Value added by the plant-based meat industry Australia FY 2019-2023

Australia's plant-based meat sector added over 45 million Australian dollars to the country's economy in financial year 2023, consisting of 9.7 million dollars of direct value-added and 36.1 million dollars of indirect value-added. The direct contribution of the plant-based meat industry to the Australian economy almost doubled from financial year 2019. 

A changing Australian diet?

With a growing interest in reducing or avoiding meat consumption across Australia, plant-based alternatives represent a significant growth opportunity. Consumers can choose from various plant-based meats, from mock chicken nuggets to burgers. From a nutritional standpoint, these products have on average a lower sodium content, higher protein, and less fat and saturated fat compared to traditional meat products. 

Economic impacts of Australia’s plant-based meat sector

The value added to the Australian economy by the plant-based meat sector as well as consumer expenditure on plant-based meat products is projected to increase significantly up to 2033. Moreover, the employment contribution of this sector is also expected to grow, with the highest number of direct full-time jobs currently held in New South Wales. The plant-based meat industry in Australia has the potential to grow into a billion-dollar industry and to create up to 6,000 full-time jobs.