BUSINESS STRATEGY million in 2019 . Most of the market share will go to bars , other snacks , specialty food ingredients and pasta . The market share represented by whole insects will sit at around 25 %.
Ali Al Suhail , Associate at DAI Magister
While start-ups creating insects for food have been around for some time , we are seeing a new wave of start-ups focused on using insects to create animal feed following the US $ 250 million raise by InnovaFeed and US $ 175 million raise by Ynsect .
Mycoprotein
Mycoprotein is derived from fungi and produced via three primary fermentation processes – traditional , biomass and precision . It is commonly used in various food products as a meat substitute and is known for its high protein content and meat-like texture .
Due to the rising demand for plant-based foods , the market for Mycoprotein is experiencing rapid growth . Mycoprotein production has also become more efficient and cost-effective in recent years , enabling companies to scale up production to meet rising demand . The market for precision fermentation alone is forecast to grow from US $ 1.6 billion in 2022 to US $ 36 billion in 2030 .
Lab-grown meat
The market for lab-grown meat is experiencing rapid growth and holds the potential to revolutionise the global food system while making a significant environmental impact . Traditional animal agriculture , a leading cause of greenhouse gas emissions and land degradation , stands to be transformed by this emerging industry .
Prominent companies in the US , Israel and the Netherlands are currently focused on establishing large-scale farms equipped with multiple bioreactors to enhance production scale . They are working to overcome technical hurdles in scaling production , reducing costs and addressing regulatory frameworks and public acceptance , but there is a significant way to go . Investors will need to pony up substantial capital in the range of hundreds of billions to facilitate a successful industry scale-up .
Alternative proteins can forge the path to sustainability
The global food system is a major contributor to climate change , accounting for 34 % of global greenhouse gas emissions . This presents a pressing issue that demands mitigation efforts , especially considering the projected increase in meat demand by 50 %– 100 % between now and 2050 . Such an escalation would lead to 5 – 10 gigatons of CO 2
-equivalent per year of emissions from livestock and related activities alone .
By reducing the reliance on traditional livestock farming , these alternatives can significantly decrease greenhouse gas emissions , minimise land and water usage and mitigate the detrimental impacts of the current global food system on climate change and the environment . Moreover , they offer a viable solution to meet the growing demand for protein as the world ’ s population continues to increase .
Despite these promising advancements , we are still in the early stages of exploring and implementing these alternatives . Transitioning to an alternative protein system will require substantially more funding and financing to support research , development and large-scale implementation and deeper collaboration and coordination among governments , industries and scientific communities worldwide . x www . intelligentcxo . com
27