Australia Plant-Based Food Market

Australia Plant-Based Food Market Overview:

The Australia plant-based food market size reached USD 330.4 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 981.3 Million by ​2033​, exhibiting a growth rate (CAGR) of 11.50% during 2025-2033. The market is expanding robustly, backed by growing consumer uptake, shifting eating habits, and increasing availability of plant foods throughout the nation via mainstream stores and online channels.

Australia Plant-Based Food Market Trends:

Expansion of Clean-Label and Nutrient-Enriched Alternatives

Australian consumers are increasingly concerned with transparency and nutritional content in plant-based food options. This has driven a clear trend towards clean-label products—those produced from few, familiar ingredients and devoid of artificial ingredients. For instance, in April 2024, Else Nutrition officially entered the market with the launch of its soy-free, plant-based infant and toddler formula in Australia, providing clean-label options produced from almond, buckwheat, and tapioca. Moreover, manufacturers are therefore increasing the nutritional content of plant-based options by including ingredients high in protein, fiber, and key micronutrients. This is particularly evident in meat and dairy substitutes, in which legumes, grains, and fortified blends are taking the place of synthetic fillers. Consumers consider such formulas to be more reliable and conducive to long-term health objectives. This trend is also encouraged by consumer interest in whole food-based diets, especially among flexitarian and health-conscious segments. Australia plant-based food market outlook shows a robust growth path, as companies sharpen their products to respond to changing expectations regarding clean formulation and functional nutrition, strengthening consumer loyalty through products that meet both health and ethical standards.

Diversification Across Meal Categories and Formats

Plant food in Australia is no longer restricted to meat alternatives or soy milk; it is growing across meal categories such as snacks, desserts, ready meals, sauces, and even bread. For example, in September 2023, NEXT Foods rolled out a new range of plant-based pasta sauces in 550 Coles supermarkets nationwide, with locally produced pouches containing plant-based meat and chef-recipe variants such as Carbonara and Bolognese. Furthermore, consumers are looking for plant-based options that fit easily into their everyday eating routines, ranging from breakfast cereals enriched with plant protein to egg-free condiments and dairy-free frozen desserts. This diversification indicates a move from niche consumption to mass adoption, with plant-based ingredients cropping up in both classic and gourmet recipes. It also illustrates the growing versatility of alternative proteins and oils, which enable flavor and texture innovation that resonates with broader consumers. Australia plant-based food market share is increasingly making headway in general grocery expenditure, especially as supermarkets and food service companies expand their plant-based offerings. Having these products available in daily categories simplifies plant-based consumption and makes it more accessible to households regardless of dietary preference.

Strong Growth in Regional and Online Retail Channels

Demand for plant-based food in Australia is growing not just in the major cities but also throughout regional regions, underpinned by enhanced distribution channels and online retail platforms. Consumers in lower-density states are intensely looking to online channels to access a greater variety of plant-based foods that might not be available in local supermarkets. These involve specialty condiments, allergen-friendly dairy substitutes, and meal packages aligned with vegan or allergen-specific diets. Virtual retailers have larger product variety and complete ingredient disclosures, appealing to knowledgeable shoppers interested in targeting distinct health or moral criteria. In parallel, leading chain stores are increasing plant-based shelf space among regional units. Australia plant-based food market growth is thus being fueled by the twin forces of e-commerce and regional retail expansion, marking a national normalization of plant-based consumption that goes beyond metropolitan trends and extends to varied consumer bases across the nation.

Australia Plant-Based Food Market Segmentation:

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

Type Insights:

• Dairy Alternatives
• Meat Alternatives
• Egg Substitutes and Condiments
• Others

The report has provided a detailed breakup and analysis of the market based on the type. This includes dairy alternatives, meat alternatives, egg substitutes and condiments, and others.

Source Insights:

• Soy
• Almond
• Wheat
• Others

A detailed breakup and analysis of the market based on the source have also been provided in the report. This includes soy, almond, wheat, and others.

Distribution Channel Insights:

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Stores
• Others

The report has provided a detailed breakup and analysis of the market based on the distribution channel. this includes supermarkets and hypermarkets, convenience stores, online stores, and others.

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, 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 Plant-Based Food Market News:

• In November 2024, Harvest B opened Australia's first plant-based meat ingredient production plant in Penrith, NSW, delivering locally made protein substitutes to feed food producers clean-label, shelf-stable products to advance domestic manufacturing and help lessen reliance on imported plant-based proteins.
• In September 2024, Australian brand vEEF launched a carbon-neutral plant-based meat range, such as beef mince and a range of sausages, now stocked at Woolworths. Equally priced with animal meat, the range has less plastic packaging and aims to meet increasing demand for sustainable, affordable, and healthy food choices among Australian homes.

Australia Plant-Based Food Market Report Coverage:

Key Questions Answered in This Report:

• How has the Australia plant-based food market performed so far and how will it perform in the coming years?
• What is the breakup of the Australia plant-based food market on the basis of type?
• What is the breakup of the Australia plant-based food market on the basis of source?
• What is the breakup of the Australia plant-based food market on the basis of distribution channel?
• What is the breakup of the Australia plant-based food market on the basis of region?
• What are the various stages in the value chain of the Australia plant-based food market? 
• What are the key driving factors and challenges in the Australia plant-based food?
• What is the structure of the Australia plant-based food market and who are the key players?
• What is the degree of competition in the Australia plant-based food 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 plant-based food market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Australia plant-based food 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 plant-based food 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.