Taking advantage of new protein markets
This episode we delve into the advantages of new protein markets and the rise of plant based meats.
In February 2020 an AgriFutures Australia report: The Changing Landscape of Protein Production; opportunities and challenges for Australian agriculture, identified the rise of alternative proteins in food markets garnering much attention over the past 18 months.
It states that forecast global demand for protein is strong and will accommodate for growth in both sectors and although alternative protein substitution will continue to increase over the next 10 years this increase will not produce any material threat to the viability of animal agriculture by 2030.
The figures in this report estimate that the additional opportunity for the protein market in 2030 is estimated at $19. 9 billion of which $3.1 billion is for alternative protein categories.
All in all it says the emergence of alternative proteins should not be viewed as a threat but a means of diversification for the producer, processor and consumer.
- Jack Cowin, Founder and CEO, Competitive Foods Australia (inc Hungry Jacks)
- Nick Hazell, Founder and CEO, v2food
- James Madden, Flinders + Co