Introduction
Plant-based meat products have gained significant popularity in Australia in recent years, as consumers become more health-conscious, environmentally aware, and compassionate towards animals. In this report, we will explore the top 10 plant-based meat brands in Australia, looking at their financial performance, market share, and industry insights.
1. Beyond Meat
Financial Data
Beyond Meat, a leading plant-based meat brand from the United States, has a strong presence in the Australian market. The company reported revenue of $406.8 million in 2020, representing a 36.6% increase from the previous year. Beyond Meat’s products are widely available in major supermarkets and restaurants across Australia.
Industry Insights
Beyond Meat’s success in Australia can be attributed to its innovative product range, which includes burgers, sausages, and mince made from plant-based ingredients such as pea protein and beetroot extract. The company’s focus on sustainability and animal welfare has also resonated with Australian consumers.
2. Impossible Foods
Financial Data
Impossible Foods, another prominent plant-based meat brand from the United States, entered the Australian market in 2020. The company reported revenue of $700 million in 2020, with a significant portion of sales coming from international markets, including Australia.
Industry Insights
Impossible Foods has gained traction in Australia due to its realistic meat-like texture and flavor, which is achieved through the use of heme, a molecule found in plants. The company’s partnerships with restaurants and foodservice providers have also helped increase its visibility in the Australian market.
3. v2food
Financial Data
v2food is an Australian plant-based meat brand that has rapidly grown in popularity since its launch in 2019. The company reported revenue of $35 million in 2020, with a strong presence in retail outlets and quick-service restaurants across Australia.
Industry Insights
v2food’s success in Australia can be attributed to its focus on creating meat alternatives that closely mimic the taste and texture of traditional meat products. The company’s partnerships with local farmers and food producers have also helped strengthen its supply chain and distribution network.
4. The Alternative Meat Co.
Financial Data
The Alternative Meat Co. is a popular Australian plant-based meat brand that offers a wide range of products, including burgers, sausages, and meatballs. The company reported revenue of $20 million in 2020, with a strong presence in supermarkets and specialty stores across Australia.
Industry Insights
The Alternative Meat Co.’s success can be attributed to its commitment to using high-quality ingredients and sustainable production methods. The company’s products are also competitively priced, making them accessible to a wide range of consumers in Australia.
5. Funky Fields
Financial Data
Funky Fields is a Danish plant-based meat brand that has gained popularity in Australia for its range of plant-based mince, burgers, and sausages. The company reported revenue of $15 million in 2020, with a growing presence in supermarkets and health food stores across the country.
Industry Insights
Funky Fields’ success in Australia can be attributed to its focus on creating flavorful and versatile plant-based meat alternatives. The company’s products are known for their organic and non-GMO ingredients, appealing to health-conscious consumers in the Australian market.
6. Tofurky
Financial Data
Tofurky is a well-established plant-based meat brand from the United States that has a strong presence in the Australian market. The company reported revenue of $50 million in 2020, with a diverse product range that includes deli slices, sausages, and tempeh.
Industry Insights
Tofurky’s success in Australia can be attributed to its long-standing reputation for quality and innovation in the plant-based meat industry. The company’s commitment to sustainability and ethical sourcing has also resonated with Australian consumers.
7. Quorn
Financial Data
Quorn is a British plant-based meat brand that has a strong presence in the Australian market. The company reported revenue of $200 million in 2020, with a wide range of products available in supermarkets and health food stores across Australia.
Industry Insights
Quorn’s success in Australia can be attributed to its focus on using mycoprotein, a high-quality protein source derived from fungi. The company’s products are known for their health benefits and sustainable production methods, making them a popular choice among Australian consumers.
8. Gardein
Financial Data
Gardein is a Canadian plant-based meat brand that has gained popularity in Australia for its range of meatless chicken, beef, and pork products. The company reported revenue of $30 million in 2020, with a growing presence in supermarkets and specialty stores across the country.
Industry Insights
Gardein’s success in Australia can be attributed to its focus on creating convenient and delicious plant-based meat alternatives. The company’s products are widely available and competitively priced, appealing to a broad range of consumers in the Australian market.
9. Fry’s Family Food Co.
Financial Data
Fry’s Family Food Co. is a South African plant-based meat brand that has gained popularity in Australia for its range of vegan burgers, sausages, and nuggets. The company reported revenue of $10 million in 2020, with a strong presence in supermarkets and health food stores across the country.
Industry Insights
Fry’s Family Food Co.’s success in Australia can be attributed to its focus on creating tasty and nutritious plant-based meat alternatives. The company’s products are free from artificial additives and preservatives, appealing to health-conscious consumers in the Australian market.
10. Linda McCartney Foods
Financial Data
Linda McCartney Foods is a British plant-based meat brand that has a strong presence in the Australian market. The company reported revenue of $25 million in 2020, with a diverse product range that includes vegetarian sausages, burgers, and pies.
Industry Insights
Linda McCartney Foods’ success in Australia can be attributed to its focus on creating delicious and convenient plant-based meat alternatives. The company’s products are widely available in supermarkets and specialty stores, catering to the growing demand for plant-based options in the Australian market.
In conclusion, the plant-based meat industry in Australia is experiencing significant growth, driven by consumer demand for healthier, more sustainable food options. The top 10 plant-based meat brands highlighted in this report are at the forefront of this trend, offering innovative products that appeal to a wide range of consumers. As the market continues to expand, we can expect to see even more plant-based meat brands enter the Australian market, further diversifying the options available to consumers.
