According to a recent report by ResearchAndMarkets.com, the global market for Protein Alternatives is projected to reach US$4.7 billion by the year 2027, trailing a post COVID-19 CAGR of 8% over the analysis period 2020 through 2027.
Non-animal based sources of protein are environmentally sustainable as compared to crop and animal based sources. By the year 2050, approximately 75% more food will be required to feed the population thereby exerting huge pressure on food production systems.
By 2050, it is estimated that the agriculture industry, crops & livestock farming will be faced with the challenge of producing 974 more calories per person per day. In comparison arable land is expected to decrease. As population continues to grow and availability of arable land declines, demand for alternative protein sources is poised to witness robust growth.
Loss of arable land
Over the last 40 years, the world has lost a 1/3rd of arable land due to soil erosion, land pollution and destruction and conversion of land for other purposes, such as highways, housing and factories. Future potential for cropland expansion remains fairly limited.
Growing from the present baseline by 30% over the period 2010-2050, the global population is poised to reach 10 billion by the year 2050, with Africa contributing to half of the population growth for the period.
Per capita consumption of food will also increase at the back of the growing base of affluent middle class population and a parallel increase in appetite for high quality, nutritious food. To meet this food challenge with current day agricultural technology and practices will mean a devastating impact on the environment in the form of carbon emissions.
Living with the virus
Also expected to benefit the market are studies linking faster Covid-19 recoveries with higher protein intake. Given that social distancing measures cannot continue forever to restrict disease transmission, living with the virus until a vaccine arrives is the harsh reality that faces mankind today.
With no clear and effective treatment for the infection available despite accelerated global efforts to develop medical defenses against the virus, people the world over are turning to food, nutrition, exercise and physical well-being to tide over this unprecedented public health crisis.
With medicines failing to provide help, lifestyle habits and food are the only options left to strengthen the immune system to fight the virus. Adequate intake of micronutrients like vitamins, minerals, sodium, amino acids are necessary to boost innate and adaptive immunity and ability to fight viral infections.
Improve Immune health
Health foods which were growing in demand even before the pandemic is therefore witnessing significantly higher growth now. High protein & fibre rich foods are prime among the healthy foods popularised to improve immune health. Protein helps boost the body’s immune system and replaces damaged body tissues and strengthens muscles.
Covid-care hospitals are increasingly providing protein and calorie rich food for in-patients recovering from the infection. The growing number of infections and the rise in the number of recoveries therefore bodes well for protein consumption.
With over 5,264,190 people recovered and convalescing and with active cases standing at 3,973,840, the demand potential is immense.
Plant-based proteins
Healthy people are also increasing their protein and calorie intakes. Plant based protein supplements are especially witnessing strong demand gains supported by the growing focus on plant proteins among the growing number of self-defined adult vegetarians.
The scenario is driving up demand for protein ingredients especially use of soy protein ingredients in dairy replacement, infant foods and meat alternatives. Protein hydrolysates are also emerging as a special nutritional ingredient for the aging population given this demographic cluster’s high risk in acquiring the infection.
