Australia Food and Beverages Market Report and Forecast 2024-2032

Australia Food and Beverages Market Outlook

The Australia food and beverages market size reached USD 90.2 billion in 2023. The market is expected to grow at a CAGR of 4.3% between 2024 and 2032, reaching USD 132.7 billion by 2032.

Key Takeaways:

• The USDA notes that Australia's food, drink, and grocery sectors make up around 33% of its manufacturing.

• DAFF predicts a 2% rise in poultry meat production value, hitting $3.9 billion in 2024-25, stimulating market demand.

• DAFF expects a 2% growth in pork meat production value, reaching an estimated $1.7 billion by 2024-25.

Meat, fish, and poultry enhance Australia food and beverage market, providing crucial high-quality protein essential for muscle growth and body function

Meat, fish, and poultry serve as excellent protein sources essential for building muscle. They are packed with crucial nutrients such as iron, zinc, and B vitamins, promoting overall well-being. Their adaptability makes them suitable for various culinary styles, catering to a wide range of tastes. Convenient options are tailored for busy lifestyles, while their cultural significance appeals to those seeking genuine culinary experiences.

Dairy products are abundant in calcium and Vitamin D, which are vital for maintaining strong bones. They provide high-quality protein necessary for muscle development, with fermented variations supporting gut health. Their versatility in cooking makes them convenient and culturally relevant, with speciality choices and plant-based alternatives introduced to meet diverse preferences.

In October 2023, Asembl partnered with Menz Violet Crumble and Bulla to introduce a branded Violet Crumble ice cream on a stick. This offering is now available in Coles, Woolworths, IGA, and other select locations, as both a four-pack and single-serving option at Coles Express and 7-Eleven, bringing iconic flavours to the freezer section.

Market Segmentation

Australia Food and Beverages Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Fruits and Vegetables

• Meat, Fish, and Poultry

• Dairy Products

• Frozen and Processed Foods

• Coffee and Tea

• Non-Dairy Beverages

• Alcoholic Beverages

• Others

Market Breakup by Nature

• Organic

• Conventional

Market Breakup by Process

• Processed

• Unprocessed

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets

• Convenience Stores

• Online

• Others

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Australian Capital Territory

• Western Australia

• Others

The Australia food and beverages market key players are Nestlé SA, PepsiCo Inc., JBS SA, Tyson Foods, Inc., Anheuser-Busch Inbev SA, General Mills, Inc., The Coca-Cola Company, Mars, Incorporated, Mondelez International, Inc. and Asahi Group Holdings, Ltd. among others.

Key Highlights of the Report