Market & Trends

Australia 3rd fastest Growing Vegan Market

A market research survey carried out by analytics company Roy Morgan reported that in 2016, 2.1 million Australians identified as meat-free eaters, with the highest proportions of herbivores (in this study the subjects were vegetarian, not vegan) in Sydney, Hobart and Melbourne. In addition, 53.4 percent of Australians reported to be consuming less red meat.

Another market research firm, Euromonitor International, also predicted that by 2020, Australia’s packaged vegan food market will be worth $215 million. Euromonitor’s study showed that despite being known around the world as a nation of carnivores, Australia is the third fastest growing vegan market in the world after the United Arab Emirates and China. Furthermore, according to The Food Revolution Network, the number of vegan food products launched between 2014 and 2016 increased by 92 percent.

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