Regional NSW offers “ideal combination” of advantages for plant-based food and beverage manufacturing, says state government 

The NSW government is courting plant-based protein companies, encouraging them to consider establishing regional factories in the state via a new prospectus at the AltProteins 25 conference. 

According to a statement from regional NSW minister Tara Moriarty and others on Tuesday, regional NSW – five key regions are “particularly suited to plant-based protein manufacturing” – has competitive advantages including:

• Access to necessary premium raw commodities, with a $20 billion agricultural sector producing commodities including wheat, canola and legumes;
• The ability to deliver goods to 81 per cent of Australia’s domestic market overnight;
• The necessary skilled workforce and land; and
• An R&D ecosystem encouraging R&D collaboration across universities and federal/state departments and agencies.

“Regional NSW offers the ideal combination of resources and advantages, from efficient transport networks and export-ready ports to skilled workforces and affordable industrial land, creating a compelling case for investors and manufacturers,” said Moriarty.

“This prospectus is about building on those strengths to grow jobs, drive innovation and ensure NSW captures its share of a rapidly expanding global market for healthy, sustainable food.”

The five “key regions” suited to such manufacturing are named as the Riverina Murray, New England North West, Central West Orana, North Coast and Hunter Central Coast.

Sarah Furney, the CEO of Dubbo-based Ben Furney Flour Mills, added: “With immediate access to grain supply, skilled labour and transport infrastructure, it’s benefits like these that make regional NSW an ideal base for advanced food manufacturing and allow businesses like ours to compete in a growing market.”

As evidence of growing demand, the report cites predicted revenues from the soy and almond milk sector growing at 5.5 per cent (compound annual growth rate, or CAGR) to 2028 and the health snack foods sector expected to grow at 3.1 per cent (CAGR) to 2030.

The prospectus was developed by the NSW Department of Primary Industries and Regional Development in partnership with Investment NSW and is available here.

Picture: gluten-based chicken skewers served at Harvest B event (credit @AuManufacturing)

Further reading

Plant-based meat and dairy product consumption up 14 per cent in 2020/21: ABS

Vitasoy to invest another $40 m, hire up to 40 as plant-based demand grows

Plant-based patties, lab-grown meat and insects: how the protein industry is innovating to meet demand

v2food buys up US company Daring Foods for undisclosed amount

UQ-led Trailblazer develops texture toolkit for food and beverage R&D

Breakthrough Victoria invests $2 million in Harvest B