FARMERS VITAL TO GROWING ALTERNATIVE PROTEIN INDUSTRY
The alternative proteins sector has grown tenfold in Australia and New Zealand over the past few years.
As with any emerging industry, many gaps and bottlenecks exist across alternative protein supply chains—from skills and infrastructure capacity to optimised crops and local ingredient supply, not least because of the speed of growth.
Executive Director of Food Frontier Dr Simon Eassom says the shift to diversify protein supply across the globe will continue to accelerate, providing opportunities for grain farmers and helping to alleviate supply chain issues, “Deloitte Access Economics predicts that plant-based meat—which relies on base ingredients such as pulses and legumes–will generate almost $3 billion in domestic consumer sales by 2030.
“From a base of just 4 producers 5 years ago to more than 40 in 2023 and over 300 plant-based meat products in the market, in terms of volumes, the industry is forecast to produce 169,000 tonnes of end product by 2030.
“Increasing demand internationally for high-quality protein isolates, including for plant-based meats and a range of other foods and products, are also market opportunities for farmers.”
Agriculture Victoria Policy and Programs Executive Director Sarah-Jane McCormack highlighted the exciting possibilities of new and emerging agricultural industries.
“Agriculture Victoria recognises the growth potential of alternative proteins and other emerging sectors and believe these industries offer significant opportunities to create jobs, broaden income streams and target new markets and consumers.
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