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Alternative proteins products that are direct substitutes for
animal-based protein (meat & dairy) are valued at US$29.4
billion from primary markets in North America, Europe, and
Asia.
The demand for alternative protein is permanent and is expected
to continue growing - the market data collected translates to 11
million tons of global consumption of plant-based meat by 2030.
The currently popular and growing plant-based food categories
are plant-based dairy and meat at 10-15% and 1- 2% of total global
protein markets, respectively.
An increasing number of flexitarians, a niche demographic that
substitutes meat products for plant-based on certain days for
health or environmental reasons.
New consumer trials in plant-based products in the past few
years.
Growth in sales driven by smart retail strategies such as
product placement with animal-based meats, proper signage, and
merchandising strategies.
Market externalities such as income levels drives the growth as
they remain at premium prices.
Environmental awareness is causing shifts in consumer behavior
and consequently the demand for products with lower carbon
emissions such as plant-based meat is increasing.
Current market disruptions such as COVID-19 impacted the
animal-based meat supply chain, causing shortages. Due to this, a
higher growth in plant-based sales is noted.
Investment strategies by key players in the market through
fundraising, partnerships, acquisitions or introducing their own
product line. The key players vary from food and agricultural
companies to non-profit organizations and financial institutions
looking for climate-friendly investments.
Partnerships between plant-based protein companies such as
Beyond Meat and Impossible Foods with large food retailors is
driving up the reach to mass audience and driving up the
supply
Are you considering the investment potential in the alternative
protein supply chain?
Don't miss our new Agribusiness special report: The future of
alternative proteins: Implications for the meat industry and
farmland.
Read the summary of our new special report here and learn the
answers to the following questions:
What is the market outlook?
Who is already investing?
Where can you invest?
What is outlook on plant-based meat market and future
scenarios?
outlook on cell-based meat
How will increase in alternative protein affect land-use
change?
What is outlook for substitution of crops?
Are alternative proteins a solution to reduce deforestation?
Posted 02 March 2022 by Nick Edwards, Director of Research and Analysis, Food and Agricultural Commodities
This article was published by S&P Global Commodity Insights and not by S&P Global Ratings, which is a separately managed division of S&P Global.
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