The year 2023 saw dramatic changes in the alternative food space, including a drop in sales in the United States, the release of novel protein sources, and factory closures in the United Kingdom. Sources suggest that protein consumption will double in 40 years, and the alternative protein market will grow at a 9% annual rate. However, according to a GFI report, consumers retreated after trying plant-based products due to unmet taste and texture expectations, as well as cost considerations.
Many companies, including Schouten – Specialist in Plant-Based Protein, Butter Buds, Cargill, Belcolade, Sensus America, Motif FoodWorks, and others, use various products and ingredients to match the taste of various alt-products with their animal counterparts. There has been a lot of buzz in the news regarding facility expansion and the announcement of new production facilities, such as Umami Bioworks and Cell AgriTech, so there is definite movement on these lines.
Many advancements have been made to improve the current versions of available products across the entire alt-food space. Mewery debuted its first-of-its-kind pork-microalgae burger earlier this year, made from a blend of cultivated pork and microalgae cells. UNLIMEAT goes above and beyond to improve its process by using upcycled ingredients, such as grains, that would otherwise go to waste. The product contains soy protein, wheat fiber, oat fiber, sunflower oil, fermented vinegar, cacao powder, and DHA, making it a viable alternative to traditional tuna.
There were a few interesting inventions when it came to new protein launches. Grassa | Unlocking The Full Potential Of Grass proposed a unique preposition of using grass to extract protein and other nutrients before feeding it to the cows. Grass yields 2.5 times as much protein per hectare as soy, making it an excellent meat alternative and novel protein source. Another new protein, extracted from cabbage leaves and whole cabbage, was discovered earlier this year. Naylor Nutrition unveiled a novel protein source derived from cabbage that can be used in meat substitutes, nutritional drinks, and ready-to-eat meals. Vertical Future, based in the United Kingdom, announced the creation of Vertical Indoor Protein from Leaf (VIP Leaf), which is made from the leaf of the plant Amarnath and can be used to develop recipes for a meat alternative.
The plant-based market has undoubtedly had many ups and downs. Beyond Meat recently reported a 25% drop in sales in the third quarter of 2023, which is concerning. But new product launches have kept the ray of hope alive. Moving forward, it will be interesting to see how the industry addresses the issue of price parity, which has been a major impediment to people fully committing to the plant-based products space.
