Everyone wants to come home to a warm and hearty home-cooked dinner. But having time to shop and prepare such a meal and the subsequent clean-up, often leave consumers wanting a no-fuss and fail-safe ready-made meal (RMM). 

Historically, the global RMM market consisted of frozen meals. However, in recent years, precooked or pre-packaged meals have become healthier alternatives to junk food and a cheaper substitute to eating out. Currently, Asia–Pacific (APAC) accounts for 33% of the global RMM market. The region is predicted to record a compound annual growth rate (CAGR) of 5.4% from AUD $42.6 billion to AUD $55.0 billion by 2023. Similarly, the Australian market is expected to grow at a CAGR of 5.9% to AUD 1.6 billion by 2024 according to data and analytics company GlobalData.

Figure 1: Value of RMM market in Australia