According to new data from the independent alternative protein think tank Food Frontier, a shift in plant-based meat products is happening throughout major Australian retailers.
A mid-2023 audit of major supermarkets in Melbourne and Sydney found a significant increase in the volume and types of plant-based meats over the last three years.
The supply of formats like schnitzels and nuggets, mince and meatballs, and deli slices, snacking, and finger foods also point to consumers wanting convenience, according to the audit.
Consumer interest in products that can be incorporated into a variety of dishes has seen more versatile, functional formats hit shelves, like beef-style strips and chunks and whole cut style, although there are still fewer than 10 products of each in the market.
Food Frontier chief executive Simon Eassom said the plant-based meat market continued to evolve, and more changes were yet to come.
"We know that the early adopters of plant-based meats in Australia and around the world are flexitarians," Dr Eassom said.
"They are the cohort, used to centre-of-plate proteins or protein-based dishes, that are now looking for healthier alternatives to those conventional protein sources and for products that mimic what they're used to buying," he said,
He said the arrival of plant-based options consisted of utility foods like sausages and burgers but has seen some contraction in the number of manufacturers initially providing the same product.
"The data gathered by Food Frontier indicates that other formats that can be incorporated into a much wider range of dishes are gaining favour and manufacturers are responding accordingly," Dr Eassom said.
In major retail in Australia, the plant-based meat category has gone from fewer than five brands made by Australian/NZ businesses in 2017 to more than 30.
There has also been a three-fold increase in the number of products on shelves over the last few years, from less than 90 to just under 300.
Australian and New Zealand brands also make up two-thirds of products in major Australian retail from less than half in 2019.
"We expect the category to continue to evolve and we wouldn't be surprised to see further changes by way of company integration, and product formulations," Dr Eassom said.
"This is a food industry that's continuing to innovate and adapt to consumer tastes and budgets, plus the availability of more sophisticated ingredients will help manufacturers improve products to meet expectations around taste and texture as well as price."
Food Frontier will release its third state of the industry report later this year, while CSIRO studies have estimated that the plant-based products category in Australia could reach $6 billion in value by 2030.
