In this issue
Issue 47 • February 2022
Welcome to the latest edition of Just Food’s digital magazine.
The market for alternative protein is one of the hottest areas of the packaged-food industry right now.
Consumer demand is on the rise and investment continues to flood into businesses developing and selling substitutes for meat, dairy and seafood.
In the opening weeks of 2022 alone, we’ve seen companies in North America, Europe and Asia Pacific announce fresh funding as they look to target growing consumer interest in diets with reduced (or no) consumption of the conventional proteins.
Research from GlobalData suggests the retail market for meat substitutes will rise by 95% between 2020 and 2025 to US$11.9bn – still a mere morsel when compared to global meat sales but certainly not to be sniffed at.
However, there are questions being asked about the prospects for each market segment. That the industry will continue to grow is not in doubt but what will the extent of that growth be? Who will win and fall away? In recent months, there have been signs, for example, US consumer appetite for plant-based meat may be waning, while more shoppers are starting to scrutinise the nutritional make-up of certain products.
Plenty, then, to chew over, as we hope you’ll see in this issue.
Dean Best, managing editor