A new report by Food Frontier has examined the growth of the Australian plant-based sector using modelling from Deloitte Access Economics. The report looks at statistics from the past year and predicts some exciting future trends for the industry.
Report: Plant-Based Meat Sales Surge by 47%, Price Parity Gap Closes in Australian Market
Food Frontier, an independent think tank on alternative proteins in Australia and New Zealand, has released its 2023 State of the Industry report. It reveals the growth of the plant-based meat sector, an increase in per-capita consumption and foodservice sales, and positive developments regarding price parity. Looking at the general landscape, the analysis shows that the plant-based meat industry is growing despite navigating the challenges of a new food category, economic difficulties, inflation, and the dried investment environment. The figures show that plant-based meat sales increased by 47% between 2020 and 2023, and per-capita consumption increased by 28%. Dr Simon Eassom, CEO of Food Frontier, commented on the report, “Despite the economic challenges faced by plant-based meat companies here and overseas it’s evident that the industry is here …