Australia Meat Substitutes Market

Australia Meat Substitutes Market Overview:

The Australia meat substitutes market size reached USD 204.12 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 394.09 Million by 2033, exhibiting a growth rate (CAGR) of 6.80% during 2025-2033. At present, Australian consumers are becoming more health and wellbeing-conscious, driving the need for meat alternatives. Moreover, the increasing focus on environmental sustainability among consumers is propelling the market growth. This trend, along with the heightened product innovation and increasing variety is expanding the Australia meat substitutes market share.

Australia Meat Substitutes Market Trends:

Growing Health Awareness

Australian consumers are becoming more health and wellbeing-conscious, driving the need for meat substitutes. The changing dietary habits are mainly linked to increased worries related to the health implications of eating products from animal sources, including high cholesterol and saturated fats, and the connections to chronic health conditions like heart disease and diabetes. Consequently, people are actively looking for substitute protein products that contain less fat and calories yet provide adequate nutritional benefits. As awareness about plant-based nutrition rises, people are turning towards meat substitutes to enhance health and well-being. The trend is further supported by research on the benefits of plant-based diets, leading health-aware people to look for more sustainable and health-promoting food options. Increased demand for plant-based foods, together with an expanding awareness of the necessity for nutritional intake, is also fueling market growth for meat substitutes in Australia.

Heightened Environmental Awareness

Environmental sustainability is propelling the Australia meat substitutes market growth. With increased knowledge among consumers about the environmental effects of meat production such as deforestation, emission of greenhouse gases, and water consumption, there is an evident movement towards embracing environmentally friendly options. Individuals are becoming increasingly aware about how food can affect the health of the planet, leading to the transition from traditional meat products to plant-based alternatives with a smaller carbon footprint. The common fear of climate change is inspiring people to adopt meat substitutes as a means of curtailing individual contributions to environmental degradation. In response to this, various food companies are innovating and developing more sustainable alternatives, sustaining the call for plant-based proteins. The trend is becoming more prominent as more Australians embrace sustainability in their food choices, thereby playing a major role in supporting the growth of the market. Moreover, the recent Food Frontier consumer survey from 2024 indicated that about 5% of Australians were following a vegan diet. With the rise in veganism, 44% of Australians think that animal farming affects climate change, and a notable 79% chose to abstain from meat at least one day each week.

Product Innovation and Variety Advancements

The Australian meat substitutes sector is driven by product innovation progress and increasing variety. There are ongoing improvements as companies innovate new plant-based foodstuffs that bear a strong resemblance to the taste, texture, and look of regular meat. This can cater to wider audiences, including those not necessarily being vegan or vegetarian but seeking to minimize their meat intake. These developments are making meat alternatives more convenient and desirable, with better flavor, convenience, and nutritional profiles. Moreover, new product categories are being launched, including plant-based seafood and dairy products, which are widening the applicability of the meat substitutes market. The steady investment in research is assisting in the development of improved production processes, higher-quality products, and meeting a broader range of dietary requirements. In 2024, Australian plant-based meat brand vEEF introduced a line of four carbon-neutral products, all priced at the same level as or less than their animal-based alternatives. The items comprise plant-based classic sausages, plant-based beef mince, plant-based smokey sausages, and plant-based chorizo sausages. They are reportedly crafted by chefs and filled with nutrients, featuring 50% less plastic packaging compared to earlier vEEF items.

Australia Meat Substitutes Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on type and distribution channel.

Type Insights:

• Tempeh 
• Textured Vegetable Protein 
• Tofu 
• Others 

The report has provided a detailed breakup and analysis of the market based on the type. This includes tempeh, textured vegetable protein, tofu, and others.

Distribution Channel Insights:

• Off-Trade
  • Convenience Stores 
  • Online Channels 
  • Supermarkets and Hypermarkets 
  • Others 
• On-Trade 

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes off-trade (convenience stores, online channels, supermarkets and hypermarkets, and others) and on-trade.

Regional Insights:

• Australia Capital Territory & New South Wales
• Victoria & Tasmania 
• Queensland 
• Northern Territory & Southern Australia 
• Western Australia

The report has also provided a comprehensive analysis of all the major regional markets, which include Australia Capital Territory & New South Wales, Victoria & Tasmania, Queensland, Northern territory & Southern Australia, and Western Australia.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Australia Meat Substitutes Market Report Coverage:

Key Questions Answered in This Report:

• How has the Australia meat substitutes market performed so far and how will it perform in the coming years?
• What is the breakup of the Australia meat substitutes market on the basis of type?
• What is the breakup of the Australia meat substitutes market on the basis of distribution channel?
• What is the breakup of the Australia meat substitutes market on the basis of region?
• What are the various stages in the value chain of the Australia meat substitutes market? 
• What are the key driving factors and challenges in the Australia meat substitutes market?
• What is the structure of the Australia meat substitutes market and who are the key players?
• What is the degree of competition in the Australia meat substitutes market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Australia meat substitutes market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Australia meat substitutes market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Australia meat substitutes industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.