Australia Protein Market Size
| 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 |
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.
Australia Protein Market Trends
Increasing application of protein in various industries
- Protein ingredients are getting traction in the country with the increase in acceptance of natural, health-benefitting concepts. The application of protein-based ingredients into convenience foods and beverages is gaining importance in the market for their ease of consumption properties.
- Consumers prefer to eat food products that contain more protein content and fewer carbs, encouraging the manufacturers in the market to incorporate protein-rich content in processed foods such as protein bars, drinks/shakes, and others. For instance, Elite supplements company operating in Australia is offering protein bars infused with whey protein, which are gluten-free and contain high fiber content.
- Additionally, with more consumers focusing on health and physical fitness, the demand for protein-based supplements is gaining importance in the market for their muscle-building and performance-enhancement properties. With more young consumers focusing on fitness, the demand for supplements among young consumers is increasing over time.
- For instance, the Australian Sports Commission revealed that about 49.9% and 45.1% of the age groups 18-24 and 25-35, respectively, are using fitness clubs and sports centers in 2022. With more consumers involved in fitness, the demand for protein-rich supplements is gaining importance in the market.
Increasing inclination towards Plant Protein
- The rising inclination towards plant protein among the consumers in the market is subjected to the increasing occurrence of health complications such as gluten intolerance and lactose intolerance. Consumers are shifting towards plant-based protein products from animal-sourced protein to avoid consumption of allergen-based foods.
- Plant proteins sourced from soy, almond, coconut oats, and others are becoming popular among lactose-intolerant consumers, resulting in increasing demand for plant protein-incorporated foods.
- Owing to the demand, manufacturers in the market are focusing on introducing products that contain plant-based protein products to cater to the demand in Australia. In September 2022, All G Foods Company, operating in Australia, launched its new plant-based protein products brand, Bloom Providore.
- The brand offers plant-based burgers loaded with proteins that imitate the taste and texture of beef, lamb, pork, chicken, and other meat products. Additionally, supplements that are made from plant materials are witnessing a high demand for their natural origin, and consumers tend to believe that these products are comparatively healthy and environmentally friendly.
Australia Protein Industry Overview
The Australian protein market is moderately consolidated, with the top five companies occupying the majority of the market. The major players in this market are Archer Daniels Midland Company, DuPont de Nemours Inc, Fonterra Co-operative Group Limited, Freedom Foods Group Limited, and Kerry Group plc. Expanding the product offerings and areas of application of proteins were a few of the major competitive strategies adopted by the players in the market.
Australia Protein Market Leaders
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Archer Daniels Midland Company
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DuPont de Nemours Inc
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Fonterra Co-operative Group Limited
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Freedom Foods Group Limited
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Kerry Group plc
*Disclaimer: Major Players sorted in no particular order
Australia Protein Market News
- March 2022: Thomas Foods International, an Australian milling Hub company, forged a strategic partnership with the local government to establish three cutting-edge production facilities. These facilities include a plant-based protein powder production unit, a facility for crafting protein bars, and a hub for animal-free dairy protein drinks. This ambitious endeavor required a government-backed investment of AUD 378 million, aimed at creating a prominent global center for plant protein production.
- May 2021: Kerry unveiled its visionary plans to inaugurate a state-of-the-art Food Technology and Innovation Center of Excellence in Queensland, Australia. This facility is slated to serve as Kerry's new headquarters for both Australia and New Zealand. Meanwhile, Kerry's existing facility in Sydney will continue to function as a specialized research and development applications hub. The Brisbane-based Kerry Australia and New Zealand Development and Application Center will boast comprehensive capabilities, including pilot plants, laboratories, and testing facilities, thereby significantly augmenting Kerry's research and development capacity in the region.
- February 2021: NZMP, Fonterra's esteemed dairy ingredients business, introduced an innovative protein ingredient that outshines other standard whey protein offerings by delivering a remarkable 10% increase in protein content.
Australia Protein Market Report - Table of Contents
1. Introduction
- 1.1 Study Assumptions & Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Market Drivers
- 4.1.1 Increasing awareness towards fitness among consumers
- 4.1.2 Demand for convenient fortified foods
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4.2 Market Restraints
- 4.2.1 Prevalence of allergen intolerance among the consumers
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4.3 Porter's Five Forces Analysis
- 4.3.1 Bargaining Power of Suppliers
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Threat of New Entrants
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. Market Segmentation
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5.1 By Source
- 5.1.1 Animal
- 5.1.1.1 Casein and Caseinates
- 5.1.1.2 Collagen
- 5.1.1.3 Egg Protein
- 5.1.1.4 Gelatin
- 5.1.1.5 Insect Protein
- 5.1.1.6 Milk Protein
- 5.1.1.7 Whey Protein
- 5.1.1.8 Other Animal Protein
- 5.1.2 Microbial
- 5.1.2.1 Algae Protein
- 5.1.2.2 Mycoprotein
- 5.1.3 Plant
- 5.1.3.1 Hemp Protein
- 5.1.3.2 Pea Protein
- 5.1.3.3 Potato Protein
- 5.1.3.4 Rice Protein
- 5.1.3.5 Soy Protein
- 5.1.3.6 Wheat Protein
- 5.1.3.7 Other Plant Protein
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5.2 By 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
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6.3 Company Profiles
- 6.3.1 Archer Daniels Midland Company
- 6.3.2 Australian Plant Proteins PTY LTD
- 6.3.3 Cargill, Incorporated
- 6.3.4 DuPont de Nemours Inc
- 6.3.5 Fonterra Co-operative Group Limited
- 6.3.6 Freedom Foods Group Limited
- 6.3.7 Gelita AG
- 6.3.8 Kerry Group plc
- 6.3.9 Milligans Food Group Limited
- 6.3.10 Tatua Co-operative Dairy Company Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityAustralia Protein Industry Segmentation
The scope of the report includes protein ingredients sourced from animals. Plant and microbial sources that are suitable for application in food, animal feed, and the beauty and personal care industry.
The market is segmented by source and by end-user. Based on the source, the market is segmented into Animal protein, plant protein, and microbial protein. Animal protein on the basis of end-user, the market is segmented into animal feed, personal care and cosmetics, food and beverages, and supplements.
For each segment, the report offers the market size in value terms in USD and in volume terms in tons for all the abovementioned segments.
| By Source | Animal | Casein and Caseinates |
| Collagen | ||
| Egg Protein | ||
| Gelatin | ||
| Insect Protein | ||
| Milk Protein | ||
| Whey Protein | ||
| Other Animal Protein | ||
| By Source | Microbial | Algae Protein |
| Mycoprotein | ||
| By Source | Plant | Hemp Protein |
| Pea Protein | ||
| Potato Protein | ||
| Rice Protein | ||
| Soy Protein | ||
| Wheat Protein | ||
| Other Plant Protein | ||
| By 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 |
Australia Protein Market Research FAQs
What is the current Australia Protein Market size?
The Australia Protein Market is projected to register a CAGR of 4.04% during the forecast period (2024-2029)
Who are the key players in Australia Protein Market?
Archer Daniels Midland Company, DuPont de Nemours Inc, Fonterra Co-operative Group Limited, Freedom Foods Group Limited and Kerry Group plc are the major companies operating in the Australia Protein Market.
Which is the fastest growing region in Australia Protein Market?
Food and Beverages is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Australia Protein Market?
In 2024, the Personal Care and Cosmetics accounts for the largest market share in Australia Protein Market.
What years does this Australia Protein Market cover?
The report covers the Australia Protein Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Australia Protein Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Australia Protein Industry Report
Statistics for the 2024 Australia Protein market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Australia Protein analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
