Private label benefits from rising price-sensitivity
The recent rise in the cost of living and inflation hikes have positively impacted the performance of private label brands in staple foods, with this segment gaining market share as a result. Consumers are currently highly price sensitive, which lends itself well to private labels which are typically priced lower than most of their competitors in the market. For staple foods, which consumers need to purchase and are often not considered optional, the result has been consumers switching to purchasing private label options more often. Notably, more consumers are shopping more often at Australia’s only major discounter, Aldi, whose offer is predominantly comprised of private label products, with only a few mainstream brands. While consumers may have doubts about quality when it comes to private label, price is the most important factor at the moment and consumers are proving able to adapt and compromise.
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Overview:
Understand the latest market trends and future growth opportunities for the Staple Foods industry in Australia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Staple Foods industry in Australia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Staple Foods in Australia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Staple Foods in Australia?
- Which are the leading brands in Staple Foods in Australia?
- How are products distributed in Staple Foods in Australia?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Staple Foods?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Australia?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Staple Foods in Australia
Private label benefits from rising price-sensitivity
KEY DATA FINDINGS
Economic conditions continue to weigh on consumers’ minds
Changing consumption habits
Essential status to provide resilience
Changing lifestyles and behaviours
Targeting budget conscious consumers
Retailers lead the market
Private label dynamism
Supermarkets is the dominant channel
Supermarkets is the dominant channel
COUNTRY REPORTS DISCLAIMER
Baked Goods in Australia
KEY DATA FINDINGS
Private label benefits from consumer price-sensitivity
Price driving growth amidst strong demand for baked goods
Cakes taps into enduring demand for indulgence
Consistent demand for baked goods with category maturity being very high
Functional claims becoming a category standard as consumers demand better-for-you options
Artisanal baked goods manufacturers to face more pressure from packaged brands
Goodman Fielder retains lead despite share drop
Private label brands leveraging price advantage as consumers seek value
Minimal development in channels of distribution
E-commerce growth
Breakfast Cereals in Australia
KEY DATA FINDINGS
Many health-conscious consumers turn their backs on breakfast cereals
Breakfast cereals struggling to generate growth due to changing consumer habits
Other RTE cereals benefiting from ongoing appeal of Weat-Bix
Health trends set to impact volumes
Manufacturers respnding to consumer demand for healthier options
Growing demand for on-the-go options
Competitive landscape remains relatively static in a highly mature market
Carman’s Fine Foods benefits from versatiltiy of muesli and granola
Consumer shopping patterns relatively unchanged
E-commerce seeing gradual gains
Processed Fruit and Vegetables in Australia
KEY DATA FINDINGS
Health-conscious consumers appreciate minimal processing of many products
Uncertainty around prices and value-seeking behaviour driving growth
Shelf stable vegetables maintaining strong performance
Steady performance forecast for category due to importance to consumer households
Large number of Australians not consuming enough fruit and vegetables presents market opportunity
Stockpiling to contribute to category growth as consumers shop smarter
Top brands consolidating strong market position despite fragmented landscape
Aldi benefiting from consumer budget consciousness
Supermarkets reign as premier distribution channel despite some shift in consumer behaviour
E-commerce benefiting from consumer demand for convenience and particular qualities of processed products
Processed Meat, Seafood and Alternatives To Meat in Australia
KEY DATA FINDINGS
Plant-based diet trends shapes sales
Processed meat, seafood and alternatives to meat maintains healthy demand
Evolving health trends dampen demand for highly processed meat and seafood substitutes
Category performance set to benefit from increase in consumer spending
Consumer perception of processed food a key challenge for the category
New product development in focus in a highly competitive space
Static competitive landscape as private labels maintain strong position in the market
Simplot Australia benefiting from demand for less expensive sources of protein
Less consolidated retail landscape
E-commerce continues to gain share amidst static channels of distribution
Rice, Pasta and Noodles in Australia
KEY DATA FINDINGS
Price-sensitive consumers seeking bulk value packs
Demand for staple carbohydrates strong amidst higher cost of living
Rice sees strongest growth, supported by interest in new cuisines
Steady growth forecast with consumer demand remaining consistent
Healthy options to keep category relevant to consumers in the long term
Demand for convenience to remain strong growth driver over forecast period
Minimal changes in competitive landscape due to limited category innovation
Growing opportunities for private labels to retain new influx of customers
Supermarkets leads sales of rice, pasta and noodles
E-commerce experiencing rapid growth as consumers shift to online grocery shopping
COUNTRY REPORTS DISCLAIMER
The following categories and subcategories are included:
Staple Foods
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- Packaged Flat Bread
- Unpackaged Flat Bread
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- Packaged Leavened Bread
- Unpackaged Leavened Bread
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- Packaged Cakes
- Unpackaged Cakes
- Dessert Mixes
- Frozen Baked Goods
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- Packaged Pastries
- Unpackaged Pastries
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- Sweet Pies and Tarts
- Frozen Cakes, Sweet Pies and Tarts
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- Hot Cereals
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- Children's Breakfast Cereals
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- Flakes
- Muesli and Granola
- Other RTE Cereals
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- Shelf Stable Beans
- Shelf Stable Fruit
- Shelf Stable Tomatoes
- Shelf Stable Vegetables
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- Frozen Fruit
- Frozen Processed Potatoes
- Frozen Processed Vegetables
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- Shelf Stable Processed Red Meat
- Shelf Stable Processed Poultry
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- Chilled Processed Red Meat
- Chilled Processed Poultry
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- Frozen Processed Red Meat
- Frozen Processed Poultry
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- Shelf Stable Seafood
- Chilled Processed Seafood
- Frozen Processed Seafood
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- Chilled Meat and Seafood Substitutes
- Frozen Meat and Seafood Substitutes
- Shelf Stable Meat and Seafood Substitutes
- Tofu and Derivatives
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- Chilled Noodles
- Frozen Noodles
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- Instant Noodle Cups
- Instant Noodle Pouches
- Plain Noodles
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- Chilled Pasta
- Dried Pasta
- Rice
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Staple Foods
NOTE: Couscous, polenta and quinoa are excluded from staple foods.
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This report originates from Passport, our Staple Foods research and analysis database.
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