Global demand for meat alternatives is rising as health and sustainability concerns push more consumers towards meat reduction. This report examines how the use of fermentation can push the boundaries of innovation, offering numerous opportunities in improving the profile of meat alternatives. It also considers the challenges that the industry is facing and highlights the factors that can accelerate the democratisation of fermentation-derived alternatives.
This report comes in PPT.
Despite a dramatic sales slowdown, the US remains by far the biggest market for meat and seafood substitutes due to the sheer number of brands and products available. The products are also more widely available in grocery retail outlets as well as large foodservice chains such as Burger King. Despite the regulatory restrictions, the country is more open to newer methods of producing meat alternatives.
Demand for meat alternatives is highly driven by meat reducers or flexitarians and to a lesser extent by the growing but still niche number of vegans or vegetarians. While taste remains a crucial factor that has been discouraging purchases; to improve the profile of meat alternatives, fermentation is currently gaining attention as a method that can better replicate the mouthfeel of meat substitutes.
Health and environmental concerns are among the biggest drivers behind consumption of meat alternatives. Fermentation-derived meat alternatives have the potential to address these concerns as manufacturers claim that they are less processed, carry a shorter ingredients list and require less environmental resources such as arable land to be produced than other products in this space.
While there is great potential for meat alternatives made from fermentation, there are still challenges to be overcome. These include high unit prices, limited manufacturing capacity and lack of scalability; as well as the fact that the majority of players within this space remain at pilot stage. Regulatory restrictions need to be overcome to ensure global expansion and widespread availability.
Meat alternatives made through fermentation can achieve strong growth if market conditions are favourable. B2B partnerships and public funding can also play a crucial role in scaling up the production of fermentation products as their growth potential is revealed. By region, China offers great potential for growth as the country struggles to feed its growing population without relying heavily on imports.
NOTE: Couscous, polenta and quinoa are excluded from staple foods.
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