Market opportunities unveiled for WA premium foods
About 200 Western Australian premium food and beverage stakeholders have attended a series of events throughout the state to discuss the key findings of the recently released Premium Agrifood Market Opportunity (PMO) report.
The report was launched by Agriculture and Food Minister Alannah MacTiernan at Whipper Snapper Distillery in East Perth on 6 July.
Commissioned by the department’s Food Industry Innovation project and produced by Coriolis Research, the report uses market-trend research to identify new and emerging premium food and beverage products that add value to WA’s abundant raw materials.
It highlights export market value of up to $4 billion with a focus on domestic and Asian export markets, and analyses the capacity for WA businesses to capture this potential.
The report provides a useful guide for government and industry to work together to create new opportunities for the state. Food and beverage value-added products are a major contributor to the Australian economy, providing about 250 000 jobs and generating $26 billion in export value. The industry has increased by 30 per cent in the past seven years.
While there is an emerging value-added food and beverage sector driving innovation in WA, it is small, diverse and could benefit from targeted development.
Stakeholders who attended the Perth launch were enthusiastic to hear which products made the shortlist of 20 high-growth, high-value opportunities for WA – narrowed down from more than 500.
The key product opportunities are wide-ranging from organic beef and specialty breads to baby food, cheeses, cider, oat milk and alternative dairy.
WA premium food and beverage businesses provided products for grazing tables at the launch, showcasing the high calibre and diversity of our existing value-add products.
Event host and chief distiller James McKeown shared the Whipper Snapper business story and highlighted exciting growth opportunities for craft whiskey distilleries in the state.
Following the Perth launch, the PMO report was also profiled at events in six regional centres including Geraldton, Carnarvon, Bunbury, Manjimup, Northam and Albany.
Producers heard about product opportunities relevant to their region and presentations on other department reports including the Asian Market Success Target Market Opportunities report and Pathways to Competitiveness report.
The PMO report will influence Food Industry Innovation priorities and ensure the project team focuses on market demand and delivering tangible commercial outcomes.
Within the report, gap assessments highlight improvement in marketing, awareness activities and sales capabilities as key focus areas for the growth of WA’s premium food and beverage businesses.
The project will provide identified WA premium food and beverage businesses seeking growth, with access to targeted resources, knowledge, skills, and information about domestic and international market opportunities.
WA premium food producers will be offered a range of tools and support services to address their business needs and gaps such as road mapping, competitor analysis, branding and marketing training, and links to in-market officers and case managers.
The project aims to develop the full potential of WA food and beverage businesses that are adding value to raw products, and generating jobs and growth for regional communities and the State’s economy.
A full digital copy of the report is available for download at: http://www.agric.wa.gov.au/pmoreport
For more information email: foodindustryinnovation@agric.wa.gov.au