The emerging plant-based food sector in South Australia will get a $2 million boost from the state government to establish a plant-based food incubator laboratory in Adelaide.
It is anticipated a fully established plant-based food sector in South Australia has the potential to deliver $2 billion in revenue, over $240 million in commercial investment, 1,500 jobs and a $500 million lift in Gross State Product by 2030.
The incubator will be established at the Waite Research Precinct over the next 12 months and will boost research capabilities supporting this rapidly emerging food industry.
Minister for Primary Industries and Regional Development David Basham said supporting the development of a plant-based food sector will help maximise the value of South Australia’s plant, pulse and cereal production.
"The plant-based food sector is rapidly emerging in Australia, and we believe South Australia could become a national leader, attracting investment to potentially create thousands of new jobs,” Minister Basham said.
"South Australia’s grains industry is a world leader, and we are well-placed to take advantage of this demand as the producer of some of the best plant-based protein sources.
"Already we produce 75 per cent of Australia’s lentils, 30 per cent of fava beans and almost 40 per cent of field peas, along with a well-established strong cropping sector.
"In South Australia we comfortably produce more than we consume, but up until now these goods have been generally traded as bulk commodities.
"Manufacturing plant-based food products here has the potential to add further value to our local grains industry and grow total demand for South Australian foods here and overseas.
"Our $2 million investment in a plant-based food incubator at Waite Research Precinct will help fast-track development of this emerging sector and explore opportunities to grow our agriculture industry and create jobs."
Minister for Trade and Investment Stephen Patterson said the incubator would help boost international investment in South Australia.
"In recent years, consumers have increasingly embraced plant-based foods, a demand that has been driven by a combination of global protein supply and consumers changing personal preferences," Minister Patterson said
"Enhancing the research capability into the plant-based foods will help to attract further investment and increase the potential of additional value-adding, food manufacturing and export opportunities.
"While growing consumer demand provides an opportunity to develop this food sector in South Australia, constraints and challenges exist in establishing successful plant-based ingredient and food enterprises.
"The aim of the incubator with its new food technology infrastructure is to enable experimental and pilot trials to occur, in liaison with industry, to help identify solutions to some of these issues.
"This direct collaboration between research and development capability, and industry and manufacturing through the incubator is expected provide the building blocks for this emerging food sector."
"This emerging sector complements our existing food industries, building on our reputation as the state for quality food and beverages across the red meat, dairy, grains, seafood and wine sectors."
Sourced from the Department of Primary Industries and Regions website: $2 million investment to grow SA plant-based food sector