Future of Alternative Proteins Driving opportunities across the food value chain. Presenter: Harini Venkataraman, Research Analyst, Lux Research

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1 Future of Alternative Proteins Driving opportunities across the food value chain Presenter: Harini Venkataraman, Research Analyst, Lux Research

2 Agenda Alternative protein drivers and trends Innovating across the value chain Profiting from the consumer impact 2

3 Drivers for alternative proteins Growing population Environmental concerns Consumer preference Demand for alternative proteins 3

4 Drivers for alternative proteins Consumer preference Supply concerns Environmental concerns Demand for alternative proteins Plant proteins Algae Insects Cellular agriculture 4

5 Drivers for alternative proteins Consumer preference Supply concerns Environmental concerns Demand for alternative proteins Plant proteins Algae Insects Cellular agriculture 5

6 Diving into plant proteins 1 st generation: soy 2 nd generation: pea, lupin, chickpeas, canola etc. 3 rd generation: quinoa Plant proteins 6

7 Alternative proteins market set to grow fast By 2024: 37.8MMT $12 Billion Market Opportunity: Second generation proteins will grow much faster than soy 5

8 Alternative proteins market set to grow fast By 2024: 37.8MMT $12 Billion Market Opportunity: Second generation proteins will grow much faster than soy 5

9 9 Second generation plant proteins on the rise

10 Second generation plant proteins on the rise Meat substitutes and lentil pasta: Legume products on the rise in Europe On the pulse: why beans, peas and lentils are making a comeback Big Ag turns to peas to meet soaring global protein demand 10

11 Second generation plant proteins on the rise Meat substitutes and lentil pasta: Legume products on the rise in Europe 39% increase in legume products in the EU (EU TRUE project) On the pulse: why beans, peas and lentils are making a comeback Big Ag turns to peas to meet soaring global protein demand 11

12 Agenda Alternative protein drivers and trends Innovating across the value chain Profiting from the consumer impact 12

13 Where are the right near-term opportunities across the value chain for second generation proteins? Production agriculture ingredients products Consumer impact 13

14 Sustainable ways to produce second generation proteins Production agriculture ingredients products Consumer impact 14

15 LUX TAKE Develop seed varieties with increased protein content and high yield

16 INNOVATIONS IN Production agriculture Higher Who? How? Directed breeding process, combining genomic sequencing and big data analysis to pick hybrids Non-transgenic approaches to crop modification of one or more nutrition-related traits Speed breeding techniques to cut novel trait development time in half 16

17 Creating opportunities for ingredient production Production agriculture ingredients products Consumer impact 17

18 LUX TAKE Improve extraction technologies to achieve higher yield and quality for second generation proteins

19 INNOVATIONS IN Ingredients Higher Who? How? Gentle extraction method based on ionic shift properties to produce pea, canola protein isolates Extraction method for proteins, fibers, and oils from lupine seeds using supercritical CO2 Aqueous extraction governed by isoelectric precipitation to produce chickpea protein concentrates 19

20 Formulating the right product Production agriculture ingredients products Consumer impact 20

21 LUX TAKE Improve final product formulation e.g. taste, texture, organoleptic properties

22 INNOVATIONS IN products Higher Who? How? Extrusion process applied to meat analog products by varying temperature and pressure Eliminating off-flavors for pea protein-based dairy products Shear cell technology to impart meat-like texture to plant proteins 22

23 Agenda Alternative protein drivers and trends Innovating across the value chain Profiting from the consumer impact 23

24 Innovating based on consumer trends is quite stressful Production agriculture ingredients products Consumer impact 24

25 Innovating based on consumer trends is quite stressful Production agriculture ingredients You can turn this into an advantage! products? 25

26 INNOVATIONS IN Consumer impact Personalized nutrition solutions on the rise, consumers seeking healthier flexitarian diet Consumers are seeking better, healthier, & tastier solutions for non-meat protein sources Higher Growing consumer interest in plant-based diet can trigger novel opportunities! 26

27 INNOVATIONS IN Consumer impact Personalized nutrition solutions on the rise, consumers seeking healthier flexitarian diet Consumers are seeking better, healthier, & tastier solutions for non-meat protein sources Higher EXAMPLE: Growing consumer interest in plant-based diet can trigger novel opportunities! 27

28 INNOVATIONS IN Consumer impact Personalized nutrition solutions on the rise, consumers seeking healthier flexitarian diet Consumers are seeking better, healthier, & tastier solutions for non-meat protein sources Higher EXAMPLE: Growing consumer interest in plant-based diet can trigger novel opportunities! 28

29 Consumer trends can trigger opportunities Production agriculture ingredients products Consumer impact Growing consumer interest in plantbased diet 29

30 Consumer trends can trigger opportunities Production agriculture ingredients products Consumer impact Increased demand for plant proteinbased foods Growing consumer interest in plantbased diet 30

31 Consumer trends can trigger opportunities Production agriculture ingredients products Consumer impact Efficient methods to extract novel plant proteins Increased demand for plant proteinbased foods Growing consumer interest in plantbased diet 31

32 Consumer trends can trigger opportunities Production agriculture ingredients products Consumer impact Optimizing crops for high protein content Efficient methods to extract novel plant proteins Increased demand for plant proteinbased foods Growing consumer interest in plantbased diet 32

33 Key Takeaways 1 Profit from the rising dominance of second generation proteins 33

34 Key Takeaways 1 Profit 2 Look from the rising dominance of second generation proteins for ways to innovate up and down the food value chain 34

35 Key Takeaways 1 Profit 2 Look 3 Turn from the rising dominance of second generation proteins for ways to innovate up and down the food value chain consumer trends to your advantage 35

36 Thank you for joining us. Harini Venkataraman Lux Research, Inc. Lux Research Blog + Free Webinars Lux Spotlight Podcast Lux Research, Inc. on Soundcloud or itunes