Autralia & New Zealand Plant-Based Food Ingredients Market by Source (USD Million)

Year SOY PEA OATS COCONUT SEEDS & NUTS HERBS & SPICES FRUITS & VEGETABLES OTHERS
2016 $ 68.9 $ 45.7 $ 27.2 $ 10.3 $ 62.4 $ 18.2 $ 50.0 $ 46.0
2017 $ 74.7 $ 49.8 $ 29.6 $ 11.2 $ 68.0 $ 19.7 $ 54.4 $ 49.7
2018 $ 81.1 $ 54.3 $ 32.3 $ 12.3 $ 74.2 $ 21.4 $ 59.2 $ 53.7
2019 $ 88.2 $ 59.6 $ 35.4 $ 13.5 $ 81.2 $ 23.2 $ 64.8 $ 58.1
2020 $ 94.8 $ 64.6 $ 38.3 $ 14.6 $ 87.9 $ 24.9 $ 70.0 $ 62.1
2021 $ 103.2 $ 71.1 $ 42.0 $ 16.0 $ 96.3 $ 27.1 $ 76.7 $ 67.3
2022 $ 112.5 $ 78.2 $ 46.0 $ 17.6 $ 105.7 $ 29.5 $ 84.0 $ 73.0
2023 $ 122.9 $ 86.2 $ 50.6 $ 19.4 $ 116.1 $ 32.1 $ 92.2 $ 79.3
2024 $ 134.4 $ 95.2 $ 55.7 $ 21.4 $ 127.8 $ 35.1 $ 101.4 $ 86.2
2025 $ 147.5 $ 105.1 $ 61.5 $ 23.6 $ 141.0 $ 38.5 $ 111.7 $ 94.1
2026 $ 162.1 $ 116.4 $ 68.0 $ 26.1 $ 156.0 $ 42.2 $ 123.4 $ 102.9
2027 $ 178.3 $ 129.2 $ 75.2 $ 29.0 $ 172.6 $ 46.4 $ 136.4 $ 112.6
2028 $ 196.6 $ 143.6 $ 83.5 $ 32.2 $ 191.5 $ 51.0 $ 151.2 $ 123.5
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Autralia & New Zealand Plant-Based Food Ingredients Market by Source (USD Million)

Synopsis
The above chart is Autralia & New Zealand Plant-Based Food Ingredients Market by Source (USD Million)

Market Dynamics

the demand for plant-based food ingredients in australia and new zealand is at an all-time high, as more and more consumers are opting for a plant-based diet. this growing demand is not just limited to vegetarians and vegans, but also includes a significant number of flexitarians and health-conscious individuals who are looking for healthier and more sustainable food options. one of the major reasons for this increasing demand is the rising awareness about the health benefits of a plant-based diet. plant-based foods are naturally high in vitamins, minerals, and antioxidants, making them a healthier option compared to processed or animal-based foods. they are also free from harmful additives, preservatives, and hormones, making them a popular choice among health-conscious consumers. additionally, studies have shown that a plant-based diet can help in preventing and managing various health conditions such as obesity, diabetes, and heart disease, further driving the demand for plant-based food ingredients. another factor contributing to the growth of the plant-based food ingredients market in australia and new zealand is the increasing concern for animal welfare and sustainability. the consumption of meat, dairy, and other animal-derived products is not only harmful to the environment but also raises ethical concerns about animal welfare. this has led to a shift towards plant-based alternatives, creating a growing demand for plant-based food ingredients in the market. furthermore, the food industry in australia and new zealand is also responding to this demand by introducing a wide range of plant-based products to cater to the needs of the consumers. from plant-based meats to dairy-free alternatives, there is a diverse range of plant-based options available in the market. this has not only expanded the choices for consumers but has also made plant-based eating more accessible and convenient. the food industry in australia and new zealand is also witnessing a rise in innovative and sustainable plant-based food ingredients. with a focus on using locally sourced and seasonal ingredients, the market is witnessing a surge in the availability of plant-based options that are not only healthy but also environmentally friendly. in conclusion, the demand for plant-based food ingredients in australia and new zealand is driven by a combination of factors such as increasing health consciousness, animal welfare concerns, and a growing preference for sustainable and ethical food choices. with a diverse range of plant-based options available, the future of the plant-based food ingredients market looks promising in these countries.

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