Key Insights
The Australian plant-based protein market, valued at approximately $X million in 2025, is projected to experience robust growth, driven by increasing consumer demand for sustainable and ethical food choices, along with a rising awareness of the health benefits associated with plant-based diets. A compound annual growth rate (CAGR) of 4.06% from 2025 to 2033 indicates a steady expansion, with the market size expected to reach approximately $Y million by 2033 (Note: X and Y represent estimated values based on the provided 2025 value and CAGR, requiring further data for precise calculation). Key drivers include the growing popularity of veganism and vegetarianism, coupled with rising concerns about animal welfare and environmental sustainability. This shift in consumer preferences is particularly evident in the food and beverage and supplement sectors, where plant-based proteins are increasingly incorporated into a wider range of products, from meat alternatives to protein shakes. Soy protein and pea protein currently hold significant market share, however, other plant-based proteins like hemp and potato protein are gaining traction, fueled by innovation in product formulation and diversification of applications.
Despite the positive outlook, the market faces challenges. Fluctuations in raw material prices and potential supply chain disruptions could restrain growth. Additionally, educating consumers about the nutritional benefits and versatility of various plant-based proteins remains crucial. Further segmentation of the market by protein type (hemp, pea, soy, etc.) and end-user application (food & beverage, personal care, animal feed) reveals distinct growth patterns. The strong presence of established players like Cargill, ADM, and Bunge, alongside emerging Australian companies like Australian Plant Proteins, points to a competitive landscape with opportunities for both large multinational corporations and smaller, specialized businesses. The Australian market benefits from a strong focus on food safety and quality standards, providing a supportive environment for plant-based protein growth.

Australia Plant-Based Protein Industry Report: 2019-2033
This comprehensive report provides an in-depth analysis of the Australian plant-based protein industry, offering invaluable insights for industry professionals, investors, and stakeholders. Covering the period 2019-2033, with a focus on 2025, this report analyzes market dynamics, key players, and future growth potential. The Australian plant-based protein market is experiencing significant growth, driven by increasing consumer demand for sustainable and healthy food options. This report unravels the complexities of this dynamic market, providing actionable intelligence to navigate its intricacies.
Australia Plant-Based Protein Industry Market Structure & Innovation Trends
This section analyzes the competitive landscape of the Australian plant-based protein market, examining market concentration, innovation drivers, regulatory frameworks, and M&A activities. The market is characterized by a mix of large multinational corporations and smaller, specialized companies.
Market Concentration: The market exhibits moderate concentration, with key players like Cargill Incorporated, Archer Daniels Midland Company, and Bunge Limited holding significant market share, estimated at xx%. However, several smaller players, including Australian Plant Proteins Pty Ltd, are also making significant contributions.
Innovation Drivers: Innovation is fueled by consumer demand for novel protein sources, functional ingredients, and sustainable production methods. Technological advancements in protein extraction and processing are also key drivers.
Regulatory Framework: Australian regulations regarding food labeling, safety, and sustainability influence industry practices. Compliance with these regulations is crucial for market entry and sustained growth.
Product Substitutes: Animal-based proteins remain the primary substitutes for plant-based proteins. However, the increasing popularity of plant-based alternatives is driven by health consciousness and environmental concerns.
End-User Demographics: The primary end-users include the food and beverage, animal feed, and personal care and cosmetics sectors, with consumer demand for plant-based protein supplements also driving growth. The market is witnessing a significant shift in consumer preferences towards plant-based alternatives.
M&A Activities: Significant M&A activity, such as Bunge Ltd.'s AUD 45.7 million investment in Australian Plant Proteins in April 2021, indicates industry consolidation and expansion. The total value of M&A deals within the study period (2019-2024) is estimated at xx Million AUD.

Australia Plant-Based Protein Industry Market Dynamics & Trends
This section delves into the market dynamics of the Australian plant-based protein industry, including market growth drivers, technological disruptions, consumer preferences, and competitive dynamics. The market exhibits robust growth, driven by factors such as increasing health consciousness, rising environmental awareness, and growing adoption of vegan and vegetarian lifestyles.
The market is projected to witness a CAGR of xx% during the forecast period (2025-2033), with market penetration increasing from xx% in 2025 to xx% by 2033. This growth is propelled by several key factors, including a rise in consumer preference for sustainable and ethical food options and increased investment in R&D of new plant-based protein products. Technological innovations in plant-based protein extraction and formulation, along with favorable government policies promoting sustainable agriculture, are further stimulating market growth. The intense competition among established players and emerging entrants is driving innovation and ensuring a continuous improvement in product quality and affordability, thereby enhancing the overall consumer experience.

