Alternative Proteins Not a Concern for Traditional Livestock
December 8, 2017
The quest for technological advancements continues in food manufacturing. Alternative protein products derived from plant sources, insects and cultured meats are one of the top food trends to watch in 2018 and beyond, according to a report from CoBank Economist Trevor Amen. The effect on livestock and poultry protein demand in the U.S., however, is not expected to be significant.
The future success of alternative proteins lies squarely with rising global protein demand rather than a battle for the existing market share of livestock and poultry protein. In the short- to medium-term, rising global incomes will continue to drive consumers to a higher protein diet. Global GDP is projected to grow by $38 trillion from 2016 to 2030, generating a 46 percent (140 MT) increase in meat and poultry consumption. Technology companies and alternative protein providers intend to disrupt this trend.
Investments made by leading food and agribusiness companies as well as prominent tech entrepreneurs are accelerating the research and development activities of meat alternatives. Cargill, Inc. and Tyson Foods represent recent agribusiness investments in alternative protein startups, along with billionaire tech entrepreneurs like Bill Gates and Richard Branson.