Australian Plant Proteins Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The report covers Australia Plant Protein Companies and the market is segmented by Protein Type (Hemp Protein, Pea Protein, Potato Protein, Rice Protein, Soy Protein, Wheat Protein, and Other Plant Protein) and by End User (Animal Feed, Personal Care and Cosmetics, Food and Beverages, and Supplements). The market size is provided in terms of value (USD) and volume (tons) for all the abovementioned segments.

Australian Plant Proteins Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Australia Plant Protein Market Size

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Australia Plant Protein Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2019 - 2023
CAGR 4.06 %
Market Concentration Low

Major Players

Australia Plant Protein Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Australia Plant Protein Market with other markets in Food & Beverage Industry

Beverages

Food

Food Ingredients and Food Additives

Food Supplements

Australia Plant Protein Market Analysis

The Australia Plant Protein Market is expected to register a CAGR of 4.06% during the forecast period.

  • The market for plant proteins has been emerging in Australia as a result of increased demand brought on by growing public knowledge of the advantages of consuming proteins sourced from plant-based sources and growing attention towards the disadvantages of animal proteins. 
  • According to the AltProteins22 Conference in May 2022, Australia was poised to become a major participant in the world of plant-based proteins. The Victorian government sponsored the first alternative proteins conference for Australia and New Zealand, AltProteins22. Australia is in a position to create new protein companies that will be profitable when consumer trends and new protein sectors build up.
  • In addition to traditional protein sectors that have shifted their attention to export markets, the alternative proteins industry is already creating jobs, stimulating the Australian economy, and opening up new agrifood opportunities. These factors are driving the market studied in Australia. Australian youth population tend to be more inclined towards fitness activities. 
  • Hence, the growth of health consciousness, joining gyms and other fitness clubs, increasing sports participation, etc., is expected to drive the demand for protein-rich foods across the region. The rising demand for protein-rich foods coupled with a preference for clean-label products is expected to play a crucial role in driving the plant protein market in Australia.
  • The innovations of products with plant protein ingredients such as protein bars, shakes, juices, and smoothies, also offer ample opportunities for the expansion of the plant protein market in Australia. For instance, in August 2021, Greenback, an Australia-based company, launched a range of plant-based protein bars that were initially sold in 7,000 retailers in Australia. Hence, the increase in innovation of products using plant-based protein ingredients and penetration of such products in the market are expected to drive Australia's plan.
  • Additionally, due to the population's hectic schedules in metropolises and megacities, ready-to-drink protein product consumption has significantly expanded. The players in the protein alternative market are dedicated to offering nutrient-dense foods. These trends among the customers are also driving the demand for protein alternatives in the Australian market.

Australia Plant Protein Industry Overview

The Australia plant protein market is fragmented in nature, with a large number of players operating in the market studied. The major players in the market include Bunge Limited, International Flavors & Fragrances Inc., Cargill Incorporated, The Archer-Daniels-Midland Company, and Kerry Group Plc. The key strategies adopted by the major players include expansions, mergers, and acquisitions to gain more market share. Companies have been expanding their production capacities in order to manufacture more plant-based ingredients to cater to the growing demand for the same across the region. The major players extensively focus on providing their clients with innovative offerings, including functional benefits in each of the offerings. This factor, in turn, provides them with a competitive advantage.

Australia Plant Protein Market Leaders

  1. Archer-Daniels-Midland Company

  2. International Flavors & Fragrances Inc.

  3. Kerry Group plc

  4. Bunge Limited

  5. Cargill, Incorporated

  6. *Disclaimer: Major Players sorted in no particular order
Australia Plant Protein Market Concentration
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Australia Plant Protein Market News

  • 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.
  • April 2021: Bunge Ltd. demonstrated its commitment to Australian Plant Proteins (APP) by investing approximately AUD 45.7 million. This substantial investment facilitated the expansion of APP's production of plant protein isolates. Among the ingredients now produced by APP are fava bean isolate powder, yellow lentil isolate powder, and red lentil isolate powder.
  • February 2021: International Flavors & Fragrances (IFF) unveiled its merger with DuPont's Nutrition & Biosciences division, a strategic move that has expanded its portfolio of plant-based proteins across Australia and various other global regions.

