The CRC for Developing Northern Australia believes the Kakadu plum industry is poised to take advantage of the $US130 billion functional foods market.
In Darwin today, the CRC helped to launch a three-year, $2.7 million project for Kakadu plum research, which brings together researchers and industry from across the north.
University of Queensland’s Associate Professor Yasmina Sultanbawa said the Kakadu plum industry offered significant opportunity for growth.
“Demand and growth for Kakadu plum products here and overseas is expected to be around 10 per cent annually, with significant opportunities emerging in the nutraceutical, supplement and pharmaceutical industries,” she said.
“So looking at how we can improve the value chain to better capture these new markets will be a key focus of this research.”