Australia Plant-based Meat Market Research Report, 2027

According to Aussie Farms statistics every year about 600 million animals are bred, raised and killed for food in Australia. This includes 500 million chickens, 34 million lambs, 15 million cattle, 12 million hens, 12 million unwanted male chicks, 8 million ducks, 7 million sheep, 5 million turkeys, and 5 million pigs. However, today, Australians have grown sensitive towards animal cruelty over the years and have realized to thrive on a plant based food diet. Some have also started advocating for fellow Australians by educating them about the reasons and benefits of veganism. Renowned millennials are encouraging Australians to eat plant based meats and create various signup schemes through their social media platforms. DJ Dara Kristen Hayes better known as Tiger Lily, with more than 5 Lakh followers, has encouraged followers to try the Vegan Easy June Challenge. They provide plant based meal menu options and guidance for shopping and also eating out options. She has also partnered with PETA to save animals from slaughtering. Other celebrities who endorse plant based meat eating are Ricky Gervais and Paul McCartney.

According to the report titled “Australia Plant-based Meat Market Research Report, 2027”, published by Actual Market Research (ActualMR), the plant based meat market in Australia is expected to grow by 11% during the forecast period ending in 2027. Australia is fast adapting to vegan meals that are readily available in the market. Soy is the common source used to make plant-based meat for Australian markets, while Pea is increasingly being experimented to make new plant based meat alternatives and are expected to grow rapidly over the forecast period. Large amounts of soybeans are grown in Northern Queensland to Darling Downs and inland river valleys south to NSW coastal hinterland and coastal sugar belt to inland cropping regions of southern NSW and Victoria. Wheat has more than a 25% market share in plant based meat sources, and quinoa and oats plant based meats are entering the market with new tastes and flavours and forms. Burger patties and sausages form around 60% of the market share by product as they are the most consumed, mass produced, and easily available at any store, hotel, or restaurant. Other types of plant based snacks are becoming the most preferred choice of the young. Meatballs however launched much later, are soon picking up space and becoming healthy choices for consumers.

Plant based chicken and pork together constitute for almost 80% of the market share, while fish is less than a percent. Lamb and turkey are confined to traditional meat eating cultures and so are consumed occasionally by millennials. Australia’s growing adaption to plant based meat can be attributed to Vegan Australia’s campaigns held across the country. The Vegan Australia certified logo is a reliable symbol for consumers to enable purchase. Consumers can easily make choices with the logo as they meet vegan Australian standards. According to a survey, almost 2.5 million Australians are vegans and another 10 million have reduced their meat intake. That makes it the second-most popular vegan diet in the world. Adelaide had the 14th highest number of vegans globally in 2020.

There are many hotels and restaurants across Australia serving plant based meals due to which it has become a trend to be vegan. The retailers are now stocking up on various options available to meet the growing demand from consumers for plant based meats. The retailers are investing in proper visibility of products at competitive prices. Some retailers have also launched plant-based products in order to compete for the loyalty of their existing customers. Retailers have less than a 30% market share, but with new marketing policies and advertisements and the increasing popularity of vegan food, it is expected to flourish in the coming years. From major retail chains to small-town cafes, all are now catering to the growing demand for plant-based foods.Even non-vegan restaurants, along with guidance from Vegan Australia, are incorporating healthy vegan food menus for their customers. Clubs and pubs are jumping on the bandwagon to capture the market advantage of having a vegan food and drink menu. Expanding food menus allows them to serve a larger number of customers.

The pandemic has accelerated the sales in the retail sector with many plant based meat product launches. Flexitarians are always on the lookout for ways to add variety to their diet as they buy both meat and non-meat products. Locally produced plant based meat products are lower priced than their imported counterparts, and so consumers always prefer the lower priced ones. This is also pushing the companies to locally procure raw materials and make plant-based meat products in Australia itself.

Considered in this report
Geography: Australia
Base year:  2021
Estimated year: 2022
Forecast year: 2027

Aspects covered in this report
Australia Plant-Based meat products market with its value and forecast along with its segments
Various drivers and challenges
On-going trends and developments
Five force models
Top profiled companies
Strategic recommendation

By Source in the report
Soy
Pea
Wheat
Others (quinoa, oats, hemp, others)

By Product in the report
Burger Pattie
Sausages
Strips & Nuggets
Meatballs
Others

By Type of meat in the report
Beef
Chicken
Pork
Fish
Others (lamb & turkey)

By End-user
Retail
HoReCa

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Plant-Based meat industry, food and other related industries and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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What's Inside a Actual Market Research`s industry report?

Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

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