Plant-based protein worth $25 billion by 2030

Plant-based protein, foods for health and wellbeing, premium products and other emerging food trends could be worth $25 billion by 2030, new analysis by Australia’s national science agency, CSIRO predicts.

Economists in CSIRO’s strategic advisory arm, CSIRO Futures, have released an economic valuation of the full range of opportunities identified in the 2017 CSIRO Food and Agribusiness Roadmap.

Their report is being launched on Wednesday 4th September at the ‘Global Table’ event in Melbourne.

Senior Economic Advisor at CSIRO Futures, Dr Katherine Wynn, said that if Australia harnessed these opportunities, the food and agribusiness sector could successfully become a growth orientated, de-commoditised, value-adding and differentiated sector.

“Achieving this growth will depend on continued innovation and investment by all players in the food industry,” Wynn said.

“As consumer demand for healthy foods and foods with added health benefits increases, foods such as enriched yoghurt and fortified breakfast cereals are likely to claim a larger chunk of the $25 billion pie.”

READ MORE: Burcon to build $70 million pea and canola protein production plant

Global consumer trends for sustainable, ethical and healthy food products combined with growing demand from export markets buying into Australia’s reputation for clean and green products are driving this growth.

Wynn, whose team drew on extensive research, consultations and economic analysis, said the health and wellness, sustainable solutions, and premium segments will see higher growth (3.6 per cent per annum, in real terms) compared to the food and agribusiness industry as a whole (2.4 per cent per annum).

The goal to grow our share of emerging food markets complements the National Farmers’ Federation strategic target to reach $100 billion by 2030, with a growth rate of approximately four per cent per annum expected in farm gate output.

Key opportunities fuelling this growth include the meat alternatives market – such as plant proteins and insect-based ingredients – as well as demand from export markets with large vegetarian populations such as India. The meat alternatives market also has the potential to reduce greenhouse gas emissions and water use.

The research also shows that consumers are more willing to pay a premium for sustainable brands which could see greater economic as well as environmental benefits.

Chobani introduces no added sugar, high protein yoghurt to range

Chobani has launched its locally developed and Australian exclusive new range, Chobani FiT.

Chobani FiT brings Aussie yogurt lovers the ultimate functional product with six of their most beloved flavours, remastered to pack an even more powerful protein punch, without any added sugar. 

Chobani Australia managing director, Peter Meek, said the company likes to listen to its fans and consumers, and noticed there were certain people who were looking for high protein, no added sugar options in the yogurt category.

“Chobani FiT was developed to bring these consumers an option that fuels their journey and this naturally builds on our mission of brining better food to more people,” he said.

Chobani FiT has been crafted to deliver the perfect balance of taste, texture and flavour with the benefits of and whopping 15g of protein per pot without any added sugar.

To achieve no added sugar and a great taste, the range is sweetened with the natural sweetener, Stevia.

“With Australian’s seeking convenience and 20 per cent of Aussies looking for high protein snacks, we thought it was only right to put Chobani FiT into our on-the-go pouch format too. Now active Aussies can have their post-workout fuel on-the-go,” said Meek.

The Chobani FiT range includes six flavours in the 170g pot range and four flavours in the 140g on-the-go pouch format. The range is available at Woolworths and some independent stores.

It will be available at Coles from the 20th of September.

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