Fungi-based foods surge in Australia amidst sustainability demand

This positions the country to lead in the growing market for sustainable eating.

Australia is seeing a significant rise in fungi-based food products, spurred by the growing demand for sustainable, plant-based, and alternative protein sources, according to GlobalData.

This surge reflects broader consumer trends, with people increasingly opting for plant-based diets due to concerns about sustainability, climate change, and animal welfare, it added.

Fungi-based products offer substantial nutritional benefits, including proteins, fibre, and vitamins, whilst having a smaller environmental footprint compared to animal-based foods, noted Kakarlapudi Karthik Varma, a consumer analyst at GlobalData.

Fungi's versatility enables a wide range of innovations, from meat alternatives to dairy-free products, which are rapidly gaining market share in Australia.

One notable development is the collaboration between Kinoko Tech and Metaphor Foods, which has introduced a line of fungi-based products that serve as sustainable meat substitutes. Kinoko Tech's fermentation technology, which cultivates mycelium to closely replicate the texture and taste of meat, uses fewer resources such as land, water, and energy than traditional livestock farming.

"As the demand for sustainable food options rises, fungi-based products are poised to address the needs of health-conscious and environmentally conscious consumers," Varma said. 

Ongoing investments and innovations in this sector position Australia to lead in the growing market for sustainable eating, with fungi-based foods expected to play a key role in addressing global protein needs whilst mitigating environmental impact.