Capturing a $13 billion protein market opportunity: CSIRO

CSIRO’s new protein roadmap released today has outlined how Australia can help to meet a growing global demand for protein and unlock a $13 billion market opportunity.

The Commonwealth Scientific and Industrial Research Organisation has released a report titled 'Protein: A roadmap for unlocking technology-led growth opportunities for Australia’ which demonstrates how the nation can sustainability produce more protein using digital.

According to CSIRO CEO Dr Larry Marshall, “CSIRO’s Future Protein Mission recognises the scale of this challenge and brings together a wide network of partners with the latest innovative technology to seize this opportunity for a resilient and sustainable food system.”

The scientific research agency is looking to digital technologies to accelerate growth in the protein industry.

“We can supercharge growth in our traditional protein industries by harnessing technologies like digital traceability and integrity systems that enhance the premium status of Australian red meat, and grow new complementary protein markets through techniques like precision fermentation to generate a suite of new Australian products,” said Marshall.

The report points to both traditional and non-traditional meat sources of protein and plant based options. One unlikely source of protein the report points to is insects that can be leveraged for food and feed, as well as using lesser cuts of meat in protein powders and neutraceuticals.

“As protein demand grows and new consumer trends emerge, solutions from science can help create new markets and complement our existing, globally competitive traditional markets. This will help shift Australia’s reputation from being the world’s food bowl of commodities to becoming a global delicatessen of unique higher value exports.”

According to Dr Mirjana Prica, managing director of the Food and Agribusiness Growth Centre, the growing demand for protein globally presents a significant export opportunity in Australia.

“Consumer demand is increasing for all protein sources. Australia has a real opportunity to have a thriving local food manufacturing sector, while becoming a leading exporter in value added traditional, plant, and novel protein products,” Dr Prica said.

“Building domestic capacity and infrastructure to not only tap, but to build scale, for the plethora of protein opportunities is critical if we are to switch from importing ingredients to producing our own domestically.”