Dominant Regions & Segments in Australia Plant-Based Protein Industry
This section identifies the leading regions and segments within the Australian plant-based protein market. While precise data on regional dominance is unavailable, this section assumes that New South Wales and Victoria, being the most populous and economically active states, dominate the market, with Queensland emerging as a significant regional hub due to Kerry's investment in its Food Technology and Innovation Center.
Key Drivers:
- Economic Policies: Government initiatives promoting sustainable agriculture and plant-based food production are boosting market growth.
- Infrastructure: Well-developed agricultural infrastructure and processing facilities support the expansion of the plant-based protein industry.
Dominant Segments:
- Protein Type: Pea protein and soy protein are anticipated to remain the dominant segments due to their established market presence, affordability, and functional properties. However, other plant-based proteins, such as hemp and lentil protein, are gaining traction due to their unique health benefits and growing consumer demand.
- End-User: The food and beverage industry is expected to remain the largest end-user segment, owing to the wide applicability of plant-based proteins in various food products. The animal feed industry also represents a substantial market segment.
Australia Plant-Based Protein Industry Product Innovations
The Australian plant-based protein industry is witnessing significant product innovation, driven by the need for more sustainable, nutritious, and versatile alternatives to traditional protein sources. Companies are focusing on developing plant-based protein ingredients with improved texture, flavor, and functionality. Technological advancements in protein extraction and processing are facilitating the creation of novel plant-based protein products tailored to specific consumer needs. The introduction of new product formulations with enhanced nutritional value and improved sensory qualities is creating new market opportunities.
Report Scope & Segmentation Analysis
This report segments the Australian plant-based protein market based on protein type (Hemp Protein, Pea Protein, Potato Protein, Rice Protein, Soy Protein, Wheat Protein, Other Plant Protein) and end-user (Animal Feed, Personal Care and Cosmetics, Food and Beverages, Supplements). Each segment's growth projections, market size, and competitive dynamics are assessed. For example, the pea protein segment is projected to grow at a CAGR of xx% from 2025 to 2033, driven by increasing consumer awareness of its health benefits and versatility in food applications. Similarly, the food and beverage sector is expected to experience substantial growth, fuelled by the escalating demand for plant-based meat alternatives, dairy substitutes, and functional foods.
Key Drivers of Australia Plant-Based Protein Industry Growth
The growth of the Australian plant-based protein industry is driven by several key factors:
- Rising consumer demand: Increasing health consciousness, growing awareness of environmental sustainability, and the adoption of vegetarian/vegan lifestyles are significantly boosting demand for plant-based protein products.
- Technological advancements: Innovations in protein extraction and processing technologies are improving the quality, functionality, and cost-effectiveness of plant-based proteins.
- Government support: Government initiatives aimed at promoting sustainable agriculture and food production are creating a favourable environment for market expansion.
Challenges in the Australia Plant-Based Protein Industry Sector
Several challenges hinder the growth of the Australian plant-based protein industry:
- Supply chain limitations: Maintaining a reliable and consistent supply chain for raw materials can be challenging, especially for niche plant-based proteins.
- Cost competitiveness: Plant-based proteins can sometimes be more expensive than traditional animal-based proteins, limiting their accessibility to certain consumer groups.
- Consumer perception: Addressing consumer perceptions about the taste, texture, and nutritional value of plant-based proteins remains critical for wider market adoption.
Emerging Opportunities in Australia Plant-Based Protein Industry
The Australian plant-based protein industry presents several emerging opportunities:
- Expanding into new markets: Untapped market segments, such as functional foods, sports nutrition, and pet food, present substantial growth potential.
- Developing innovative products: Creating plant-based proteins with improved nutritional profiles, enhanced textures, and appealing flavors is essential for wider market appeal.
- Exploring new protein sources: Research and development of new and sustainable plant-based protein sources can contribute to increased product diversity and market competitiveness.
Leading Players in the Australia Plant-Based Protein Industry Market
- Cargill Incorporated Cargill Incorporated
- The Archer-Daniels-Midland Company ADM
- Manildra Group
- International Flavors & Fragrances Inc IFF
- Bunge Limited Bunge
- Australian Plant Proteins Pty Ltd
- Axiom Foods Inc
- Ingredion Incorporated Ingredion
- Koninklijke DSM N.V. DSM
- Kerry Group plc Kerry
Key Developments in Australia Plant-Based Protein Industry
- February 2021: International Flavors & Fragrances (IFF) merged with DuPont's Nutrition & Biosciences division, expanding its plant-based protein portfolio in Australia.
- April 2021: Bunge Ltd. invested AUD 45.7 million in Australian Plant Proteins, expanding its plant protein isolate production.
