Australia Processed Food Market to Grow at Steady Rate till 2026
High expenditure capacity and increased shelf stability of food is expected to drive the demand for Australia processed food market in the forecast period.
According to TechSci Research report, “Australia Processed Food Market By Food Type (Fruits & Vegetables, Seafood, Meat, Others), By Distribution Channel (Traditional Trade, Institutional Sales, Supermarkets/Hypermarkets, Online, Others), By Company, By Region, Forecast & Opportunities, 2026”, Australia processed food market is expected to witness a steady growth in the next five years. The major factor driving the processed food market is the need to ensure safety from any external tampering for maintaining the quality of the food. Processed food is defined as the process of transformation of food to modify them from their natural state by subjecting them to go through cleaning, washing, cutting, heating, blanching, cooking, freezing, packaging, dehydrating, among other processing procedures. Breakfast is taken as the most important meal of the day thereby maximum focus is given on breakfast processed food items such as cereals, milk, eggs, among others. Also, demand for baked food items is on the rise due to consumer preference for the consumption of natural food items. Technological innovations to upgrade the existing infrastructure of the processed food industry and advent of new methods aid the demand for processed food in Australia. Increasing focus on quality packaging of processed food items to ensure that perishable food items are not damaged during the transportation process is augmenting the market demand. Certain standards maintained while packaging the food are that materials used for packaging should not react with the food product. It should be durable in nature and strong enough to withstand the external disturbances.
Social media is considered a major driver for the processed food market growth. High-end investments by key players to run digital campaigns for packaged food promotions is fostering the market demand. Big data analytics are asked to gather data about the consumer preference, choices and engagement to increase the demand for processed food items in Australia. With the help of social media, companies are involved in making the network of customers having similar food preferences, which ultimately leads to a higher customer base and increases the product awareness in the mind of the consumers residing in Australia. Rise in commodity prices in the region is raising the cost for cooking food at home which is generating the need for processed food in Australia. Food can also be processed by adding some nutrients to add a value to the item or inhibit the growth of the bacteria such as milk is fortified with Vitamin D for the prevention of rickets and iodine added to salt to prevent goiter in consumers.
However, chances of food contamination and concerns regarding the health of the consumers may hamper the processed food market growth during the forecast period.
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Australia processed food market is segmented into food type, distribution channel, region, and company. Based on distribution channel, the market is further divided into traditional trade, institutional sales, supermarkets/hypermarkets, online and others. Online segment is dominating the processed food market in 2020 and is expected to maintain its dominance over the forecast period, 2022-2026. A plethora of options are available for consumers and the ease of convenience to buy processed food items is fostering the online market growth in Australia. Lucrative discount and promotional offers by major brands are positively augmenting the demand for processed food market in Australia.
Beak & Johnston Pty. Ltd., Chef’s Pantry, Colonial Farm (Aust) Pty Ltd, Flavour Makers Pty Ltd, H.J. Heinz Company Australia Limited, Australian Convenience Foods Group Pty Ltd, Vesco Foods Pty Ltd, Cerebos Australia Ltd, Flavour Makers Pty Ltd., Kerry Ingredients Australia Pty Ltd, Nestle Australia Ltd. are the leading players operating in the Australia processed food market. Manufacturers are increasingly focusing on research and development processes to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several processed food manufacturers are coming up with their technologically advanced offerings.
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“Consumers prefer food items having low cholesterol and fat, less preservatives and high nutritional value. Adoption of organic food by major players in the processed food industry is accelerating the market demand. Increased brand awareness and access to information about the calories consumed is augmenting the growth of the Australia processed food market. Also, presence of multiple food items by different key players is paving the way for processed food market growth in Australia until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a global research-based management consulting firm.
“Australia Processed Food Market By Food Type (Fruits & Vegetables, Seafood, Meat, Others) By Distribution Channel (Traditional Trade, Institutional Sales, Supermarkets/Hypermarkets, Online, Others) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of the Australia processed food market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Australia processed food market.
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