The Australian. vegan food market is valued at approximately AUD 640 million as of 2023. The market is projected to grow significantly, with a compound annual growth rate (CAGR) of 8%, through 2032.
Our figures are based on analysis from four different market research reports. As the figures across the four reports are all quite similar, we are reasonably confident in our estimate of the market size and growth rates. A detailed description of our analysis methods are below
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Market Size and Growth Trends
Australia has seen a significant increase in its vegan population, with various reports estimating that 2.5 million people, or 6% of the population, now identify as vegan.
Growth Trend: The vegan market is expanding at an impressive rate, with an overall growth trend of around 8%.
Forecast for 2032:
By 2032, the vegan population is expected to surpass 11 of the Australian. population, indicating continuous upward trends as plant-based lifestyles become more popular and accessible.
This rise reflects a deeper cultural shift, where more people are reconsidering the ethical and environmental impact of their food choices.
Vegan Food Statistics Overall
Total market value: In 2023, the vegan food market is valued at approximately AUD 640 million, showing a clear upward trend. Australian vegan food market is expected to continue growing at a compound annual growth rate (CAGR) of 8%.
The vegan food market is rapidly evolving, with plant-based options increasingly becoming more available and varied. Here’s a breakdown of key sectors:
- Increasing consumer demand for plant-based meat alternatives: The plant-based meat market in Australia grew by 46% in 2021, significantly outpacing the global average.
- Rising popularity of vegan fast food: The Australian vegan fast food market was valued at approximately AUD 250 million in 2023 and is projected to reach AUD 480 million by 2032, growing at a CAGR of 7.5%.
- Expansion of vegan product offerings by major food companies: Large food manufacturers are launching new vegan products to cater to the growing demand.
- Increasing number of vegan-friendly restaurants and cafes: Australia has seen a surge in plant-based eateries in recent years.
Distribution Channels
- Online: E-commerce plays a pivotal role in the vegan food market, especially for niche and specialty products that may not be readily available in physical stores.
- On-Site (In-store): Brick-and-mortar stores continue to grow their vegan offerings, with dedicated vegan sections appearing in major supermarkets across the country.
Vegan Restaurant Industry Statistics and Trends
Australia has embraced veganism in its dining culture, with vegan-friendly restaurants and cafes booming. As per HappyCow, Australia boasts over 10,458 vegan or vegan-friendly restaurants, showing the nation’s increasing appetite for plant-based meals.
Vegan Takeaways Skyrocket
The pandemic has accelerated the growth of vegan takeaway and food delivery options. According to Credence Research, the vegan fast-food market alone is projected to be valued at AUD 250.63 million by 2032. This growth can be attributed to changing consumer behaviors and the rise of food delivery apps.
Consumer Insights
The rise of veganism in Australia is driven by a mix of health, environmental, and ethical concerns. Here’s what the data reveals:
Health as a Primary Driver
Many Australians are turning to veganism for its perceived health benefits. Plant-based diets are often associated with improved heart health, lower cholesterol levels, and better weight management.
Environmental and Ethical Concerns
Environmental sustainability and animal welfare are key motivators for many vegans. With increasing awareness of the environmental impact of animal agriculture, more Australians are making the switch to plant-based diets to reduce their carbon footprint and promote cruelty-free living.
Growth of Flexitarianism
Not all consumers are fully vegan, but a growing number are embracing flexitarianism—a diet that is mostly plant-based with occasional meat consumption. This trend reflects the rising consciousness about health and the environment, even among non-vegans.
Regional and Socioeconomic Variables
While veganism is growing across the country, certain trends vary by region and socioeconomic factors:
- Urban vs. Rural Areas: Veganism is more prevalent in urban areas, where there is greater access to vegan products and restaurants. Cities like Sydney and Melbourne lead the way in vegan-friendly offerings.
- Socioeconomic Factors: Higher income groups are more likely to adopt vegan diets, as vegan products can sometimes come at a premium. Additionally, food deserts—areas with limited access to fresh and affordable food—pose challenges for lower-income individuals trying to access vegan options.
Challenges and Criticisms of Veganism
Despite its growth, veganism faces challenges:
- Higher Costs: Vegan products can be more expensive than their animal-based counterparts, making them less accessible to some consumers.
- Nutritional Concerns: Some critics argue that a vegan diet may lack essential nutrients, though this can often be mitigated with careful planning and supplementation.
Conclusion
Veganism in Australia is on a rapid upward trajectory. With millions of Australians embracing plant-based living, and the market projected to hit AUD 1.33 billion by 2032, the future of veganism looks bright. The health, environmental, and ethical drivers behind this growth make it a powerful movement, though challenges like cost and accessibility must still be addressed.
References and Data Sources
To gain a complete understanding of the global vegan market in Australua we’ve analyzed data from different market research reports. Our top picks are below.
| Australia Market | Statista | Expert Market Research | Food Frontier | Credence Research | Overall |
| Market Size (how many vegans) |
780,000 -3 % of population | 2.5millions – 6% of populaition | 2.5millions – 6% of populaition | 2.5millions – 6% of populaition | 2.5millions – 6% of populaition |
| Growth Trend | 7.70% | 7.70% | 14% | 7.50% | 8.00% |
| Marker Size Forecast 2032 | AUD 1.25 billion | AUD 1.33 billion | AUD 1.44 billions | AUD 480.53 million- only fast food | AUD 1.33 billions |
| Vegan Food Market Size | AUD 640.88 million in 2023. | AUD 679.86 million | AUD 427.83 million | AUD 250.63 millio-only fast food | AUD 640 million |
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Vegan Restaurants in Australia
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10,458 as per Happy Cow |
Understanding the market’s direction can be challenging based on these estimates. However, we are reasonably confident in our projections. We encourage you to critically assess the data and consider various perspectives to form your own insights into the future of the vegan market in Australia
Nathan has always been captivated by numbers and patterns. With a Master’s degree in Statistics, he’s honed his skills to decipher complex data sets and discern market trends.
Over the past decade, Nathan has worked with various firms compiling and analyzing industry spending figures to forecast market movements.