Market Size of Australia Protein Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.04 % |
| Fastest Growing Market | Food and Beverages |
| Largest Market | Personal Care and Cosmetics |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Australia Protein Market Analysis
The Australia protein market is expected to grow from USD 221.2 million in 2023 at a CAGR of 4.04% in the upcoming five years.
- Animal-derived proteins such as collagen, keratin, elastin, silk protein, milk protein, egg protein, lanolin, honey, and caviar extract are extensively used in the manufacturing and processing of beauty and personal care products in Australia. These ingredients tend to offer skincare and haircare benefits such as improving skin elasticity, reducing wrinkles, enhancing shine, strengthening hair, and providing moisturization, resulting in increasing demand for animal-based proteins in the beauty and personal care industry.
- As Australia exports a significant amount of beauty and personal care products to New Zealand, China, the United States, and other countries, the demand for animal protein in the industry is expected to increase in the coming years. For instance, According to the Australian Bureau of Statistics, Australia exported beauty and personal care products worth USD 148.73 million in 2021.
- Animal protein is extensively used in the production of animal feeds such as poultry feed, pet foods, and other animal feed products that are extensively consumed across the country. For instance, poultry feed incorporates animal protein sources like fish meal, poultry meal, and meat and bone meal to support growth, muscle development, and egg production in chickens and ducks. With increasing poultry consumption in the country, the demand for animal protein in the poultry industry is expected to increase in the country. For instance, According to the Organization for Economic Co-operation and Development (OECD), per capita consumption of poultry in Australia stood at 46.12 kg in the year 2022. Additionally, animal protein is also a key ingredient in pet food formulations, supporting the growth, energy, and health of dogs, cats, and other pets. Swine feed often includes animal protein sources like dried whey, fish meal, and plasma proteins to enhance piglet growth and health. These factors tend to increase the demand for protein in the animal feed industry in Australia.
