The Australian based Food Frontier, which champions the support and development of alternative protein sources, says Australia and New Zealand (ANZ) are taking a leading role in the emerging global 'new protein' industry. This underscores the progress being made toward sustainability and efficiency in food production, strongly positioning ANZ in this sector.
In major retail in Australia, the plant-based meat category has gone from fewer than five brands made by Australian/NZ businesses in 2017, to more than 30. There has also been a three-fold increase in the number of products on shelves over the last few years, from less than 90 to just under 300.
There are currently 26 plant-based meat manufacturers in Australia and New Zealand, from small start-ups to family-run meat and butchery businesses, to small medium enterprises and large players. Eleven are based in NSW; six in Victoria; three in Queensland; five in New Zealand and one in South Australia.
Dr. Simon Eassom, CEO of Food Frontier is enthusiastic about progress. "The ANZ region is at the cutting edge of pioneering solutions in the food sector, especially in crafting plant-based and alternative protein products. Our unwavering dedication to research and development is not merely catering to the growing consumer demand for sustainable alternatives but is also establishing a global standard of excellence in this swiftly progressing field," says Dr. Eassom.
The report from Food Frontier sheds light on a series of innovative projects currently unfolding across both nations, encompassing everything from cultured meat technologies to novel plant-based food innovations. These ventures are significantly enriching the food industry's landscape, says Food Frontier at the same time offering more eco-friendly production methodologies and contributing to the diversification of the sector.
Consumers are looking for convenience, which has seen a significant increase in the supply of formats like schnitzels and nuggets, through to mince and meatballs, and to deli slices, snacking and finger foods. Consumer interest in products able to be incorporated into a variety of dishes has seen more versatile, functional formats hit shelves, like beef-style strips and chunks, and whole cut style—although there are still fewer than 10 products of each in-market.
Source: Food Frontier
"Through our collective efforts and a commitment to pioneering research, ANZ is showcasing its capability to lead the charge in the global arena of food innovation. It's a thrilling era for our region, with a vibrant ecosystem of startups and established entities alike propelling advancements and crafting products that resonate with the evolving preferences of today's consumers," added Dr. Eassom.
This optimistic perspective from Food Frontier arrives as Australia and New Zealand persist in their substantial investments in the food technology sphere, acknowledging its vast potential for stimulating economic growth and promoting environmental stewardship.
Business Consultants, Ernst & Young are forecasting the global plant-based meat market to reach at least US$57B by 2030. Additionally, Australia's, CSIRO has estimated the plant-based products category in Australia will reach $6bn by 2030.
With robust backing from both governmental bodies and the private sector, the trajectory of food innovation in ANZ is set on an upward path, marked by a collective vision aimed at nurturing a healthier planet and populace.
For more information CLICK HERE
ENDS:
Comments