In recent years, the sales of plant protein products have maintained an upward trend. The latest research from FutureBridge shows that the plant protein market is growing, and the global market size is expected to reach $10.8 billion by 2022.
Pulses such as soybeans and peas stand out in the development of plant-based protein products. Other protein sources and new technologies are also starting to gain ground. For example, data shows that food and beverages have been leading the algae market since 2017.
algal protein
According to the algae market report released by the market research and consulting firm MarketsandMarkets, on a global scale, the market size of algae products will be about 4.7 billion US dollars in 2021, and will reach 6.4 billion US dollars in 2026, with a compound annual growth rate of 6.3% during the forecast period. The food and beverage market segment will see significant growth.
ADM’s Outside Voice study shows that 30% of plant consumers worldwide are aware of algae as a source of protein. But awareness of this emerging protein source does not necessarily translate to consumption. In fact, only 7% of plant consumers globally say they consume algae. This presents an excellent opportunity for brands to bridge this gap with innovative alternatives to meat, dairy and more algae and microalgae products.
Plant consumers perceive algae to be nutritious and environmentally friendly, but algae and microalgae have a long way to go before they reach similar properties to other alternative and plant proteins from a sensory and functional, and even nutritional quality standpoint .
soy protein
Another alternative is plant-based protein from beans, including soybeans, black beans, peas, and chickpeas.
Beans tend to have higher nutritional quality than other grain proteins, including corn, wheat, and rice. This is critical in the plant-based space, as many consumers on flexitarian diets do so for nutritional purposes when considering plant-based alternatives. This feature is also especially important for consumers seeking products such as protein shakes and dairy beverages, as they tend to focus more on nutritional attributes.
mushroom protein
The food world is taking a mushroom storm. According to the mushroom industry report of Fortune Business Insights, the global mushroom market is expected to surge at a compound annual growth rate of 6.41% by 2026, with global consumption reaching 20.84 million tons.
It is undeniable that the continuous expansion of the mushroom market is closely related to the recognition of the high-quality nutritional, environmental and economic value of mushrooms. In particular, mushrooms have infinite possibilities in replacing meat.
Compared with other plant proteins such as beans, mushroom protein is rapidly emerging in the field of artificial meat by virtue of its own advantages. There are companies at home and abroad that are deploying vegetable meat products derived from mushroom protein.
For example, the core technology of Fable Food, an Australian plant-based meat company, is to use mushroom raw materials to manufacture alternative meat products, especially shiitake mushrooms, and has launched artificial meat products with mushrooms such as pulled pork and braised beef. In China, in 2020, a1 Snack Research Institute and Shanghai Xuerong Biotechnology established a joint venture company to develop mushroom protein elements that integrate soybean raw materials commonly used in vegetable meat in the market, and increase the protein content of vegetable meat by extracting protein from mushrooms.