A new resource providing guidance on key export markets for plant-based meat producers in Australia and New Zealand has been compiled and published by Food Frontier. The Export Market Profiles cover seven markets in Asia: China, India, Indonesia, Japan, Malaysia, Singapore and South Korea.
Across the APAC region, the market size for plant-based meat alternatives is expected to increase 25 percent to US$1.7 billion over the next five years. In China, there is a 200 percent increase in consumer demand expected across that same timeline. While demand for protein is increasing worldwide as the global population grows, reports have foreshadowed that the greatest demand will come from Asia in the years ahead.
With close proximity and positive perceptions of Australian and New Zealand agri-food products as ‘clean and green’, Asian markets offer significant opportunities for plant-based companies down under to reach new customers. While almost non-existent in 2018-2019, plant-based meat exports from Australia grew to A$2.7million in 2019-2020. Since then, several Australian companies have begun exporting to markets all over the world, including China, Singapore, Thailand and Kuwait.
“Many Australian and New Zealand plant-based meat companies are interested in exporting to Asia, but those that are start-ups or small businesses may not have the resources required to invest in research for each market,” explained Karen Job, Head of Industry Engagement at Food Frontier.
“To make the early stages of the export journey accessible for these companies, Food Frontier’s Export Market Profiles provide data and insights such as consumer profiles, market demand for meat alternatives and relevant labelling and distribution processes for priority Asian markets.”
The profiles have been developed citing data from government websites, company information, trade organisations and in consultation with the national trade agencies in both Australia and New Zealand.
DOWNLOAD HERE: The Export Market Profiles can be downloaded for free from our Reports page.
This project has been made possible in part by a grant from the Open Philanthropy Project Fund, an advised fund of Silicon Valley Community Foundation.