- May 2021: Kerry established a state-of-the-art Food Technology and Innovation Center in Queensland, boosting its R&D capabilities in Australia and New Zealand.
Future Outlook for Australia Plant-Based Protein Industry Market
The Australian plant-based protein industry is poised for continued growth, driven by sustained consumer demand, technological innovation, and supportive government policies. The market is expected to witness significant expansion across various segments, fuelled by new product launches, strategic partnerships, and increasing investments in research and development. The future outlook is positive, with substantial growth potential in the coming years. Strategic opportunities exist for companies focusing on sustainable and innovative plant-based protein solutions.
Australia Plant-Based Protein Industry Segmentation
-
1. Protein Type
- 1.1. Hemp Protein
- 1.2. Pea Protein
- 1.3. Potato Protein
- 1.4. Rice Protein
- 1.5. Soy Protein
- 1.6. Wheat Protein
- 1.7. Other Plant Protein
-
2. End-User
- 2.1. Animal Feed
- 2.2. Personal Care and Cosmetics
-
2.3. Food and Beverages
- 2.3.1. Bakery
- 2.3.2. Breakfast Cereals
- 2.3.3. Condiments/Sauces
- 2.3.4. Confectionery
- 2.3.5. Dairy and Dairy Alternative Products
- 2.3.6. Meat/Poultry/Seafood and Meat Alternative Products
- 2.3.7. RTE/RTC Food Products
- 2.3.8. Snacks
-
2.4. Supplements
- 2.4.1. Baby Food and Infant Formula
- 2.4.2. Elderly Nutrition and Medical Nutrition
- 2.4.3. Sport/Performance Nutrition
Australia Plant-Based Protein Industry Segmentation By Geography
- 1. Australia

Australia Plant-Based Protein Industry REPORT HIGHLIGHTS
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 4.06% from 2019-2033 |
Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Increasing Demand for Vegan Food & Beverages Driving the Market; Intolerance and Allergies Associated with Animal Protein Products
- 3.3. Market Restrains
- 3.3.1. High Market Penetration of Animal Protein
- 3.4. Market Trends
- 3.4.1. Increasing Demand for Plant-based Food & Beverages
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Australia Plant-Based Protein Industry Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Protein Type
- 5.1.1. Hemp Protein
- 5.1.2. Pea Protein
- 5.1.3. Potato Protein
- 5.1.4. Rice Protein
- 5.1.5. Soy Protein
- 5.1.6. Wheat Protein
- 5.1.7. Other Plant Protein
- 5.2. Market Analysis, Insights and Forecast - by End-User
- 5.2.1. Animal Feed
- 5.2.2. Personal Care and Cosmetics
- 5.2.3. Food and Beverages
- 5.2.3.1. Bakery
- 5.2.3.2. Breakfast Cereals
- 5.2.3.3. Condiments/Sauces
- 5.2.3.4. Confectionery
- 5.2.3.5. Dairy and Dairy Alternative Products
- 5.2.3.6. Meat/Poultry/Seafood and Meat Alternative Products
- 5.2.3.7. RTE/RTC Food Products
- 5.2.3.8. Snacks
- 5.2.4. Supplements
- 5.2.4.1. Baby Food and Infant Formula
- 5.2.4.2. Elderly Nutrition and Medical Nutrition
- 5.2.4.3. Sport/Performance Nutrition
- 5.3. Market Analysis, Insights and Forecast - by Region
- 5.3.1. Australia
- 5.1. Market Analysis, Insights and Forecast - by Protein Type
- 6. Competitive Analysis
- 6.1. Market Share Analysis 2024
- 6.2. Company Profiles
- 6.2.1 Cargill Incorporated
- 6.2.1.1. Overview
- 6.2.1.2. Products
- 6.2.1.3. SWOT Analysis
- 6.2.1.4. Recent Developments
- 6.2.1.5. Financials (Based on Availability)
- 6.2.2 The Archer-Daniels-Midland Company
- 6.2.2.1. Overview
- 6.2.2.2. Products
- 6.2.2.3. SWOT Analysis
- 6.2.2.4. Recent Developments
- 6.2.2.5. Financials (Based on Availability)
- 6.2.3 Manildra Group
- 6.2.3.1. Overview
- 6.2.3.2. Products
- 6.2.3.3. SWOT Analysis
- 6.2.3.4. Recent Developments
- 6.2.3.5. Financials (Based on Availability)
- 6.2.4 International Flavors & Fragrances Inc
- 6.2.4.1. Overview
- 6.2.4.2. Products
- 6.2.4.3. SWOT Analysis
- 6.2.4.4. Recent Developments
- 6.2.4.5. Financials (Based on Availability)
- 6.2.5 Bunge Limited
- 6.2.5.1. Overview
- 6.2.5.2. Products
- 6.2.5.3. SWOT Analysis
- 6.2.5.4. Recent Developments
- 6.2.5.5. Financials (Based on Availability)
- 6.2.6 Australian Plant Proteins Pty Ltd
- 6.2.6.1. Overview
- 6.2.6.2. Products
- 6.2.6.3. SWOT Analysis
- 6.2.6.4. Recent Developments
- 6.2.6.5. Financials (Based on Availability)
- 6.2.7 Axiom Foods Inc
- 6.2.7.1. Overview
- 6.2.7.2. Products
- 6.2.7.3. SWOT Analysis
- 6.2.7.4. Recent Developments
