Australia Plant Protein Market Report and Forecast 2025-2034

Australia Plant Protein Market Report and Forecast 2025-2034

Market Outlook

According to the report by Expert Market Research (EMR), the Australia plant protein market size reached about AUD 288.93 million in 2024. Assisted by the by increasing demand for sustainable, health-focused food options, as well as growing consumer interest in plant-based diets, the market is expected to grow at a CAGR of 5.60% between 2025 and 2034, reaching AUD 500.25 million by 2034.

The Australia plant protein market growth is driven by the shifting consumer preferences towards plant-based diets and increasing awareness about the health and environmental benefits associated with plant-based proteins. As more Australians embrace plant-based diets for health, ethical, and environmental reasons, the demand for plant protein ingredients across various industries, particularly food and beverages, is growing. This trend is reshaping the Australian food landscape, with plant protein being increasingly incorporated into a wide variety of products, from meat substitutes to dairy alternatives.

One of the main factors reshaping the Australia plant protein market trends is the rising interest in plant-based nutrition. As consumers become more health-conscious, they are turning to plant-based proteins as a healthier alternative to animal-based proteins. Plant proteins, such as pea, rice, soy, and hemp, are seen as cleaner, lighter, and more digestible than their animal counterparts. They offer a variety of health benefits, including lower levels of saturated fat and cholesterol, while being rich in essential amino acids, fibre, vitamins, and minerals. This shift towards plant-based eating is particularly evident among younger consumers, who are more likely to adopt vegan and vegetarian diets and seek plant-based protein products for their nutritional value.

The increasing trend of environmental consciousness among Australian consumers is also contributing to the Australia plant protein market expansion. With concerns over the environmental impact of livestock farming, including greenhouse gas emissions, water consumption, and land use, many consumers are looking for more sustainable sources of protein. Plant-based proteins have a significantly lower environmental footprint compared to animal-based proteins, making them an attractive option for those seeking to reduce their ecological impact. This growing awareness of sustainability has led to a surge in demand for plant protein products that are not only nutritious but also eco-friendly. Manufacturers are responding to this demand by creating more plant-based protein options that cater to the preferences of environmentally conscious consumers.

Additionally, the Australia plant protein market revenue is complimented by the rise of veganism and the increasing popularity of plant-based diets. As more individuals adopt plant-based lifestyles, there is a growing need for protein-rich, plant-based alternatives to traditional meat and dairy products. This has led to the development of plant-based meat substitutes, dairy-free milk, yoghurts, cheeses, and protein bars, all of which use plant protein as a primary ingredient. Companies are innovating and expanding their product lines to cater to the diverse needs of consumers, offering a variety of flavours, textures, and formats to enhance the appeal of plant-based proteins.

According to the Australia plant protein market analysis, the demand for plant protein is also rising in the sports and fitness sector, where protein is a key component of a balanced diet. Plant-based protein powders, shakes, and supplements are becoming increasingly popular among athletes, fitness enthusiasts, and those with dietary restrictions or preferences. These products offer a clean source of protein without the additives or allergens found in some animal-based protein products, such as dairy. With the growing focus on fitness and wellness in Australia, plant protein is being incorporated into products designed to support muscle recovery, improve endurance, and promote overall health.

However, despite the positive outlook for the Australia plant protein market, one of the main obstacles is the cost of plant protein ingredients, which can be higher than traditional animal-based proteins due to the need for advanced processing technologies and supply chain complexities. While prices are expected to decrease over time as production scales up and supply chains improve, plant proteins remain relatively expensive compared to animal proteins, which can limit their widespread adoption, particularly in price-sensitive markets. Additionally, some consumers may still have reservations about the taste and texture of plant-based products, although continued innovation in product development is helping to overcome these barriers.

Looking ahead, the Australia plant protein market is likely to see continued product innovation, with more companies entering the space to offer diverse and functional plant protein-based products. As the market matures and the supply chain for plant proteins strengthens, prices are expected to become more competitive, making plant proteins more accessible to a wider range of consumers. With the increasing focus on health, sustainability, and innovation, the plant protein market in Australia is well-positioned to thrive over the next decade.

Market Segmentation

The market can be divided based on nature, type, source, application, and region.

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

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Australia plant protein market. Some of the major players explored in the report by Expert Market Research are as follows:

• Professional Whey Pty Ltd.
• Australian Plant Proteins Pty Ltd.
• Axiom Foods, Inc. (Pacific Resources International)
• Manildra Flour Mills Pty. Ltd.
• Danisco Australia Pty Limited
• Harvest B
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.