Asia's middle class want the Aussie brand

Asia's growing middle class key to rural Australian economies

Agribusiness
Assoc Professor Ben Lyons, director, Rural Economies Centre of Excellence, University of Southern Queensland.

Assoc Professor Ben Lyons, director, Rural Economies Centre of Excellence, University of Southern Queensland.

Aa

Prof Lyons said Australia is still looking for it's 'champagne story', and flagged that the red meat sector seems to be the first at the door for creating an internationally recognised premium product.

Aa

If there's one theme of the century for regional Australia, it is the Asian middle class, so says Associate Professor Ben Lyons for Rural Economies at the University of Southern Queensland.

Research done by the Brooking Institution says there is currently an estimated 2 billion Asians a part of the the middle class and that number is set to increase to a massive 3.5 billion by 2030.

Prof Lyons said 'Brand Australia' is incredibly desirable to the Asian consumer.

"The connection of Australia's high quality product is very strong to Asia's premium restaurant markets," he said.

"The Australian brand is probably about 80 per cent of the story to the consumer and as the Asian market evolves to appreciate more sustainable practices you will see products grow off their own branding."

ALSO IN NEWS:

Prof Lyons said Australia is still looking for it's 'champagne story', and flagged that the red meat sector seems to be the first at the door for creating an internationally recognised premium product.

"We are still looking for our champagne story in Australia, we have our sparkling wine, we just haven't gotten to that point of being considered champagne," he said.

IN OTHER NEWS:

"Red meat is leading the pack with their Brand Australia marketing. We're seeing rural products go up 11pc month to month, year on year."

COVID-19 has ended the jet-setting behaviour of most exporting ventures, with meetings with potential foreign retailers often taking place over Zoom. Prof Lyons said this presents a new challenge for the exporters.

"All trade relations are relationships, and good relations are usually made from person to person," Prof Lyons said.

"Building relationships in an environment with no travel is going to be a challenge for all businesses. It's great that we in Australia have a mature network that work with Trade and Invest Queensland to introduce them into key markets.

"Ultimately for businesses however, they will still need to foster strong relationships."

Prof Lyons said that more than any other export, the rising Asian middle class will need food.

"The Asian middle-class presents a big opportunity for value adding to our regional and rural economies. There is a question on how long will iron ore and coal will prop up our exports markets."

Love agricultural news? Sign up for The Land's free daily newsletter.

The story Asia's middle class want the Aussie brand first appeared on Queensland Country Life.

Aa

From the front page

Sponsored by