HEALTHY and sustainable lifestyles could be worth about A$25 billion (£13.6 billion) and make up about 10 per cent of the value of Australia’s food and agribusiness sector by the end of next decade.
The government’s Commonwealth Scientific and Industrial Research Organisation says the high rate of growth in demand for healthy and sustainable products could make the food and agribusiness sector more valuable than mining.
The sector now contributes about 7.6 per cent of GDP, compared with eight per cent from mining.
Domestic demand will make up about A$15 billion (£8.1 billion), while exports of A$10 billion (£5.4 billion) will be underpinned by rising demand throughout Asia.
The CSIRO report examines four high-growth opportunities:
n Fortified and functional foods, which contain added ingredients intended to aid health;
n Free-from and natural products, including gluten-free and certified organic vitamins and supplements;
n Personalised nutrition.
In sustainable solutions, the report identifies three growth areas – alternative protein sources, any food eaten as an alternative to meat and seafood; organic waste conversion, generating useful products from waste; sustainable packaging, such as bioplastics and biodegradable packaging.