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Alternative proteins on the rise, suggests report


February 25, 2015
By Canadian Pizza

Feb. 25, 2015, Boston, MA – Growth of alternative
protein sources is poised to claim up to a
third of the protein market by 2054, profoundly affecting agriculture,
food technology, and end products, according to Lux Research.

Feb. 25, 2015, Boston, MA – Growth of alternative
protein sources is poised to claim up to a
third of the protein market by 2054, profoundly affecting agriculture,
food technology, and end products, according to Lux Research.

Global protein consumption will reach 943 million metric tons (MMT) by 2054, rising at a 1.7 per cent CAGR from the current 473 MMT, suggests a report entitled "WhooPea: Plant Sources Are Changing the Protein Landscape."
Alternative protein sources will pick up the slack of slowing meat and
seafood growth, and could claim as much as 33 per cent of total protein
consumption by 2054.

"Novel protein sources beyond meat and fish are finding
opportunities for growth within the once static protein industry," said
Camilla Stice, Lux Research analyst and the lead author of the report, in a news release.

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"Consumer preference, concerns over the planet's ability to
produce sufficient meat, impact of livestock agriculture on the
environment, and mounting scientific advances are driving the changing
protein demand," Stice said.

Lux Research analysts studied the factors affecting supply
and demand of protein for human consumption, and evaluated several
current and emerging alternative protein sources. Among their findings:

  • Soy will dominate the alternative protein space over the next 10 years. Consumption
    of soy, the first-generation alternative protein, has risen at a CAGR
    of 5.1%, versus 2.5% and 1.6% for meat and seafood, respectively, over
    the past decade. Soy consumption will continue to rise strongly over the
    next decade, reaching 31 MMT and capturing more than 80% of the
    alternative protein market by 2024.

  • Nascent alternative protein sources will gain market share in the coming decades. Looking
    beyond the coming 10 years, the alternative protein market will
    diversify significantly as novel protein sources come to market.

  • Approximately 430 million hectares of cropland
    worldwide will be used to grow the crops that will feed this growing
    protein demand by 2024. This will constitute nearly 100 million
    additional hectares of protein crops growing worldwide. Rice and canola
    will be the fastest growing protein crops in terms of acreage planted.

"WhooPea: Plant Sources Are Changing the Protein Landscape" is part of the Lux Research Food and Nutrition Intelligence and Agro Innovation Intelligence services.