Size of the prize

Building scale in premium markets

The National Farmers Federation has set a target to double the value of Australian agriculture from $50  Billion to $100 Billion p.a by 2030.

This is achievable with smart investment in the value chain guided by insight into future customer preferences and needs.

Emerging markets in Asia provide sustainable demand to underpin investment in advanced systems for production of high-value, customised goods.

Food Innovation Australia  Ltd (FIAL) research indicates that markets for nutrition and quality conscious consumers may reach a combined AU$8 trillion per annum in value by 2025, with the majority of new demand in Asia. By 2025:

• The global market for foods catering to demand for verified, premium fine foods and health prepared ‘convenience meals’ alone is projected to be AU$2.7–$3.6 trillion.
• The ‘health and wellness’ category of food, which includes organic foods, ‘free from’ foods (for people with allergies) and foods with special environmental credentials such as indigenous foods, is projected to be worth AU$3.4 trillion per annum.
• The emerging market for ‘targeted eating’ – product reformulation to reduce fat and sugar content, functional or fortified foods, and personalised foods designed to address specific nutrient needs and health concerns is projected to be worth AU$690–AU$770 billion per annum.