Australia Plant Protein Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Drivers
    • 4.1.1 Increasing Demand for Vegan Food & Beverages Driving the Market
    • 4.1.2 Intolerance and Allergies Associated with Animal Protein Products
  • 4.2 Market Restraints
    • 4.2.1 High Market Penetration of Animal Protein
  • 4.3 Porter's Five Forces Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 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 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 Beverages
    • 5.2.3.3 Breakfast Cereals
    • 5.2.3.4 Condiments/Sauces
    • 5.2.3.5 Confectionery
    • 5.2.3.6 Dairy and Dairy Alternative Products
    • 5.2.3.7 Meat/Poultry/Seafood and Meat Alternative Products
    • 5.2.3.8 RTE/RTC Food Products
    • 5.2.3.9 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

6. COMPETITIVE LANDSCAPE

  • 6.1 Strategies Adopted by Leading Players
  • 6.2 Market Share Analysis
  • 6.3 Company Profiles
    • 6.3.1 The Archer-Daniels-Midland Company
    • 6.3.2 Australian Plant Proteins Pty Ltd
    • 6.3.3 Axiom Foods, Inc.
    • 6.3.4 Bunge Limited
    • 6.3.5 Cargill, Incorporated
    • 6.3.6 International Flavors & Fragrances Inc.
    • 6.3.7 Kerry Group plc
    • 6.3.8 Manildra Group
    • 6.3.9 Ingredion Incorporated
    • 6.3.10 Koninklijke DSM N.V.
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Australia Plant Protein Industry Segmentation

Plant proteins are derived from plant sources like peas, brown rice, legumes, hemp, soy, flaxseeds, and chia seeds, among others. 

Australia's plant protein market is segmented into protein type and end-user. By protein type, the market is segmented into hemp protein, pea protein, potato protein, rice protein, soy protein, wheat protein, and other plant protein. Based on end-users, the market is segmented into animal feed, personal care and cosmetics, food and beverages, and supplements. The food and beverages segment of the market studied is further segmented into bakery, beverages, breakfast cereals, condiments/sauces, confectionery, dairy and dairy alternative products, meat/poultry/seafood and meat alternative products, RTE/RTC food products, and snacks. The supplement segment among the end users is further segmented into baby food and infant nutrition, elderly nutrition and medical nutrition, and sport/performance nutrition. 

The market sizing has been done in value terms in USD and for volume terms in volume in tons for all the abovementioned segments.

Protein Type Hemp Protein
Pea Protein
Potato Protein
Rice Protein
Soy Protein
Wheat Protein
Other Plant Protein
End-User Animal Feed
Personal Care and Cosmetics
Food and Beverages Bakery
Beverages
Breakfast Cereals
Condiments/Sauces
Confectionery
Dairy and Dairy Alternative Products
Meat/Poultry/Seafood and Meat Alternative Products
RTE/RTC Food Products
Snacks
Supplements Baby Food and Infant Formula
Elderly Nutrition and Medical Nutrition
Sport/Performance Nutrition
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Australia Plant Protein Market Research FAQs

What is the current Australia Plant Protein Market size?

The Australia Plant Protein Market is projected to register a CAGR of 4.06% during the forecast period (2025-2030)

Who are the key players in Australia Plant Protein Market?

Archer-Daniels-Midland Company, International Flavors & Fragrances Inc., Kerry Group plc, Bunge Limited and Cargill, Incorporated are the major companies operating in the Australia Plant Protein Market.

What years does this Australia Plant Protein Market cover?

The report covers the Australia Plant Protein Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Australia Plant Protein Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Plant Based Protein in Australia Industry Report

Statistics for the 2025 Australia Plant Protein market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Australia Plant Protein analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.