli, Suimin and Balducci) and General Mills Inc (Brand name: Latina Fresh) were the leading companies, representing a combined market share of 41.2% in 2024. Private labels in contrast, represented a 18.6% market share in 2024.

Snacks

According to Euromonitor International, the snack market in Australia has been measured due to recent, high inflation and interest rates, positioning consumers with less money to spend on non-essential items. Further, consumers are seeking healthier snack options, with claims including low in calories and salt/sugar or high in protein, while some consumers are choosing to substitute meals for snacks to help address higher costs of living, or simply for convenience purposes.

Seasonal snacks, particularly chocolate confectionery, continue to play a significant role during holiday seasons, as there remains consumer willingness to spend marginally more on snacks despite financial challenges. Supermarkets remain the key distribution channel for snacks due to the impulse purchase nature of these products, while convenience retail is also recognized as an important channel with growth potential in meeting consumer demand for convenient access to snacks (Euromonitor International; Snacks in Australia, July 2024).

Health and wellness will remain a priority; however, consumers will continue to treat themselves, despite the minimal health benefits associated with indulgent snacks. Private label is anticipated to expand into the premium segment, improving quality and introducing more product options, challenging the established strategy of offering cheaper product alternatives (Euromonitor International; Snacks in Australia, July 2024).

Confectionery

The Australian confectionery market grew by an increase in CAGR of 3.3% during the 2019 to 2024 period, increasing in retail sales from US$2.9 billion to US$3.5 billion. Chocolate confectionery was the largest and best performing segment, expanding in CAGR by 3.9% from retail sales of US$1.9 billion in 2019 to US$2.3 billion (67.3% market share) in 2024, as recent increases in the average unit price of chocolate confectionery (due to climate and economic issues increasing production costs of cocoa) helped stimulate retail value growth in 2024. Recent category developments include ethical sourcing and packaging, while cocoa supply concerns are projected to continue, contributing to sustained higher confectionery prices, as holiday periods and gifting seasons are expected to remain important for chocolate sales (Euromonitor International; Chocolate Confectionery in Australia, July 2024).

Sugar confectionery was the second largest segment with retail sales of US$955.1 million (27.6% market share) in 2024, representing an increase in CAGR of 2.3% from US$850.5 million in 2019, as more consumers look for healthier snack alternatives with more nutritional value. The introduction and expansion of healthier product alternatives (including those plant-based and vegan claims/labels), and greater sustainable (recyclable packaging) products will remain significant to category growth and innovation (Euromonitor International; Sugar Confectionery in Australia, July 2024).

The gum segment attained retail sales of US$177.1 million (5.1% market share) in 2024, representing an expansion of 1.0% annually from US$168.6 million in 2019, as consumer demand for the category diminishes. Functional ingredients, sustainable packaging and biodegradable options yield potential growth opportunity for the category in the forecast period. (Euromonitor International; Gum in Australia, July 2024).

In the forecast period, confectionery is expected to improve and expand at a higher CAGR of 4.8%, increasing from US$3.5 billion in 2024 to US$4.4 billion by 2029. Similarly, all segments of confectionery are expected to perform with higher annual growth rates in the forecast period.

With respect to competition, Mondelez International Inc (Brand names (top): Cadbury, Cadbury Dairy Milk, The Natural Confectionery Co, Pascall and Toblerone) was the largest confectionery company in Australia, accounting for a 28.9% market share, while Mars Inc (Brand names (top): Extra, M&M's, Eclipse, Mars, Maltesers and Snickers) and Nestlé SA (Brand names (top): Allen's, Kit Kat, Smarties, Crunch, Galak/Milkybar and Rolo), accounted for a 16.8% and 10.1% market share respectively, in 2024. Private labels in comparison, yielded retail sales of US$294.2 million (8.5% market share) in 2024.

