There is a need for manufacturers to start looking beyond wheat, soy and pea to allow for a more diverse palate of crops to work with – says FutureBridge
Utrecht, The Netherlands, April 21, 2020: Consumer demand for a healthier and more sustainable diet continues to drive new plant protein products onto retail shelves. The global plant-based protein market will reach $10.8B by 2022, supported by a CAGR of 6.7%.
But growing demand raises complex issues for the industry, from the sustainability of ingredient sourcing to the nutritional listing of formulations. “Companies must look to the next wave of plant proteins to provide more options during product formulation,” said Sarah Browner, FutureBridge’s food and nutrition lead analyst.
“The proteins which are most utilized in plant-based products today have several problems,” said Sarah Browner. “Pea protein, for example, has a very pronounced flavor which is difficult to mask while soy scrambles to move away from its association with GMO.”
FutureBridge’s in-depth domain know-how and start-ups database combined with its in-house software and data analytics reveal the four next-generation plant-based proteins best-positioned to displace first-generation alternative proteins. This selection builds on a detailed analysis of available technologies using a set of parameters, including functionality, nutrition, scalability, and sustainability:
- MUNG BEAN MIMICS EGG – Mung bean has many of the same amino acids as eggs that provide attractive gelation and emulsification properties. Usage of mung bean instead of eggs allows a reduction of 1 billion gallons of water in production per year.
- CHICKPEA CHALLENGES THE MIGHTY PEA – Chickpea is quickly rising through the rankings as an attractive plant protein for meat analogs that rivals soy, wheat, and pea. For example, a research study identified that the protein digestibility of lysine and proline was higher in extruded chickpea than in yellow pea.
- COCONUT’S CHARACTERISTICS WIN IN DAIRY – With the alternative dairy segment reaching $49.9B, the market share of coconut will rise. All 20 manufacturers of plant-based cheese in our database utilize coconut protein as a key ingredient.
- SEAWEED FOR TASTE WITHOUT THE SMELL – The global seaweed and seaweed product market is projected to be $26M by 2025. Our research spotlights the requirement for clean-label umami taste in the alternative seafood segment as a critical driver of seaweed’s demand in the future.
FutureBridge will host a webinar on The Next Generation of Plant-Based Proteins on 28th April 2020, at 4.30 pm CET / 10.30 am EST. In this webinar, we will deep dive on these four plant proteins and analyse their techno-commercial capabilities in the food and nutrition industry. To register, click here.