Market Size of Australia Protein Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.04 % |
| Fastest Growing Market | Food and Beverages |
| Largest Market | Personal Care and Cosmetics |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Australia Protein Market Analysis
The Australia protein market is expected to grow from USD 221.2 million in 2023 at a CAGR of 4.04% in the upcoming five years.
- Animal-derived proteins such as collagen, keratin, elastin, silk protein, milk protein, egg protein, lanolin, honey, and caviar extract are extensively used in the manufacturing and processing of beauty and personal care products in Australia. These ingredients tend to offer skincare and haircare benefits such as improving skin elasticity, reducing wrinkles, enhancing shine, strengthening hair, and providing moisturization, resulting in increasing demand for animal-based proteins in the beauty and personal care industry.
- As Australia exports a significant amount of beauty and personal care products to New Zealand, China, the United States, and other countries, the demand for animal protein in the industry is expected to increase in the coming years. For instance, According to the Australian Bureau of Statistics, Australia exported beauty and personal care products worth USD 148.73 million in 2021.
- Animal protein is extensively used in the production of animal feeds such as poultry feed, pet foods, and other animal feed products that are extensively consumed across the country. For instance, poultry feed incorporates animal protein sources like fish meal, poultry meal, and meat and bone meal to support growth, muscle development, and egg production in chickens and ducks. With increasing poultry consumption in the country, the demand for animal protein in the poultry industry is expected to increase in the country. For instance, According to the Organization for Economic Co-operation and Development (OECD), per capita consumption of poultry in Australia stood at 46.12 kg in the year 2022. Additionally, animal protein is also a key ingredient in pet food formulations, supporting the growth, energy, and health of dogs, cats, and other pets. Swine feed often includes animal protein sources like dried whey, fish meal, and plasma proteins to enhance piglet growth and health. These factors tend to increase the demand for protein in the animal feed industry in Australia.
Australia Protein Industry Segmentation
The scope of the report includes protein ingredients sourced from animals. Plant and microbial sources that are suitable for application in food, animal feed, and the beauty and personal care industry.
The market is segmented by source and by end-user. Based on the source, the market is segmented into Animal protein, plant protein, and microbial protein. Animal protein on the basis of end-user, the market is segmented into animal feed, personal care and cosmetics, food and beverages, and supplements.
For each segment, the report offers the market size in value terms in USD and in volume terms in tons for all the abovementioned segments.
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Australia Protein Market Size Summary
The Australian protein market is experiencing a notable expansion, driven by the increasing demand for both animal and plant-based proteins across various industries. Animal-derived proteins are extensively utilized in the beauty and personal care sector, where they are valued for their skincare and haircare benefits. This demand is further bolstered by Australia's significant export of beauty products to countries like New Zealand, China, and the United States. Additionally, the animal feed industry, particularly in poultry and pet food, relies heavily on animal proteins to support growth and health, contributing to the market's growth. The rising consumer preference for natural and health-benefitting protein ingredients is also influencing the market, with protein-rich convenience foods and supplements gaining popularity among health-conscious individuals.
On the other hand, the shift towards plant-based proteins is gaining momentum due to increasing health concerns such as gluten and lactose intolerance. Consumers are increasingly opting for plant-based protein products, leading manufacturers to introduce innovative plant-based offerings to meet this demand. Companies like All G Foods are capitalizing on this trend by launching plant-based protein products that mimic the taste and texture of traditional meat products. The market is moderately consolidated, with major players like Archer Daniels Midland Company, DuPont de Nemours Inc, and Fonterra Co-operative Group Limited leading the charge. These companies are expanding their product offerings and investing in new facilities to enhance their research and development capabilities, further driving the growth of the protein market in Australia.
Australia Protein Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Increasing awareness towards fitness among consumers
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1.1.2 Demand for convenient fortified foods
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1.2 Market Restraints
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1.2.1 Prevalence of allergen intolerance among the consumers
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1.3 Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. Market Segmentation
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2.1 By Source
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2.1.1 Animal
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2.1.1.1 Casein and Caseinates
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2.1.1.2 Collagen
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2.1.1.3 Egg Protein
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2.1.1.4 Gelatin
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2.1.1.5 Insect Protein
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2.1.1.6 Milk Protein
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2.1.1.7 Whey Protein
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2.1.1.8 Other Animal Protein
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2.1.2 Microbial
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2.1.2.1 Algae Protein
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2.1.2.2 Mycoprotein
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2.1.3 Plant
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2.1.3.1 Hemp Protein
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2.1.3.2 Pea Protein
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2.1.3.3 Potato Protein
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2.1.3.4 Rice Protein
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2.1.3.5 Soy Protein
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2.1.3.6 Wheat Protein
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2.1.3.7 Other Plant Protein
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2.2 By End-User
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2.2.1 Animal Feed
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2.2.2 Personal Care and Cosmetics
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2.2.3 Food and Beverages
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2.2.3.1 Bakery
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2.2.3.2 Beverages
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2.2.3.3 Breakfast Cereals
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2.2.3.4 Condiments/Sauces
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2.2.3.5 Confectionery
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2.2.3.6 Dairy and Dairy Alternative Products
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2.2.3.7 Meat/Poultry/Seafood and Meat Alternative Products
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2.2.3.8 RTE/RTC Food Products
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2.2.3.9 Snacks
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2.2.4 Supplements
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2.2.4.1 Baby Food and Infant Formula
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2.2.4.2 Elderly Nutrition and Medical Nutrition
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2.2.4.3 Sport/Performance Nutrition
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Australia Protein Market Size FAQs
What is the current Australia Protein Market size?
The Australia Protein Market is projected to register a CAGR of 4.04% during the forecast period (2024-2029)
Who are the key players in Australia Protein Market?
Archer Daniels Midland Company, DuPont de Nemours Inc, Fonterra Co-operative Group Limited, Freedom Foods Group Limited and Kerry Group plc are the major companies operating in the Australia Protein Market.