Ice cream

Ice cream experienced continued growth at a CAGR of 3.4%, increasing from retail sales of US$1.7 billion in 2019 to US$2.1 billion (19.6% of the snack market share) in 2024, as unit prices of most dairy-based products has grown on account of the increasing cost of milk (production), leading to declining retail volumes. Given the indulgent nature of ice cream as a snack, premium options tend to perform well while health-positioned ice cream is not a priority for many consumers, where preferences for flavour and value (the two most important product features) remain popular (Euromonitor International; Ice Cream in Australia, July 2024).

Take-home was the largest ice cream segment with retail sales of US$1.6 billion (78.3% of the market share), increasing 3.4% in CAGR from US$1.4 billion in 2019, followed by impulse ice cream with retail sales of US$369.7 million (18.0% market share) in 2024. Of note, plant-based ice cream was the best performing category, experiencing annual growth of 9.8% as retail sales grew from US$19.0 million in 2019 to US$30.3 million (1.5% market share) in 2024.

The market is expected to expand at an additional CAGR of 5.5% from retail sales of US$2.1 billion in 2024 to US$2.7 billion by 2029, as retail volume growth is expected to remain limited due to evolving and healthier dietary habits of consumers. Opportunities remain for frozen yogurt as a potential healthier alternative to ice cream, while demand for impulse ice cream, with competitive pricing and product variety, is anticipated to improve (Euromonitor International; Ice Cream in Australia, July 2024).

In terms of competitive landscape, Unilever Group (Brand names (top): Magnum, Blue Ribbon, Ben & Jerry's, Weis and Paddle Pop) was the prominent manufacturer in the Australian ice cream market with a 32.7% share, followed by Nestlé SA (Brand names: Peters, Maxibon, Skinny Cow and Life Savers) and Regal Cream Products Pty Ltd (Brand name: Bulla), attaining a 24.9% and an 9.2% market share respectively, in 2024. Private labels attained retail sales of US$222.7 million (10.8% market share) in 2024.

Savoury snacks

The savoury snack market grew by a CAGR of 4.7%, increasing from retail sales of US$2.5 billion in 2019 to US$3.2 billion in 2024. Salty snacks were the largest segment with retail sales of US$1.7 billion (53.1% market share) in 2024 and experienced a CAGR of 4.0% as retail sales grew from US$1.4 billion in 2019, as recent volume sales respond to the increasing average price of potato chips, relative to savoury snacks (Euromonitor International; Savoury Snacks in Australia, July 2024).

Savoury biscuits as the second largest segment, increasing 3.6% annually from retail sales of US$569.7 million in 2019 to US$679.7 million (21.4% market share) in 2024. Popcorn and the nuts, seeds and trail mixes segments experienced the best performances, increasing 9.4% and 7.6% in CAGR respectively, between 2019 to 2024. Of note, demand for nuts, seeds and trail mixes has grown, benefitting from consumers looking for organic (clean, limited and simple ingredients) options (Euromonitor International; Savoury Snacks in Australia, July 2024).

The savoury snack category is expected to experience moderate growth at a CAGR of 5.6% during the forecast period, increasing from US$3.2 billion in 2024 to US$4.2 billion by 2029, as the more nutritional aspects of the category are anticipated to remain in demand. Further, private label is poised for growth as price-conscious consumers look to maintain snacking habits (Euromonitor International; Savoury Snacks in Australia, July 2024).

In terms of competitive landscape, PepsiCo Inc (Brand names (top): Lay's, Nobby's, Doritos, Red Rock Deli, Sakata, Twisties and Grain Waves), Campbell Soup Co (Brand names (top): Shapes, Jatz/Savoy, Vita Weat, Cruskits and Salada) and Intersnack Group GmbH & Co KG (Brand names (top): Kettle, Thins, Natural Chip, CC's, Tyrrells and Cheezels), were the leading companies representing a combined market share of 45.6%, in 2024. Private labels in comparison, yielded retail sales of US$610.1million, representing a moderate market share of 19.2% in 2024.