- 6.2.7.5. Financials (Based on Availability)
- 6.2.8 Ingredion Incorporated
- 6.2.8.1. Overview
- 6.2.8.2. Products
- 6.2.8.3. SWOT Analysis
- 6.2.8.4. Recent Developments
- 6.2.8.5. Financials (Based on Availability)
- 6.2.9 Koninklijke DSM N V *List Not Exhaustive
- 6.2.9.1. Overview
- 6.2.9.2. Products
- 6.2.9.3. SWOT Analysis
- 6.2.9.4. Recent Developments
- 6.2.9.5. Financials (Based on Availability)
- 6.2.10 Kerry Group plc
- 6.2.10.1. Overview
- 6.2.10.2. Products
- 6.2.10.3. SWOT Analysis
- 6.2.10.4. Recent Developments
- 6.2.10.5. Financials (Based on Availability)
- 6.2.1 Cargill Incorporated
List of Figures
- Figure 1: Australia Plant-Based Protein Industry Revenue Breakdown (Million, %) by Product 2024 & 2032
- Figure 2: Australia Plant-Based Protein Industry Share (%) by Company 2024
List of Tables
- Table 1: Australia Plant-Based Protein Industry Revenue Million Forecast, by Region 2019 & 2032
- Table 2: Australia Plant-Based Protein Industry Revenue Million Forecast, by Protein Type 2019 & 2032
- Table 3: Australia Plant-Based Protein Industry Revenue Million Forecast, by End-User 2019 & 2032
- Table 4: Australia Plant-Based Protein Industry Revenue Million Forecast, by Region 2019 & 2032
- Table 5: Australia Plant-Based Protein Industry Revenue Million Forecast, by Country 2019 & 2032
- Table 6: Australia Plant-Based Protein Industry Revenue Million Forecast, by Protein Type 2019 & 2032
- Table 7: Australia Plant-Based Protein Industry Revenue Million Forecast, by End-User 2019 & 2032
- Table 8: Australia Plant-Based Protein Industry Revenue Million Forecast, by Country 2019 & 2032
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Australia Plant-Based Protein Industry?
The projected CAGR is approximately 4.06%.
2. Which companies are prominent players in the Australia Plant-Based Protein Industry?
Key companies in the market include Cargill Incorporated, The Archer-Daniels-Midland Company, Manildra Group, International Flavors & Fragrances Inc, Bunge Limited, Australian Plant Proteins Pty Ltd, Axiom Foods Inc, Ingredion Incorporated, Koninklijke DSM N V *List Not Exhaustive, Kerry Group plc.
3. What are the main segments of the Australia Plant-Based Protein Industry?
The market segments include Protein Type, End-User.
4. Can you provide details about the market size?
The market size is estimated to be USD XX Million as of 2022.
5. What are some drivers contributing to market growth?
Increasing Demand for Vegan Food & Beverages Driving the Market; Intolerance and Allergies Associated with Animal Protein Products.
6. What are the notable trends driving market growth?
Increasing Demand for Plant-based Food & Beverages.
7. Are there any restraints impacting market growth?
High Market Penetration of Animal Protein.
8. Can you provide examples of recent developments in the market?
May 2021: Kerry made a significant announcement regarding the establishment of a state-of-the-art Food Technology and Innovation Center of Excellence in Queensland, Australia. This facility is poised to serve as Kerry's new headquarters for its operations in Australia and New Zealand. Concurrently, Kerry's existing facility in Sydney will continue to operate as a specialized research and development applications hub. With comprehensive capabilities, including pilot plants, cutting-edge laboratories, and advanced testing facilities, the newly inaugurated Kerry Australia and New Zealand Development and Application Centre in Brisbane has substantially bolstered Kerry's research and development capabilities within the region.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3800, USD 4500, and USD 5800 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in Million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "Australia Plant-Based Protein Industry," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the Australia Plant-Based Protein Industry report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the Australia Plant-Based Protein Industry?
To stay informed about further developments, trends, and reports in the Australia Plant-Based Protein Industry, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database



Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations

Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence