Raising the Pulse
The view to 2030 for Australian Pulses – Opportunities and Challenges –
‘Raising the Pulse’ is a perfect fit with Australian agriculture’s vision for a $100 billion industry by 2030. The comprehensive report, commissioned by Pulse Australia with GRDC support, provides a platform for the pulse industry to capture opportunities and address challenges to achieve that vision.
This summary provides a distillation of the key findings of the report. Pulses were novel to Australia’s cropping sector in the 1990s. After 30 years of development, enhanced by breeding and industry programs, pulse crops are now mainstream in Australia’s cropping rotations, providing a valuable and sustainable source of protein, as well as holding an enviable reputation for quality in global markets. The commodity supply and demand scenario for pulse crops to 2030 looks healthy, albeit with some volatility.
Globally, consumer attitudes to diet, what they contain and where the ingredients come from is changing rapidly. The consumer interest in healthier plant protein-rich diets is fast-evolving, as evidenced by growth in high-profile meat-substitutes and the flow of investor capital.Is the emerging food ingredient market a durable trend that delivers significant new markets for Australian pulse producers?
‘Raising the Pulse’ seeks to balance the opportunities across the spectrum of pulse crop usage – from the staple food commodity pulses, through to high-value ingredients and isolates, as well as growth opportunities in the animal and petfood sectors.This report examines the macro drivers of the global food industry over the next decade to determine whether increasing demand for plant-based protein is a fixture rather than a fad.
This summary of the findings sheds light on the kind of opportunities and challenges that are emerging while assessing the current positioning of the Australian industry to prosper in the future. The report has been greatly enhanced by contributions from stakeholders across the value chain who shared their insights and experience to ensure the findings of this review were of the greatest value to the industry.
On behalf of Pulse Australia, I thank all of the industry participants who were generous with their time and expertise in making a significant contribution to the report. Importantly, ‘Raising the Pulse’ highlights the areas in which the industry can collaborate and intelligently invest. It provides a yardstick for the GRDC and pulse value chain participants to jointly grow the value of pulses, and ultimately for Australian pulse producers to capitalise on future market opportunities as well as mitigate risks.
Ron Storey
Chairman, Pulse Australia
Key findings:
- Megatrends driving global food markets are likely to favour increased consumption of plant-based protein.
- Pulses have a significant role to play in the rapidly evolving food markets demanding more plant protein.
- Existing markets, in particular the sub-continent, will remain the backbone of the global pulse trade, while China and Africa will emerge to become even larger consumers.
- Animal protein production is likely to intensify and requires sustainable sources of feed, and plant protein, including pulses, will be a focus of most rations.
- Australian pulses have earned a strong position due to the breeding and supply chain focus on clean, quality grain with desired visual characteristics.