Alternative Proteins: Market Research on Consumer Trends and Emerging Landscape

Abstract

Meat and poultry consumption is set for global growth with increased demand. However, today’s market trends demonstrate that new consumers are interested in alternative proteins (i.e., non–animal-derived/plant proteins). In the past few years, this interest has been growing and has resulted in the revamp of “alternative protein” segments and new product launches that can compete with or complement traditional meat products. The market trends also strongly support a continued demand for meat and poultry consumption as the alternative protein segment possesses less than 4% of the total global protein share. At the same time, the accelerated growth (with Compound Annual Growth Rate 2–3 times greater than that for meat and poultry, globally) and market penetration of alternative proteins, coupled with consumer interests fueled by the “flexitarians,” present an opportunity to review the current situation, global trends, and consumer research and to evaluate the potential and gaps for the meat and poultry industry. Furthermore, the technological aspects of utilizing alternative proteins (non–animal-derived) also presents an opportunity to create new experiences for a customer familiar with meat/meat product consumption. The present International Congress of Meat Science and Technology proceedings paper, therefore, offers a short glance into the market landscape of alternative proteins, as we stride to a common goal of feeding 2 billion more people by 2050.