In 2012 alone, Australians spent more than $1.5 billion on weight loss shakes and products. Making diet shakes is certainly big business, but with so many products on the market, is all your money well spent?

This 2013 report ranks the top 3 best weight loss shake products available in Australia. The results you might find surprising. 2,500 Australians were surveyed by Canstar and provided star ratings out of 5, for six different categories, for 13 popular weight loss shake products. Special commentary by Rebecca Logan of Canstar Blue - the Australian customer satisfaction research and ratings authority.

Watch the video below or read the entire report transcript underneath. 

Weight Loss Shakes Review Video

Weight Loss Shake Product Report Transcript

ACA Reporter Kristina Hazarim: Have you used diet shakes before? Australian man: Yeah I have. About four times a day. I love 'em. 

Kristina Hazarim: When it comes to weight loss shakes, not all are created equal. Australian woman: Some are ok. Some are not. 

Kristina Hazarim: And an Australian study has found effectiveness doesn't have to cost a fortune. 

Rebecca Logan of Canstar Blue: I think it shows quality is not necessarily linked to price when it comes to weight loss shakes. 

Kristina Hazarim: And the overall winner in the battle of diet shakes, might just surprise you. Australians spend millions of dollars on diet pills, shakes and other products every year. Some seem to work, others don't. What this study found was more than half of diet shake users did lose weight and kept it off for at least six months.

Rebecca Logan is from consumer ratings company, Canstar Blue, which commissioned this study comparing big name and less known weight loss shakes. Independant researchers surveryed two and half thousand Australian adults. 

Rebecca Logan: We asked them things about value for money, about taste, about the variety of flavours that were available and how effective they thought the product was. 

Kristina Hazarim: Each of the thirteen products was given a star rating for the six categories. In third place - Nature's Way SlimRight with four stars in each category and three in variety of flavours. 

 Natures Way SlimRight Vanilla Flavour Weight Loss Shake

Nature's Way SlimRight Ranked #3 - However Had The Lowest Cost Per Serve 

Tony Ferguson came in second. Rebecca Logan: Tony Ferguson received some great results in this survey. They also received five stars for the variety of flavours that they offer. 

Kristina Hazarim: Tony Ferguson got four stars in each category and five for flavours. Australian woman: A lot of people like Tony Ferguson. 

Taking out the top spot, with five stars for overall satisfaction, value for money, taste and effectiveness, Aldi Great Life Benifex. Rebecca Logan: Aldi certainly came out on top in terms of just about all of those criteria which we looked at. 

Kristina Hazarim: The cost per serve - Aldi - $1.99. Tony Ferguson - $3.30 and Nature's Way SlimRight - $1.27. 

Rebecca Logan: I think that shows that you can get a great product, not necessarily at the top end of the price scale. 

Kristina Hazarim: Consumers were least impressed with bodytrim, FatBlaster, Optifast and Rapid Loss with each receiving only two stars for overall satisfaction and effectiveness. Rebecca Logan: At the end of the day, effectiveness is essentially what people are after. 

So there we have it. An interesting look into weight loss shake products in Australia. Which weight loss shakes do you like or have you had success with? Would you switch based on the results of this study? Comment below.