Report projects alternative proteins category to expand to 11% by 2035
By Jeff Gelski, Meat+Poultry
ZURICH — The market for alternative meat, eggs, dairy and seafood products could reach at least $290 billion by 2035 and make up 11% of the overall protein market in a base-case scenario, according to a report released March 24 by Boston Consulting Group and Blue Horizon Corp.
The report titled “Food for thought: the protein transformation” forecast the market for alternative proteins will grow to 97 million tonnes by 2035 from 13 million tonnes in 2020. Assuming average revenues of $3 per kg (2.2 lbs), that volume amounts to a market of about $290 billion.
Besides a base-case scenario, the report also listed upside scenarios. With faster technological innovation and full regulatory support, alternative proteins in one upside scenario potentially could account for 22% of the overall protein market by 2035.
“Alternative proteins could soon match animal protein in taste, texture and price,” said Benjamin Morach, managing director and partner for Boston Consulting Group...