Key Takeaways
- The global alternative protein market is projected to reach $15.7 billion by 2024, growing at a 9.9% annual rate.
- Manufacturers are leveraging advanced technologies to enhance product quality and reduce production costs.
- Innovative new products are diversifying the alternative protein landscape, appealing to broader consumer tastes.
Alternative proteins continue to gain traction as the market evolves with significant technological advancements and innovative product launches. The global alternative protein market, encompassing plant-based products, cellular agriculture, and precision fermentation, is projected to reach $15.7 billion by 2024, experiencing a robust compound annual growth rate of 9.9%, and it’s expected to exceed $25 billion by 2029, according to Markets and Markets.
With a growing demand for alternative protein products, manufacturers are now integrating cutting-edge technologies to enhance nutrition, improve flavor profiles, and lower production costs to compete with traditional protein sources. Rebellyous Foods has introduced its Mock 2 Production System, an automated processing system designed to reduce manufacturing costs while significantly increasing output capacity. This system can produce plant-based meat products at rates of 2,500 to 5,000 lb/h. CEO Christie Lagally emphasizes that this technology aims to meet the rising demand for affordable, high-quality plant-based options.
Similarly, companies like Demolish Foods are innovating with technologies that reproduce the texture and nutritional profiles of traditional meats. Their Gen3 platform focuses on creating plant-based and cultivated meat hybrids that replicate the chewiness and juiciness of animal products. Believer Meats is also expanding its capabilities, partnering with GEA to develop processes that enhance the sustainability and production yield of cultivated meat. Believer is constructing a new facility in North Carolina expected to produce 12,000 metric tons of cultivated chicken annually by 2025.
In the realm of 3D printing, Steakholder Foods is furthering its advancements with two new printers—MX200 and HD144—designed to create realistic textures for plant-based meats and seafood. The company has opened a demonstration center to showcase these technologies, enhancing their ability to deliver customized meat alternatives.
Beyond innovations in production, new product launches are gaining attention. Beyond Meat has revamped its product lines to improve nutrition by switching to avocado oil and adding plant-based protein sources. Kraft Heinz introduced plant-based meat options under its Oscar Mayer brand, while Juicy Marbles launched Baby Ribs featuring edible and compostable plant protein “bones.”
Daring Foods has also tapped into consumer preferences by incorporating traditional dairy into their new vegetarian frozen entrees, aiming to appeal to flexitarian customers. Meanwhile, Nestlé launched a plant-based meat alternative in Chile, designed to provide an affordable protein source while maintaining familiar tastes.
Lastly, startups like BettaF!sh are innovating within the seafood space, introducing products such as their plant-based hot-smoked salmon alternative, made from seaweed and fava bean proteins, emphasizing health benefits and sustainability.
These developments within the alternative protein sector reflect an industry that is not only growing but also becoming more sophisticated, targeting a wider audience with enhanced products that prioritize both innovation and nutrition. As traditional animal protein sources face increasing scrutiny, the future looks promising for alternatives, with advancements aimed at taste, sustainability, and consumer health at the forefront.
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