Food & Beverages

Opportunities in Plant-Based Proteins

  • CAN376882
  • 80 Pages
  • April 2014
  • Food & Beverages
Summary
The application of sophisticated animal protein processing technologies has enabled ingredient manufacturers to generate innovative, cost-effective, and high quality unaltered plant protein ingredients. This report examines consumer demand for protein, analyzes the merits and possible opportunities for soy, pea, and rice protein ingredients, and assesses the future emerging ingredients.


Synopsis
- Assesses consumer attitudes to protein and identifies segments most likely to purchase plant protein containing products and why.

- Evaluates market drivers and their impact on soy, pea, rice, canola and wheat based proteins and other emerging ingredients.

- Identifies new market opportunities for alternative protein ingredients.

- Analyzes the trends in the alternative protein ingredient market.

- Identifies the key barriers to market entry and discusses the strategies companies have adopted to overcome such obstacles.

ReasonsToBuy
- Which consumers segments are most likely to purchase food and drink products rich in plant protein ingredients and why?

- What food and drink categories are the most appropriate to develop products enriched with plant protein ingredients and why?

- Which manufacturers are developing new plant ingredients and what unique market opportunities exist for these ingredients?

- What market trends have emerged over the last five years and where may future growth opportunities lie in the future?

- What are the key barriers to uptake and how can companies address these issues?

Key Highlights
According to our survey data, three quarters of people consume moderate or high amounts of protein. However, the demand for meat appears to be decreasing, with 41% of consumers globally choosing a diet that is low in meat and a further 13% eating a meat-free diet. Furthermore, over half of consumers aged 65-plus select a diet that is low in meat.

Consumers that take an active interest in their health and wellbeing and regularly purchase functional foods are extremely likely to consume high protein products. Over 85% of consumers that purchase functional foods and drink choose products that are high in protein as they perceive them to be 'good for you'.

The global market for ingredients derived from dairy proteins and plant proteins was estimated to be worth nearly $23bn in 2013, generated from the sale of 4.2 million metric tons of protein ingredients. By 2018, protein ingredient manufacturers are forecast to deliver over 5.5 million metric tons, generating global sales of nearly $31bn.
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