Summary

The aim of the project is to identify the Australian agriculture sub-sectors most relevant to high-impact bioactive market opportunities and develop a structured approach for assessing the commercial validity of identified opportunities.

There is significant opportunity to unlock a new revenue stream for Australian agriculture by targeting the nutraceutical industry. Australia’s consumption of nutraceuticals is valued at $5.5 billion and growing (CSIRO, 2018). Approximately 90% of ingredients for these products are imported. To date, very little work has been done on what the opportunities are.

There are several questions that need to be answered to assess the potential for Australian agriculture to diversify into the bioactive ingredient market. The intention is to build the understanding of the opportunities and information to help Australian agriculture identify and diversify into new markets to create new revenue opportunities, through the development of novel, value-add and/or import replacement products.

Program

New Enterprises

Research Organisation

Commonwealth Scientific and Industrial Research Organisation (CSIRO)