Sweet biscuits, snack bars and fruit snacks

The sweet biscuits, snack bars and fruit snacks category experienced an increase in CAGR of 3.5% in the historic period, increasing from US$1.5 billion in 2019 to US$1.8 billion in 2024. Sweet biscuits, often positioned as an indulgent treat, represented the predominant segment of the category with retail sales of US$950.4 million (53.3% market share) in 2024, increasing in CAGR by 3.4% from US$806.0 million in 2019, while snack bars were the best performing segment, increasing in CAGR by 4.4% from US$459.0 million in 2019 to US$568.5 million in 2024 (+3.2% from US$551.1 million in 2023). Further, there is an increase in demand for protein/energy bars, reflecting the changing dietary habits of consumers seeking to replace their snacks with a protein alternative (Euromonitor International; Sweet Biscuits, Snack Bars and Fruit Snacks in Australia, July 2024).

The sweet biscuits, snack bars and fruit snack market are expected to increase by a CAGR of 3.3% from US$1.8 billion in 2024 to US$2.1 billion by 2029. Private label has the potential to gain greater positioning within the snack category with an increase in the range of offerings developed, while health and wellness will continue to lead new product development (Euromonitor International; Sweet Biscuits, Snack Bars and Fruit Snacks in Australia, July 2024).

In regards to competitive landscape, the sweet biscuits, snack bars and fruit snack market in Australia is led primarily by Arnott's Biscuits Ltd (Brand name: Arnott's) with retail sales of US$402.4 million (22.6% market share), followed by Mondelez International Inc (Brand names (top): Oreo, Belvita, Cadbury and Cliff), with a 5.5% market share, followed by Bright Food (Group) Co Ltd (Brand names: Sunbeam, Angas Park and Golden Days) with a 5.0% market share in 2024. Private labels in comparison, yielded retail sales of US$378.2 million (21.2% market share) in 2024.

New product launch analysis

According to Mintel's Global New Products Database (GNPD), there were a total of 40,048 packaged food products launched in the Australian market from January 2019 to December 2024. The number of yearly product launches has decreased slightly in growth by a CAGR of 0.1% from a launch of 6,917 packaged food products in 2019 to the most recent launch of 6,894 packaged food products in 2024. Of note, new product launches of packaged food experienced the largest increase in annual growth (5.8%) from 2022 to 2023 as product launches increased from 6,411 to 6,783 products and experienced the largest contraction in annual growth (5.0%), from 6,917products released in 2019 to 6,569 products in 2020.

The predominant categories of packaged food products released during the prescribed period were bakery (6,139 products), processed fish, meat, and egg products (5,571 products), sauces and seasonings (4,505 products), snacks (4,214 products) and meals & meal centers (4,126 products). The most popular product claim was no additives/preservatives (17,260 products), followed by free from added/artificial colourings (14,564 products) and free from added/artificial flavourings (13,588 products). The companies with the largest number of total new product launches from 2019 to 2024 included Coles Supermarkets with (2,554 products), followed by Woolworths (2,527 products) and Aldi (2,111products). Almost half (46.2%) of the total products launched were new variety/range extensions (18,506 products), whereas 24.4% and 23.7% were new product and packaging launches (9,781 and 9,480 products), respectively.

Top flavours included unflavoured/plain (11,661 products), followed by chocolate (929 products), strawberry (483 products), smoke (436 products) and vanilla/bourbon/Madagascar (418 products), while prominent ingredients included salt (21,891 products), white sugar (20,151 products) and waters (15,106 products) launched between 2019 to 2024. The top five packaging types included flexible packaging (15,100 products), trays (5,456 products), flexible stand-up pouch (3,677 products), tub (3,308 products) and jars (3,099 products).

Australia was the primary location of manufacture with 23,076 total products, followed by Italy with 1,336 products, New Zealand with 1,164 products, Thailand (1,091 products) and China with 981 products during 2019 to 2024. Canada in comparison was the twenty-fifth largest location of manufacture with a total of 109 products released during the same period.