Australia Animal Protein - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Australia Animal Protein - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Australia animal protein market size is expected to grow from USD 100.47 million in 2024 at a CAGR of 4.01% over the next five years.

Key Highlights

• The consumption of animal products like burgers, hotdogs, minced meat products, and many more is increasing in the country owing to increasing demand for convenience and processed food products. Animal proteins like casein, collagen, egg protein, and many more are used in processed products to increase their functionaly and nutritional content. Proteins like caseins, gelatin, and casinates are used as stabilizers, thickeners, emulsifiers, and supplements in foods like salad dressings, soups, and others.
• Collagen is used as a binding agent and is used in the production of jelly and confectionery products as the application of animal protein is increasing. Owing to the increasing demand, the market players are launching new innovative animal proteins in the market to cater to growing demand. For instance, in May 2021, Darling Ingredients launched a range of purified pharmaceutical-grade gelatin X-Pure, which is used in supplements.
• Furthermore, animal proteins are used in animal feed and personal care products as well. In cosmetics and personal care products, animal proteins provide a natural glow, reduce wrinkles and premature aging, and help restore natural collagen. Animal protein-rich animal feed provides the animals with overall health and nutrition and improves their reproduction capacity. The production of animal protein is further increasing due to increasing consumer demand for protein-rich food and supplements.
• Animal protein provides the utmost nutrition and functionality, due to which the consumption of preventive health supplements is increasing. However, the demand for plant-based protein food and other products is also increasing in the country due to ethical and environmental concerns. This poses a restraint for the market.

Australia Animal Protein Market Trends

Increasing Consumption of Protein-Rich Products

• Australians are increasingly opting for a healthy lifestyle by pushing themselves toward workout regimes and participating in sports. Fitness-conscious consumers and sports enthusiasts are opting for the consumption of protein-based energy drinks and powders to keep muscle strength and have proper muscle building.
• Owing to this, the demand for protein-rich products and ingredients is increasing in the country. The production of meat like beef, veal, and others is increasing in Australia due to increasing livestock. Due to this, the production of animal protein is also increasing in the country.
• According to the Australian Bureau of Statistics data from 2022, the production of beef in Australia was 471 thousand tonnes. Over the medium term, the demand for animal protein is expected to increase, owing to the increasing demand for healthy and functional food and beverages.

Increasing Application of Animal Protein in Supplements

• Health-conscious consumers in the country are opting for preventive healthcare and are opting for the consumption of supplements. The demand for supplements like protein-rich supplements is increasing in the country owing to the increasing older population in the country.
• According to the World Bank data from 2021, 16.75% of the population in Australia is more than 65 years old. Protein-rich health supplements provide muscle building and help with bone health due to the presence of amino acids. The use of animal proteins like collagen in beauty supplements is also increasing as it reduces fine lines and wrinkles on the skin and reduces the signs of aging.
• Therefore, the application of animal protein in supplements is increasing, due to which its demand is increasing. Due to the rising prevalence of lifestyle diseases, health expenditure is increasing in the country, which is boosting the growth of animal protein.

Australia Animal Protein Industry Overview

The Australia animal protein market is fragmented, with regional and global players dominating the market. The prominent players in the market include Fonterra Co-operative Group Limited, GELITA AG, Kerry Group PLC, Collagen Australia Co, and Noumi Limited. The demand for animal protein is increasing as it provides better nutrition and high calories. The market players are innovating new animal protein products to cater to growing market demand. The prominent players are also adopting strategies like mergers, acquisitions, partnerships, and many more to expand their product reach.

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