$25 billion market for Australian producers
CSIRO calculates market demand for healthy and sustainable products could be worth $15 billion in Australia and $10 billion in exports by 2030.
CSIRO, Australia's National Science Agency, has published an economic analysis called " Growth opportunities for Australian food and agribusiness".
It projects a high rate of growth in demand for healthy and sustainable products which could make the food and agribusiness sector more valuable than mining.
CSIRO examined three growth opportunity themes:
Products for health and wellbeing: Foods and beverages that provide specific health benefits above and beyond basic nutrition, and target consumers who are either
health conscious or have specific medical/dietary needs. Key opportunities include free-from and natural foods, fortified and functional foods, vitamins and supplements, and personalised nutrition.
Sustainable solutions: Environmentally and socially responsible manufacturing processes and products, and the recovery of novel, value-added products from waste streams. Key opportunities include organic waste conversion, sustainable packaging and alternative protein sources- including hemp.
Premium interactions: Products that yield a premium price due to quality and convenience, luxury status, novel attributes or their integration with food‑based experiences. Key opportunities include convenience meals, luxury and novel products, agritourism and experiences.
Especially alternative protein sources (such as soy, pea and hemp as well as emerging products such as insect-based ingredients) do not only constitute a domestic and export opportunity estimated at $6.6 biliion in 2030, it may also be worth $5.4 billion in carbon emission and water savings.
Please read the full CSIRO analysis for details: