Alternative Proteins

Opportunities in the Australian Alternative Proteins Market

Melbourne delivers 40% of Australia’s total food and beverage R&D.

Develop, test and produce your food innovations here. Find out how.

In line with the growing global demand for sustainable and ethical food sources, Australia’s alternative protein market is set to be worth more than A$6.8 billion by 2030, including $2.5 billion exports.1

Melbourne and Victoria’s robust agri-food foundation, advanced technological capabilities, and supportive business environment make it an ideal location for companies looking to innovate and expand in this dynamic industry.

One third of alternative protein companies in Australia call Victoria home. This includes pioneer companies such as Biospringer, General Mills Australia and Goodman Fielder.

Victoria’s alternative proteins sector produces a variety of products such as plant-based proteins, cultured meats, and insect-based foods.

The region is known for its strong agriculture, advanced research facilities, and a focus on food technology and innovation. It boasts advanced manufacturing, world-class research institutions, and a collaborative ecosystem that encourages innovation. The state is also a leading hub for biotechnology and food technology, attracting top talent and investment.

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Opportunities in alternative proteins

Why Melbourne?

Established world-class agrifood ecosystem and supply chain

  • In 2021-22, Victoria’s gross value of agriculture production reached a new record high of $20.2 billion, accounting for 23% of Australia’s agriculture production2
  • $20.2 billion gross value of agriculture production - a new record high, accounting for 23% of Australia’s agriculture production2
  • Valued at $36.9 billion Victoria leads the nation in food manufacturing
  • Victoria accounted for 40% of Australia’s total food and beverage R&D in 2021-22, the highest of all Australian states3
  • Victoria has over 14 agricultural R&D facilities​  and world-leading food innovation centres ​
  • Victoria has a strong competitive advantage exporting to Asia’s largest markets compared to North America and Europe​, enabled by Australia’s free trade agreements
  • Victoria is Australia’s largest food and fibre exporter with exports valued at $19.6 billion in 2022-23, 24% of national share​
  • Australia exports more than 70% of its high quality, traceable protein commodities, including grains, legumes, and meat4
  • Major crops produced in Victoria include wheat, barley, lentil, faba and field pea.  Minor crops include oats, lupin and chickpea.
  • Other crops  produced in Australia  include canola, pulses and oats. Pulses include field pea, faba and broad bean, chickpea, lentil, lupin and mung bean. Soybean production is limited.
  • Melbourne also offers co-working lab spaces and contract manufacturers, such as Co-Labs Melbourne and Yild Technical Spaces

Leverage Melbourne’s world-class R&D capacity and skills

Benefit from supportive state and federal governments policies and programs

  • $65 million funding for a strategy for Victorian agriculture
  • $2 billion Breakthrough Victoria Fund to help innovators and businesses commercialise their products​. It has recently funded Eden Brew
  • The federal government’s Research & Development Tax Incentive
  • The Victorian Government’s Manufacturing Statement: Made In Victoria 2030 and Innovation Statement prioritise expanding Victoria’s advanced food manufacturing and world-class innovation precincts. It is committed to investing in high-growth sectors
  • ‘Alternative proteins’ is identified as a priority emerging industry in the Victorian Government’s Strategy for Victorian Agriculture
  • The CSIRO’s National Protein Road Map identifies five key areas for investment to turn primary inputs into higher-value products for national markets
  • The Victorian Government is collaborating with industry and research institutes to achieve CSIRO’s Future Protein Mission
  • The Victorian Government has sponsored Australia and New Zealand’s inaugural Alt Proteins 22 Conference, Alt Proteins 23 and Alt Proteins 2024
  • Access to Agriculture Victoria’s pre and on-farm R&D capabilities, infrastructure and support programs, including:
    • National pulse breading program
    • Ongoing pulse research as value value-added ingredient in food and beverages
    • Support capability - speed breeding glasshouses, Free Air Temperature Extreme (FATE) infrastructure, Centre for Digital Agriculture – remote sensing
Source:
1. CSIRO Futures (2019), Growth opportunities for Australian food and agribusiness – Economic analysis and market sizing.
2. Agriculture Victoria - Victoria's agricultre and food industries
3. Food and Beverage Manufacturing Factsheet, February 2024.
4. CSIRO, Protein – A roadmap for unlocking technology-led growth opportunities

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