BUSINESS STRATEGY
prospects , Nadim El Khazen , Partner at PeakBridge VC , said : “ Large food players use M & A [ mergers and acquisitions ] as a key to innovation within the space , averaging lower R & D [ research and development ] spend than other industries .”
Dissecting the alternative protein market
The alternative protein market can be segmented into four sectors – each representing different approaches and avenues within the broader alternative protein landscape and offering unique opportunities and challenges .
Plant-based proteins
Beyond Meat and Impossible Foods are the two most prominent players in the plant-based protein segment . Beyond Meat , in particular , has been a pioneer in the field and played an instrumental role in raising public awareness about plant-based meat and the impact of the US $ 1 trillion meat industry .
While these leading players and others have made significant technological advancements and demand continues to rise in the US and other western markets , resistance to plant-based proteins persist in countries where plant-rich diets are prevalent and meat consumption is considered a status symbol .
There are also sustainability and affordability concerns around certain plant-based proteins .
One example is the water-intensive nature of almond farming for milk alternatives . Plant-based alternatives presently carry a higher price tag than traditional animal products . For example , plant-based meat is priced at twice the cost of beef , more than three times pork and over four times the cost of chicken per pound .
Insect-based proteins
Insect-based proteins are a sustainable , nutritious protein source that can be used in various food products such as protein bars , snacks and even burgers . They are packed with essential amino acids , healthy fats and vitamins and currently supplement the diets of approximately 2 billion people across Asia , Africa and Latin America .
In the EU and other western markets , the situation is somewhat different . Cultural barriers and regulatory and safety concerns have slowed the adoption of insect-based foods . Nevertheless , insect farming in Europe is experiencing significant growth as an industry , with the production of insect-based products expected to reach 260,000 tonnes by 2030 , a substantial increase from the current level of just a few thousand tonnes .
Furthermore , there is a projected surge in demand for such products in the upcoming years . By 2030 , the consumption of insects and their derived products by Europeans will reach 390 million , a remarkable rise from an estimated 9
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