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Australia Plant Protein Market Size, Share, Trends, Analysis: By Nature: Organic, Conventional; By Type: Concentrate, Isolate, Others; By Source: Pea, Rice, Soy, Wheat, Others; By Application: Feed, Food; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Australia Plant Protein Market Outlook
The Australia plant protein market size reached USD 184.80 million in 2023. The market is expected to grow at a CAGR of 5.64% between 2024 and 2032, reaching USD 301.98 million by 2032.
Key Takeaways:
- The USDA stated Australia produced 42,000 tons of soybeans in 2022/23, driven by rising demand due to its protein-rich reputation.
- Research indicates that around 2% of Australians are projected to follow a vegan diet, boosting the demand for plant-based proteins.
- Purchasing dairy and meat alternatives from Australian retailers rose by another 14% in 2020-21, sustaining the previous two years' trend.
Organic products drive the Australia plant protein market growth due to their cultivation without synthetic pesticides, herbicides, or fertilizers
Organic plant proteins provide advantages such as the absence of synthetic chemicals, environmental sustainability, non-GMO status, perceived nutritional superiority, and concern for animal welfare. This appeals to consumers worried about the presence of chemical residues in their food. They also support small-scale farmers, appealing to health-conscious and environmentally aware consumers.
Conventional plant proteins, on the other hand, are characterized by lower costs, wide availability, and consistent quality. They adhere to regulatory standards, offer familiarity, and have longer shelf lives, catering to a broader consumer base seeking affordability, convenience, and product reliability. Numerous brands are now introducing plant protein products into the market.
In September 2023, Shandi Global, a plant-based company based in Singapore, entered the Australian market with its protein-rich RTE products. Shandi Global had created a range of plant-based items asserted to be just as, if not more, nutritious than traditional chicken meat. These products were scheduled for launch in both local and international markets.
Market Segmentation
Australia Plant Protein Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Nature
- Organic
- Conventional
Market Breakup by Type
- Concentrate
- Isolate
- Others
Market Breakup by Source
- Pea
- Rice
- Soy
- Wheat
- Others
Market Breakup by Application
- Feed
- Food
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
The Australia plant protein market key players are Professional Whey Pty Ltd., Australian Plant Proteins Pty Ltd., Axiom Foods, Inc. (Pacific Resources International), Manildra Flour Mills Pty. Ltd., Danisco Australia Pty Limited, and Harvest B among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Nature |
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| Breakup by Type |
|
| Breakup by Source |
|
| Breakup by Application |
|
| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Australia Plant Protein Market Overview
8.1 Key Industry Highlights
8.2 Australia Plant Protein Historical Market (2018-2023)
8.3 Australia Plant Protein Market Forecast (2024-2032)
9 Australia Plant Protein Market by Nature
9.1 Organic
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Conventional
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Australia Plant Protein Market by Type
10.1 Concentrate
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Isolate
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Others
11 Australia Plant Protein Market by Source
11.1 Pea
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Rice
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Soy
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Wheat
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Others
12 Australia Plant Protein Market by Application
12.1 Feed
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Food
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 Australia Plant Protein Market by Region
13.1 New South Wales
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Victoria
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Queensland
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Australian Capital Territory
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Western Australia
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Professional Whey Pty Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Australian Plant Proteins Pty Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Axiom Foods, Inc. (Pacific Resources International)
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Manildra Flour Mills Pty. Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Danisco Australia Pty Limited
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Harvest B
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Australia Plant Protein Market: Key Industry Highlights, 2018 and 2032
2. Australia Plant Protein Historical Market: Breakup by Nature (USD Million), 2018-2023
3. Australia Plant Protein Market Forecast: Breakup by Nature (USD Million), 2024-2032
4. Australia Plant Protein Historical Market: Breakup by Type (USD Million), 2018-2023
5. Australia Plant Protein Market Forecast: Breakup by Type (USD Million), 2024-2032
6. Australia Plant Protein Historical Market: Breakup by Source (USD Million), 2018-2023
7. Australia Plant Protein Market Forecast: Breakup by Source (USD Million), 2024-2032
8. Australia Plant Protein Historical Market: Breakup by Application (USD Million), 2018-2023
9. Australia Plant Protein Market Forecast: Breakup by Application (USD Million), 2024-2032
10. Australia Plant Protein Historical Market: Breakup by Region (USD Million), 2018-2023
11. Australia Plant Protein Market Forecast: Breakup by Region (USD Million), 2024-2032
12. Australia Plant Protein Market Structure
Key Questions Answered in the Report
The market was valued at USD 184.80 million in 2023.
The market is projected to grow at a CAGR of 5.64% between 2024 and 2032.
The revenue generated from the market is expected to reach USD 301.98 million in 2032.
The plant protein market is categorised according to nature, which includes organic and conventional.
The key players are Professional Whey Pty Ltd., Australian Plant Proteins Pty Ltd., Axiom Foods, Inc. (Pacific Resources International), Manildra Flour Mills Pty. Ltd., Danisco Australia Pty Limited, and Harvest B among others.
Based on the type, the market is divided into concentrate, isolate and others.
The market is broken down into New South Wales, Victoria, Queensland, Australian Capital Territory, and Western Australia among others.
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